Catalyst Money car loans

Catalyst Money

Catalyst Money has been providing financial services since it first started as The University of New South Wales Staff Credit Union Limited back in 1963. If you’re thinking of choosing this established lender to help you buy a car, this is the page to be on! Scroll down to learn the nuts and bolts of your financing options, and find out if you’re eligible for a student discount...

Catalyst Money offers the following car loans

Product Interest rate from Comparison rate from* Upfront fee
Car Loan (New) (Fixed)
Catalyst Money

6.34% p.a.

6.62% p.a.based on $30,000
over 5 years

$200

Car Loan (Used) (Fixed)
Catalyst Money

7.49% p.a.

7.77% p.a.based on $30,000
over 5 years

$200

11.79% p.a.

12.08% p.a.based on $30,000
over 5 years

$200

* 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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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Catalyst Money car loan FAQs

What is a fixed interest rate?

Good question, it’s an interest rate attached to your loan that is guaranteed to stay the same while you pay off your debt. If you opt for any one of Catalyst Money’s car loans, you’ll know exactly what your future repayments will look like from the start. Wondering if a fixed rate means less loan flexibility, like similar products in the market? Well, Catalyst Money car loans are out of the norm, as none have early loan repayment penalties, plus they give you access to a redraw facility so you can dip into extra repayments.

Should I secure my car to the loan?

It’s your choice, but if you want access to the lowest interest rate Catalyst Money can give you, look no further than a secured loan. It will involve you signing legal paperwork giving them permission to repossess your vehicle if you cannot repay your debt. Alternatively, pay a little more interest with a Catalyst Money unsecured personal loan instead.

Can I get a student discount?

Absolutely...if you’re a full time university student that is. All you need to do is open a Unicorn Saver Account with Catalyst Money (unless you already have one), and your establishment fee will be waived when you take out one of its car loans.

Can I buy a preloved car?

Yes you can, just opt for the used car loan version, which allows you to secure a second-hand car aged up to 5 years old. If you want to buy an older vehicle, go for the unsecured loan instead.

How much can I borrow?

You’ll need to fit a certain criteria proving to Catalyst Money that you’re able to repay the loan, such as having regular income and a clean credit history. When it comes to Catalyst Money’s secured car loans, loan amounts begin at $10k. Don’t need that much? Consider an unsecured loan instead, where the minimum loan amount is $2k.

How frequently will I need to make repayments?

You can choose between a weekly, fortnightly or monthly billing cycle.

How long can I take to pay off my loan?

Unlike some car loans which can be repaid over 6 or 7 years, Catalyst Money loan terms are capped at 5.

What if I want to dip into extra loan repayments?

You can use a fee-free redraw facility to access any additional repayments you make over the life of your loan. Easy!

What’s the application process like?

Just like most car loans these days, it’s a painless process. Complete a form on the official website, give Catalyst a call or do it the old fashioned way by visiting a branch in person. Get organised in advance by ensuring you:

After you’ve applied for credit to buy that new set of wheels with Catalyst Money, expect to hear back from them within a few business days on the outcome of your loan. Best of luck!

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