I took out a car loan at 18 years old which was one of the worst financial decisions I have made in my life so far. Considering my naivety I was hungry for the loan immediately and did not have the knowledge or understanding of this kind of decision. When choosing my loan I was not given appropriate advice. The attendant I spoke to at Commbank didn't offer advice as to whether a fixed or non-fixed rate would suit my loan best and instead advised me to "just pick whatever, it doesn't matter". It did hugely matter and I ended up with a very small initial loan bloated into an out-of-control sum of money I cannot pay back for another 5 years as per the terms of my loan. I still use commbank for my everyday banking but I would say their loan system is ethically problematic and more financial counsellors should be available, particularly for young people without much banking experience.
Reliable and are helpful with resolving problems
Only one very forgiving when comes to overdue payments. All takes is a friendly phone call to my commonwealth bank to state my delayed payment.
Great as long as you work their times here in Wellington NSW
Saw my local bank for car loan, proved less 48hours, all repayments, fees and charges explained, able to pick up my new car in less than a week after picking what I wanted. No fuss bank handled all details with car company.
It took a long time to have my fixed car loan approved as they needed evidence of my entire tax history.
I have been using this bank for years now and I trust the bank.
Ripped me off by overcharging me for insurance and ONLY paid it back once they were caught out by the royal commission!
Commonwealth bank simply has terrible customer service. Not only is it hard to get in touch with them, but when you do, the staff is generally rude. Most problems are actually caused by the untrained staff themselves and this is abysmal, considering the huge profit margins they must be running at, by refusing to pass on rate cuts to the customer. Terrible service by Commonwealth Bank.
I have a great relationship with CommBank, they are always helpful and never push products that we do not need. They are my first stop for any banking products I may need.
I took car insurance for my new Tesla X online yesterday. Today I had to call and confirm some details to activate. I liked CBA car insurance as I have had my accounts with them for 20 years, and they were interestingly half the price than other insurers. I was waiting for the catch. I rang to give the info (granted it was 5:25pm), only to be told "we are not offering you insurance as you are not "exceptional", no explanation. Not sure what this means, but the girl was chewing gum as she said it. We don't have our mortgages with CBA, but have done all other banking with them forever. We will make a move to Bendigo this week, let's hope they are still small enough to see us for real people. I was so insulted - how about spitting out the gum and trying to pretend that we are all just people. I guess half price insurance and faceless staff, you get what you pay for.
It's always been easy with CommBank.
I like the Commonwealth Bank because I have had all my banking with them, they have always been very helpful to me and my family.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 7.29% would cost $36,387.95 including fees.
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.24% would cost $35,880.27 including fees.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 8.49% would cost $37,420.08 including fees.
WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured 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 but may influence the cost of the loan.
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