Secured Car Loans

Find a competitive secured car loan with Savvy. Car loans starting from as little 5.79% p.a. (6.16% comparison rate)

No obligation. It won't affect your credit score.
Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on July 4th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

Low rate secured car loans

If you’ve been looking for a car loan, you may have read about secured or unsecured loans. In finance, a security is an item or asset that is tied to the loan. This is the “security” for the bank or lender in case the loan does not get repaid.

For over ten years, Savvy has scoured the car loan market for the most competitive loans for families, individuals, and businesses in Australia. Secured car loans are the premium choice for car loans, saving you significant amounts in interest when you tie the loan to your vehicle.   

Our loan consultants are with you every step of the way, explaining the finer details of a secured car loan and all the documents you need for a smooth, hassle-free process. We use the best in technology, so your car loan is processed faster – which means you’re behind the wheels of your new car before you know it. 

Car Loans - Compare Car Loan Interest Rates, Offers & Apply Online

Features and benefits

Competitive interest rates

Secured car loan uses the car as collateral – this means you have “skin in the game” and a lender will reward you with a lower interest rate as a result.

12 months to seven-year loan terms

Pay off your loan in as little as 12 months to seven years. Longer term means more interest – but also gives you more flexibility to buy larger cars to accommodate a growing family.

Flexible repayments

Payments in intervals that suit you. Choose from monthly, fortnightly, or weekly repayment cycles that sync up with your pay so you can budget more effectively.

No early termination fees

Making more repayments? Select products don’t carry discharge or termination fees. Some of our lenders may charge discharge fees; ask your loan consultant for more information.

Fixed interest rates

Worried about interest rates going up or down? Our secured car finance has extra security in fixing your interest rate through the term of your loan. That means equal repayments every time and zero guesswork.

New and used cars approved

Whether you’re looking for a new or used car, we can help you find a loan that suits your budget and needs.

No deposit required

Don’t have a deposit? Don’t worry – we can find loans for you that don’t require a deposit, subject to approval.

Balloon payment options

Reserve some of the principal for payment due at the end of the term, reducing your regular repayments – for business customers only.

Why Australians trust Savvy ?

Calculate your car loan repayments

Your estimated repayments


Total interest paid: $1233.43
Total amount to pay: $5,143.99

Disclaimer:  The results provided is an estimate only. Please read our Calculator Assumptions and Disclaimer for more information

 How to prepare yourself for your car loan application

The most common secured car loan questions answered 

Can I buy a used car with this type of loan?

Yes, you can buy used cars with secured car finance. Some conditions may apply depending on lender, such as age of the car.

Do I need to submit hard copies of my documents?

In most cases, no. We can process your documents electronically using our secure portal.

What is a comparison rate?

A comparison rate is an interest rate that includes most fees and charges expressed as a percentage per annum. You can compare similar loans using a comparison rate table. This allows you to make an “apples for apples” comparison between two loan products.

Can I pay off my car loan early?

Yes, you can make extra repayments without penalty to help you pay off your loan earlier. Switching to weekly or fortnightly payments can help achieve that goal easily.

What is car loan pre-approval?

Pre-approval or “in principle” approval gives you an opportunity spend up to a pre-determined limit when looking for vehicle. This has its advantage as you have a “price ceiling” that others will need to negotiate under in order for you to buy.

If I don’t pay back my loan, what happens?

You may be liable for repossession of the vehicle and be in default of your loan. Your loan will have to be over 60 days in arrears or non-payment before this process begins. Defaults and repossessions are rare – according to the Automotive Asset Backed Securities Index, the rate is 0.44% (2017.) There are many hardship variations and financial assistance options available before this is necessary – talk to your loan consultant for more information. 

Helpful guides on car loans

New cars Australia

Car Statistics Australia

As part of Savvy’s ongoing research into automotive consumer sentiment and broader financial landscape of Australians, we present the latest car finance statistics in Australia. Check back for new and...

10 things you should always keep in your car

Car manual Obviously, you need to have your car manual inside your car, so that you can check with it when something goes wrong, or you’re unsure. All the information...

I'm self employed. Will I get a car loan?

Consumer Loan Options This option is for people who are using the car for personal purposes. A consumer car loan is what’s commonly referred to a “car loan.”  These loans are regulated...

Car Loans Banner - Couple happily smiling and holding car keys after buying a new car

How to Get a Car Loan

If you’re looking for a car loan in Australia, you aren’t alone. According to the Australian Bureau of Statistics (ABS) lending indicators for December 2023, the value of new fixed-term...

What Is a Bad Credit Car Loan?

Bad credit is when your credit file shows that you have not managed loans or other accounts well. It could be that you missed a couple of payments on your...

Top 5 Utes in Australia

5. Toyota Hilux The Toyota Hilux is Australia’s highest selling utility vehicles, now in its eighth-generation. The current and “unbreakable” Hilux has taken on a more solid-looking front, reminding one...