Buying a car with finance, but you don’t want to use it as security? Want greater flexibility than secured personal vehicle financing offers? No collateral to get approved for secured credit? Ask us about our competitive rates and flexible terms for motor vehicle finance without security.
Collateral-free vehicle financing can be hassle-free and time-free with Jade. With the many variations across the lender market, using our expert services to find you the right lender, may result in the right unsecured vehicle lending to suit your specific scenario.
Our specialist brokers match you and your vehicle with the right lender and source the most competitive rates and suitable terms and conditions. Explore your options by contacting us or just submit your application online for fast approval.
So what exactly is vehicle lending without security? It is personal finance to purchase a motor vehicle without the vehicle being offered as security or collateral against the funding. The vehicle is not required as security, neither are other assets which are owned by the applicant.
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Without security or the assets of the applicant provided as collateral, lending is approved based on the creditworthiness of the applicant. Lenders assess credit histories and scores. A high credit score is required to get approved and receive the best interest rate offers.
Due to the lack of collateral, interest rates are typically higher than for secured lending products. Terms, lending limits and special conditions may be applied, subject to lender guidelines. As approval is based on ability to pay and creditworthiness, lenders may set an upper limit for how much they will approve to individual applicants.
Without the vehicle provided as security, if the borrower defaults on the commitment – fails to meet the repayment schedule – the lender is not in a position to repossess the vehicle. They will report any defaults to credit agencies and can take action through the legal system to recoup the monies owed on the debt.
If you have a great credit score but are asset-poor or do not want to use the vehicle as security, this may be an option for you. Request a quote to see how affordable collateral-free vehicle financing may be for you.
Our guides offer quick comparisons and simple explainers to help you cruise through the financing process with confidence.
Collateral-free vehicle financing can provide benefits to suit many buyer scenarios. It can provide affordable credit to purchase second-hand and used cars that are not deemed as suitable security by lenders. Credit can be approved for buyers to purchase classic vehicles and restoration projects.
Financing without asset security may provide opportunities for asset-poor, high-credit score buyers to achieve affordable funding. Get financing for part of the purchase price of the vehicle where a sizeable trade-in or deposit is made. If only borrowing a percentage of the vehicle’s value, a buyer may not want the entire vehicle available as collateral. A collateral-free product may provide the ideal solution.
While rates are higher than for secured products, using our expert broker services, buyers can achieve the best rates from across 80+ lenders. Sourced and negotiated individually for their specific circumstances. Flexibility with fixed or variable rates and with additional payments on variable rate loans not attracting break fees.
Let’s get started on a flexible unsecured solution for you.
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THE COMPARISON RATE IS CALCULATED ON A SECURED LOAN OF $30,000 FIXED FOR A TERM OF 5 YEARS, EFFECTIVE 21/02/2026 AND SUBJECT TO CHANGE. WARNING: THE COMPARISON RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT COMPARISON RATE.
Interest rates on collateral-free lending vary across the motor vehicle lending market. Buyers can engage the services of a specialist motor vehicle lending broker to source the best interest rate and offer from across many lenders.
Approval for vehicle finance can be granted without the borrower offering the vehicle or other assets as security for the funding. Approval is given based on the creditworthiness – the credit rating, score history and ability to meet the lending commitments.
Financing without collateral is approved based on a high credit score, good credit history and solid income to repay the debt. Approval criteria can vary across the lender market.
Financing a vehicle without collateral means that the vehicle or other assets are not offered as security against the credit borrowed. The lender cannot repossess the vehicle if the borrower defaults on the credit but can sue to recoup funds.
Secured funding typically uses the vehicle being bought as the collateral for the financing. Lending without security does not use the vehicle or any other assets owned by the borrower. Without security, applications are approved based primarily on the creditworthiness of the applicant and ability to repay the debt.
