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For individual buying a car for personal use, a Personal Secured Car Loan is the most popular option. It suits most people, most cars, is straight-forward and includes Jade’s cheap interest rates. While you might be tempted to simply apply for car loan through your bank or just accept the finance offered by the car dealer – stop and think. Jade Finance offers significant benefits over these options which will save you time, hassle and most importantly, money.

As your personal finance broker, your Jade Finance consultant has the experience, negotiating skills, expertise and bargaining power to secure you a cheaper car loan. No cookie-cutter, tick boxes car loans with Jade. We know how to present the most positive aspects of your application so you receive the cheapest offer and we tailor the secured car loan to suit your requirements.

Key Features

  • Jade’s cheap interest rates assurance.
  • Interest rate fixed for the term of your car loan so you have confidence moving forward with your life plans.
  • The monthly repayments are set to suit your budget and fixed for the full term of the car loan period.
  • No deposit is requested by the lender.
  • You may include on-road costs, rego and other expenses relating to the car purchase in the overall loan amount.
  • Term of the loan, ie the number of years you will be paying it off, is fixed. Your Jade consultant will negotiate with the lender to achieve the term and repayments that you want.
  • Lender uses the car as collateral security against your car loan while you have full use and ownership of the car from the date the loan and purchase is completed. The security is registered with relevant authorities and released when you have finalised all payments. If you default on your car loan, the lender has the right to repossess the vehicle to recover any outstanding monies owed.
  • You are responsible for rego, insurance, maintenance and other expenses.
  • Additional payments can be made so you pay your car off earlier than the fixed term.
  • You can decide to pay out the car loan before the agreed loan term. In this instance, minimal ‘break fees’ will apply. This is a fee charged by the lender for ‘breaking the loan agreement’. If you think you might choose to do this in the future, ask your Jade consultant for details.
  • Suitable for new and used cars.
  • Suitable for cars purchased from an authorised dealer, private seller or at auction.

Your Jade Finance consultant can assist with the paperwork and other issues including REVs checks, interstate issues if buying an out-of-state vehicle and can organise pre-approved finance to give you greater confidence when dealing with private sellers or buying at auction.

Trying to decide how much you’ll pay for the car you want? Use our online calculator for a repayment estimate. You can use if for as many cars as you’d like to compare.

Speak with a Jade Finance Consultant to discuss a secured car loan for your car purchase. Call 1300 000 003

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Request a free finance quote by calling 1300 000 008 or directly online.

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Secured Car Loans FAQs

The Secured Vehicle Loan is the most commonly used type of loan for people buying cars for personal use. The format is straightforward and relatively universally accepted throughout the motor vehicle lending sector. It is quite simple in structure but that does not mean that there will not be questions you have around specifics and details. So we have singled out a selection of queries and if you have any more, please do not hesitate to email us or just give us a call on 1300 000 008 and one of our consultants will assist you.

What does secured mean?   

The secured reference in Secured Vehicle Financing refers the security or guarantee of the loan. With this type of loan, the lender who is giving you the loan, uses the vehicle you are buying as security against what you are borrowing. The automobile is the security which is why this is a secured loan. If the borrower defaults or fails to make the scheduled repayments, the lender holds the right to repossess the automobile and sell it to recoup what is owed to them.

 

While the lender has security over the vehicle, the borrower has full use of the vehicle and is responsible for all costs such as insurance, registration, fuel, repairs and maintenance. Once all the payments have been made and the loan finalised, the lender releases the security.

Can I get 100% of the car purchase price?   

Borrowing 100% of the purchase price of a vehicle can be referred to as a no deposit car loan. Many car buyers do not want to use their existing cash reserves on a deposit and with interest rates so low on loans, it can make a lot of sense to borrow 100% of the purchase price of the vehicle. If that is your preference, your Jade Finance consultant will work towards achieving you a loan for 100% of the purchase price. But with all loans treated on an individual basis, the outcome will depend on your loan application , your credit profile and the value the lenders associate with the security.

 

This is very often achievable for new cars but used cars may be assessed by lenders in regard to age and condition. If the ratio of purchase price to valuation of the vehicle does not meet the lender guidelines, they may request a deposit be paid to reduce the overall loan amount.

What cars can I get a loan for?   

Personal Secured Vehicle Loans are designed for the purchase of vehicles which are primarily for personal use. That can cover a wide range of vehicle types and categories. This would include sedans, hatch backs, wagons, SUVs, convertibles, 4WD vehicles and many others. Secured Motor Loans are available for both new and used cars which are purchased through an authorised dealer, from a private seller or even through an auction house.

 

A loan offer is assessed by individual lenders based primarily on aspects of the loan applicant rather than the vehicle itself. The vehicle does come into play with used cars.

 

Some special vehicles such as vintage cars and possible racing cars may require specialist lenders. Jade has access to a wide range of lenders so we can source the right lender to suit you and your motor vehicle.

Can I set the loan term I want?   

The loan term can determine the repayments. The longer the loan term the lower the repayments but you pay more in total interest. The shorter the loan term the higher the repayments but the less you pay in total interest. You can use our repayment loans calculator to see how that works out while planning your loan.

 

The usual term for a Secured Personal Car Loan is 3 - 7 years on most passenger cars. If you have a particular loan term that you want, please discuss this with one of our consultants and they can provide you with information around the possibilities for your specific application.

 

For high-priced cars, buyers may be looking for longer loan terms to spread the purchase price over a longer period. Please speak with us to see what we can achieve for your purchase. We pride ourselves on being flexible and will do our best to structure a loan that meets your requirements and preferences.

Can I get a pre-approved car loan?   

Yes, subject to your loan being approved. A pre-approved loan is a loan that is arranged right through to the approvals stage before a commitment is made on a vehicle purchase. The common practice used to be to first find and buy the vehicle and then source lending. But more and more people are realising the benefits of having their finance approved prior to committing to a purchase.

 

A pre-approved loan is arranged based on an estimate spend. You provide your Jade consultant with a rough idea of loan amount you will need based on the automobile price you will be seeking. We arrange your loan and have it approved to that value so you can confidently proceed. When you finalise your purchase, the loan is finalised based on the exact figure.

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