The Drive On Car Loan from Community CPS presents an extremely competitive fixed interest rate of just 7.99% (8.15% comparison rate1) and includes a special offer whereby we'll give you a loan benefit equal to 10c per litre of your petrol purchases for the first year of your loan (up to $312).
What can I borrow?
Your loan can be for between $10,000 - $50,000 for a motor vehicle up to 3 years old that is purchased either through a private sale or from a licensed motor dealer. A bill of sale must be provided as security for the loan.
A 10% deposit (trade in value or cash) is required; therefore a contract or agreement for sale is to be supplied at time of application. If you haven't chosen your vehicle yet, please note that 90% of the vehicle's value (based on current Glass' Guide retail values) will be lent.
You can also switch into this loan from another lender provided the car is less than three years old and there is at least 20% equity in the vehicle (based on current Glass' Guide Retail values).
Community CPS will not pay arrears or any penalties charged by another financier for an early payout if you are refinancing another loan.
Loan terms are available from 1 to 5 years.
A $100 application fee and $16.50 REVS fee apply.
How does the petrol discount offer work?
The petrol vouchers will be valid for the first year of your loan. Please note that if your loan is paid out within the first 12 months, all remaining vouchers will become invalid.
You will be sent 52 vouchers after the loan has been approved, which will entitle you to a maximum loan benefit of $312.00 for the first year of your loan. You can claim the loan benefit on up to 60 litres per fuel purchase, per voucher.
To claim the saving you must present a valid CPS voucher with a single receipt for the fuel purchase. The receipt for your petrol purchase must be dated within the first year of your loan. There is a limit of one receipt per voucher. There is no limit to how many vouchers can be claimed at the any one time.
The money will be credited to a savings account nominated by you.
If you require your petrol receipts for taxation purposes then you can either obtain two copies at the time of purchase from the service station or make a photocopy. Community CPS will require the original copy.
To apply for this great offer click here, contact Community CPS on 02 6286 0555 or come in and see us at your local branch.
Community CPS... giving more life to your loans.
This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate buy may influence the cost of the loan.
CPS lending and assessment criteria apply. All loan applications are subject to approval. Terms and conditions apply to all loans and are available on request. Fees and charges apply to loans and are detailed in the Fees and Charges Booklet. A $100 loan establishment fee applies to all loans (except Visa Line of Credit).
1Comparison Rate calculated on a loan of $30,000 over 5 years, based on monthly repayments.