Gateway Bank Car Loan - New Car

Features of Gateway Bank Car Loan - New Car

• Attractive rates: The interest rates that you can make use of on these car loans are competitive, owing to Gateway Bank's commitment to extend competitive deals to consumers. These rates are variable, meaning they can fluctuate in response to economic activity. In addition, as mentioned, these rates are lower due to the fact that they're secured against your car.
• Flexible repayments: With this loan, you can choose a loan term that will match your planned budget. If you're financing a new car, you will have up to 7 years to pay off your loan, but this will be reduced to 5 year(s) if you are buying a used car.
• Loan amounts: The minimum amount that you can get on a Gateway Bank Car Loan - New Car is $3,000 and the maximum amount is $75,000. You can apply for any figure depending on the type of car you are planning to purchase, although as always the amount you're approved for will depend on Gateway Bank's lending criteria. You can make repayments every week, fortnight or month to better suit your salary.
• Repayment options and redraw: A proven way of saving on interest charges is to make additional payments. This loan allows you to do so without penalty. If you're later in need of this cash you can redraw the extra amount. The minimum amount for any redraw is $250.

Gateway Bank's Vehicle Finder Service

Searching for a car to buy can be a daunting and costly affair. Gateway has now gone a step ahead to provide a Vehicle Finder Service, which you can now utilise for a hassle-free and quick search. The Auto Search will also get you the best price where it will make all the necessary negotiations.

Other benefits of using this free service include getting dealer's warranty and receiving advice from experts and getting a REVS check on your car. There are fees that will apply for vehicles that are bought from government auctions. Persons who are not members of Gateway Bank will also be required to settle a fee of $220.

The costs you should consider

There are some fees with the Gateway Bank Car Loan - New Car that you should consider before you apply:

• There's an establishment fee of $149 charged at settlement.
• There are no account-keeping fees.
• There are some loan contract fees that you may be required to pay, such as credit fees and Government charges. Gateway Bank will provide you with such details on forwarding a request.

What do you need to apply?

When lodging your application, there are some personal and financial details that you will be required to provide. You may also be requested to present copies of particular documents as support of the information provided in your application. The income supporting documents that you may need to provide include:

• Pay slips and group certificates
• Business and personal tax returns if you are self-employed
• Bank statements and agent reports on rental properties
• Information on Government Assistance payments
• Regular earnings from sources like shares

In relation to your expenses, you may be asked to provide supporting documents on rent payments, mortgage payments, hire purchase or loan payments, council and water rates, living expenses, car expenses, education costs, insurance and child care. Gateway can also request you to provide dealer invoice and registration papers.

The application process for a Gateway Bank Car Loan - New Car

1. Contact Gateway- you can do this by:
   • Completing an online enquiry by clicking 'apply' and providing some basic details
   • Printing an application form, which you should then complete and an email or fax to Gateway Bank
   • Applying through online banking (only for registered members)
2. Verification- this will follow immediately after application and there are some documents that you will be required to provide. You should be ready to provide them since they will play an important role in supporting the information in your application.
3. Approval and acceptance- this is where you will be required to sign the necessary documentation relating to the loan contract. The required funds on your Gateway Bank Car Loan - New Car will be provided once these are returned.

Compare car loan providers

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Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
loans.com.au - New - Variable Rate Special Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 6.24% to 7.74%	Comp. Rate (p.a.) 7.36% to 8.85%	Application Fee $400	Monthly Fee $8	Monthly Repayment $630.83	Go to siteMore Info Compare
OurMoneyMarket New Car Loan Fixed1 - 7 Years $2,001 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $250 min.	Monthly Fee $0	Monthly Repayment $622.82	Go to siteMore Info Compare
Simplify New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.19% to 18%	Comp. Rate (p.a.) 6.6% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $622.21	Go to siteMore Info Compare
Credit Concierge New Car Loan Fixed1 - 7 Years $10,000 - $100,000	Interest Rate (p.a.) 6.29% to 16.45%	Comp. Rate (p.a.) 7.41% to 17.91%	Application Fee $553	Monthly Fee $10	Monthly Repayment $637.97	Go to siteMore Info Compare
NRMA New Car Loan Fixed1 - 7 Years $5,000 - $130,000	Interest Rate (p.a.) 7.29% to 16.99%	Comp. Rate (p.a.) 8% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $635.67	Go to siteMore Info Compare	Note: Take out a loan for an eligible electric vehicle and receive a 1.5% discount on your personalised interest rate (interest rates start from 5.79% p.a. and comparison rates from 6.49% p.a.)
Credit Concierge Used Car Loan Fixed1 - 7 Years $10,000 - $1,000,000	Interest Rate (p.a.) 6.8% to 17.45%	Comp. Rate (p.a.) 7.56% to 18.91%	Application Fee $553	Monthly Fee $10	Monthly Repayment $642.74	Go to siteMore Info Compare
OurMoneyMarket Used Car Loan - No Vehicle Age Limit Fixed1 - 7 Years $2,001 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $250 min.	Monthly Fee $0	Monthly Repayment $622.82	Go to siteMore Info Compare
Simplify Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.19% to 18%	Comp. Rate (p.a.) 6.6% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $622.21	Go to siteMore Info Compare
NRMA Used Car Loan Fixed1 - 7 Years $5,000 - $130,000	Interest Rate (p.a.) 8.49% to 16.99%	Comp. Rate (p.a.) 9.21% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $647.01	Go to siteMore Info Compare	You'll receive a fixed rate from 8.49% p.a. Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.

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