CUA Car Loan
CUA Car Loan – Features and Benefits
Shopping for a new car can be fun, but it’s important to sort out your finances before you head out. A quick phone call can get you a fast pre-approval so you’ll know beforehand exactly how much you’re able to spend on your car. You’ll also know exactly what your minimum repayments will be before you’ve even found the right car.
Fast Approval
Once you’ve found the right car to suit your needs, you could receive your CUA car loan approval within 24 hours.
Flexible Repayments and Loan Terms
CUA is happy to arrange flexible repayment times. This allows you to make your payments when you get paid, so weekly, fortnightly, or monthly repayment options are just fine – whatever suits your pay schedule best. Payments are made easy by setting up a direct debit payment, either from your existing CUA transaction account, or from another Australian bank account.
You’re also able to extend your loan term up to as long as 7 years. A longer loan term can be helpful for reducing your minimum monthly repayment amount. However, if you’d prefer to reduce your debt more quickly, you can choose a shorter loan term that will get you to pay it off faster, even though it may increase your monthly payments a little.
No Penalty for Early Payout
If you choose to make extra repayments off your car loan debt, you won’t be slugged with any penalties. The same is true if you manage to repay your entire balance earlier than the original loan term – no penalty fees or deferred establishment fees will be charged.
This is great news for anyone with plans to repay their car loan sooner than the original loan term.
Rates and Fees
The interest rates on a CUA car loan are very competitive. You’ll also find the rates are lower on car loans than they are on other types of personal loan, as the car you choose will become the collateral for the loan. As the bank has a form of security, this poses less of a risk for them, so they reward customers with a reduced interest rate.
The current interest rates available for car loans are as follows:
| Car Value | Interest Rate | Age of Car |
| More than $30,000 | 8.69% | Brand New |
| Less than $30,000 | 8.99% | Brand New |
| Any Value | 9.99% | Between 2 and 5 years old |
| Any Value | 12.99% (personal loan) | More than 5 years old |
An application fee of $120 applies to all secured and unsecured CUA personal loans.
A security fee will also apply. The fee if the security asset is new to CUA will be $90. The security fee for any security asset already held with CUA is $70.
CUA will also happily consider finance for commercial vehicles or business use vehicles under their CUA commercial finance option.
Featured Personal Loans
| Personal Loan | Details | Min Interest Rate | Min Comparison Rate | Min Loan Amount | Min Loan Terms | Apply Fee | |
|---|---|---|---|---|---|---|---|
 ME Bank Personal Loan | A low rate personal loan from ME Bank with no application fee for a limited time. | 13.59% | 13.81% | $5000 | 1 year | $0 |   |
 Aussie Personal Loan | A smart way to consolidate your bills to save time and money so you can pay for your holiday, a wedding or renovate the house. | 13.90% | 14.84% | $3000 | 1 year | $199 | |
 Sugar Money Personal Loan | Fixed rate personal loan with flexible options to get you funds when you need it. | 13.99% | 15.00% | $3000 | 2 years | $250 | |
 bankmecu Personal Loan | A convenient and fast way to purchase a car or debt consolidation with affordable rates and fees. | 13.49% | 14.55% | $1000 | 1 year | $150 | |
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