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Mini meca 2022

G&C Mutual Bank Fixed Rate Car Loan (Fixed)

Advertiser disclosure
Interest rate from
5.99% p.a.
Comparison rate from
6.25% p.a.based on $30,000
over 5 years
Upfront fee

Mozo editorial review G&C Mutual Bank Fixed Rate Car Loan (Fixed) - last updated: 7 February 2022

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What's hot
  • 2022 Mozo Experts Choice Award winner
  • Fixed rates from 5.99% p.a. (6.23% p.a. comparison rate)
  • Redraw facility
What's not
  • $190 application fee
Mozo snapshot

Are you looking to purchase a used car? It’s time to check out the G&C Mutual Bank Fixed Rate Car Loan. This loan offers a competitive fixed rate of 5.99% p.a. (6.23% p.a. comparison rate*) and can be used to fund a set of new or pre-loved wheels up to $150,000, just as long as it’s under three years old when you apply and can be used as security against the loan. This loan also received a 2022 Mozo Experts Choice Personal Loan Award for Best Used Car Loan!

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Key features

The G&C Mutual Bank Fixed Rate Car Loan has a lot to offer. You can use it to buy any car as long as it's under three years old and can be used as security against the loan.

You can borrow a little, or you can borrow a lot. Opt for an amount anywhere up to $100,000 with terms between one and seven years, and you’ll be able to receive a competitive 5.99% p.a. fixed rate (6.23% p.a. comparison rate*). Plus, you have even more choice regarding repayments, as you can pay off your loan weekly, fortnightly or monthly. 

Speaking of repayments, the G&C Mutual Bank Fixed Rate Car Loan allows borrowers to make additional complimentary payments and, for borrowers who may need access to their extra funds later down the track for any reason, it also comes with a redraw facility.

There’s also no need to stress about pesky monthly fees on this loan because there aren’t any. Just keep an eye out for the $190 application fee when you first apply or the $15 late payment penalty if you miss one of your required repayments.

Who is it good for

This loan could be good for Aussies in the market for a car under three years old that also want a competitive interest rate.

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Any catches

Remember, you can only get this loan when buying is under five years old at the time of application; you cannot borrow for an item older than that.

Picture of Ava Crawford
Ava Crawford
Money writer

Ava Crawford is an experienced journalist, specialising in credit cards, personal loans and buy now pay later platforms here at Mozo. Ava has also produced digital content for Foxtel's LifeStyle and FOXArena, and has contributed to notable outlets such as The New York Times and ITV. She attended New York University and completed a degree in English and American Literature. She is also ASIC RG146 (Tier 2) certified for general advice.


Rates and fees information correct as at 17 May 2022. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.


5.99% p.a. fixed

6.25% p.a.based on $30,000
over 5 years







Other financial bits



1 Year

7 Years



Weekly, Fortnightly, Monthly



For cars up to 3 years old.


WARNING: 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. 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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