Rates and fees verified as correct at 02 December, 2020. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|Car Loan (Fixed, Secured)|| |
8.39% p.a.based on $30,000
|Unsecured Personal Loan (Fixed)|| |
11.08% p.a.based on $30,000
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.
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First up, consider your car loan options with this lender. You can opt for a fixed rate, secured car loan, or unsecured personal loan with a choice between either interest rate version.
Even though Suncorp’s car loans with fixed rates are more competitive, remember that variable rates can potentially drop or get bumped up during the loan term, which affect how much interest you pay. Another thing to consider is whether you want the flexibility to repay your loan early. While Suncorp’s variable rate loans don’t have break costs, its fixed rate loans do.
The great thing about buying a car using a Suncorp loan is your opportunity to secure it, which can leave you better off financially. Secured car loans are cheaper as they have lower rates. The catch? Your choice of car needs to fit the criteria of not being over 12 years old on the contract expiry date.
It all depends on your credit history and financial situation, but all Suncorp car loans range from $5k to $80k. Even though you can take out a secured car loan worth $5k, the value of your car must be $10k or over.
It’s up to you. Pick between weekly, fortnightly or monthly due dates. You’re free to bring the balance down even more by making extra repayments, just factor in early loan repayment fees (unless your loan has a variable rate).
Terms start from 1 year, all the way up to 7. Work out with Suncorp an ideal time-frame, so you can comfortably pay your bills.
Age doesn’t matter when it comes to unsecured car loans, while cars need to be 12 years old or under to qualify as security.
It involves a little preparation. Suncorp will need you to prove your ID, income, liabilities and savings, so round up:
To be eligible for a Suncorp car loan, you must be earning at least $25k annually, aged 18 years or older and capable of committing to the loan contract. Ready to take out a Suncorp car loan? Apply online, over the phone or at a local branch. Once you’ve done that, the turnaround is quick and Suncorp can approve your loan within days.
Best of luck and enjoy that new ride!
Mozo users have rated Suncorp car loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
Very helpful customer support and trustworthy. Happy with the financial rates.Read full review
Very helpful customer support and trustworthy. Happy with the financial rates.