For cars 12 months and older.*
Whether you are purchasing your first car or require a car to suit your lifestyle, Victoria Teachers Credit Union can provide you with a Car Loan to suit your needs.
Our Car Loans are flexible and allow you to purchase used motor vehicles and motorcycles. You should always obtain loan pre-approval before finding a car (or motorcycle). This way you know exactly how much you can spend and you can negotiate on the price.
Our Car Loans have no hidden costs and no early repayment fees. You can repay your used Car Loan over a term of one to nine years.
If you are applying for a used Car Loan, the vehicle must not be older than twelve years at the completion of the loan contract.
Main Features
- Weekly, fortnightly or monthly repayments.
- Additional Repayments Accepted.
- Redraw Available ($500 minimum).
- No early repayment penalties.
- $5,000 minimum loan amount.
- No maximum loan amount.
- 9 year maximum loan term.1
- Optional Loan repayment insurance.
- Bonus Loan Protection.2
Interest
Calculated daily and charged monthly in arrears.
Loan Repayments
Principal & interest repayments.
Security
A Goods Mortgage on the motor vehicle is required for all Car Loans. The motor vehicle must also be registered in the name of the borrower.
* Car cannot be older than 12 years old at the end of the term
- This may vary depending on the age of the vehicle.
- Available to eligible applicants. Victoria Teachers Credit Union has insurance coverage with CUNA Mutual Life Australia Limited (CMLA) under which the remaining Car Loan balance for eligible Car Loans will be paid by CMLA to the Credit Union on a borrowers death whilst the insurance is current. Victoria Teachers Credit Union has put this insurance coverage in place at its own cost to remove the extra financial burden that families can have at this sensitive time. Details of the insurance cover held by the Credit Union can be obtained by contacting our friendly Member Service Consultants on 1300 654 822.