Sydney Mutual Bank New Car Loan Rate

Get behind the wheel of a new car with fewer fees and a competitive rate with Sydney Mutual Bank

If you're looking for a way to finance a new vehicle purchase, you might want to consider this fixed rate option from Sydney Mutual Bank. You'll keep your ongoing costs down with no account-keeping fees and a competitive fixed rate, plus you can finance a new car purchase up to $80,000. Sydney Mutual Bank is a credit union that directs all profits back into making their products and services better and more affordable, and this includes their New Car Loan (Fixed). Find out more of the benefits and submit your application below.

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$150

Application Fee

From 6.45% (variable)

Interest Rate (p.a.)

6.66%

Comparison Rate (p.a.)

$80,000

Max Loan Amount

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Details

Product NameSydney Mutual Bank Variable New Car Loan
Interest Rate (p.a.)From 6.45% (variable)
Comparison Rate (p.a.)6.66%
Interest Rate TypeVariable
Min Loan Amount$10,000
Max Loan Amount$80,000

Things to know about the New Car Loan

This loan is designed for the financing of new vehicles – as is implied by the name – but you can finance new vehicles up to two years old. You won't pay anything to apply for this loan and you're able to finance 100% of the purchase price of the vehicle, which can be a maximum of $80,000. You'll have up to 7 years to repay your loan and be repaying it at a competitive rate of 6.45% p.a.. There's also a redraw facility available, giving you the flexibility you need with your additional repayments.

What features and benefits are on offer?

  • How much you can borrow. You're able to finance 100% of the vehicle's cost, which can be between $10,000 and $80,000.
  • What kind of car you can borrow. The vehicle needs to be new or near new, as cars over two years old are ineligible for this loan.
  • Competitive rate. A rate of 6.45% p.a. will apply to your loan.
  • Flexibility with your car search. You can secure the loan before you find your car, and this way you'll have the confidence to negotiate knowing how much you have to spend. You can also take advantage of Sydney Mutual Bank's complimentary car search service.
  • Car insurance available. You have the option to take on insurance through their partner, Allianz. This way all your car payments are kept in one place. Comprehensive, third-party, and CTP insurance are available.
  • Loan term and repayments. You'll have a loan period up to 7 years, giving you plenty of time to repay what you owe. Weekly, fortnightly and monthly repayments are available.
  • Early repayment available. If you're able to, you can repay your loan early without worrying about penalty.
  • Redraw facility. A convenient redraw facility is available with this loan. You have to redraw a minimum of $20 per redraw.

The costs that come with the New Car Loan

This is a low-cost loan, but it still helps to see a breakdown for the fees and charges that apply. Here's what you need to know:

  • $150 application fee
  • $0 monthly fees
  • 6.45% p.a. Variable interest rate

How you can apply

If you're ready to apply for this loan, just click 'Go to Site' to get your application started. You can also apply by calling Sydney Mutual Bank directly. Make sure you meet the following eligibility criteria before doing so:

  • You are over the age of 18
  • You have sufficient income to repay the loan
  • You have good credit history
  • You are an Australian resident
  • You're looking to finance a new car up to two years old
  • The car you're buying is between $10,000 and $80,000

You'll also need some details on hand to fill out your application:

  • Personal details like your name, address and residential status
  • Employment details such as your employer's name, phone number and the status of your employment
  • Details of your income, assets and liabilities.

Remember to always compare car loan options thoroughly before submitting an application in order to find the best possible financial solution for your circumstances.

Compare car loan providers

$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
loans.com.au - New and Dealer Used Car Loan
3.99% (fixed)
4.53%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate of 3.99% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Settle the loan before 30 November 2021 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
Plenti Car Loan
From 4.89% (fixed)
5.44%
$10,001
3 to 7 years
from $249 to $799
$0
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
Credit Concierge Car Loan
From 2.99% (fixed)
4.07%
$10,000
1 to 7 years
$350
$8.50
You'll receive a fixed rate of 2.99% p.a. with a comparison rate of 4.07% p.a.
Get access to over 20 providers to fund a new or used car.
Wisr Secured Car Loan
From 4.74% (fixed)
5.01%
$5,000
3 to 7 years
$195 for refinance and dealer sale ($245 for private sale)
$0
You'll receive a personalised interest rate from 4.74% p.a. to 16.01% p.a. based on your risk profile
A flexible car loan from $5,000 - $63,000 with personalised rates and rewards for strong credit customers.

⭐Special Offer: Wisr's standard establishment fee $605 will be reduced to $195 for applications submitted through Finder. T&Cs apply.
OurMoneyMarket Car Loan
From 5.35% (fixed)
5.65%
$2,001
1 to 7 years
$250
$0
You'll receive a fixed interest rate from 5.35% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 7 years.
Stratton Finance New Car Loan
From 3.85% (fixed)
4.05%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed rate from 3.85% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
IMB New Car Loan
4.88% (fixed)
5.23%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPSR fee)
$0
You'll receive a fixed rate of 4.88% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
NRMA New Car Loan
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p.a.
Purchase a new or used car up to 3 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
NAB Personal Loan Unsecured Fixed
From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
Symple Loans Personal Loan
From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
SocietyOne Car Loan
From 5.95% (fixed)
5.95%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 5.95% p.a. and 17.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
Alex Bank Car Loan
From 4.99% (fixed)
4.99%
$2,100
6 months to 5 years
Waived $295 establishment fee
$0
You'll receive a fixed rate between 4.99% p.a. and 19.99% p.a.
Borrow up to $30,000 for terms between 6 months and 5 years to finance a car. The one-off $295 establishment fee will be waived for loan applications submitted by 3 November 2021. T&Cs apply.
NRMA Used Car Loan
From 6.24% (fixed)
6.94%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.24% 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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Compare up to 4 providers

Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.88% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

Logo for NRMA New Car Loan
NRMA New Car Loan

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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