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Secured Loans – A Better Alternative for Fast Cash?

Have you ever been in a situation where you needed some cash to hold you over? Maybe you had an unexpected medical emergency, or a once-in-a-lifetime vacation opportunity. Or maybe your car broke down at the same time you had to replace your refrigerator. Whatever the reason, almost everyone has been in a circumstance that required more cash than they had. But how often have you considered a secured fast cash loan in that situation?

Ways of getting fast cash

A variety of methods exist for accessing fast cash when you need it. Depending on your circumstances, you may be able to:

  • Borrow from a family member or friend
  • Work a lucrative side job
  • Sell valuable belongings
  • Take a loan out on your credit card
  • Take out a cash advance on your credit card
  • Remortgage or refinance your house
  • Take a loan out on your retirement savings (though usually for a penalty).

While some of these options might work well from time to time, you may be looking for something a little different, like a secured loan.

Secured loans

Secured loans are those provided to individuals who own an asset of value, like a car or home. They allow you to receive loan approval because you have some type of collateral.

For Swoosh secured fast cash loans, for example, you need to own a vehicle, like a motorcycle or car, with no finance owing or encumbrances. Because you have this asset, you are able to take out a loan for a certain amount of money.

secured loan fast cash

The majority of secured personal loans use cars as the collateral, but other qualifiable assets could be a savings account, a house, or a boat.

Is a secured loan right for you?

Secured loans might be best for you if you have a valuable asset, like a car or home. Depending on the lender, a secured loan can:

  • Have a lower interest rate than an unsecured loan
  • Offer better loan terms than unsecured loans
  • Build your credit score
  • Offer larger cash amounts
  • Help you get back on track quicker.

When you’re deciding if a secured loan is right for you, remember that a lender can assume possession of your asset or collateral, if the loan is not repaid as agreed.

Secured loan speed

Secured fast cash loans are generally approved and paid quickly. Depending on the lender, you may see the cash in your bank account within one business day.


While secured loans are available at brick and mortar places like banks, most of these loans are now digitised—meaning you can apply online, get approved online, and have the cash directly transferred into your bank account. This eliminates the need to wait in long lines or navigate through a mountain of paperwork.

Secured loan amounts

The amount you’re able to receive from a secured loan varies greatly on the lender and the value of the collateral you own. If you have a high-end vehicle, for instance, you’ll be entitled to a larger loan.

Though the amount ranges, secured personal loans are generally offered from $2,000 to $50,000. For Swoosh loans, we provide options from $2,100 to $4,600. All you have to do is list the needed amount on your application.

Process of applying for a secured loan

Applying for a secured loan is relatively easy, because it can all be done online.

secured loans apply online

You just need basics on-hand, like your contact information and employer details, along with the information on the vehicle you own.

Eligibility for secured loans

Loan eligibility criteria will differ from lender to lender. For Swoosh secured fast cash loans, we only have four requirements. You must

  • Be over the age of 18
  • Be a permanent resident of Australia
  • Have been employed for three months or longer
  • Own a vehicle registered in your name, with no finance owing or encumbrances.

If you’re unsure if you qualify for a secured loan, check the company’s eligibility or apply for a quick answer. Most applications don’t cost anything, even if your application is not approved.

Interest rates and fees

Before you sign a contract for a secured loan, you want to be well-versed in how the loan needs to be repaid.

Each lender has its own rules and interest rates for their secured loans—that’s why it’s especially important to review the information in detail.

What to look for when it comes to secured loan repayment:

  • Application fee (if there is one)
  • Establishment fee (usually these are standard)
  • Interest rates (look at the annual rates and how they are calculated)
  • Additional fees, such as a debit dishonour fee or one for repaying your loan later than expected
  • Above all, make sure you understand the loan terms and are able to meet them.

Repayment schedules

Some lenders will have strict repayment guidelines, while others are more flexible. At Swoosh, for example, we offer flexible repayment schedules that align with your paydays. Repayments at Swoosh, for example, are auto-set for weekly, fortnightly, or monthly direct debits.

When choosing a digital lender, look at their repayment schedules and determine if you’ll be able to meet the deadlines.

eas repayments secured loans

Secured loan term lengths

The length of time you have to repay your loan will depend on the lender, and your preferences.

At Swoosh, our secured fast cash loans are designed to be paid back in 12 months.

Look for a lender who practices responsible lending

In addition to looking at the interest rates and repayment schedule, be sure you are applying for a loan from a responsible lender.

What does this mean?

A responsible lender is one who is reliable and trustworthy, and abides by the laws of lending.

Responsible lenders take actions like:

  • Making reasonable inquiries about your requirements and objectives in relation to any credit contract
  • Undertaking reasonable inquiries to verify your information
  • Verifying your financial situation, including things like conducting a credit history check or perusing bank statements.

A lender who follows these rules is also ensuring you have the ability to repay the loan before they go ahead and approve you.

Secured loan uses

A secured loan can be utilised for a variety of situations, including:

  • Unexpected bills (like medical expenses or car repairs)
  • Debt consolidation
  • Home improvements or renovations
  • Educational programs and trainings
  • Flights, holiday plans, and weekend plans
  • And much more.

holiday uses secured loan fast cash

Interested in trying a secured loan?

If you think a secured loan might be right for you, apply for one today. You’ll get a quick answer, and you’ll have the chance to review the contract before agreeing to anything.

To apply for a secured loan, fill out our online application. It generally takes people less than 5 minutes.