The details shown below are for a fixed loan between $10,000 and $80,000
The details shown below are for a variable loan between $5,000 and $80,000
Choose the version of this loan that suits you best
| Loan type | Name | Min loan amount | Max loan amount | |
|---|---|---|---|---|
|
|
Fixed | Car Loan (Fixed, Secured) | $10,000 | $80,000 |
|
|
variable | Car Loan (Variable, Secured) | $5,000 | $80,000 |
Loan: $10,000 $80,000
Loan: $5,000 $80,000
If you’re a teacher or retired education professional looking to fund a car, then check out the Teachers Mutual Bank Car Loan. The 2022 Mozo Expert Choice Best Used Car Loan Award winner starts strong with a competitive fixed interest rate of 4.99% p.a. (5.66% p.a. comparison rate). You can borrow between $10,000 and $80,000 with a 3 to 6-year loan term, and you can choose from flexible weekly, fortnightly and monthly repayments. Just make sure you budget for the $100 application fee.
When shopping for a car loan, one of the critical features you pay attention to is the interest rate. The Teachers Mutual Bank Car Loan’s low fixed 4.99% p.a. interest rate (5.66% p.a. comparison rate*) starts you off on the right foot.
Not sure exactly what you’re looking for? Beyond your normal set of wheels, you can use this loan to buy towable caravans, boats, motorcycles or classic cars. Additionally, accessories like a car navigation system, alarm and car insurance can be added to the loan.
Flexibility and choice are great characteristics for a car loan, and the Teachers Mutual Bank Car Loan has these in spades. You are able to choose between weekly, fortnightly and monthly repayments, as well as a term anywhere between 3 and 6 years, giving you control over your repayment schedule.
With Teachers Mutual Bank Car Loan, you’re able to get a loan anywhere between $10,000 and $80,000. So unless you’re looking for a new Ferrari, there’s a good chance you can get access to the exact loan amount you need.
If you’re an education professional in need of a new set of wheels and the certainty of a low fixed interest rate appeals to you, this one’s definitely worth a look.
Remember that Teachers Mutual Bank services are only available to people and their families working or who have worked in the education field. Also, although the $100 application fee may not be a huge expense, if your budget doesn’t have much wiggle room, then it’s something to keep an eye on.
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Fixed |
|
|
4.99% p.a. fixed |
|
|
5.66% p.a.based on $10,000 |
|
$100.00 |
|
|
$0.00 |
|
|
$10.00 |
|
|
$0.00 |
|
|
At cost |
|
$10,000.00 |
|
|
$80,000.00 |
|
|
3 Years |
|
|
6 Years |
|
|
Vehicle |
|
Weekly, Fortnightly, Monthly |
|
|
no |
|
|
no |
|
|
Minimum loan amount is $10,000 for 3-6 year fixed terms. |
|
|
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.
|
variable |
|
|
8.99% p.a.variable |
|
|
9.13% p.a.based on $10,000 |
|
$100.00 |
|
|
$0.00 |
|
|
$10.00 |
|
|
$0.00 |
|
|
0 |
|
$5,000.00 |
|
|
$80,000.00 |
|
|
0 Years |
|
|
8 Years |
|
|
Vehicle |
|
Weekly, Fortnightly, Monthly |
|
|
yes |
|
|
yes |
|
|
none |
|
|
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.
Hard to talk to, too far away. Cannot speak to who you want, never available.
Read full reviewHard to talk to, too far away. Cannot speak to who you want, never available.
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