Rates and fees verified as correct at 24 October, 2021. 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|
You may have noticed in the table above that Great Southern Bank 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 Great Southern Bank.
The only way to take full advantage of Great Southern Bank'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 Great Southern Bank 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 Great Southern Bank 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 Great Southern Bank car loan repayments could look like for your situation, try this nifty car loan repayments calculator.
With Great Southern Bank 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 Great Southern Bank 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 Great Southern Bank car loan. You could try looking into an unsecured loan instead offered by Great Southern Bank, 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 Great Southern Bank'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 Great Southern Bank branch. Alternatively, give Great Southern Bank’s customer service line a ring to apply verbally. Once it’s all done, Great Southern Bank 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 Great Southern Bank car loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
Pros: -Clear communication via email and phone -Clear costs listed, no hidden costs or balloon payments -Extra repayments can be made in advance -Low interest rates, lower than car dealers and most other banks Cons: -No choice of car insurance company, must go with CUA's partner Allianz -Automatically on the 7 year loan option, with no communication to choose the amount of yearsRead full review
Pros: -Clear communication via email and phone -Clear costs listed, no hidden costs or balloon payments -Extra repayments can be made in advance -Low interest rates, lower than car dealers and most other banks Cons: -No choice of car insurance company, must go with CUA's partner Allianz -Automatically on the 7 year loan option, with no communication to choose the amount of years
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.
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