CUA Secured Car Loan (Fixed)

6.79% p.a.

6.92% p.a.based on $30,000
over 5 years

$90

CUA Secured Car Loan (Fixed) Review

Review published: 11 May 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 that a $200 minimum applies.

How are CUA personal loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.7

Based on 25
CUA personal loans reviews

8.0 7.8 7.8 7.6 8.0

Read CUA personal loan reviews by the Mozo community

Latest reviews of CUA Secured Car Loan (Fixed)

CUA

CUA Secured Car Loan (Fixed) personal loan review

Overall rating   10 / 10

Competitive rates & great customer service

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.

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.

    Price   10 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Toni (NSW), reviewed over 3 years ago

CUA

CUA Secured Car Loan (Fixed) personal loan review

Overall rating   10 / 10

Quickest Loan Approval Ever

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!

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!

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Mozo reviewer (QLD), reviewed almost 5 years ago

CUA

CUA Secured Car Loan (Fixed) personal loan review

Overall rating   10 / 10

Competitive pricing & great flexible product benef

Would highly recommend CUA.

Full review

Would highly recommend CUA.

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Mozo reviewer (QLD), reviewed almost 5 years ago

CUA

CUA Secured Car Loan (Fixed) personal loan review

Overall rating   10 / 10

Great customer service

With CUA there are only pros - they are the best to do any banking, loans and insurance.

Full review

With CUA there are only pros - they are the best to do any banking, loans and insurance.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Diane (QLD), reviewed over 5 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

  • 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

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.

*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.

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