Illawarra Credit Union logo
Mini meca 2021

Illawarra Credit Union Secured Fixed Personal Loan (Used)

Advertiser disclosure
Interest rate from
5.64% p.a.
Comparison rate from
5.92% p.a.based on $30,000
over 5 years
Upfront fee

Mozo editorial review Illawarra Credit Union Secured Fixed Personal Loan (Used) - last updated: 18 November 2021

binocular icon
What's hot
  • 2022 Mozo Experts Choice Award winner
  • 5.64% p.a. fixed rate (5.92% p.a. comparison rate*)
  • Complimentary extra repayments & redraw facility
What's not
  • $200 application fee
Mozo snapshot

Got your eye on a used car? Or even another second-hand item? Introduce yourself to the Secured Fixed Personal Loan (Used) from Illawarra Credit Union. This loan offers a competitive fixed rate of 5.64% p.a. (5.92% p.a. comparison rate*) and can be used to fund any pre-loved item between $10,000 and $100,000, just as long as it’s under five years old when you apply and can be used as security against the loan. Plus, this loan also received a 2022 Mozo Experts Choice Personal Loan Award for best Used Car Loan!

key icon
Key features

There are plenty of reasons to consider the Illawarra Credit Union Secured Fixed Personal Loan (Used), whether you’re after a hot interest rate or flexible features. The loan is not limited to used vehicles either, it can be used to buy any other second-hand items as long as they are under five 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 from $10,000 and $100,000 and you’ll be able to receive a competitive 5.64% p.a. fixed rate (5.93% p.a. comparison rate*). Plus, you have even more choice when it comes to repayments, as you can pay off your loan weekly, fortnightly or monthly. 

While we are on the topic of repayments, the Secured Fixed Personal Loan (Used) allows borrowers to make complimentary additional payments, at no extra cost! And for borrowers who may need access to their extra funds later down the track for any reason, this loan comes with a redraw facility so you have access to your cash when you need it. Talk about flexibility. 

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 a few others though, like the $200 application fee when you first apply or the $10 late payment penalty if you miss one of your required repayments.

Who is it good for

This loan could be good for Aussies that love pre-loved. Since this loan isn’t restricted to used vehicles only, it could suit anyone looking to get their hands on a pre-owned item but just need a little help to get there.

question icon
Any catches

Remember, you'll need to prove that the item you're buying is under five years old at the time you apply for this loan, you cannot borrow for an item older than that.


Rates and fees information correct as at 16 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.


5.64% p.a. fixed

5.92% p.a.based on $30,000
over 5 years







Other financial bits



1 Year

5 Years



Weekly, Fortnightly, Monthly





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.

Customer Reviews

How are Illawarra Credit Union personal loans rated by the Mozo community?

Customer service

About Illawarra Credit Union