Looking at a Greater Bank car loan? Read about its key features before you apply right here with Savvy.
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Greater Bank, formerly known as Greater Building Society, is an Australian mutual bank offering a variety of financial services across lending, banking and insurance for individuals and businesses.
One of the many products on offer at Greater Bank is a car loan, which enables eligible borrowers to purchase their next vehicle, so it may seem like the sensible option to go with them if you’re already a customer.
However, it’s always important to compare car loans and know exactly what you’re getting when you sign up, which is why Savvy is here to break down car loan offers and make it easier for you to make an educated decision on which product is right for you.
*Please note that Savvy does not represent Greater Bank for its car loan product. All information in this article is correct as of 29 July 2024.
The Greater Bank new car loan offers highly competitive rates starting from just 5.99% p.a. (6.37% p.a. comparison rate), giving you a great shot at locking in an affordable deal.
You can borrow for big or small purposes, with luxury cars in the fold up to $100,000 or less expensive ones with sizeable deposits enabling you to borrow as little as $5,000.
You’ll be able to secure a flexible loan term from as little as one year all the way up to seven, allowing you to tailor your repayments to suit your financial needs.
You can also choose whether to make monthly, fortnightly or weekly repayments as part of your car loan, so you can ensure they align with how often you get paid.
Ongoing fees can add up over the life of your loan, particularly if you’re on the longer end of the scale when it comes to your loan term, but you won’t need to worry about them here.
You can pay above and beyond the minimum required amount as part of your car loan and access the additional funds down the track without having to pay a penalty when you redraw.
Although many car loans will charge you an early repayment penalty if your loan payments are completed ahead of schedule, you can do so free of charge with Greater Bank.
You’ll be able to get finance to purchase a vehicle new with a New Car Loan or used with a Secured Personal Loan, giving you a range of options to choose from.
You can also apply with your partner or another close relation to co-purchase your vehicle, which can improve your chances of securing an affordable loan deal.
You’ll have to pay an establishment fee of $275 upon the opening of your loan account, as well as other potential fees which may apply across your finance term.
The minimum rate advertised is only available for new cars or demo models with under 5,000km on the odometer. As a result, you won't be able to use this product if your car doesn't meet these requirements.
As part of the bank’s eligibility criteria, borrowers must live in New South Wales, Queensland or the ACT to finance their car, cutting off potential options from other states and territories.
There are various types of documents which you’ll need to supply as part of your car loan application to Greater Bank. It’s important to have all of these in advance of your application to ensure it runs smoothly. These include:
Proof of identity
You’ll need to supply one of:
Proof of income
If you’re a PAYG employee, you’ll need to supply evidence of income deposited into your account from the past three months and one of the following:
If you’re self-employed, you’ll need to supply:
If you receive income from other sources, you’ll also need to supply adequate documentation of these. The following may be included:
Information on liabilities
You’ll need to show evidence of any outstanding debts as part of your car loan application, which may include:
Information on expenses
On top of this, you’ll be required to supply one of the following if you’re renting a property:
Information on your vehicle
Various documents will also be required in relation to your vehicle, which will include:
The application process may seem complicated, but it doesn’t have to be. By applying with Savvy, you can gain access to a wide range of more than 40 lenders and expert guidance from our diligent consultants to maximise your chances of getting approved for the best car loan. You can apply with us today and drive away in your new car in as few as 48 hours.
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Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
