What is a Secured Car Loan?
In this type of loan, the lender takes security against the amount they’re lending you. Generally, the security is the car which you’re applying the loan for.
Why choose a Secured Car Loan?
FIXED & LOWER INTEREST RATES
By using a vehicle as collateral for the loan, lenders also face a lesser risk. This means we could negotiate a much lower interest rate for you compared to other loan types. Moreover, in a secured loan using car as collateral, we could also broker a fixed interest rate. This means you’ll know what your exact repayments will be for the life of the loan. To give you an idea of how much your repayments may be, you can use our Loan Calculator.
HIGHER LOAN LIMIT
By using a vehicle as collateral, lenders could let you borrow a higher amount. Think around $100,000. Depending on your desired car’s cost, this can already cover the deposit. This means you don’t have to shell out any amount to get your dream car.
EXTRA REPAYMENTS ALLOWED
In a secured loan using car as collateral, you may be able to make extra repayments without any charges or fees. By making extra repayments, you can pay less for the remainder of the loan as it reduces the interest on the balance left.
NOTE: Loan terms may differ depending on the assessment of a person’s financial profile.
Why Finley Finance?
Finding the best secured loan using car as collateral can be overwhelming. To help you with this, we’ll compare the rates & lending criteria of our partner lenders. We’ll help you find options that fit your needs & finances.
Then once you’ve chosen the best option for you, we’ll help you get approved to get a loan using the car as collateral. We’ll assist you with the documentation required. Once we’ve got everything we need, we’ll apply on your behalf. We’ll give you regular updates throughout the entire process.
No car in mind yet? We can help!
Other than striving to help you get a loan using the car as collateral, vehicle selection is also something we can assist you with. We can help you find the perfect car based on your needs & finance approval. Just let us know.
Got bad credit? Not a problem!
We know that certain events in life can badly impact one’s credit rating. If this applies to you, you don’t have to worry. We could help. We also specialise in
Bad Credit Car Loans.
How to get a quote? It’s easy!
To get a quick quote, just click the button below. Alternatively, you can also call 1300 945 332 .