An easy online application approval is all you’ll need to access Beyond Bank’s competitive 5.69% fixed rate (the comparison rate is 5.97%) and fund your new ride. With your interest rate locked in for the life of the loan, you’ll easily be able to budget for your loan repayments.
You can also make additional repayments whenever you like if you have any spare cash burning a hole in your pocket and better yet, you won’t be charged any fees if you pay out your car loan early. If you need to free up funds later on, you can access any advanced payments via the free redraw facility.
There is also an offset facility available where you can reduce the amount of interest you pay over the term of the loan by linking your car loan to an offset account (aka Beyond Bank’s Car Budget Account), but if you’re looking at a pre-owned Yaris this isn’t the loan for you as the car must be less than 3 years old.
The Low Rate Car Loan (Special Offer) is available on loans starting from $25,000 and you can borrow up to 100% of your vehicle’s purchase price. Loan terms range from 1 - 7 years and there is a choice of weekly, fortnightly and monthly repayments.
Who it's good for:
People who are looking at buying a new mid-range car over $25,000 and want a competitive fixed rate with the option of money saving features like an offset account and free extra repayments.
You must also be over the age of 18 and have a regular net income of over $2,000 per month.
While there are no ongoing service fees, there is a $200 upfront fee and if you miss a payment you’ll be charged a $20 late payment fee, so set up automatic repayments as soon as you drive out of the showroom.