People’s Choice CU Discounted Personal Loan (Car Loan)
- Application Fee
- $250
- Interest Rate (p.a.)
- From 6.49% (fixed)
- Comparison Rate (p.a.)
- 6.84%
- Max Loan Amount
- $120,000
Summary
Take advantage of interest rate discounts, no monthly fees and the option of early repayments with the Car Loan from People's Choice Credit Union.
If you're in the market for a new or used car, People's Choice Credit Union offer a variety of features that make its Car Loan worth considering. You can keep your repayments manageable with no monthly account fees, extend your loan terms up to 10 years and enjoy a lower interest rate if you purchase a brand new car over $20,000. Find out more about the features People's Choice offer with this loan in the review below.
Pros
-
No monthly fees
-
Pre-approvals are available
-
No fees for extra repayment and early repayment
Cons
-
Not available for loans of less than $20,000
-
You can only fix the loan for a maximum of 5 years
Details
Product details
| Product Name | People's Choice CU Discounted Personal Loan (Car Loan) |
| Interest Rate (p.a.) | 6.49% |
| Comp. Rate (p.a.) | 6.84% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $20,000 |
| Max Loan Amount | $120,000 |
Congratulations, People's Choice Credit Union!
People's Choice Credit Union received the highly commended award for 'Car Loans (Used Cars)' in the 2024 Product Awards.
Full list of 2024 winnersMain points to consider with the People's Choice Credit Union Car Loan
If you're purchasing a vehicle over $20,000 you can enjoy a lower interest rate of 6.49% p.a. There are no monthly fees with this loan and for a limited time a $250 application fee applies. Loan terms can extend up to a generous 10 years.
Features on offer with the People's Choice Car Loan
If you're considering this loan, it's important to have a good understanding of all the features that come with it. Here are some of the notable features of this loan:
- Competitive rate. This loan comes with a fixed rate of interest that applies for the first five years of the loan term. After the first five years a variable rate will apply.
- Interest rate discounts. If you are purchasing or refinancing a vehicle less than 7 years old and worth over $20,000 you can look forward to a lower rate of 6.49% p.a.
- Pre-approval. You can apply for pre-approval which remains valid for 90 days.
- No monthly fees. This loan comes with no monthly fees.
- Generous loan terms. The terms of this loan can extend up to 10 years, giving you plenty of time to repay what you borrow.
- New or used car. The loan can be used to purchase or refinance a new or used car, caravan or motorcycle that is up to 7 years old.
How to apply
You can apply for a People's Choice Credit Union Car Loan online through its website. The application process is quick and shouldn't take long to complete. You'll need the following information on hand to complete your application:
- Details of your income. This includes payslips, child support, pensions, income from overtime, allowances, commissions and rental income.
- Information about your expenses. You need to provide your utility bills, how much you pay in rent or board, details of any loan payments and the current limits and payments on credit and store cards.
- Asset details. List your cash savings, the value of any motor vehicles you own as well as shares, bonds, property and furnishings.
- Employment and residency. Provide your residential and employment history for the last three years.
- Identification. You will need your driver's licence number and expiry date.
You don't currently need to be a member of People's Choice Credit Union to apply for a loan, but you will need to become a member before the loan is finalised.
People's Choice offers a convenient way for you to finance your new or used vehicle purchase, but as there are other similar offerings, make sure you compare everything that's available to you before submitting your application.
Compare car loan providers
Compare alternatives
We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
Your reviews
Elizabeth Finder
Lead Editor
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.