8.2 / 10

based on 694 reviews as rated by Mozo community

Beyond Bank car loans

Is there a car on your wishlist of things to buy this year? Consider taking out a Beyond Bank loan to make it happen sooner. As you’ll find by reading below, this credit union offers no less than 5 different car loans that include special perks for environmentally friendly vehicles! Scroll down for more information...

Beyond Bank offers the following car loans

Rates and fees verified as correct at 02 December, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Environmental Flexi Personal Loan (Fixed, Unsecured)

12.74% p.a.

13.00% p.a.based on $30,000
over 5 years

$175

Environmental Low Rate Personal Loan (Fixed, Secured)

6.74% p.a.

7.62% p.a.based on $30,000
over 5 years

$175

Environmental No Fee Personal Loan (Fixed, Secured)

7.74% p.a.

7.74% p.a.based on $30,000
over 5 years

$0

Flexi Personal Loan (Fixed, Unsecured)

12.99% p.a.

13.25% p.a.based on $30,000
over 5 years

$175

Flexi Personal Loan (Variable, Unsecured)

12.99% p.a.

13.25% p.a.based on $30,000
over 5 years

$175

Low Rate Car Loan Special Offer (Fixed, Secured)

4.69% p.a.

5.01% p.a.based on $30,000
over 5 years

$175

Low Rate Car or Personal Loan (Fixed, Secured)

6.99% p.a.

7.62% p.a.based on $30,000
over 5 years

$175

No Fee Car or Personal Loan (Fixed, Secured)

7.99% p.a.

7.99% p.a.based on $30,000
over 5 years

$0

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Beyond Bank car loan FAQs

First up, what discounts can I receive by choosing to buy an environmentally friendly car?

Beyond Bank likes to reward customers who choose to go green. If you apply for one of its secured car loan products, you may be eligible for a further rate reduction by discussing it with them.

Most of these loans have fixed rates. How are variable rates different?

Fixed rates stay put, while variable interest rates are subject to fluctuate as you pay off your loan, potentially working in or against your favour.

When it comes to Beyond Bank’s only variable rate loan on offer known as the “Flexi” personal loan, you cannot secure your car to it. In other words, if you opt for the variable rate, you’ll be charged interest at a higher rate.

What is a comparison rate?

That rate sitting beside the interest rate in the comparison table above? Well, it’s there to help you gage how much interest you’ll pay along with the common fees. It combines admin fees, sign up costs and the interest rate into one.

Are Beyond Bank secured loans cheaper than its unsecured loans?

Yes. You’ll pay much less in interest if you buy a new or used set of wheels using a Beyond Bank secured car loan, as rates are low and competitive. Choosing a secured loan does require a little more effort, as you’ll need to sign some extra forms and pay a small fee*.

*Security fee not applicable to “No Fee Car Loans”.

Apart from the rates and fees, are Beyond Bank secured and unsecured loans really any different?

No, they all have the same product features like redraw facilities and zero early loan repayment penalties. What makes the “No Fee Car Loan” and “Low Rate Car Loan”
different, is that you’re required to borrow at least $10k and $25k respectively.

How much can I borrow?

It depends on how you’ve repaid debts in the past, as reflected in your credit history that Beyond Bank will obtain when you apply for your loan.

Different loan products have various loan amounts too:

Beyond Bank’s unsecured car loans range from $5k to $80k, whereas you can borrow up to a whopping $125k with a secured loan.

When will I be billed for repayments?

Either each week, fortnight or month. When you first take out the loan, you’ll elect a preferred repayment frequency.

How long will my contract last for?

Your contract will stipulate a loan term, which you and Beyond Bank agree on at the start. It can range from 1 - 7 years. Don’t want to be in debt for too long? It’s okay, you won’t be penalised in fees for finalising your loan early.

So I can bring my balance down with extra repayments?

Yes you can, which essentially brings down the amount of interest you are charged.

Do Beyond Bank car loans have redraw facilities?

Absolutely, every car loan detailed on this page offers a fee-free redraw facility, meaning you’ll have access to extra repayments.

Can I use a Beyond Bank loan for a preloved car?

If you’ve fallen for a handsome old car, it mustn’t be older than 6 years old to qualify for a secured loan, except for the “Special Low Rate Car Loan”, which excludes all used vehicles. Alternatively, a Beyond Bank unsecured car loan does not have any restrictions on the car you choose to buy.

Will I be charged extra for repaying my loan off early?

No Beyond Bank car loan have such penalties.

What’s the application process like?

It’s straightforward taking out a car loan these days, and Beyond Bank’s setup is no different. Sign the dotted line at a local branch, give its customer service line a ring, or do it all online.

Before you leave this page and apply, take note of the things you’ll need to supply Beyond Bank with:

  • Proof of ID (think passport, medicare card, driver’s licence etc)
  • Residential address in Australia
  • Details of your debts and assets
  • Employment info

Once you’ve submitted your application, the turnaround is quick. You should hear back from Beyond Bank in a few business days and be cruising around in no time!

How are Beyond Bank car loans rated?

Mozo users have rated Beyond Bank car loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of car-loans
Beyond Bank car loans
Overall
8.4/10
Price
Features
Customer service
Convenience
Trust

32 Reviews

Recent Beyond Bank car loan reviews

Beyond Bank Low Rate Car Loan Special Offer review
Overall 10/10
They really go above and beyond

Excellent car loan special offer rate with no hidden extras. Option to make extra payments and payout early with no penalties. Customer service from the word go was excellent. Great communication, friendly and willing to help in anyway. Would not hesitate to recommend.

Read full review

Excellent car loan special offer rate with no hidden extras. Option to make extra payments and payout early with no penalties. Customer service from the word go was excellent. Great communication, friendly and willing to help in anyway. Would not hesitate to recommend.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Lynda, Queensland reviewed about 1 month ago
Beyond Bank Low Rate Car or Personal Loan review
Overall 9/10
Excellent customer service and interest rate.

Beyond Bank was very helpful - got back to me within the timeframe they said they would, offered competitive insurance rates and set up everything. I recommend them for all banking.

Read full review

Beyond Bank was very helpful - got back to me within the timeframe they said they would, offered competitive insurance rates and set up everything. I recommend them for all banking.

Price
9/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Fiona, South Australia reviewed 10 months ago
Beyond Bank Car Loan review
Overall 9/10
Great

Fantastic service. Great interest rate. Very happy.

Read full review

Fantastic service. Great interest rate. Very happy.

Price
7/10
Features
8/10
Customer service
8/10
Convenience
9/10
Trust
8/10
Less
Brianna, South Australia reviewed about 5 years ago
Beyond Bank Low Rate Car or Personal Loan review
Overall 10/10
Great

Very good service and advice.

Read full review

Very good service and advice.

Price
8/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Nigel, South Australia reviewed over 5 years ago

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