| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Car Loan (Up to 5 years old, Fixed, Secured) |
6.29% p.a. |
7.35% p.a.based on $30,000 |
$249.00 |
| Car Loan (Up to 5 years old, Variable. Secured) |
6.29% p.a. |
7.35% p.a.based on $30,000 |
$249.00 |
| Green Car Loan (Secured, Fixed) |
5.89% p.a. |
6.95% p.a.based on $30,000 |
$249.00 |
| Green Car Loan (Secured, Variable) |
5.89% p.a. |
6.95% p.a.based on $30,000 |
$249.00 |
| Personal Loan (Fixed, Unsecured) |
9.99% p.a. |
11.03% p.a.based on $30,000 |
$249.00 |
| Personal Loan (Variable, Unsecured) |
9.99% p.a. |
11.03% p.a.based on $30,000 |
$249.00 |
When it comes to choosing between the two, if a potential interest rate change could impact on your finances, go for a fixed rate car loan. On the downside, you’ll need to pay an early loan repayment penalty fee if you decide to clear your debt before required.
Another option is to choose a Community First loan with a variable rate, where what you are charged in interest could increase or decrease. You can also repay your loan whenever you like, before the contract winds up.
It’s up to you, but if you want to pay the least amount in interest, consider securing your vehicle. It may involve signing a few more papers, but for the effort, Community First will charge you one of its lowest rates.
Don’t like the sound of your car being repossessed if you default on your loan? Pick an unsecured personal loan to access all the same features, but with a higher rate instead.
It depends on which loan you choose to fund your car with. If you’re buying a new car with a secured loan, the price tag can range from $10k to $60k. On the other hand, unsecured loans begin $5k, and have a $35k maximum. But before you settle on the right model and make of your vehicle, make sure the dollar figure you have in mind reflects what you can afford to pay back.
Yes, but you cannot tie it to your loan as security in return for a lower rate.
Like plenty of car loans in the market, you can take your pick between a weekly, fortnightly or monthly billing cycle.
If your secured loan has a fixed rate, 1 - 5 years, and as for secured loans with a variable rate, 1 - 7 years. All unsecured loan contracts range from 1 to 5 years.
You can do that easily with any one of the Community First Credit Union car loans detailed on this page via its redraw facility.
Simple really. Start by visiting Community First’s official site and completing a form, call its hotline or walk into a branch with the following things ready to go…
Keep in mind, loan eligibility may include you needing to be an Australian resident over 18 years old, and not having a history of bankruptcy.
Once the application is in, you’ll only need to wait a couple of business days for Community First to touch base with you on the outcome. Best of luck and safe driving! While you’re here, why not pay a visit to our car insurance hub and compare policies?
Mozo users have rated Community First Bank car loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
5 Reviews
My review for Community First Credit Union is that it is excellent in all aspects of banking.
Read full reviewMy review for Community First Credit Union is that it is excellent in all aspects of banking.
not happy with service
Read full reviewnot happy with service
Community First make you feel like a person, not just a number in their profit system!
Read full reviewCommunity First make you feel like a person, not just a number in their profit system!
Super fixed interest rate-very competitive. Dislike having a bill of sale over my vehicle but better than security over my home. Seemed unfair as my loan was only for about 50% of purchase price of my brand new car - asset rich, income poor did not give me a lot of options.
Read full reviewSuper fixed interest rate-very competitive. Dislike having a bill of sale over my vehicle but better than security over my home. Seemed unfair as my loan was only for about 50% of purchase price of my brand new car - asset rich, income poor did not give me a lot of options.