8.4/10

Based on 85 Unity Bank product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Unity Bank car loans

The member owned Maritime, Mining & Power Credit Union, also known as MMPCU, first opened its doors to customers in 1970. Because it has no shareholders, this provider funnels profits back into the community and its financial products, including car loans where interest rates and fees are minimal. If a loan could really help you get on the road sooner, this page details everything you need to know about your options with MMPCU.

Unity Bank offers the following car loans

Rates and fees verified as correct at 27 May 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate from Comparison rate from Upfront fee
Car Loan (Up to 7 years old, Fixed, Secured)

7.44% p.a.

7.79% p.a.based on $30,000
over 5 years

$250.00

Consolidator Loan (Variable, Unsecured)

18.24% p.a.

18.78% p.a.based on $30,000
over 5 years

$150.00

Personal Loan (Variable, Unsecured)

14.24% p.a.

14.79% p.a.based on $30,000
over 5 years

$150.00

MMPCU car loan FAQs

Should I opt for a fixed or variable interest rate?

It really comes down to personal preference. If your budget doesn’t have room for a negative rate change, a fixed rate loan could work for you. That way, you’ll have the peace of mind that loan repayments will stay the same while you repay your debt. Choose a variable rate loan instead if you’re fine with MMPCU increasing or cutting the rate during your contract.

What’s there to consider with a secured loan?

Let’s start with the sunny side. Secured loans are cheaper than unsecured loans, as you receive a lower rate for signing your vehicle off as security to MMPCU in case you default. The negative? Well, if for some reason you cannot afford to repay your loan, you could lose your set of wheels.

Can I buy a used car?

Yes, but to qualify as security, your vehicle must be under 3 years old. If your dream car has been on the road longer, you could select an unsecured loan instead. That way, you’re free to choose any ride you like, provided the higher interest rate is fine by you.

How much can I borrow?

MMPCU secured loans begin at $10k, and unsecured loans $500. There is no maximum amount, but you’ll need to have a clean credit history and regular income to prove you’ll pay your dues.

How frequently will I need to make repayments?

Loan repayment billing cycles can be either weekly, fortnightly or monthly. You choose which one when you first take out the loan.

How long can I take to pay off my loan?

The life of your loan can range from 1 - 10 years (secured), or 1 - 7 (unsecured).

Can I access extra repayments?

Yes. Through the redraw facility, which MMPCU won’t charge you for using.

Sounds great. How can I take out a MMPCU car loan?

Start by visiting Maritime, Mining & Power Credit Union in person, online or give them a ring. Applications are quick and easy to do, provided you have the right info to include, such as:

  • Your driver’s licence or passport (for ID verification)
  • Your employment details
  • Full disclosure of any outstanding debts and existing assets

You may also need to pay a small fee to become a member of the credit union too. If you decide to depart as a member, it will be refunded. The turnaround for car loans can take a few days, so sit tight and you should have your new set of wheels soon enough!

How are Unity Bank car loans rated?

Mozo users have rated Unity Bank 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
Unity Bank car loans customer reviews
Overall
9.8/10
Price
9.4/10
Features
9.4/10
Customer service
9.6/10
Convenience
9.2/10
Trust
10.0/10
Based on 5 Unity Bank product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Unity Bank car loan reviews

Unity Bank Car Loan
Overall 10/10
Amazing

Very easy process with helpful and friendly staff who walk you through step by step

Read full review

Very easy process with helpful and friendly staff who walk you through step by step

Price
10/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Riley, New South Wales, reviewed 11 months ago
Unity Bank Car Loan
Overall 10/10
They are the best Bank in Australia!

I would say it’s the most genuine bank in Australia even if it's a smaller organisation. The staff is so helpful that you never have to worry about anything. I am sure I'll keep my dealing continue and grow further with Unity Bank.

Read full review

I would say it’s the most genuine bank in Australia even if it's a smaller organisation. The staff is so helpful that you never have to worry about anything. I am sure I'll keep my dealing continue and grow further with Unity Bank.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Amit, New South Wales, reviewed over 3 years ago
Unity Bank Car Loan
Overall 10/10
Fantastic customer service.

My credit union knew exactly what I wanted and helped me every step of the way. They made the process so easy. I think with having to deal with car yards and salesman that the last thing I wanted was for them to tip me over the edge.

Read full review

My credit union knew exactly what I wanted and helped me every step of the way. They made the process so easy. I think with having to deal with car yards and salesman that the last thing I wanted was for them to tip me over the edge.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Sarah, New South Wales, reviewed almost 11 years ago
Unity Bank Car Loan
Overall 9/10
Great rate, awesome customer service

We love this bank. Our branch is a no cash branch, which is the only reason we have another bank. We will soon be taking a home loan with them as we are so happy with our current and past two car loan accounts we have had.

Read full review

We love this bank. Our branch is a no cash branch, which is the only reason we have another bank. We will soon be taking a home loan with them as we are so happy with our current and past two car loan accounts we have had.

Price
9/10
Features
9/10
Customer service
9/10
Convenience
9/10
Trust
10/10
Less
Kimberley, New South Wales, reviewed about 11 years ago
See all car loan reviews
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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