After the right car loan to help get you behind the wheel of a snazzy secondhand vehicle? Well, with competitive fixed rates from 5.29% p.a. (5.84% p.a. comparison rate)* on loans between $10,000 and $100,000, the Plenti Used Car Loan (Fixed) could be just the thing you’re looking for!
Plenti offers tiered-based interest rates on its Plenti Used Car Loan (Fixed), so the rate you get will be personalised according to your credit rating. This is great if your credit score is in good shape as you’ll be rewarded with a lower rate.
Interest rates start at a low 5.29% p.a. (5.84% p.a. comparison rate)* but can go right up to 9.99% p.a. (10.56% p.a. comparison). The loan offers amounts from as little as $10,000 right up to $100,000, and flexible 3-7 year loan term options.
While there are no regular ongoing fees the loan does come with a steep $399 upfront application fee as well as a $30 late payment fee if you’re late to make a repayment.
This car loan comes with a monthly repayment cycle, plus the ability to make extra loan repayments, so you’ll be able to pay it off as quickly as possible. And with no early repayment fees, you won’t have to worry about being penalised for it either!
Just note that the secondhand car you purchase will also act as a security item against the loan, just in case you ever default.
The Plenti Used Car Loan (Fixed) could be a great option if you’re looking to purchase a secondhand car and have maintained a solid credit score because it offers tiered-based interest rates which reward borrowers who have a clean credit score with better rates.
With tiered fixed interest rates (based on creditworthiness) that range from a low of 5.29% p.a. (5.84% p.a. comparison rate)* to a high of 9.99% p.a. (10.56% p.a. comparison), this loan might not be the best option for borrowers with a poor credit score.
In addition, there’s a hefty $399 upfront application fee that you’ll need to watch out for, plus a $30 late payment fee if you’re late to make a repayment.
| Fixed | |
| 5.29% p.a.to 9.99% p.a. fixed | |
| 5.84% p.a.to 10.56% p.a.based on $30,000 |
| $399.00 | |
| $0.00 | |
| $30.00 | |
| $0.00 | |
| 0 |
| $10,000.00 | |
| $100,000.00 | |
| 3 Years | |
| 7 Years | |
| Vehicle |
| 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.
I wound up thru a broker with Plenti. Big mistake. They tell you there's no early exit fee. Trouble is, you pay admin fees for the life of the loan, which are significant. Early exit fee by proxy, and stealth. Don't go near them. Rate setter was a great co. Once a co lists, it's ALL about greedy boards, and delivery. This co has lost its way from its original mindset. AVOID!
Read full reviewI wound up thru a broker with Plenti. Big mistake. They tell you there's no early exit fee. Trouble is, you pay admin fees for the life of the loan, which are significant. Early exit fee by proxy, and stealth. Don't go near them. Rate setter was a great co. Once a co lists, it's ALL about greedy boards, and delivery. This co has lost its way from its original mindset. AVOID!
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