8.3 / 10

based on 58 reviews as rated by Mozo community

UniBank car loans

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

Rates and fees verified as correct at 05 December, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
All Purpose Loan (Fixed, Unsecured)

8.95% p.a.

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

$100

All Purpose Loan (Variable, Unsecured)

13.19% p.a.

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

$100

Car Loan (Fixed, Secured)

4.99% p.a.

5.66% p.a.based on $10,000
over 3 years

$100

Car Loan (Variable, Secured)

9.95% p.a.

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

$100

Secured New Car Loan (Variable)

8.39% p.a.

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

$100

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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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:

  • Your passport and driver’s licence
  • Australian residential address
  • Employment details including income

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!

How are UniBank car loans rated?

Mozo users have rated UniBank car loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of car-loans
UniBank car loans
Overall
9.3/10
Price
Features
Customer service
Convenience
Trust

3 Reviews

Recent UniBank car loan reviews

UniBank Car Loan review
Overall 10/10
Great customer service, no early pay-out fees

Customer service was fantastic and very informative. Repayment options were flexible which was perfect for me, and the ability to pay-out anytime with no fees is so helpful. Have absolutely nothing negative to say about UniCredit.

Read full review

Customer service was fantastic and very informative. Repayment options were flexible which was perfect for me, and the ability to pay-out anytime with no fees is so helpful. Have absolutely nothing negative to say about UniCredit.

Price
9/10
Features
10/10
Customer service
10/10
Convenience
5/10
Trust
10/10
Less
Jordan, Western Australia reviewed over 7 years ago
UniBank Car Loan review
Overall 10/10

Very friendly efficient staff

Read full review

Very friendly efficient staff

Price
7/10
Features
8/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Giuseppe, Western Australia reviewed about 9 years ago
UniBank Car Loan review
Overall 8/10

UniCredit has offered me highly personalised service over a period of approximately 8 years. In this time, I have had numerous loans all prepared by the same person in the same branch. Competitive interest and personal service makes this product stand out from the rest.

Read full review

UniCredit has offered me highly personalised service over a period of approximately 8 years. In this time, I have had numerous loans all prepared by the same person in the same branch. Competitive interest and personal service makes this product stand out from the rest.

Price
7/10
Features
0/10
Customer service
10/10
Convenience
5/10
Trust
10/10
Less
Larna, Western Australia reviewed over 9 years ago

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