Secured Personal Loans

Use your Car, Motorbike, Boat or Caravan as security for a lower interest rate.

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Get a lower interest rate by offering your purchase as security.


Personal loans come in many shapes and sizes. One type of personal loan is a secured loan. What is a secured loan, you ask? With a secured loan, the borrower must use an asset, such as a car, boat or caravan, as security. The main advantage of doing this is that the lender will often reduce the interest rate on the loan.

NOW Finance offers secured personal loans with interest rates between 1 to 2.5% lower than the rates on unsecured loans. This allows you to save a significant amount of money.

Secured loans can be used for many different things. You can buy that car, boat, caravan, motorhome or motorbike you’ve always dreamed of, using the item as security. Secured loans are also ideal for funding other projects, you can use an asset you already own as security. However you choose to use a secured loan, NOW Finance will make the experience easy, hassle-free and tailored to your budget and lifestyle.

How do secured loans work?


The security you provide on a secured loan isn’t limited to an eligible asset you already own. You can also use the asset you are buying with the loan as security — whether it’s a new vehicle, boat or caravan. You can also use a secured loan for various personal projects, including travel, weddings and home improvements. If you don’t have any eligible assets for a secured loan, you can opt for an unsecured loan. The interest rates will be higher, but you won’t need to put up anything as collateral. Explore more about how it works when you apply for a personal loan with NOW Finance.

Benefits of a secured personal loan

The advantages of NOW Finance’s secured loans include:

  • You get a more competitive interest rate because you are a less risky borrower. If you have a high credit score, you may be able to get even lower interest rates.
  • You can borrow up to $100k.
  • NOW Finance’s terms for secured loans range from 1.5 to 7 years.
  • You don’t have to pay any fees. This includes no establishment fees, no monthly fees, no fees for extra repayments and no early repayment fees.
  • Because we don’t charge fees, you can easily compare NOW Finance with other lenders.
  • You get a more flexible loan.
  • Great customer service. You’ll get your very own personal loan advisor to help you navigate all stages of the loan process, from application to settlement.
  • You get a fast, hassle-free application and settlement process.

See some other reasons as to why NOW is an excellent choice for a secured loan.

Drawbacks of secured personal loans


As with any loan, there are always a few pitfalls to be aware of. With a secured loan, you should bear the following in mind:

  • If you can’t meet the repayments, the lender can repossess or seize the asset you put up as security.
  • If you wish to use an existing asset as security, you must already fully own the asset.

NOW Finance will work with you to help you decide if a secured personal loan is right for you. Use our repayments calculator now to see if you’ll be able to meet the repayments on a secured or unsecured loan.

Eligibility for a secured personal loan


You can apply for a NOW Finance secured loan online today — it takes about 10 minutes. See our eligibility criteria before you get started.

Are you ready to get a secured personal loan for your next project or big purchase? Call NOW Finance today to make it happen.

Loan Terms

Loan repayment terms range between 18 months to 7 years with interest rates ranging from 4.45% p.a. (4.45% p.a. comparison rate*) to 15.45% p.a. (15.45% p.a. comparison rate*).

Cost of the loan

Your interest rate is based on several factors including your credit score. Interest rates for secured loans range from 4.45% to 15.45%. Due to the fact NOW Finance does not charge any establishment, account keeping or early repayment fees, the true cost of the loan, or Comparison Rate, will always equal the interest rate quoted. Click here to get your own personalized interest rate without any credit checks.

Loan Repayments

We have made it easy to work out your repayment amount. You can use the calculator below by entering the desired amount, total loan term and your approximate credit rating along with your preferred repayment frequency and we will work out your repayments for you.

Credit History

Higher credit scores show lenders you are a lower risk compared to people with lower credit scores. Borrowers with higher credit scores may be eligible for lower interest rates.
If you have your credit score, you could get a more accurate picture of what interest rates are available to you. Please click here to read more about credit scores.

Lending Criteria

For secured personal loans less than $50,000 our usual lending and eligibility criteria applies – you can find our more here. For secured personal loans between $50,001 and $100,000 additional eligibility requirements apply. Secured loans may require additional documentation, your personal loan advisor will help you through the process.

Joint Loans

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Secured Personal Loans

Use your Car, Motorbike, Boat or Caravan as security for a lower interest rate...
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Once approved, you could get funds in your account in 24-48 hours

Our application process is easy

Eligibility Confirmation

We confirm your eligibility

Repayment capacity

We check your repayment capactity

Documentation and ID

We check your ID to make sure it is you

Receiving your funds

Nominate a bank account for deposit

Get your personalised rate in less than 2 minutes