Northern Inland Credit Union - Used Car Loan
Secured | Fixed | Vehicles up to 10 years old
The Northern Inland Credit Union Used Car Loan has a loan repayment term of between 1 and 5 years and a comparison rate starting from 10.32% p.a.. This loan will be Secured with a Fixed interest rate. The Used Car Loan has advertised interest rates starting from 9.49% p.a. as well as a borrowing range of between $5,000 and $100,000.
More Northern Inland Credit Union Used Car Loan details can be found below or visit Northern Inland Credit Union to learn more or apply.
An advertised rate of 9.49% p.a. and comparison rate of 10.32% p.a. The loan type will be Secured.
Interest Rate (p.a.)
9.49%
Comp. Rate (p.a.)
10.32%
Loan Term
1 to 5 year
Borrowing Range
$5,000 to $100,000
Interest
Rate Type
Fixed
Interest Rate (p.a.)
9.49%
Comp. Rate (p.a.)
10.32%
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Vehicles up to 10 years old
Loan Terms
Loan Term
1 to 5
year
Borrowing Range
$5,000 to $100,000
Repayment
Monthly, Weekly, Fortnightly
Features
Extra Repayments Allowed
Yes
Redraw Available
Yes
Fees
Application Fee
$200
one off
Loan Service Fee
$8
per month
Who is the product designed for?
The customers of this target market are likely to have the following objectives, needs, financial situation and eligibility criteria for this product:
Objectives and Needs
- Requires a loan for any purpose or for the purchasing of a used vehicle (up to 10 years old) for personal use.
- Requires a short to medium term personal loan and willing to provide a used vehicle vehicle (up to 10 years old) as security in exchange for a lower rate.
- Have a small fee to access the loan and low ongoing fees.
- Make flexible repayments.
- Pay off their loan quickly
- Consistency and certainty of a fixed interest rate and ongoing repayments
Financial Situation
- meet NICU’s credit assessment criteria which includes demonstrating the capacity to make the required repayments without substantial hardship
- can choose a loan amount typically between $5,000 and $100,000.
Eligibility Criteria
To hold this product, customers must be:
- at least 18 years of age
- a permanent resident of Australia
- employed or receive regular income
- able to meet NICU’s credit assessment criteria
- able to demonstrate substantial benefit in a joint application scenario
- willing to provide the used vehicle vehicle (5-10 years old) as security in exchange for a lower rate
- able to demonstrate that the used vehicle is for personal use only
Visit Northern Inland Credit Union to view Target Market Determination Effective From: 2025-09-24.
A company registered in England and Wales. Registered number: 12719978.
- ADDRESS
- SAVRR Group Ltd,
- Exchange Street Buildings,
- 35-37 Exchange Street,
- Norwich,
- NR2 1DP.
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