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Plenti Refinance Car Loan (Fixed)

Advertiser disclosure
Interest rate from
5.29% p.a.to 9.99% p.a.
Comparison rate from
5.84% p.a.to 10.56% p.a.based on $30,000
over 5 years
Upfront fee
$399
Go to site

Mozo editorial review Plenti Refinance Car Loan (Fixed)

Last updated: 11 August 2020.

binocular icon
What's hot
  • Fixed interest rates from 5.29% (5.84% comparison rate*)
  • No service, exit or early repayment fees
  • Free extra repayments
What's not
  • $399 application fee
Mozo snapshot

Unhappy with your current car loan? Looking for an option that will reward you for your healthy credit score? The Plenti Refinance Car Loan could be exactly what you need! Not only do fixed interest rates start at a low 5.29% (5.84% comparison rate*) but there are also no service, exit or early repayment fees attached to this loan. Borrowers also have the option to make extra repayments if they want to, however there are no redraws. 

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Key features

If you are on the hunt for a refinance car loan, Plenti may be the place to look. With tiered fixed rates, this loan is designed to reward for your excellent credit - you could get a fixed rate as competitive as 5.29% (5.48% comparison rate*). 

Plenti’s Refinance Car Loan is designed for refinancers with vehicles up to seven years old. Customers can refinance anywhere from $10,000 to $100,000 and choose from loan terms between three and seven years. 

While there is only the option to make monthly repayments on this loan, borrowers can make free extra repayments whenever they want. Just bear in mind though, there is no redraw facility attached to this loan so customers cannot dip into their repayments later on. This loan is designed for refinancing, so would suit someone with a good credit history looking to switch to a more competitive car loan. If you are after a car loan to make a vehicle purchase, consider checking out the Plenti New Car Loan or the Plenti Used Car Loan.

And if you pay down your entire loan early, the good news is Plenti doesn’t charge early repayment or exit fees. However, if you miss a regular repayment you will be charged $30 each time you do. There is also a hefty $399 upfront application fee to budget for.

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Who is it good for

This loan is designed for refinancing, so would suit someone with a good credit history looking to switch to a more competitive car loan. If you are after a car loan to make a vehicle purchase, consider checking out the Plenti New Car Loan or the Plenti Used Car Loan.

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Any catches

While fixed rates start at a low 5.29% (5.48% comparison rate*) on this loan, this is only for customers with excellent credit. If your credit score isn’t healthy you could face a rate of up to 9.99% (10.56% comparison rate*) which is something to consider before switching from your current loan. 

Details

Rates and fees information correct as at 1 December 2020. 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

  • 5.29% p.a.to 9.99% p.a. fixed

  • 5.84% p.a.to 10.56% p.a.based on $30,000
    over 5 years

Fees
  • $399.00

  • $0.00

  • $30.00

  • $0.00

  • 0

Other financial bits
  • $10,000.00

  • $100,000.00

  • 3 Years

  • 7 Years

  • Vehicle

Features
  • Monthly

  • yes

  • no

  • Displayed interest rate is for customers with an excellent credit history.

  • 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.

Customer Reviews

How are Plenti personal loans rated by the Mozo community?

Overall
3.5/10
Price
5.5/10
Features
4.0/10
Customer service
5.0/10
Convenience
5.5/10
Trust
3.0/10
Plenti

About Plenti

UK-based Plenti is one of the world’s largest peer to peer lenders (P2P) and has lent over $500 million since launching in October 2010. Its goal is to redefine savings and loans in Australia by cutting out the banks and providing more competitive interest rates to consumers.

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6.45% p.a.to 28.6% p.a.based on $30,000
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7.80% p.a.based on $30,000
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4.51% p.a.based on $30,000
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NOW Finance

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6.95% p.a.to 17.95% p.a.based on $30,000
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6.75% p.a.to 8.48% p.a.

6.96% p.a.to 8.69% p.a.based on $30,000
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Liberty

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6.45% p.a.to 26.99% p.a.

6.45% p.a.to 26.99% p.a.based on $30,000
over 5 years

CUA

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Unsecured Personal Loan (Fixed)

9.39% p.a.

9.64% p.a.based on $30,000
over 5 years

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5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

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7.95% p.a.to 19.45% p.a.

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over 5 years

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4.89% p.a.to 8.89% p.a.

5.44% p.a.

$0.00

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