Queensland Country Credit Union New Car Loan

4.99% p.a.

5.59% p.a.based on $30,000
over 5 years

$120

Queensland Country Credit Union New Car Loan

4.99% p.a.

5.59% p.a.based on $30,000
over 5 years

$120

Mozo Review   Queensland Country Credit Union New Car Loan Review

Last updated: 6 January 2020.

What's hot:
  • Interest rates from 4.99% (5.59% comparison rate*)

  • Covers full purchase of the car, plus on road costs and insurance

  • Extra repayments allowed, plus no early repayment penalties

What's not:
  • $120 application fee

  • Goods security agreement fee

Mozo snapshot:

With Queensland Country Credit Union’s New Car Loan you can borrow from $1,000 to $75,000 to refinance or cover the costs of a car no more than three years old. Variable interest rates for the loan start low at 4.99% p.a., there is no early repayment penalty fee and only a small $5 service fee to pay monthly.

Key features:

Despite the fact that it’s called a ‘New Car Loan’, Queensland Country Credit Union’s loan can be used to cover the costs of or refinance a car up to 3 years old. Plus with this loan you can borrow not only the purchase price of the car, but also other upfront costs like insurance. 

As long as you meet the eligibility criteria you can borrow from as little as $1,000 to as much as $75,000 with loan terms ranging from 1 to 7 years. Although it should be noted that loan amounts of $50,000 or more can only be borrowed with a loan term of 5 years or over. 

Queensland Country Credit Union is also pretty flexible when it comes to making repayments, you can choose to make repayments weekly, fortnightly or even monthly. And on top of that, as this is a variable rate loan, you can even make extra repayments and early repayments without incurring any penalty fees.

Who it's good for:

You don’t need to live in Queensland to take advantage of Queensland Country Credit Union’s New Car Loan. You can apply online or over the phone. You need to be at least 18 years of age, be an Australian citizen or permanent resident and be currently in paid employment. You must also not have been bankrupt. 

Any catches?

It should be noted that loan amounts over $50,000 can only be taken out with a loan term of 5 years or more. There is also no redraw facility with this loan, meaning you won’t be able to take money back out, once you’ve paid it in.

Details

Rates and fees information correct as at 21 January 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
  • Variable

  • 4.99% p.a.variable

  • 5.59% p.a.based on $30,000
    over 5 years

Fees
  • $120.00

  • $5.00

  • $40.00

  • $0.00

  • $0.00

Other financial bits
  • $1,000.00

  • $75,000.00

  • 1 Year

  • 7 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • none

  • Loan amounts over $50k are only eligible for loan terms over 5 years.

  • none

*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. WARNING: 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 Queensland Country Credit Union personal loans rated by the Mozo community?

Overall customer rating
8.4/10
Price
9.4/10
Features
8.1/10
Customer service
8.4/10
Convenience
8.6/10
Trust
8.2/10
Queensland Country Credit Union

About Queensland Country Credit Union

Queensland Country Credit Union (QCCU) is an independent member owned organisation, providing a full range of financial services to QCCU members. QCCU value its members and show this by offering them with an extensive range of competitive financial products in: savings accounts, home loans, credit cards, debit cards, car loans, personal loans and term deposits, designed for Queenslanders.

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