Secured Personal Loans

Our secured loans are loans where you offer a registered asset – usually the asset you’re buying – as security or collateral for your loan. For instance, you might take out a secured loan against a car, using the car you’re purchasing as security.

Secured loans aren’t limited to car purchases though. With a secured loan, you can borrow up to 100% of the purchase price of almost any asset, whether you’re buying through a dealer or privately. Our customers take out secured loans for cars, caravans, motorbikes, boats and more.

The important thing to remember with secured loans is that if you default (fail to make your repayments), you will lose the asset you used as security or collateral.

Secured loans generally enable you to secure better interest rates or repayment terms because the asset you’re using as collateral (say, the car you’re buying and using as security) can be used to pay off your loan if you default (fail to make your repayments).

If you’re unsure whether a secured loan or an unsecured loan is right for you, contact our team on 1300 324 746 or via live chat. We’re here to help you get the cash you need and minimise your borrowing costs. That’s what it’s all about for us – helping you get a fair deal and get ahead.

Not necessarily. Secured loans can be useful for people with bad credit scores and help you get a loan – or better loan rates or terms – if you have a bad credit history. But often, the choice of taking out a secured loan rather than an unsecured loan is a personal one.

If you have a bad credit score or are concerned your credit history will prevent you from taking out a loan, find out more about our bad credit loans or talk to our team on 1300 324 746 or via live chat. It may be that a secured loan is your best option, but we’ll be able to advise you on the best way to get the cash you need to get on with life and get your credit history back on track.

Our customers across Australia take out secured loans to buy cars, motorbikes, boats, caravans and much more.

With a secured loan, you can borrow $2,250 to $10,000, using a registered asset – usually the asset you’re buying – as security or collateral for your loan. For example, if you’re taking out a loan against a car, you could use the car as security or collateral for the loan.

All of our secured loans have fixed interest rates, so you know in advance what your repayments will be. No nasty surprises. No hidden charges.

Repayment terms on our secured loans vary from six months to 36 months. We personalise our rates and terms to maximise your borrowing power and minimise your borrowing costs.

This clarity and flexibility is all part of our commitment as a responsible lender. We’ll never lend you more than you can afford. We’ll always be open and transparent about our rates and fees. And we’ll go the extra mile to ensure you get a fair go. We’re here to help you get ahead.

No, you can pay off your secured loan at any time without being penalised.

At Fair Go, you only pay interest until the day you fully repay the loan, so if you pay your secured loan off early, you save money.

Whether you want to take out a secured car loan (using the car as security or collateral for the loan) or a motorbike, boat, caravan or another asset, you’ll need to be at least 18 years of age and a permanent Australian resident, with regular paid employment.

If you’re worried that your bad credit rating will prevent you from taking out a loan, we provide secured loans for customers with bad credit scores all the time. In fact, secured loans are often a great way to repair a bad credit history. Read more about our bad credit loans.

1. Apply online in less than 6 minutes: Our clever online application form is quick and easy to complete – apply from anywhere in Australia, anytime day or night.
   
2. A little human touch may come into play: If your application isn’t given an immediate outcome, a friendly credit consultant will be in touch to confirm what they need clarified, or if there’s a different amount or product they can offer you.
   
3. Get approved: If you’re offered a loan and you’d like to proceed, simply accept by electronically signing in the contract using an SMS code sent to your mobile phone.
   
4. Receive your funds within minutes: We use Real-Time Funding to instantly transfer the funds to your account.Start your online application and see for yourself. And remember, if you run into any problems with our online application or have any questions about the approval process for our secured loans, we’re here to help. Call our team on 1300 324 746 or contact us online via live chat.

Secured loans aren’t necessarily easier to get, but they can be cheaper. Lenders still need to assess whether you can afford to pay back the loan, but when you secure an asset to the loan there is less risk involved. When there is less risk, fees that would be used to cover this risk can be reduced.

All Fair Go Finance loans can help improve your credit score if they are fully paid back. No matter what type of credit product you use, paying back the credit is the key to improving your credit score and report. The most important thing you can do is use a lender, like us, who will ensure the loan you’re offered suits your affordability, so you’re set up for success.

How much you are eligible to apply for will depend on your current financial circumstances and requirements. As a Responsible Lender we want to make sure your loan is affordable for you, so we will always need to complete your assessment first before we can provide you with the loan amount you’re eligible for.

Our loans are based on your individual and current financial circumstances. Until we receive your application and your bank statement information, it is not possible for us to guarantee you will be approved. You may wish to read our blog which provides some helpful tips on improving your chance to get a loan.

Our loan repayments vary depending on the loan amount, the loan term and the interest rate. You can use our loan calculator as a guide, however because we tailor our rates to your unique credit profile, we will not be able to confirm any repayments until your assessment is complete.

The interest rates for our loans are calculated using risk-based pricing, which simply means the better your credit rating, the better the interest rate you can be eligible for. We won’t be able to confirm what interest rate you may be eligible for until your assessment is complete, however you can see the range of our interest rates for our personal loans here.

The usual waiting time to receive your loan application outcome is between 24-48 working hours.