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The Finance Plug



Secured car loan

Whether you’re finally treating yourself to an upgrade or purchasing your very first car, chances are you’re looking into car loan providers in Australia. While there are a range of options for auto finance in Australia, one popular choice among borrowers is secured car loans.

What is a secured car loan? A secured car loan is a type of car loan where the bank or lender has security over your asset. This means that in the case anything were to happen, and you weren’t in a position to make your repayments, the bank or lender would be able to repossess your vehicle and recuperate the money that’s left outstanding. Like any other loan product, secured car loans feature an interest rate, fees, a fixed loan term and other loan features that can help you with your repayments. 

Whilst it may seem daunting, there are some great advantages that come with this type of loan. With the added peace of mind of asset security, lenders have more confidence and offer some key benefits.

How lenders determine whether to secure an asset — what you need to know

Lenders will secure assets purchased from private sales, dealerships and also third-party auction houses dependent on the age of the asset and your overall profile. If you are planning on purchasing a vehicle that’s over 15 years old at the time of sale, a Personal Loan might be the better option. This is because the lender wants to make sure the asset holds its value for the time you have the loan secured against the asset.

Why work with a car loan finance broker

If it’s your first time shopping around for car loans, it won’t be long before you realise there are several to choose from. With varying rates, fees, loan conditions and structures, Australian borrowers are spoilt for choice. However, an influx of Australian auto finance options can make searching for the right loan more difficult. That’s where the assistance and guidance of an experienced car loan finance broker comes in.

Car loan finance brokers take the hassle out of finding the right car loan by doing all the hard work for you. They scour the market, utilising their solid network of lenders to source the most competitive secured car loan for your personal circumstances. They can also guide you through the entire secured car loan process, from filling out the application to settlement.

The Finance Plug — plugging you in with the right lender every time 

If you’re looking to work with a professional car loan finance broker, look no further than The Finance Plug. With a roster of over 70 lenders and financial institutions, we can find the right secured car loan for you. We take a customer-focused approach to every client we work with to ensure you walk away with your dream car and car loan.

Learn more about the Australian car loan providers we work with by contacting us today.

Finding a better interest rate to save your overall interest charges
Extending your loan term if your current repayments are taking up too much of your disposable income
Going from a variable interest rate to a fixed rate
Adding flexibility by restructuring your loan
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