UniBank car loans

UniBank

Unicredit may have switched its name to UniBank, but this Teachers Mutual Bank affiliated provider still offers plenty of value when it comes to variable rate car loans. Motoring enthusiasts can secure their new or used vehicle to a loan packed with plenty of features, or go for an unsecured version instead. Continue reading for all your FAQs on UniBank answered, or compare it against others in the market at our car loan hub.

UniBank offers the following car loans

Product Interest rate from Comparison rate from* Upfront fee

13.19% p.a.

13.90% p.a.based on $10,000
over 3 years

$100

9.95% p.a.

10.64% p.a.based on $10,000
over 3 years

$100

8.39% p.a.

8.53% p.a.based on $30,000
over 5 years

$100

* 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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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UniBank car loan FAQs

What is a variable interest rate?

As you may have seen in the table featuring UniBank’s loans above, all of its car financing options come with variable interest rates, meaning there’s a possibility of a future rate change. In return for your flexibility, a UniBank car loan will give you some nifty features to play with like a free redraw facility and won’t charge you for paying your loan out early.

Should I secure my vehicle to the loan?

It’s entirely up you, but secured loans wind up cheaper in the long run because you pay interest at a lower rate. Of course, by including your vehicle in the contract as collateral, UniBank can reclaim your car if you fold on your loan. Not so keen on that idea? Opt for the unsecured version dubbed the “All Purpose Loan” instead.

Can I use a UniBank loan to buy a used car?

Yes, and your ride will qualify as security if it’s under 10 years old. Otherwise, you can choose the All Purpose Loan and select any car you like! Just keep in mind, you’ll only be offered the lowest rate loan if you purchase a shiny new set of wheels.  

How much can I borrow?

Select a secured car loan and you can potentially borrow $2k to $50k, or up to $80k with the unsecured loan option.

Can I choose my billing cycle?

For sure. Choose from a weekly, fortnightly or monthly loan repayment frequency.

How long can my loan contract go for?

Secured loans can range from 1 to 8 years, while terms on unsecured loans are capped at 6.

Can I pay off my loan faster?

If you want to cut down your debt, make additional loan repayments when you like at no extra cost. You’ll can also dip into those funds via a redraw facility when you need the extra cash.

What will happen if I clear my debt early?

You’ll wave goodbye to your loan sooner rather than later while not facing break costs.

What’s the car loan application process like?

Applying for a car loan with UniBank is easy! All you need to do is fill out an online form, give the customer service line a ring or visit one of its Western Australian branches. Have the following pieces of information ready to go when you do it:

Once UniBank has everything they need from you, you’ll be assessed and hear back from them in a couple of business days at most. Good luck!

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