What is a secured loan?
A secured loan is the most common form of personal vehicle finance.
The lender gives you the funds to buy a vehicle and holds a mortgage over it as security for the loan. As long as you make regular repayments, you’ll own the vehicle outright at the end of the loan term.
You can use a secured loan to finance a car, caravan, boat, or motorcycle.
What are the benefits?
With a secured loan, you’ll enjoy lower interest rates and fixed repayments for the life of the loan. Even if you’ve got a bad credit record, we can usually find a loan that’s right for you.
Features of a secured loan
- New or used vehicles
- Flexible loan terms, from 1-7 years
- Fixed interest rate
- Weekly, fortnightly, or monthly repayments
- Residual value or “balloon” payment options
- Cash deposit/trade-in or 100% finance.