The Finance Algorithm
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Used Cars

Variable - Principal and Interest - Cars over 5 years old

Personal loansBank updated 6 July 2026
Apply at Laboratories Credit Union ↗Product page ↗Fees and pricing ↗Terms ↗

At a glance

Variable
10.50%10.79% comparison
Loan size
$1,000 to $50,000
Upfront fee
$200

How it compares

This personal loan in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.

This personal loan: 10.50%Every other institution's lowest, 41 in all

Lowest advertised rate, fixed or variable. One dot per institution, at its lowest car loan rate from a bank or lender anyone can apply for; hover or tap a dot for its name.

RateThis personal loanBest anywhereTypical institutionWhere it sits
Car loan from a bank or lenderLowest advertised rate, fixed or variable10.50%5.74%Westpac's Car Loan6.99%of 42 institutions39th lowest of 42

Rates

The one rate LCU publishes for this personal loan.

TypeApplies toTermBandRateComparisonConditions
VariableInvestment, Interest only--10.50%10.79%-

Fees

5 fees published, grouped by when they're charged.

When you take it out1

  • LOAN_APPLICATION_FEE
    $200

When particular things happen4

  • EQUIFAX_CREDIT_CHECK
    $20
  • PPSR_AMENDMENTS
    No fee
  • PPSR_ENQUIRY
    $3.40
  • PPSR_REGISTER
    $6.80

Features

RedrawInstant paymentsPayIDDigital bankingUnlimited transactions
  • Additional repayments and early payout. Unlimited additional repayments and early payout options without penalty
  • Automatic repayments. Weekly, fortnightly or monthly
  • No ongoing fees. No annual, monthly or weekly fees
  • Interest calculated daily and applied monthly
  • Automatic repayments can be set up from salary, LCU account, or external account

Eligibility and limits

  • Minimum age 18
  • Residency: At least one borrower must be an Australian resident
  • Employment: Income required to service loan. Applicant must meet LCU lending criteria
  • Available to individuals
  • Amount $1,000 to $50,000
  • PPSR on fully insured car
  • Shareholder. Must be a shareholder owning a $10 share. Each shareholder holds an equal share regardless of their balance. Shareholders have a say in how we are run. "Own your Bank". $10 share is refu…
  • Eligibility. To be eligible to borrow you must be referred by a family member or friend who already has an account with LCU. Alternatively you may be eligible to join if you: work or live in the grea…
  • Maximum loan term 10 years

Published by Laboratories Credit Union under the Consumer Data Right, last changed by them on 6 July 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.