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bcu Car Loan

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Application Fee
$200
Interest Rate (p.a.)
From 6.49% (variable)
Comparison Rate (p.a.)
6.8%
Max Loan Amount
$150,000

Summary

This flexible car loan offers a handy redraw facility and a fee-free early payout option.

If you’re looking to buy a motor vehicle up to 5 years old, the bcu car loan offers flexible finance with a competitive interest rate, a redraw facility and the option to make extra payments without paying additional fees. You can borrow from $4,000 up to $150,000 and a fast application process means you could have approval within 30 minutes of applying.

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Details

Product details

Product Name bcu Car Loan
Interest Rate (p.a.) 6.49%
Comp. Rate (p.a.) 6.8%
Interest Rate Type Variable
Min Loan Amount $4,000
Max Loan Amount $150,000

Finder Awards badge

Congratulations, BCU!

BCU received the following awards in the 2024 Product Awards:

  • 'Car Loans (Used Cars)' - Winner
  • 'Car Loans (New Cars)' - Highly Commended
Full list of 2024 winners

Main points to consider about the bcu car loan

A bcu car loan can be an unsecured loan or a secured loan with the car or some other asset as security. If you opt for a secured loan, your asset must have a value greater than $5,000.

The bcu car loan is a flexible personal loan with various features. You can make additional payments as well as pay the loan out early without any extra fees or penalties.

Features of the bcu car loan

  • Competitive interest rate. The variable rate is from 6.49% p.a. and the comparison rate is 6.8% p.a.(calculated on a loan amount of $30,000 over a term of 5 years with monthly repayments).
  • Redraw facility. If you are ahead with your repayments, you have the option of drawing down the extra money you've paid to spend on whatever you like.
  • Fast approval. Apply online, by phone or at your nearest bcu branch, and you could have approval in as little as 30 minutes.
  • Flexible payment terms. You can make additional repayments at any time without any financial penalty.
  • Early payout option. You have the option to pay the loan off early, without incurring a fee.

How much will the loan cost?

Fees and charges that apply to the bcu car loan include the following:

  • Application fee: Unsecured loan $200, secured loan $200
  • Monthly fee: $0 administration fee
  • Redraw fee: $0 per redraw

How to apply for the bcu car loan

You can apply for a bcu car loan simply by clicking "Go to Site" on this page. To be eligible for this loan, you must meet the following criteria:

  • Be over 18 years of age
  • Have a regular income
  • Have a good credit history
  • Borrow a minimum of $4,000 or a maximum of $150,000
  • Take the loan over a minimum term of 5 years
  • Have an asset worth more than $5,000 if taking out a secured loan
  • Have another bcu product

You will need to provide proof of identity (ie, driver's license, passport etc), proof of income (ie, payslips, bank statements etc) and proof of assets (ie, vehicle ownership papers, mortgage statement etc) to support your loan application.

It's always important to shop around and compare features before opting for a particular car loan, but if it's flexibility you're after and you're already a bcu customer, the bcu car loan may be just the type of finance you're looking for.

Compare car loan providers

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Updated regularly
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
loans.com.au - New/Demo - Variable Rate
loans.com.au logo
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 siteView details
Simplify New Car Loan
Simplify Finance logo
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 siteView details
OurMoneyMarket New Car Loan ($5,000-$100,000)
OurMoneyMarket logo
Fixed1 - 7 Years $5,000 - $100,000
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 siteView details
IMB New Car Loan
IMB logo
Fixed1 - 7 Years $2,000 - $125,000
Interest Rate (p.a.)
6.24%
Comp. Rate (p.a.)
6.59%
Application Fee
$274.78
Monthly Fee
$0
Monthly Repayment
$619.01
Go to siteView details
You'll receive a fixed rate of 6.24% 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.
Stratton Finance New Car Loan
Stratton Finance logo
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteView details
You'll receive a fixed rate from 6.52% p.a. depending on the lender you are approved with.
Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
RACV New Car Loans
RACV logo
Fixed1 - 7 Years $5,000 - $150,000
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 siteView details
You'll receive a fixed rate from 7.29% 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.
OurMoneyMarket Used Car Loan ($5,000-$100,000)
OurMoneyMarket logo
Fixed1 - 7 Years $5,000 - $100,000
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 siteView details
Simplify Used Car Loan
Simplify Finance logo
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 siteView details
Stratton Finance Used Car Loan
Stratton Finance logo
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteView details
You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a.
A used car loan of up to $300,000 with quick approval times and balloon payment options.
RACV Used Car Loans
RACV logo
Fixed1 - 7 Years $5,000 - $150,000
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 siteView details
You'll receive a fixed rate from 8.49% p.a.
Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.
Latitude Variable Rate Personal Loan
Latitude Financial Services logo
Variable2 - 7 Years $5,000 - $70,000
Interest Rate (p.a.)
9.49%
to 29.99%
Comp. Rate (p.a.)
10.37%
to 30.69%
Application Fee
$0
Monthly Fee
$13
Monthly Repayment
$653.57
Go to siteView details
Special Finder offer: $395 establishment fee waived for approved personal loan applications submitted through Finder. Latitude may withdraw offer at any time. T&Cs apply.
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Sources
  1. bcu Car Loan TMD

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Alex Jeffs

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Alex Jeffs is the senior publisher for automotive content at Finder. He has tested vehicles everywhere from Tasmania to Oodnadatta. See full profile

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