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We've driven our rate down so you can trade up

Our fixed car loan rate of 5.99% pa with a 6.26% pa comparison rate lets you trade up.

At Credit Union SA, we’ve driven our car loan rate down because we know that changes in life can mean a change in car.

Our very low car loan rate applies to loans from as little as $5,000 and is available for new and used vehicles under 2 years of age. So whether you’re starting a new job, or new family members are on the way, we’ve made it easier to trade up – from one South Australian to another.

Fixed rate
Comparison rate*

5.99% pa

6.26% pa

Along with a low rate, you'll also enjoy a huge range of benefits, including:

  • No monthly loan fees
  • Flexible repayment options
  • Fast approvals
  • No fees for extra repayments
  • No fees for early repayment of loan in full
  • Free redraw facility (min. $500)
  • Up to 7 year fixed rate term.

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8 ways to make it easier to get behind the wheel

1. Drive your dollar further

If you've found the car of your dreams in a car yard, dealer finance may seem like the most convenient option but it may come at a price. Dealer finance can be restrictive, as it can be limited to new cars, or certain makes and models. With a pre-approved Credit Union SA car loan you'll have full control over what you can buy and when.

2. Early exit

Watch out for any hefty fees that might apply for extra repayments or an early payout with dealer finance. Dealer finance tends to run for a shorter term, sometimes for only three years. Some people at the end of this term face an unexpected balloon payment, which is then usually financed at market rates too.

3. Spark your interest

Interest is normally calculated daily and charged on a monthly basis, so opting for the lowest interest rate is sound, but make sure that a low 6-month honeymoon rate doesn't suddenly revert to a much higher interest rate down the track.

4. Devil in the detail

Ask about additional fees, which can include monthly or annual fees, as well as having to pay for any late or extra repayments. A $10 monthly loan fee adds up to a huge $600 in fees paid over the term of a 5 year loan. Some low rate loans have high fees which can actually end up costing you more in the long run.

5. Terms of endearment

While a shorter loan term may result in a higher repayment and lower interest costs, a longer term means repayments are lower, but you may pay more interest.

6. Safe and secure

Financial institutions may offer a lower interest rate if they hold the car as security. While comprehensive insurance is required if a car is held as security, if you were going to do that anyway this could be an easy way to save money on your loan.

7. Pay attention

Ask if you can make weekly or fortnightly repayments, because more regular repayments will save on interest and shorten the term of a loan.

8. The green light

Money talks - so consider getting a pre-approved car loan to increase your bargaining power in the showroom. It lets you understand what you can afford so you can shop with confidence.

Lending criteria, fees and conditions  apply and are available upon request. *Comparison rate is based on a secured loan of $30,000 fixed over 5 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. 

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