Get a lower rate by offering your purchase as security.
NOW FINANCE offers you the choice of a secured personal loan to fund the purchase of a car, motorbike, caravan, or boat. A secured loan means putting up something of value as security – usually the item you’re purchasing – against the loan. In return, we lower the interest rate compared with similar unsecured loans. However, if you do not pay back your loan, this means forfeiting whatever you put up as security.
Secured loans might seem complicated; it’s why we give you an Australian-based personal loan advisor to help you through the process and answer all your questions.
- Loan rates from 7.95% p.a. (Comparison Rate – 9.59%)* to 15.45% (Comparison Rate – 17.57%)*
- Valuation of security offered is based on our internal estimates
- To be eligible for a secured loan, your collateral must be value not less than 33% of the loan amount. Eg – For a $20,000 loan, the value of the security provided must be at least $6,667. Specific rules for each type of vehicle applies.