Finty
ŠKODA Financial Services

ŠKODA Financial Services Consumer Loan

Fixed rate

A consumer loan is a straight forward option for people who use their cars for predominantly personal use. It allows you to borrow 100% of the funds needed to purchase a new car. You make regular repayments back to ŠKODA Financial Services to pay back the money you borrowed.

Written byDavid Boyd
Interest rate a year, from
8.94%
Comparison rate, from
9.68%
Establishment fee
$520
Monthly fee
Not published
Borrow
Not published

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 8.94%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$635
Total repayments
$22,876
Interest
$2,876

Loan details

Rates

Interest rate (a year)
8.94%
Comparison rate (a year)
9.68%
Rate type
Fixed
Security
Not published

Limits and fees

Loan amount
Not published
Loan term
Up to 5 years
Establishment fee
$520
Monthly fee
Not published

How it compares

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

Comparison rate

9.68%

From 9.68%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$5,395

Interest and fees at its starting rate. Typical is $5,513.

Setup fee

$520

A typical setup fee is $150.

Longest term

5 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.94%, 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

  • A higher setup fee. $520, above the typical $150. It's usually added to the loan, so you pay interest on it too.
  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
  • A $35 late payment fee. Setting up automatic repayments avoids it.

Similar loans

Personal loans from other lenders that start at a similar comparison rate.