BCU Bank car loans

It’s simply a type of interest rate that bcu can increase or decrease at any time, meaning there’s a chance your repayments could change during your loan term. Benefits of variable interest rates with bcu include zero penalties for repaying your loan early, and a redraw facility. Not to mention, the interest rate you get at first is competitively low!

If you want the cheapest bcu loan, opt for its secured option and pay interest at a lower rate. Keep in mind, tying your vehicle to the loan as collateral means bcu can possess your car if you default on it. But if your sights are set on a set of wheels over 7 years old, you’ll need to opt for an unsecured loan instead.

bcu will only lend an amount you can afford to repay, based on things like your income and credit history. Secure loan amounts can range from $5k to $75k, while unsecured car loans can start a little lower at $4k.

Select from either a weekly, fortnightly or monthly billing cycle.

Unsecured loans start from 1 year to 5 years, and secured loans 2 - 7 years. Repayments are spread evenly over the loan term you select, but you can always make extra repayments and clear your debt early without being charged extra.

You do it easily via bcu’s redraw facility, just keep in mind you’ll get charged a small fee for the convenience.

Applying for a car loan these days is easy to do, especially with the internet at your fingertips. Once you’ve found the right match, head to bcu’s official site, give them a call or visit one of the many branches scattered around Australia. bcu will probably need the following bits of info about you too, like...

• Your passport or driver’s licence

• Employment details including your salary

• Place of residence

• A list of outstanding debts or assets you own

Once bcu has received your application, they will review it and get back to you shortly. You could have your new or preloved car parked in the driveway in no time!