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People's Choice Discounted Personal Loan (Car Loan)

Advertiser disclosure
Interest rate from
6.49% p.a.
Comparison rate from
6.84% p.a.based on $30,000
over 5 years
Upfront fee
$250.00

Mozo editorial review People's Choice Discounted Personal Loan (Car Loan) - last updated: 23 May 2024

binocular icon
What's hot
  • Fixed rates from 6.49% p.a. (6.84% p.a. comparison rate*)
  • Free redraw facility & extra repayments
What's not
  • $250 application fee & $25 late payment fee
Mozo snapshot

If you’re gearing up to buy a new car, then you’ll probably want a value-packed, low-rate car loan to help seal the deal. People’s Choice offers fixed rates starting at 6.49% p.a. (6.84% p.a. comparison rate*) on amounts from $20,000 to $120,000 and plenty of top-notch features to boot. 

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Key features

Buying a new car or caravan that’s up to five years old? The People’s Choice Discounted Personal Car Loan will rev you up with its ripper rates, starting at a 6.49% p.a. fixed rate (6.84% p.a. comparison rate*) on loans between $20,000 and $120,000 and flexible loan terms from 1-10 years.

The People’s Choice Discounted Personal Car Loan cranks it up a notch with red hot features to match its competitive rates, like free extra repayments and a super convenient fee-free redraw facility, which is always handy to have in case you suddenly need access to those additional repayments you've made should any unexpected expenses pop up.

As this is a secured car loan, you'll need to put your new set of wheels up as security against the loan, in case you ever default. On that note, this loan offers plenty of flexible repayment options, giving you the choice of weekly, fortnightly or monthly repayments.

snapshot
Who is it good for

With super low fixed rates starting at 6.49% p.a. (6.84% p.a. comparison rate*) the People’s Choice Discounted Personal Car Loan is a solid offer for any Aussie looking to buy a fresh set of wheels up to five years old.

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Any catches

Be aware that the discounted fixed rate is only available for 5 years, after which it will jump to an 11.55% p.a. revert rate for the remaining term. And despite having no ongoing fees, watch out for the $250 application fee and $25 late payment fee.

Details

Rates and fees information correct as at 27 May 2024. 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.
Rates

Fixed

6.49% p.a. fixed

6.84% p.a.based on $30,000
over 5 years

Fees

$250.00

$0.00

$25.00

n/a

$0.00

Other financial bits

$20,000.00

$120,000.00

1 Year

10 Years

Vehicle

Features

-

Weekly, Fortnightly, Monthly

yes

yes

Fixed rates available up to 5 years, then revert to a variable rate of 11.55% p.a. for the remaining term up to 10 years.

Loan purpose includes purchasing or refinancing a new or used Car, Caravan (incl. campertrailer or motorhome) or Motorcycle up to 7 years old only.

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 People's Choice personal loans rated by the Mozo community?

Overall
8.0/10
Price
7.4/10
Features
6.6/10
Customer service
7.8/10
Convenience
7.7/10
Trust
7.9/10
Based on 98 People's Choice personal loan reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of People's Choice Discounted Personal Loan (Car Loan)

About People's Choice

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Debt Consolidation

6.57% p.a.to 18.99% p.a.

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14.95% p.a.to 27.95% p.a.

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7.69% p.a.

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6.57% p.a.to 8.48% p.a.

7.19% p.a.to 8.84% p.a.based on $30,000
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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
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9.14% p.a.to 11.19% p.a.

9.50% p.a.to 11.56% p.a.based on $30,000
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Debt Consolidation

5.76% p.a.to 24.03% p.a.

6.57% p.a.to 24.99% p.a.based on $30,000
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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
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5.76% p.a.to 24.03% p.a.

6.57% p.a.to 24.99% p.a.based on $30,000
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6.75% p.a.to 26.95% p.a.

6.75% p.a.to 26.95% p.a.based on $30,000
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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

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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

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Debt Consolidation

5.76% p.a.to 24.03% p.a.

6.57% p.a.to 24.99% p.a.based on $30,000
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5.76% p.a.to 24.03% p.a.

6.55% p.a.

$0.00

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Debt Consolidation

5.76% p.a.to 24.03% p.a.

6.57% p.a.

$0.00

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