Secured Car Loans

What is a secured car loan?

A Secured Car Loan is a personal finance loan where the loan provider lends you the customer funds to purchase a motor vehicle and secures the loan against the vehicle.

How does a secured car loan work?

You the customer are the owner of the vehicle, the financier takes an interest in the vehicle as security for the loan. Once the loan has been repaid the financier removes their interest in the vehicle.

Secured Loan Features

  • Flexible contract terms ranging from 12 to 84 months (one to seven years)
  • A balloon value can be applied to the contract enabling the monthly repayments to be tailored to a budget
  • Choice of fixed or variable interest rates
  • A tax deduction may be available when the vehicle is used for business purposes
  • The loan is secured against the vehicle, allowing lower interest rates