Credit Union Car Loans

Compare credit unions and other top low rate car loan lenders with Savvy.

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, updated on July 4th, 2023       

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Compare credit union car loans

Looking to get a car loan through a credit union? Savvy has partnered with a selection of the top lenders across the country, both credit unions and other major and smaller lenders, to help you secure your ideal car loan. Our expert car finance consultants take your priorities and personal situation into consideration and find a car loan that will benefit you the most. 

Securing the ideal car finance deal isn’t as difficult as you’d think: get a quick quote with Savvy and find out what your best options are today.

Car Loans - Compare Car Loan Interest Rates, Offers & Apply Online

Savvy's car loan features and benefits

Lock in a competitive interest rate

With our lenders offering low rates based on your profile, you can save big on your car loan.

Choose your loan amount

You can apply for amounts ranging anywhere from $5,000 all the way up to your car’s value, affording you access to all types of cars.

Repay over up to seven years

As part of this agreement, you can also elect to repay your loan over a period of between one and seven years (most opt for five).

Customise your loan repayments

Many lenders will also afford you the opportunity to choose whether to pay your loan in monthly, fortnightly or weekly instalments.

Free additional repayments

Our lenders offer extra loan payments free of charge, which can help you save a substantial amount on your finance and shorten your term length.

Fees to look out for

Application fees up to $600 and ongoing fees up to $20 can apply to your loan, as well as early termination fees up to $600 to $900, although some lenders will waive some or all of these, while late payments will cost you up to $50.

Car requirements

Made in Australia or imported by its manufacturer, covered by a fully comprehensive insurance policy and must never have been written off.


Be 18 years or older, hold citizenship or permanent residency, as well as an active driver’s licence, and earn at least $26,000 p.a. (valid streams include PAYG, self-employed and Centrelink)

Why so many customers find their ideal car loan with Savvy

The pros and cons of credit unions for car loans



Credit unions are owned by their members, unlike banks which are owned by shareholders, and can facilitate benefits such as fee reductions.

Competitive interest rates Similarly, interest rates offered tend to be lower, as the profits made by the organisation are injected back into it to reduce interest rates.

Diverse acceptable income streams

Many credit unions accept Centrelink payments as part of your income, provided that the benefits are consistent in conjunction with other income.

Various repayment methods

In addition to direct debits, you can make payments via your phone and online banking or indeed pay in-branch if one is accessible for you (depending on the credit union)


Stricter eligibility criteria

They're also less flexible when it comes to applicant eligibility, as they typically only work with customers who have good to excellent credit and past borrowing.

Higher minimum loan amount

Some credit unions implement higher minimum loan amounts of up to $20,000 for some of their products.

Thinner product selection

Of all lender types, credit unions tend to have the least varied range of products for you to choose from.



How to compare credit union car loans with Savvy

Common car loan queries answered

Can I still access financing for a second-hand car with a credit union?

Yes – however, you may find that there are greater restrictions in place, with most credit unions capping the age of a car under finance at five years old. Savvy partners with a wide range of flexible lenders who are able to provide finance for cars up to 25 years of age, with some not enforcing age limits at all so we have options outside of credit union partners if this is what you require. 

What are my credit union options if they can’t accept my car as loan security?

While there are caps on the age of your car purchased with financing from a credit union, you can instead opt for one of their unsecured personal loan products should you wish to purchase a car outside of these requirements. You'll be able to borrow up to $50,000 under this agreement, with similar repayment terms, but these will often come with higher interest rates than car loans.

Should I apply directly to my credit union for a car loan?

The best way to apply for your car loan to ensure that it meets all of your lender’s specifications is through Savvy. Once you complete your quick quote, our advanced digital platform instantly matches you with the best finance offers for your situation, from which your consultant will compare the available options and present them to you to choose from. Your consultant then handles your application and reviews it to cross-check your details against the credit union’s eligibility criteria, which negates the possibility of an application rejection showing up on your credit file.

Do I have to choose a credit union with branches in my state?

No – with Savvy, we can match you with credit unions from all across the country. Because our process is 100% online, you don’t have to worry about preferencing an institution based in your city, town or state; we’ll help you find the best loan regardless of where you are.  

Do I have to become a credit union member to take out a loan with one?

Yes – in Australia, you become a member of the credit union you borrow with upon signing your finance agreement. You don’t have to have been a member for any set period prior to applying for your loan.

Can I get a loan from a credit union if I’m living in Australia on a visa?

No – credit unions generally restrict their eligibility criteria to Australian citizens and permanent residents in terms of car loan applicants. If you are a non-permanent resident looking for a car loan, though, Savvy can match you with one of our flexible lenders who do accept applications from valid visa holders.  

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