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.
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.
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.