Suncorp Car Loans help you get behind the wheel sooner!
Excited about getting behind the wheel of a new car? Suncorp Car Loans can
help get you there sooner. If you're eligible, take advantage of our Secured Loans, which have a lower interest rate
to help make your repayments more affordable. Both new and used car loans have a
fixed rate, to help make it easier for you to manage your repayments.
Key Features of our Car Loans
Fast Approval
Conditional approval can usually be given 1 working day after your application is
received. Once everything checks out, you’ll get your money fast!
Competitive Interest Rate of
10.75% p.a.
If you’re eligible, get a secured loan at a lower rate of
10.75% p.a.
Plus, the interest rate is fixed for the life of the loan, meaning your minimum
repayments never change.
Low fees
A once off establishment fee of $175, and a $5 monthly account keeping fee is all
you’ll pay*
Flexible Terms
You can choose your payment frequency (weekly, fortnightly or monthly), term of
the loan (1-7 years), and there are no penalties for extra repayments*.
Car Loans in more detail...
Interest rates, fees and all the other details you need to know about car loans.
|
Features
|
|
|
Fast approval
|
Conditional approval can usually be given on the working day after we receive your
application. Apply online, and it can be even quicker. If everything checks out,
you'll have your new car fast.
|
|
Fixed competitive rate
|
The interest rate is fixed
for the term of the loan, making budgeting easier because your repayments never
change.
|
|
Low fees
|
Pay a low establishment fee, a low account keeping fee, and no penalties for additional
or lump sum payments.*
|
|
Repayment flexibility
|
Choose to repay your loan weekly, fortnightly or monthly or make extra repayments
to pay off the loan early.
|
|
Flexible loan terms
|
Car Loans start at $5,000 and you can spread your repayments over a period of 1
to 7 years, depending on the loan amount and purpose. To apply online, your loan
amount must be less than $80,000. If you need to borrow more than that, please call
us on 13 11 34, or drop into your local
branch.
|
|
Optional Loan Protection Insurance
|
When you qualify for a personal loan with Suncorp you may also be eligible for consumer credit insurance.
For a nominal fee you can insure your repayments, providing you with the peace of mind knowing that in the
event of your death or a temporary disability, your loan repayments would be covered. For more information,
click here or
Call 13 11 34 for a no obligation quote.
|
* Early Payout Fee applies if you repay your loan within 12 months of settlement
and the term of your loan exceeds 12 months.
Secured Loans are available in QLD, NSW, ACT, SA, WA, Vic and Tasmania. Unsecured
Car Loans are available to all Australian residents who can settle their loan at
a
Suncorp branch.
|
Fees
|
|
|
Establishment Fee (financed with the loan)
|
$175
|
|
Monthly fee
|
$5 per month for the term of your loan.
|
|
REVS (Register of Encumbered Vehicles) fee
|
Fees payable to REVS apply. What is REVs?
|
|
Stamp Duty
|
Stamp Duty and government charges apply.
|
|
Early Payout Fee
|
$300 (Payable on the day the loan is paid out, if the loan is paid out within 12
months of settlement and the term of the loan exceeds 12 months.)
|
Car loan
interest rates can change at any time up until you receive your money (loan
settlement). Once the loan has been settled, the interest rate will be fixed for
the life of the loan.
Secured Loans vs Unsecured Car Loans
Secured Loans, like the Suncorp Secured Car Loan are available if you're buying
a car that is less than five years old from a dealership. We use your car as security
for the loan, which means we can offer a lower interest rate for your loan. If you're
after a used car that doesn't fit the above description you can apply for an unsecured personal
Loan.
Car Loans Interest Rates
Secured Car Loans
|
Loan Type
|
Annual Percentage Rate
|
|
Secured Car Loans $5,000 and over
Personal loan interest rates can change at any time prior to a loan being funded (settlement) after which time the rate will be fixed for the Fixed Interest Period. |
10.75% p.a.
|
13.03% p.a.
(based upon $10,000 over 3 years)
11.34% p.a.
(based upon $30,000 over 5 years) |
Download the Comparison Rate Schedule in PDF format.
Personal Loan - Unsecured
|
Loan Amount
|
Annual Percentage Rate
|
|
$5,000 and over
Personal loan interest rates can change at any time prior to a loan being funded (settlement) after which time the rate will be fixed for the Fixed Interest Period. |
13.90% p.a.
|
16.18% p.a.
(based upon $10,000 over 3 years)
14.48% p.a.
(based upon $30,000 over 5 years) |
Download the Comparison Rate Schedule in PDF format.
Comparison Rate
A Comparison Rate is a tool designed to help consumers identify the true cost of
a loan. This is because the Comparison Rate takes into account both the interest
rate and certain fees and charges relating to a loan, reduced to a single percentage
figure. The Comparison Rate does not include government charges, fees or duty. The
Comparison Rate also does not include fees and charges that are ‘event’ based and
may or may not be charged (eg. early payout fees). Such “event” based fees and charges
are not ascertainable when the comparison rate is disclosed.
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.
Comparison rate schedules are available at any Suncorp branch.
