Finty
SCCU

SCCU Business Vehicle Loan

Equipment finance

Loan to buy new or demo business vehicle up to 4.5 tonne GVM, $20-150K with vehicle taken as security over the loan.

Written byDavid Boyd
Interest rate a year, from
7.60%
Establishment fee
Not published
Monthly fee
Not published
Borrow
Not published

Monthly repayment

$100,000 over 5 years

Apply now

What it would cost

At the lowest published rate of 7.60%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,009
Total repayments
$120,513
Interest
$20,513

Loan details

Rates

Interest rate (a year)
7.60%
Rate type
Fixed
Security
Not published
Type of finance
Equipment finance

Limits and fees

Loan amount
Not published
Loan term
Up to 5 years
Establishment fee
Not published
Monthly fee
Not published

How it compares

Against the other business loans we compare. Typical means the middle half of them.

Cost of $20,000 over 5 years

$4,103

Interest and fees at its starting rate. Typical is $4,272.

Longest term

5 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 7.60%, so the rate you see is the rate you get.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.

Cons

Nothing stands out.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.