At Fair Go Finance, a secured personal loan is a type of personal loan we offer to our customers.

A secured personal loan means the customer offers a form of security for the loan, such as a car, motorbike or boat. By offering security, it shows the customer’s is genuinely committed to repaying the loan.

If the customer does not make their loan repayments, and does not try and discuss their situation with their lender, the security that was provided can then be sold to clear the outstanding loan.

What are the benefits to the customer by offering security for a personal loan?

There are a number of benefits to the customer if they offer security for their loan. They are:

  • Offering security shows genuine commitment by the customer that they intend to repay the loan.
  • If a customer’s application is not strong, by adding security to the loan can help the loan be approved.
  • Providing security can sometimes enable a longer term to be offered, or even a lower interest rate.

What types of security can be offered for a personal loan?

At Fair Go Finance, we can accept any unencumbered vehicle that is currently registered in your own name. Examples are:

  • Truck
  • Boat and Trailer
  • Motorbike
  • Caravan etc.

What if my only security already has a loan against it?

We cannot take security over a vehicle if it already has an interest on it from another lender/party. We are, however, able to offer debt consolidation loans, so depending on how much you owe on your other loan, we may be able to repay that debt and provide you with one larger loan.

A debt consolidation loan can be very beneficial, especially as they can make it easier to manage (as you will only have one repayment to worry about instead of two).

What else should I know about secured personal loans?

At Fair Go Finance, we can offer secured personal loans from $2000 – $10,000. As with any loan, it’s still important that you have a reliable payment history and can afford the loan. The intention is for you to repay the loan successfully, so we can remove our interest against your security!

How can I apply for a secured personal loan with Fair Go Finance?

If you are a new customer complete our easy online application form. If you are a returning customer, click here to use our very quick returning customer form. We hope this has helped explain what secured personal loans are. If you have any queries, please contact us, we’re here to help!

car loan security

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Are you eligible to apply?


It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:
For more information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.

Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
If you are on government benefits, ask if you can receive an advance from Centrelink.

The Australian Government’s MoneySmart Website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.