CUA Fixed Rate Car Loan
- Application Fee
- $265 ($175 Establishment Fee + $90 Security Administration Fee)
- Interest Rate (p.a.)
- 6.79% (fixed)
- Comparison Rate (p.a.)
- 7.16%
- Max Loan Amount
- $100,000
Summary
A fixed rate car loan from CUA lets you have the financial stability you need to fund the car you want.
- Please note that CUA has been rebranded to Great Southern Bank. The information on this page has been kept for the benefit of those who are interested and historical records only.
CUA offers a Fixed Rate Car Loan with a host of competitive features for borrowers. The loan offers no monthly fees and comes with flexible repayment options to make it easy to plan your budget around this loan. In addition, CUA allows unlimited extra repayments and does not charge a penalty for an early payout.
Pros
-
Competitive interest rate
-
Large maximum loan amount
-
Fee-free additional repayments
-
Redraw facility available
Cons
-
$200 minimum for in-branch redraws
-
$90 administration fee for secured loans
Details
Product details
| Product Name | CUA Secured Fixed Car Loan |
| Interest Rate (p.a.) | 6.79% |
| Comp. Rate (p.a.) | 7.16% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max Loan Amount | $100,000 |
Main points to consider about the CUA Fixed Rate Car Loan
The personal car loan from CUA is a fixed rate secured loan to be used specifically for the purchase of a new or used vehicle up to 7 years old. This is a competitive option that provides an alternative to dealership finance.
At a 6.79% p.a. interest rate and with the ability to make as many repayments as you want, you can pay the CUA car loan off as quick as your budget allows and not be subjected to any penalties. If your loan is approved an establishment fee of $175 applies as well as a $90 security administration fee. There are also no monthly charges, making this a cost-effective choice for a car loan.
Features of the CUA Fixed Rate Car Loan
How to apply for the CUA Fixed Rate Car Loan
If the CUA car loan sounds right for you, click "Go to Site" to get your application started. Check first that you will meet the following eligibility requirements:
- You must be at least 18 years of age
- You must be an Australian citizen or permanent resident
- You must have no defaults on your credit file over the last five years
Have the following documentation and information handy when applying:
- Personal information. Your name and date of birth and current address will be required, as will your driver's licence number.
- Employment. Contact information for your current employer and details of your employment will be required.
- Income. Include your current salary plus any additional income you receive on a regular basis.
- Assets. You will be asked to provide details of your assets. Include any property, vehicles and savings you may have.
- Liabilities. Have a complete list of all of your current financial obligations. This will include any other loans and credit card debts you may have.
When shopping for a new car you should always be aware that there are alternate options to the financing offered by your dealer. Comparing the rates and features of other lenders first allows you to get the best car loan available. Compare the CUA Fixed Rate Car Loan with other loan products before making your final decision.
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jonathan.chan@findercrew.com
June 04, 2017
Hi Veronica!
Thanks for the comment.
Please be informed that interest is being calculated based over the term based on monthly repayments. Rates, promotions, other discounts may vary from time to time, so it’s best to contact the lender directly to see if there’s any concession that may be given by paying it off early.
Click “Go to Site” green button to be redirected to their page for further assistance.
Hope this helps.
Cheers,
Jonathan
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Vanessa
April 02, 2017
Hello,
I have a personal loan with another bank, can I apply for a secure car loan through CGU to buy a new car and pay off my other small loan?
Thanks
Anndy Lou Finder
April 03, 2017
Hi Vanessa,
Thanks for your question.
Please note that with a secured car loan, you are restricted as to how you can use your funds. This is because the loan amount is tied to the cost of the vehicle and not for repaying another loan.
If you are interested to get a loan to buy a car and use the extra funds to pay off your existing loan, you may consider getting a personal loan consolidation. Open that link to learn more.
Cheers,
Anndy
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Rose
February 04, 2017
just wondering if these loans have an early exit fee?
May Finder
February 04, 2017
Hi Rose,
Thank you for your inquiry.
No, CUA does not charge a penalty for an early payout. If you’re keen to explore other options, please check the list of car loans with early repayments featured on our website.
Cheers,
May
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mercia
November 23, 2016
Does CUA offer balloon payments ?
Anndy Lou Finder
November 23, 2016
Hi Mercia,
Thanks for your question.
Balloon payment option is not listed among the features of CUA Fixed Rate Car Loan. You can confirm this by directly calling CUA.
CUA Fixed Rate Car Loan does have a flexible repayment option allowing you to repay weekly, fortnightly or monthly. You can also have the option to make as many additional repayments as you want at no extra charge.
Cheers,
Anndy
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P
August 26, 2015
Do you finance used cars purchased from a private seller (ie. not a dealer)?
Elizabeth Barry Finder
August 26, 2015
Hi P,
Thanks for your question.
Just to clarify that you’ve come through to finder.com.au, a financial comparison service and not CUA. I can confirm, however, that if your car meets the requirements specified, you can buy it from a private seller and not a dealer.
I hope this has helped.
Thanks,
Elizabeth
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Veronica
June 04, 2017
Is the interest being calculated daily or over the term of the loan and then including in the monthly repayment? My reason for asking is if I pay it off early, I would not want to pay the interest in my repayments as if I had it on a full term.