Credit Union SA Car Loans

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Credit Union SA provides car loans as well as bank accounts, credit cards, and insurance products.

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The table below displays a snapshot of Credit Union SA’s car loan products on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a $20,000 loan for a new car paid over five years in SA. Before committing to a particular car loan product, check upfront with your lender and read the PDS to confirm whether the terms of the loan meet your needs and repayment capacity. *Read the Comparison Rate Warning.

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What car loan(s) does Credit Union SA offer?

At the time of writing, Credit Union SA offers three car loan products: a fixed rate loan, a variable rate loan, and a special fixed rate loan available to employees in the SA education sector and students currently studying education. All of Credit Union SA’s car loan products offer a number of benefits and features including:  

  • Multiple repayment options
  • The ability to make as many extra repayments as you want, fee-free
  • The ability to redraw any extra payments you’ve made, also fee-free
  • The ability to pay off your loan early without incurring fees
  • A free redraw facility ($500 minimum)
  • A minimum loan amount of $5,000

Is your car eligible for a secured loan with Credit Union SA?

To be eligible for a secured car loan with Credit Union SA, your application will be subject to its normal lending criteria. Generally, your chosen vehicle might need to be:

  • For personal use
  • Less than seven years old
  • A new or used vehicle

Check the PDS (product disclosure statement) for Credit Union SA’s car loan criteria.

Does Credit Union SA also offer personal loans?

Yes, Credit Union SA does offer both secured and unsecured personal loans as well as its car loan products.

The table below displays a snapshot of Credit Union SA’s personal loan products on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on an unsecured loan amount of $20,000 for a three-year loan in SA. Before committing to a particular loan product, check upfront with your lender and read the PDS to confirm whether the terms of the loan meet your needs and repayment capacity. *Read the Comparison Rate Warning.

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What are the minimum loan amounts on Credit Union SA car loans?

You need to borrow a minimum of $5,000 with a Credit Union SA car loan.

What loan terms does Credit Union SA offer for car loans?

Credit Union SA offers loan terms of 1-7 years.

What are the fees on Credit Union SA car loans?

At the time of writing, Credit Union SA charges a once-off $195 application fee on its car loans, and no ongoing monthly fee after that.

How to apply for a Credit Union SA car loan

Before getting started, you might first like to use the Canstar website to compare car loans with other providers before choosing a product that suits your needs.

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Depending on the situation, applying for a Credit Union SA car loan can be straightforward. When applying for a car loan with Credit Union SA (or most providers in Australia for that matter), you may need to meet the following criteria:

  • The car or motorcycle must be for personal use
  • You must be 18 or over
  • You must be a permanent Australian resident or valid work visa holder
  • Currently employed with a stable income
  • Have a solid credit rating and not be bankrupt

In addition, you may also have to meet the minimum loan amounts specified by the provider (see above). You may need to provide documents and ID such as:

  • A current driver’s license
  • Details of your current and previous (if applicable) employer
  • Details of your income, assets, expenses and liabilities
  • Previous tax returns if you are self-employed

You may also require your current account number for Credit Union SA if you’re an existing member.

About Credit Union SA

Credit Union SA says it is South Australia’s third-largest credit union, serving more than 49,000 members across the state and beyond. It was formed in 2009 from when two smaller credit unions, Satisfac and Powerstate, merged and it now manages more than $1 billion in total assets.

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Written by: James Hurwood | Last updated: February 13, 2019