Unity Bank Green Car Loan

SecuredFixed or Variable rate

A car loan to reward members with a low rate for choosing an eco-friendly, lower emissions car

Monthly repayment

$20,000 over 1 year

What it would cost

At the lowest published rate of 6.49%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

BorrowOver

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

Comparison rate

6.49%

From 6.49%. A typical loan starts at 7.99%.

Most you can borrow

$150,000

Typically you can borrow up to $130,000.

Longest term

1 year

7 years is the usual longest term.

A lower starting rate. Its comparison rate starts at 6.49%, below the typical 7.99%, and the comparison rate counts the standard fees too, so it's a fair guide to a lower overall cost.
Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
Redraw. You can take back extra repayments later if you need the money.
No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 6.49% to 10.00%, and only some people get the starting rate.
Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
A $15 late payment fee. Setting up automatic repayments avoids it.

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