ME Bank is a unique loan provider that has been in the market since 1994 - it’s owned by a bulk of industry super funds and operates online only. If you need credit to buy a new or preloved ride, it can offer you a fixed rate, unsecured loan solution. Interested in giving an alternative to the major banks a shot? Get a feel for ME’s car loan in more detail below.
|Product||Interest rate from||Comparison rate from*||Upfront fee|
11.35% p.a.based on $30,000
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Like the name suggests, it’s a rate that won’t change for the length of your loan contract, as opposed to a variable rate which can be adjusted any time. So if you want to know what your bills will look like from the start, ME’s fixed rate offering could be a good match!
Yes, it does. Opting for an unsecured loan can be especially helpful for those who don’t want to fork out for a fully fledged shiny new vehicle. With ME, you can buy any set of wheels you like.
There’s no point in splashing out on a Maserati if you can’t afford one! So consider an affordable loan amount you feel comfortable with before taking the plunge. ME will consider your financial situation too, by assessing your credit history. Its car loans can range from $5k up to $50k. Not enough? Return to our car loan comparison hub and find a better fit.
ME will give you the flex to choose from a weekly, fortnightly or monthly schedule.
From 1 - 7 years.
While it’s fine to make extra loan repayments, you can’t access those funds through a redraw facility.
Sure can, and the best part about it is, you won’t be charged an extra fee!
Seamless. All you need to do is head to its site and fill out an online form. ME can also process car loans over the phone, but there are no physical branches around Australia. Be prepared to include plenty of personal info when you apply, so ME can work out if you’re eligible. Things you may be asked to include:
Once that’s all done, you’ll hear back on how it all went in a couple of business days. Then you can look forward to being the proud new owner of your dream car!