CUA Secured Car Loan (Fixed)
CUA Secured Car Loan (Fixed)
Mozo Review CUA Secured Car Loan (Fixed) Review
Last updated: 12 October 2018.
What's hot:
6.79% interest rate (6.92% comparison rate)
Free extra repayments and redraw facility
Flexible repayment schedule
What's not:
$90 application fee
Mozo snapshot:
If you’re interested in getting a car and need a loan to make it happen, then the CUA Secured Car Loan is a good one to look into. The loan starts strong with a fixed interest rate of 6.79% (6.92% comparison rate). It follows this up with a heap of good features, such as unlimited free early repayments and the ability to redraw. Plus you can choose from flexible weekly, fortnightly and monthly repayments, over a term between 1 and 7 years.. However, make sure you budget for the $90 application fee.
Key features:
When you get a car loan, one of the main things you’ll want to look at is the interest rate. The CUA Secured Car Loan’s fixed 6.79% interest rate (6.92% comparison rate) starts you off on the right foot.
Finally managed to sell that all junk packed up in your garage and have found yourself with some extra cash to pay your car loan off early? Well go crazy, because unlike many other fixed rate loans, the CUA Secured Car Loan allows you to make as many early repayments as you want for free. And better yet, if you find yourself in need of the money you repaid early, you’ll be able to redraw that money at no cost.
Flexibility and choice are great characteristics for a car loan and the CUA Secured Car Loan has these in spades. You are able to choose between weekly, fortnightly and monthly repayments, as well as a term anywhere between 1 and 7 years, giving you control over your repayment schedule.
With CUA Secured Car Loan, you’re able to get a loan anywhere between $5,000 and $100,000. So unless you’re looking for a new Ferrari, there’s a good chance you can get access to the exact loan amount you need.
Who it's good for:
Most people looking for a car could look into the CUA Secured Car Loan as it offers a lot variability in its repayment terms and loan amounts, all on top of a low interest rate.
If the certainty of a fixed interest rate appeals to you but you’d still like the option to make extra repayments to save on interest, this one’s definitely worth a look.
Any catches?
The $90 application fee may not be a massive hurdle, if your budget doesn’t have much wiggle room, it’s something to keep an eye on.
Plus, if you’re using the redraw facility in a branch, remember there's a $200 minimum.
Details
Rates and fees information correct as at 17 October 2018.
Rates
-
Fixed
-
6.79% p.a. fixed
-
6.92% p.a.based on $30,000
over 5 years
Fees
-
$90.00
-
$0.00
-
$0.00
-
$0.00
-
$0.00
Other financial bits
-
$5,000.00
-
$100,000.00
-
1 Year
-
7 Years
-
Vehicle
Features
-
Weekly, Fortnightly, Monthly
-
yes
-
yes
-
$200 minimum withdrawal amount applies for redraws conducted in-branch.
-
none
Customer Reviews
How are CUA personal loans rated by the Mozo community?
Latest reviews of CUA Secured Car Loan (Fixed)
- Overall10/10
Competitive rates & great customer service
I love the personalised service I receive from CUA, the rates are always competitive and they are...
Read full review
I love the personalised service I receive from CUA, the rates are always competitive and they are quick to respond when needed most, there are no penalties for paying the loan off early which is a bonus.
Price10/10Features7/10Customer service10/10Convenience10/10Trust10/10Less
Toni | New South Wales
reviewed almost 4 years ago
- Overall10/10
Quickest Loan Approval Ever
I lodged a loan form and within three hours the money was sitting in my account! They were so...
Read full review
I lodged a loan form and within three hours the money was sitting in my account! They were so easy and helpful, would definitely go through CUA! Happy I bank with them!
Price10/10Features10/10Customer service10/10Convenience10/10Trust10/10Less
Name not supplied | Queensland
reviewed about 5 years ago
- Overall10/10
Competitive pricing & great flexible product benef
Would highly recommend CUA.
Read full review
Would highly recommend CUA.
Price9/10Features9/10Customer service9/10Convenience9/10Trust9/10Less
Name not supplied | Queensland
reviewed about 5 years ago
- Overall10/10
Great customer service
With CUA there are only pros - they are the best to do any banking, loans and insurance.
Read full review
With CUA there are only pros - they are the best to do any banking, loans and insurance.
Price10/10Features10/10Customer service10/10Convenience10/10Trust10/10Less
Diane | Queensland
reviewed over 5 years ago
About CUA
CUA is Australia's largest credit union and an alternative to the big banks, offering financial, health and insurance solutions to over 500,000 Aussies. As a mutual, it's run by members for members, and reinvests in making its service better for customers and supporting local communities. CUA is committed to helping members through life's big changes, so if you want to make a change for the better, check out CUA's range of home loans, personal loans, credit cards, savings accounts and more.
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