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Secured Car Loans

A secured car loan is a personal or consumer loan product where the financier advances the customer funds for the purchase of a vehicle and secures the loan against the vehicle.

How does a Secured Car Loan work?

  • Under a car loan the financier loans funds to the customer to purchase a car.
  • The customer takes ownership of the vehicle at the time of purchase, and the financier takes an interest in the vehicle as security for the loan.
  • Once the contract is completed, the financier releases their interest on the vehicle, giving the customer clear title.

Calculators

What are my repayments?

How much can I borrow?

At today's lowest car finance rate of 7.98%,

you will pay approximately ...

$142.49
Apply Online Now

At today's lowest car finance rate of 7.98%,

you can borrow approximately ...

$28,128.85
Apply Online Now

The information which you calculate from this Calculator is intended for use by you as a guide only. See more in our Disclaimer.

It is not an offer and has no legal effect on any contracts entered into by you ‘ the client’. This simulation and the resulting calculations do not constitute a loan application or offer. The figures and formulae used within this calculator may change at any time without notice.Should you apply for any Credit One product, we will make our own calculations and we will not necessarily take your calculations into account. All Interest rates are displayed ‘are guides ONLY’, repayments as a result of this simulation have no legal offering.Credit One accepts no responsibility for any losses arising from any use of or reliance upon any calculations or conclusions reached using the calculator.Information provided on this calculator does not constitute an offer of finance. Any loan request is subject to assessment against normal lending criteria. Fees and charges may apply. This calculation does not take into account any fees, charges or government taxes which may apply to either the calculation of the loan amount or the monthly repayments, such as GST or Luxury Car Tax (where applicable).

Credit One Smarter Car Finance Options

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Secured Car Loan

A secured car loan is a type of financing where the lender provides funds to purchase a vehicle and uses the car as collateral for the loan. These often have the lowest interest rates due to the reduced risk for the lender.

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Unsecured Car Loan

An unsecured car loan allows you to borrow funds without offering the car or any other asset as collateral. This allows flexibility on what car you would like to purchase without any collateral guidelines form the lender. Credit One works with lenders to help you secure an unsecured loan with competitive rates tailored to your needs.

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Chattel Mortgage

A chattel mortgage is a business finance product where the financier provides funds for the customer who takes ownership of the vehicle at the time of purchase. The financier takes security “mortgage” over the vehicle. Once the loan is completed, the financier releases the security over the vehicle.

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Novated Lease

A novated lease is an agreement between you, your employer, and a lender that allows you to finance a car using your pre-tax salary. Save on tax while simplifying car ownership through bundling of running costs.

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Hire Purchase

A hire purchase agreement allows business owners to rent the goods through regular instalments with an option to purchase at the end of the hire period. Ownership transfers to the business after the final payment/purchase.

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