Why choose our Secured Car Loan?
Choosing a secured car loan helps you get on the road for less. How? We offer you a low interest rate in return for using your car as security for the loan. Plus, plan your budget with fixed repayment amounts and enjoy the flexibility to make extra payments when you choose.
- Lock in your repayment amounts for the life of your loan
- Next working day conditional approval on most applications^
- Low $175 establishment fee
- Low $5 monthly loan service fee
- Minimum loan amount of $5,000
With so much flexibility
- Choose weekly, fortnightly, or monthly repayments
- Repay your loan over 1 – 7 years
- Make extra repayments at no extra charge
- Option to set up automatic or direct salary transfers for simple, convenient repayments
Considering refinancing an existing secured car loan from another institution?
Establishment Fee (financed with the loan).
$5 per month for the term of your loan
Stamp Duty and government charges apply.
Early Payout Fee1
$0 if you’ve had the loan for more than 12 months.
$300 if you pay it off within 12 months, and your loan term is longer than that.
Personal Loans are available to residents of QLD, NSW, ACT, SA, WA, VIC, and TAS who can settle their loan at a Suncorp Bank branch.
To apply for a Personal Loan you must also be:
- 18 years or older
- an Australian resident
- earning a minimum net income of $25,000 per year
- able to meet the repayments
- looking to borrow more than $5,000
Preparing your application
You can apply for a Personal Loan online, over the phone, or at your local branch.
If you’re not an existing Suncorp Bank customer we are required to obtain suitable identification documentation from you before we can open an account. Pease read our Identification Requirements for more details.
You will also need to demonstrate your ability to make the loan repayments.
Proof of income
You’ll need to have one of the following:
- Your most recent pay slip showing at least 3 months year to date income
- Your individual tax return or financial statements for the past 2 years if you are self-employed
- Your rental invoice or tenancy agreement (real estate managed only) showing rental income
If you’re refinancing existing debt, you’ll also need some additional documentation.
Proof of your current liabilities
- Last credit card and/or Store card statements
- Last personal loan statement showing 6 months of transactions (if it is not a Suncorp loan)
Proof of non-Suncorp savings (if you have them)
- Savings account statements
- Term Deposit statements
- Managed fund statements
Looking for more options?
Consumer Credit Insurance for additional protection
When you qualify for a personal loan with us, you may also like to consider Consumer Credit Insurance for additional loan protection. From as little as 50c per week, you your Personal Loan repayments may be covered in the event of disability or death. For your convenience, the cost of your insurance is included in your monthly loan repayment. Simply check the Consumer Credit Insurance option when completing your online personal loan application and we’ll contact you with a no obligation quote.
1. An early payout fee applies if you repay your loan within 12 months of settlement and the term of the loan exceeds 12 months
* The comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as 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 is based on a $30,000 loan over 5 years.
^ Rates subject to change. Approval is not instant and is subject to Suncorp Bank’s standard lending criteria.
Eligibility and lending criteria apply.
Loans are issued by Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence number 229882 (“Suncorp Bank”). To approved applicants only. Fees, charges, terms and conditions apply and are available on request.
The Personal Property Securities Register
The Personal Property Securities Register (PPSR) is a national online register that can provide information to help protect consumers when they are buying personal property such as cars, boats or artworks (not including land or buildings). If you are buying a car privately you should conduct a search and check that there is no money owing on the car.
Next Day Working Conditional Approval
Provided the information you supplied in your application is correct and you can prove that to us.
Lock in your interest rate and repayment amount
A comparison rate is a rate that indicates the true cost of a loan. This rate incorporates certain fees and charges that are applicable for the chosen product.