The Mac - Used Car Loan
Secured | Variable | Cars up to 4 years old
The Mac offers the Used Car Loan which will have a comparison rate from 9.67% p.a. and an advertised rate from 9.29% p.a. The borrowing range will be between $1,000 and $100,000 with a loan type of Secured. The Mac Used Car Loan will also be a Variable rate loan with loan repayment terms between 1 and 7 years. This loan has establishment fees starting from $250.
More The Mac Used Car Loan details can be found below or visit The Mac to learn more or apply.
A Secured loan with an advertised rate of 9.29% p.a. and comparison rate of 9.67% p.a.
Advertised Rate
9.29% p.a. Variable
Comparison Rate
9.67% p.a.
Loan Term
1 to 7 years
Borrowing Range
$1,000 to $100,000
Interest
Rate Type
Variable
Advertised Rate
9.29% p.a.
Variable
Comparison Rate
9.67% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Vehicle
Loan Terms
Loan Term
1 to 7
years
Borrowing Range
$1,000 to $100,000
Repayment
Monthly, Weekly, Fortnightly
Features
Extra Repayments Allowed
Yes
Redraw Available
Yes
Fees
Establishment Fee
$250
one off
Loan Service Fee
$0
per month
Early Repayment Fee
$0
per event
Who is the product designed for?
This product is suitable for retail clients who:
- are seeking a loan for a used car, caravan, boat or motorbike
- are aged 18 years or more and meet the credit assessment criteria for the product
- are able and willing to offer acceptable security for the loan so as to secure a lower interest rate
- need the flexibility to make additional repayments and a contractual right to redraw advance repayments as required
Visit The Mac to view Target Market Determination Effective From: 2021-10-01.
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