Quick loans using your car as collateral
Swoosh Finance offers hassle-free loans against cars, allowing you to leverage your vehicle to secure a short-term loan today, even with bad credit. Get approved for a cash loan while still driving your car.
Apply online for free and get fast approval on a small cash loan today!
Loan secured against car
A loan secured against a car, also known as a secured car loan, involves using your vehicle as collateral to obtain financing. If you default on the loan, the lender may repossess the car. Secured car loans often offer lower interest rates compared to unsecured loans due to the reduced risk for the lender.
How to get a loan against your car
We like to keep life simple with our quick 3-step process to apply for a short term loan using your car as collateral:
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Online Application: Complete our mobile-friendly application in minutes.
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Fast Approval: Receive approval within 60 minutes of receiving your information, during business hours*.
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Funds Transfer: Once approved, an offer is sent to your email. You can then receive the funds directly into your bank account upon contract signing.
Find out more about how to get a loan with Swoosh.
*Approval speed is conditional upon receipt of all requested relevant documents/information & usually comes within 1 hour during normal business hours/banking days. If you return your contract by 3:30pm AEST, your funds will be transferred overnight.
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Can I get a loan against my car and still drive it?
Absolutely! When you need fast cash, a loan secured against your car is a popular choice. These secured loans let you use your car as collateral, tapping into its value without giving up your ability to drive it.
Can I get a loan with no credit check?
Swoosh does not offer no credit check loans, but as a private lender, we do offer loans for bad credit. So, as long as you can currently afford to service the loan, you don’t need to worry about a past bad credit history holding you back!
Eligibility for a quick loan
To be eligible to apply for a small secured loan we only have 4 simple requirements:
- Be at least 18 years old
- Hold Australian residency or a valid visa
- Have been employed for at least 3 months
- Own a registered vehicle in your name
Rates & fees for loans against cars
Here are the details of our secured collateral loans:
| Loan amount | $2,300 – $5,000* |
| Fees: |
|
| Annual Interest | 47% (Comparison Rate 66.0347%)** |
| Term length | 12 Months |
|
Debit dishonour fee (if a scheduled payment is returned unpaid) | $39.95 |
| Repayment options | Weekly, fortnightly or monthly (based on your pay schedule) |
Interest rates are fixed for the loan term, ensuring clarity and simplicity in repayment. A debit dishonour fee of $39.95 may apply for missed payments. Rates are calculated daily on the outstanding balance.
Loans against cars with bad credit? You can still qualify!
Even with a less-than-perfect credit history, you can qualify for a loan using your car as security. At Swoosh, we understand that financial situations can change, and we evaluate your current ability to repay rather than focusing solely on credit checks.
Can I get a loan against my car on Centrelink?
As long as you have been regularly employed for 3 months, earn enough to service the loan, and meet our lending requirements, Centrelink customers are eligible for a loan from Swoosh.
Why Choose Swoosh?
- Easy Online Application: Complete from any device.
- Swift Approval: Typically within 1 hour of receiving all information during business hours.
- Direct Deposit: Funds straight to your bank account.
- Flexible Repayment Options: Tailored to your pay schedule.
- Transparent Process: No hidden fees or surprises.
- Customer Support: Friendly assistance throughout your loan journey.
- Responsible Lending: Each application reviewed by a human assessor, adhering to strict lending criteria.
Ready to secure a loan against your car? Apply now with Swoosh Finance for a straightforward borrowing experience.
Got questions?
Contact us to discuss your needs with our knowledgeable team.
**WARNING: This comparison rate is based on the Swoosh Medium Loan for an amount of $2,500 over 2 years and a $400 establishment fee. Fees and charges are payable. Different terms, fees or other loan amounts might result in a different comparison rate.
Yes. Financing against your car involves using your vehicle’s value to secure a loan. Lenders assess your car’s worth and use it to determine eligibility for a loan amount.
With Swoosh, you can apply in minutes and get a small loan against your car whenever you need it.
Our process for a loan against your car is 100% online. You can apply 24/7 to borrow some quick cash through our simple application form.
You can check if a car is being used as security for a loan in Australia by looking it up on the register of encumbered vehicles.
Yes, Swoosh offers secured small personal loans. And you can use your personal loan for anything you like!
At Swoosh, most applicants receive approval within 1 business hour, provided they’ve submitted all the correct information.
The average interest rate for a secured loan varies depending on the lender, the borrower’s creditworthiness, and the type of collateral used. Secured loans often offer competitive interest rates because the collateral (i.e. vehicle) mitigates the lender’s risk. Always compare offers and Ts & Cs from different lenders to secure the best interest rate for your specific financial situation.
Secured loans can impact your credit in both positive and negative ways. Initially, when you take out a secured loan, it might have a minor impact on your credit score. However, if you manage the loan responsibly by making payments on time, it can help to improve your credit over time. On the other hand, failing to meet your loan obligations can have a significant negative impact on your credit score.
Not necessarily. As a private lender, Swoosh is able to provide loans against cars to those with a bad credit score or no credit history by assessing their current financial situation and ability to repay the loan.
Yes, Swoosh lets you pay off your loan in full if you wish to. You won’t be charged an early repayment fee or any other additional fee for paying your secured loan off early.
Looking for instant cash? We transfer the money into your bank account, so when you receive the funds will depend on the time of day your contract is signed and your bank. The money will usually be in your account within the hour, but it may take up to two business days.
