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First Choice Credit Union Car loan

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Put yourself in the driver's seat and choose how often you make your repayments with payroll deductions available and no early payment penalties.

First Choice Credit Union has a special offer competitive rate car loan with no monthly fees and flexible repayments, available for new and used cars. It allows you to pay back your loan in a way that suits you.


Application Fee

From 6.99% (variable)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Max Loan Amount

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Product NameFirst Choice CU New Car Loan
Interest Rate (p.a.)From 6.99% (variable)
Comparison Rate (p.a.)7.18%
Interest Rate TypeVariable
Max Loan Amount$20,000

Main points to consider with the First Choice Credit Union Car Loan

This limited time only car loan is available to members and non-members of First Choice Credit Union and can be used for purchase on both new and used cars over .

This loan has an application fee of $100. Full purchase price is available to borrow with no down payment required on the vehicle.

Features of the First Choice Credit Union Car Loan

  • Competitive rate. This loan offers a limited time only variable rate of 6.99% p.a., at a competitive comparison rate of 7.18% p.a.
  • Fees. A loan application fee of $100 and a credit check fee of $14 applies to this loan, though there are no monthly or annual fees and no early payment penalties.
  • Flexible repayments. Choose from monthly, fortnightly or weekly repayments that fit around your lifestyle.
  • Full purchase price loan available. This loan offers a full purchase price on vehicles of a minimum of . This applies to both new and used vehicles.
  • Discounted rates. If trading-in an existing car with a 20% upwards value of your new car, First Choice Credit Union Car Loan offers potential discounted rates.
  • Pre-approval. If you haven't yet selected your car, this loan offers pre-approval subject to your personal circumstances and credit rating. Funds will be available for up to three months for car purchase.
  • Redraw. You can make additional repayments on this loan penalty-free and redraw those repayments for a minimal fee.
  • Direct payroll deductions available. You can potentially make your repayments easier by opting to deduct from your payroll automatically, so you never miss a payment.
  • No need to be a pre-existing member of the credit union. Membership is only required after loan approval.

Fees and charges

  • Application fee. An application fee of $100 applies to this loan. This is payable at the time of funding.
  • Credit check fee. Expect a credit check fee of around $14. This is payable at the time of funding.
  • Redraw fee. If choosing to use the redraw facility on this loan, a $25 fee will be incurred. This fee is payable at time of redraw.
  • No monthly fees
  • No annual fees
  • No early repayment fees
  • No account-keeping fees

How to apply for the First Choice Credit Union Car Loan

Want to apply to the First Choice Credit Union Car Loan? You can apply directly with First Choice by clicking on the "Go to site" button. First, make sure you meet the eligibility criteria outlined below:

  • You must be over 18 years of age
  • You must have a good to excellent credit rating and no defaults are permitted for applicants
  • You must be an Australian citizen or permanent resident

You also need the following documents in order to submit your application:

  • Employment and income details – you can still apply if you are self-employed
  • Your financial details, including your assets and liabilities
  • Your driver's licence number
  • Proof of address
  • Your rental statement, if you're not a home owner

While First Choice Credit Union offers a competitive rate, it is always a good idea to compare loans before submitting an application. Luckily, when it comes to car loans, we never tire of comparisons.

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You'll receive a fixed rate from 4.99% p.a.
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You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

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