Secured Car Loans

Frequently Asked Questions

• Car loan application methods?

  Car loans are easy with Rapid Finance, you can apply online or over the phone. Our application process can take just a few minutes to complete. And you don't need to dig out reams of paperwork to get started. All we need are the details of your desired car loan along with some personal details, such as your driver's license and basic employment information.

  If you have any questions about Rapid Finance, you can contact our team on 1300 467 274. Alternately, you can complete a Free Finance Assessment using the contact form on this page.

• What is the process for car loans?

  One of our car loan specialists will be in contact with you after you submit your Rapid Finance application. This person will be your personal expert in everything about car loans. They'll begin by reviewing your personal situation and needs, then match you with a car loan option that fits.

  If your financial situation is a bit more complicated, don't worry. Your specialist is often able to negotiate deals with financiers and assist in correcting mistakes on your credit history for free. Applying for a car loan is easy with a Rapid Finance specialist on your side.

• How much can I borrow?

  The size of your secured car loan will largely depend on your personal situation. Everything from your income to the type of car can influence the loan amount you can access.

  It’s possible to get 100% finance for your loan – that is, you pay no deposit up front. Speak to a Rapid Finance specialist for more information about no deposit car loans.

• Are car loans approved instantly?

  In some cases, we can get you approved for finance on the same day you apply. Each application will vary, but in most cases we can find finance for a secured car loan in one or two days. Complicated financial situations can extend the process of finding finance and getting approval.

  Approvals will also take longer if our team need to spend time collecting revised documentation. Make sure that all the information you supply is complete and correct from the get-go. This way we can reduce annoying delays or roadblocks – and you'll get your new car sooner.

• What is a car loan comparison rate?

  We can offer car loans from 5.49% p.a. However, it's important to understand that every situation is different. You may be eligible for a different interest rate depending on the details of your application.

  Because every situation is different, you should take advertised comparison rates with a grain of salt. A Rapid Finance specialist can do the shopping for you, without the need to directly apply to financiers. This means you get a realistic interest rate without the risk of damaging your credit history.

• Car loans with salary sacrifice?

  We have options for customers who want to access the convenience and tax benefits of salary packaging their car loan. Salary packaging is where your car loan repayments are automatically taken out of your salary by your employer.

  A novated lease is an excellent choice for employees looking to get additional savings on a new car. The running costs of the vehicle, such as servicing, insurance and fuel, could also be included in the lease agreement.

• Car loans for old and used cars?

  Yes, our car loans are available for used cars. The availablity and amount of the secured car loan, such as the loan amount, may be reliant on other factors, including the car's make, model and condition.

  The advantage of Rapid Finance is that we can offer fast finance without the high cost of convenience. We compare a range of financial products to see which ones match your needs – and organise the information needed to get approved quickly.

• What documentation do I need?

  To begin your Rapid Finance application, you'll need personal details and a rough idea of your desired loan amount. Once a Rapid Finance specialist gets in contact with you, they'll advise what further documentation is required, such as proof of employment and income.

  There are some situations, such as new employment or self-employment, where it can be difficult to provide evidence of income. In these cases, we can find alternative ways to provide proof of income. It is even possible to get a loan without income documentation if you have a great credit history.

• Car loans if I am self-employed?

  Yes, our car loans are available if you’re self-employed. We can prove your income and ability to meet repayments using alternative documentation.

  If your vehicle is used for business, then consider applying for a business car loan. There are a number of options to consider that could potentially reduce your tax liability or interest rate. A tailored business loan can also be made to match repayments with cash flow or seasonality.