Whether you’re looking for a more affordable used car to get you from A to B or you’re after a brand spanking new set of wheels, OurMoneyMarket’s Used Car Loan can help cover your costs from $2,001 to $75,000. It comes with fixed interest rates starting at a low 6.57% p.a. (7.19% comparison rate*) and offers loan terms from 1 to 7 years, plus you can make early repayments without incurring a penalty, meaning you might be able to free yourself of debt faster!
It's also an award winner! The Used Car Loan was named a 2022 Mozo Experts Choice Personal Loan Award winner in the Used Car Loan category by our expert judges.
With fixed interest rates starting from 6.57% p.a. (7.19% comparison rate*), OurMoneyMarket’s secured personal loan is definitely worth looking into. In the first year of the loan you'll be able to access that low rate no matter your credit score. After that time, your rate may change to reflect your credit rating via a tiered system.
Loan terms range from 1 short year to 7 years and you can use it to cover costs from $2,001 to $75,000. You’ll also benefit from zero monthly account keeping fees, zero exit fees and zero early repayment penalties. Interest rates on the loan are fixed, so you shouldn’t have any surprises when you make your repayments, but you do get some handy flexibility with this loan, as you can choose to pay it off either weekly, fortnightly or monthly.
An establishment fee starting at $250 is added to the principal amount and paid over the loan term. Just remember: this fee could increase based on your OurMoneyMarket loan grade and the total loan amount
On the topic of interest rates, be aware that they may vary from the headline rate depending on how your application is assessed. You will also have to use your vehicle as security, this is just in case, for any reason whatsoever you can’t make good on the loan.
Convenience is another perk, as you can easily apply for OurMoneyMarket’s Used Car Loan online, eliminating the need for printers or clunky paper forms. Not to mention the fact that the application should only take a few short minutes to complete and you’ll receive a decision even faster than that!
This used car loan could be great for someone who wants to be able to complete, submit and get an approval on a loan application quick smart.
It should be noted that this car loan does come with a minimum application fee of $250 (which could be more depending on your credit rating and the loan amount), but this will only be charged once you receive your funds. There is also no redraw facility with this loan, so you won’t be able to take extra repayment funds out once you put them in.
Fixed |
|
6.57% p.a.to 18.99% p.a. fixed |
|
7.19% p.a.to 21.78% p.a.based on $30,000 |
$250.00 |
|
$0.00 |
|
$35.00 |
|
$0.00 |
|
0 |
$2,001.00 |
|
$75,000.00 |
|
1 Year |
|
7 Years |
|
Vehicle |
- |
|
Weekly, Fortnightly, Monthly |
|
yes |
|
no |
|
Interest rates may vary depending on assessment of application. Establishment fee varies from $250 and is based on your OurMoneyMarket loan grade and total loan amount. The fee is added to the principal amount and paid over the loan term. |
|
none |
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.
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Debt Consolidation
6.57% p.a.to 18.99% p.a.
7.19% p.a.to 19.39% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Clean Green Car Loan
7.29% p.a.
8.41% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years