goGreen® car loan
We pioneered a different approach to motor vehicle finance when the goGreen® Car Loan was created.
Interest rates on goGreen® Car Loans are determined according to how ‘green’ your vehicle is. The lower the greenhouse emissions from the car you want to purchase, the lower the interest rate.
- low interest rate
- offset 100% of your car's C02 emissions
- free Loan Protection Insurance up to $120,000
- make extra payments without penalty
- automatic salary crediting, and
- flexible repayments
a simple and responsible way to finance cars
We base emissions ratings on the Green Vehicle Guide produced by the federal Government's Department of Climate Change.
Next we offset 100% of your car's greenhouse gas emissions for the life of your loan. We do this via mecu 's Conservation Landbank on your behalf.^
free loan protection insurance up to $120,000
Offering free loan protection insurance is the socially responsible way to lend. In the event of a borrower dying, mecu will pay up to $120,000 off a member's outstanding loan balance.
automatic salary crediting
You can have all or part of your salary automatically distributed to your various mecu accounts. Making your loan repayments is made easy, as each time your salary is credited to your accounts, your loan repayments are automatically paid.
flexible repayments
Making repayments on your loan is easy. You can select from weekly, fortnightly or monthly contracted repayments. Coinciding your repayments with your salary will ensure your repayments are made by the due date. You can make extra unscheduled payments at any time without penalty too!
rates
| new car or demonstrator model under 1,000 kms |
6+ |
8.24% |
8.42% |
| new car or demonstrator model under 1,000 kms and new motorbikes |
less than 6 or N/A |
8.99% |
9.17% |
| used motorbikes or used cars that are 7 years old or less |
greenhouse rating does not apply |
9.49% |
9.67% |
goGreen® Car Loan Significant Terms and Conditions
- New loans come with free Loan Protection Insurance up to $120,000 for eligible borrowers.
- Variable interest rates apply to personal loans and goGreen® Car Loan products.
- $125 establishment fee applies on the goGreen Car Loan.
- Maximum term of 7 years for goGreen® Car Loan.
- Minimum amount $1,000.
- Revolving credit facilities require a minimum monthly payment, as per various contractual arrangements.
- Full terms, conditions, fees and charges are available on request and on application. Contact mecu for further details.
* The comparison rate is based on a secured loan of $30,000 for 5 years. Fees and charges may be applicable.
^mecu offsets greenhouse gas emissions from your car each year for the term of the loan. The level of offset is in accordance with advice from Greenfleet that a car generates an average of 4.3 tonnes of C02 per annum. This offset is provided by mecu planting 17 trees a year for each year of the loan. These trees which will absorb the equivalent of 4.3 tonnes of C02 each year will be planted into the mecu Conservation Landbank located in Northwest Victoria according to the land management plan developed and implemented by Landcare Australia .
