Car loan
Why choose a BCU Bank car loan?
Pay it off sooner
Make extra repayments and pay off your loan early without being charged a fee.
Free redraw
Access your funds if you’re ahead on repayments – super handy if your car needs upgrades or repairs!
Flexible repayments
Align your payments with your pay cycle and choose to repay weekly, fortnightly, or monthly.
No monthly fees
So you can keep a little extra money in your pocket.
Personal loan options for your next car
Secured personal loan
A personal loan with a variable rate, secured against a car up to seven years old, as well as new motorbikes.
Variable rate
Comparison rate*
Unsecured personal loan
An unsecured personal loan with a variable rate and choice of loan term up to five years.
Variable rate
Comparison rate*
Secured or unsecured car loan?
Choosing the right car loan for you can depend on your needs, and the age of the car you're looking to buy. Here's a quick comparison to help you decide between a secured or an unsecured personal loan:
Secured car loan
- Cars less than seven years old or brand new motorbikes are considered suitable collateral for a secured personal loan, making it ideal for new vehicles.
- Interest rates for secured personal loans are often lower because the loan is secured against a vehicle.
Unsecured car loan
- Doesn’t require you to use any asset as security.
- Perfect if you're looking to buy a vehicle that's more than seven years old.
- Usually has a higher interest rate than a secured personal loan due to the lack of security provided.
How much could your car loan repayments be?
Crunch the numbers, plan ahead, and even find out how much you could you save if you pay extra on your car loan.
Personal loan repayment calculator
More calculators
Handy resources to help you get started
Is June really the best time of year to buy a car?
You can get a good deal on a new car at any time of year, however, it’s more likely to happen at the end of the financial year.
Your credit rating: What it is and how to check it for free
Your credit rating is calculated based on your financial history and provides a bank or lender with a guide to how much of a credit risk you may be.
Car insurance
From basic cover to a comprehensive policy, you can choose from three different levels of protection for your car.
What's the personal loan application process like?
Apply for your loan
Complete your loan application and provide us with your ID and supporting documents.
Assessment and approval
We’ll take a look at your loan application, and will be in touch if we have any questions or need any more info.
Sign your contract
We can send your contract to you electronically, or you can sign it at your local branch.
Your loan is funded!
In other words, you’ve got your money. Don’t forget to set up your repayments online!
How to apply for a car loan
Apply in person or over the phone
Talk to one of our lending specialists and apply over the phone by calling our contact centre on 1300 228 228, or pop into your local branch.
Alternatively, you can enquire online and one of the team will be in touch soon!
Make an enquiryA little preparation can make your personal loan application quicker and easier. Make sure you have the following ready:
- Identity documents
- primary photo ID (e.g. passport or driver licence), or
- primary ID without a photo (e.g. birth certificate or citizenship certificate) and a secondary ID (e.g. utility bill with your name and address on it).
- Employment details – contact details of your current and previous employer (if current is less than two years).
- Income details – payslips or, if you're self-employed, tax assessments for the last two years, and financial statements.
- Regular expenses – such as rent, food, electricity, insurance, telcos, and medical costs.
- Assets – a rundown of any assets that you own (any cars, savings accounts, home contents, properties, investments).
- Liabilities – the details of any loans, credit cards, buy now pay later, or other debts you have.
Apply in person or over the phone
Talk to one of our lending specialists and apply over the phone by calling our contact centre on 1300 228 228, or pop into your local branch.
Alternatively, you can enquire online and one of the team will be in touch soon!
Make an enquiryA little preparation can make your personal loan application quicker and easier. Make sure you have the following ready:
- Identity documents
- primary photo ID (e.g. passport or driver licence), or
- primary ID without a photo (e.g. birth certificate or citizenship certificate) and a secondary ID (e.g. utility bill with your name and address on it).
- Employment details – contact details of your current and previous employer (if current is less than two years).
- Income details – payslips or, if you're self-employed, tax assessments for the last two years, and financial statements.
- Regular expenses – such as rent, food, electricity, insurance, telcos, and medical costs.
- Assets – a rundown of any assets that you own (any cars, savings accounts, home contents, properties, investments).
- Liabilities – the details of any loans, credit cards, buy now pay later, or other debts you have.
Because we're here to help
Apply over the phone or in person
Call us on 1300 228 228 or chat to the team at your local branch.
Find your local branch
You’ll find us from Maroochydore to Port Macquarie – drop in and say hi!
Got a question about car loans?
If the car you’re buying or refinancing is less than seven years old, you can apply for a car loan - which is a basically a secured loan for the purpose of buying a car.
If the vehicle is older than seven years old, you may be able to get an unsecured loan instead.
Securing the loan simply means that we’ll register an interest on the car at the Personal Property Securities Register (PPSR).
You can read more about this in our Personal Loan Terms and Conditions.
A secured personal loan is where your loan is secured by a motor vehicle that is less than seven years old. So, you might use the car you’re buying as security for your car loan, or you might use a car that you already own, to secure a personal loan for a well deserved holiday. Secured personal loans are often offered at a lower interest rate.
On the other hand an unsecured personal loan doesn’t require any security.
If you want to refinance an existing BCU Bank personal loan, or a loan you have with another bank or lender, we’re here to help.
You might be looking to increase your loan, or combine multiple loans into one with a debt consolidation loan.
We offer both secured and unsecured variable rate personal loans for any purpose. And you can use our repayments calculator to get an idea of your repayments.
If you have an existing BCU Bank loan you want to review or increase, or you want to speak to a team member about a new personal loan application, please contact our lending specialists on 1300 228 228 to apply over the phone, or visit your nearest branch.
Interest on your personal loan is calculated daily, and then charged at the end of each month. Which means that each day you have a reduced balance on your loan account, you are paying less interest.
Say for example, you get a tax return and are not sure what to do with it. Consider putting it towards your personal loan and you'll save on interest charges. With the redraw available on your personal loan you'll have the option to redraw the funds again if and when you need them.
Yes, we can assess your personal loan application and provide you with a loan pre-approval so you can shop for a car with confidence.
Important information
Banking and Credit products issued by Police & Nurses Limited (BCU Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms and conditions, fees and charges apply.
Please consider the terms and conditions and whether a product is right for you.
- View terms and conditions
- View fees and charges
- View Credit Guide
- View Target Market Determinations (TMDs)
*Comparison rate calculated on a loan amount of $30,000 over a term of 5 years based on monthly repayments. Rates quoted may vary depending on loan purpose and security offered.
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.