Rates and fees verified as correct at 27 November, 2020. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|Secured Car Loan (Fixed)|| |
7.16% p.a.based on $30,000
|Go to site|
|Unsecured Personal Loan (Fixed)|| |
9.64% p.a.based on $30,000
|Go to site|
|Unsecured Personal Loan (Variable)|| |
12.15% p.a.based on $30,000
|Go to site|
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.
You may have noticed in the table above that CUA offers three car loan types with different fixed rates. With rates like these, you benefit through the peace of mind they give you during your loan term. Unlike variable rates, fixed rates cannot change, so from the moment you take out your loan, you’ll know how much money in interest will go to CUA.
The only way to take full advantage of CUA’s competitive rates is by securing your vehicle to one of its car loans. If you want to buy a set of wheels over the security age limit of more than seven years, you’ll need to select an unsecured loan instead with a higher rate.
With CUA car loans, there’s no minimum loan amount requirement, but the maximum is $100k. As the comparison tables detail above, your car’s price tag will influence what rate you are charged at.
Say you borrowed $25k from CUA to buy a 1 year old car. Based on the comparison rate at the time of writing, over a 5 year term your repayments would be $235. To work out what CUA car loan repayments could look like for your situation, try this nifty car loan repayments calculator.
With CUA car loans, you can choose between weekly, fortnightly and monthly loan repayment dates. This makes it easier on you if you’re keen on aligning repayment dates with pay day.
They can range from 1 to 7 years. Choose a loan term that reflects what you can comfortably afford to pay on each repayment date.
Yes you can, but there’s no going back once it’s done. You can’t dip into extra repayments through a redraw facility.
Even though CUA car loans have fixed rates, which generally involve break fees, you won’t be penalised in fees at all for clearing that debt early.
That’s right, it doesn’t. Some people like to have that kind of flexibility and use it as a means of paying less interest while being able to draw upon the extra funds when needed. If this sounds like you, check out the range of loans we compare at Mozo.
You certainly can, but the age of the car can have interest rate consequences. For instance, if your car is more than 2 years old, your interest rate will be slightly higher than if it was younger. If you want to buy a set of wheels that has been on the road longer than 7 years, you won’t be eligible for a CUA car loan. You could try looking into an unsecured loan instead offered by CUA, or compare similar products at our car loan hub.
It’s always best to avoid making car loan repayments after they’re due, as you can be charged in fees for doing so. Your credit rating is important too, so try your best to protect it by not falling behind on repayments.
There’s really nothing to it. Just locate the comparison tables where you first started reading and click on a blue “go to site” icon beside the loan product of your choice. It will redirect you to CUA’s online application form and you can apply away!
For a smooth signup process, ensure you have:
If applying in person is what you’d prefer, head to a local CUA branch. Alternatively, give CUA’s customer service line a ring to apply verbally. Once it’s all done, CUA will notify you on the loan outcome as soon as possible. Generally loan approvals can take a few hours up to several business days.
Mozo users have rated CUA car loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
I have been with CUA for quite a few years. They provide the best service for bank related affairs and most importantly, loans. They helped me buy my first house and their customer service is great. I will never leave CUA, it is the best bank ever.Read full review
I have been with CUA for quite a few years. They provide the best service for bank related affairs and most importantly, loans. They helped me buy my first house and their customer service is great. I will never leave CUA, it is the best bank ever.
They looked after me even though the car I wanted was priced way above market value.Read full review
They looked after me even though the car I wanted was priced way above market value.
They have always looked after us in every circumstance, so would not go to anyone else.Read full review
They have always looked after us in every circumstance, so would not go to anyone else.