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New Car Loan

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Get behind the wheel of a new car sooner with a New Car Loan.

Whether it's your first car, a larger car or your dream car, our New Car Loan can help you purchase any car built in the current or prior calendar year. When you credit a minimum of $250 per fortnight to your Victoria Teachers Mutual Bank account you’ll receive a great discounted rate across our entire Car Loan range.

It’s always a good idea to obtain loan pre-approval before you start looking for a new car or motorbike, so you know exactly how much you have to spend and can negotiate effectively. With our flexible New Car Loan you’ll have the finances you need when you find that perfect new car.

Use our handy Loan Calculators to get an idea of how much you can borrow and what your repayments may be.

5.79% pa
discounted variable interest rate

5.91% pa
comparison rate1

mozo | Experts Choice Awards - Car Loan

Apply Online Call 1300 654 822

The Details:

You can choose to make repayments weekly, fortnightly or monthly. Make additional repayments whenever you want.
You have access to free Redraw with a $500 minimum. Pay off your loan early with no penalty.3
Choose to fix your interest rate for 1 - 5 years. Break Cost Fee only applies during fixed rate period.
Our flexible New Car Loan starts at $10,000 and has no maximum. Secure a loan for up to 7 years.
Interest calculated daily and charged monthly in arrears. Ask us about optional Loan Repayment Insurance.
  Rates & Fees
New Car Loan (L35)
Promotional Interest Rates
Variable Interest Rate 5.79% pa
Comparison Rate1 5.91% pa
Fixed Interest Rates 1 to 5 Years Yes, refer to Interest Rates page
Standard New Car Loan Interest Rates
Variable Interest Rate 8.79% pa
Comparison Rate1 8.92% pa
Fixed Interest Rates 1 to 5 Years Yes, refer to Interest Rates page
Application Fee $0 
Establishment Fee2 $90 
Monthly Fee $0 
Annual Fee $0 
  Ready to Apply

Let us assist with your borrowing needs. For a car loan, you can:

Apply Online

Apply Online

Phone Us

Call 1300 654 822 between 8:00am and 7:00pm Monday to Thursday and Friday 8:00am and 6:00pm.


Complete a Car Loan Application and return it to us.
Download the Car Loan Documentation Checklist for a list of the documents required to apply for your Loan.

Visit Us

Complete an application in person at our Hawthorn East or Moonee Ponds Service Centres.

Terms and Conditions

Part A - Product Information
Part B - Fees and Charges
Part C - Interest Rates

  More Info


Principal and interest repayments.


We require a Goods Security Agreement on the motor vehicle for all Car Loans. Your motor vehicle must also be registered in the name of the borrower.


Use our loan calculators to assist you to make informed decisions about borrowing money and paying off your loan:

Loan Repayments Calculator
Work our what your minimum weekly, fortnightly or monthly loan repayments would be for any borrowed amount.

Extra Repayments Calculator
Calculate how much time and interest you can save by paying more than the minimum repayment.

Lump Sum Repayment Calculator
Calculate the time and interest you can save by paying a lump sum off your loan


Important Information
Promotional interest rates available for car loan applications received between 1 July 2016 - 30 June 2017 and funded 28 July 2017. To qualify for the discounted car loan rate you must arrange to credit a minimum of $250 per fortnight to your Victoria Teachers Mutual Bank Everyday Account. Car Loan Interest Rates effective 6 March 2017. Interest is calculated daily. Interest rates are per annum, current at the time of printing and are subject to change without notice.
This insurance product is issued by CGU Insurance Limited ABN 27 004 478 371 AFSL No. 238291 (CGU). This document contains general information only and may not suit your particular circumstances. Before making decisions about insurance products you should consider the appropriateness of the information having regard to your circumstances and the Product Disclosure Statement available by calling 1800CGU CCI (1800 248 224).
1. Comparison rate calculated on a secured loan amount of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different comparison rate. Fees and charges apply. Terms and Conditions available upon request.
2. Only payable if loan is funded. Waived for Student Banking Package customers.
3. No early repayment penalty is applicable on a variable rate. A break cost fee applies during periods of fixed interest.