bcu New Car Loan

5.90% p.a.

6.82% p.a.based on $30,000
over 5 years

$250

bcu New Car Loan Review

Rates and fees information correct as at 17 August 2018.

Review published: 6 September 2016

What's hot:

  • Competitive 5.90% variable interest rate

  • No penalty to pay out loan early

  • Flexibility of additional payments

What's not:

  • $25 redraw fee

Mozo snapshot:

With a low 5.90% variable interest rate (6.82% comparison rate), the ability to make extra repayments and the option to pay out the loan early without penalty, the bcu car loan ticks all the right boxes for a great value secured car loan


Key features:

The bcu special car loan has an upfront application fee of $250 and a monthly service fee of $8 for the life of the loan. It is available for loan amounts from $5,000 up to $65,000, so finding the right wheels to fit your budget shouldn’t be a problem.

Remember that in order to snag the low 5.90% interest rate, you'll need to bundle your car loan a bcu every day bank account

You can choose a loan term to meet your budget as the special car loan is available for any term between 1 years to 5 years. Plus, the variable interest rate means you get a lot of flexibility as you can make extra repayments whenever you like and if you decide to pay out the loan early, there is no early termination fee. 

While you also get the flexibility of a redraw facility if you do want to redraw on any extra repayments just be aware that there is a $25 redraw fee per redraw so don’t do this too often.


Who it's good for:

The bcu special car loan would be suitable for anyone over the age of 18 years looking at purchasing a new or used car over the value of $4000.


Any catches?

You’ll need to bundle the car loan with a bcu transactional access account to be eligible for the low rate but the good news is that bcu has a wide range of personal banking products to choose from including fee free bank accounts and home loans.


How are bcu personal loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
9.7

Based on 62
bcu personal loans reviews

8.6 8.7 9.9 9.8 9.7

Read bcu personal loan reviews by the Mozo community

Latest reviews of bcu New Car Loan

bcu

bcu Special Car Loan (Less than 5 years old, Variable, Secured) personal loan review

Overall rating   10 / 10

Will recommend to anyone wanting a loan!

My loan manager was very quick to contact me when I was approved and he was patient, very patient. I (39M) definitely am an extremely happy customer!

Full review

My loan manager was very quick to contact me when I was approved and he was patient, very patient. I (39M) definitely am an extremely happy customer!

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Maddisyn (NSW), reviewed over 2 years ago

bcu

bcu Special Car Loan (Less than 5 years old, Variable, Secured) personal loan review

Overall rating   10 / 10

Fantastic

Great experience, really quick service, friendly kind staff who explained everything clearly to me.

Full review

Great experience, really quick service, friendly kind staff who explained everything clearly to me.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Sarah (NSW), reviewed over 2 years ago

bcu

bcu Special Car Loan (Less than 5 years old, Variable, Secured) personal loan review

Overall rating   8 / 10

Excellent

Very good all around and having a very nice person to talk to makes all the difference

Full review

Very good all around and having a very nice person to talk to makes all the difference

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Wayne (NSW), reviewed over 2 years ago

bcu

bcu Special Car Loan (Less than 5 years old, Variable, Secured) personal loan review

Overall rating   10 / 10

Very helpful with fast results.

Very happy with the easy access to help and how fast and simple the process is.

Full review

Very happy with the easy access to help and how fast and simple the process is.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Kylie (NSW), reviewed over 2 years ago

bcu

bcu Special Car Loan (Less than 5 years old, Variable, Secured) personal loan review

Overall rating   10 / 10

Great service

Karen was absolutely amazing, so helpful!

Full review

Karen was absolutely amazing, so helpful!

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Lisa (NSW), reviewed over 2 years ago

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. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • Variable

  • 5.90% p.a.variable

  • 6.82% p.a.based on $30,000
    over 5 years

Fees

  • $250.00

  • $8.00

  • $0.00

  • $0.00

  • $0.00

Other financial bits

  • $5,000.00

  • $65,000.00

  • 1 Year

  • 5 Years

  • Vehicle

Features

  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Available only when bundled with BCU access account.

  • none

About bcu

BCU began in 1970 when a group of north coast banana growers pooled their resources, and formed a credit union. Since those humble beginnings BCU has grown to 54,000 members, and includes 23 branches from Port Macquarie to Beaudesert, a call centre located in northern NSW and Telephone and Internet banking facilities. Profits are returned back to members through loyalty rebates, affordable loans, sponsorships and educational programs. Regardless of where you live in Australia, BCU has a wide range of personal finance options to simplify your banking, including credit cards, home loans, personal loans, savings and transaction accounts and term deposits.

*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. WARNING: 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.

Compare other personal loans
Advertisement