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Need a quick loan using car as collateral? Swoosh loans against cars are exactly that. The best bit? You can take out a cash loan against your car even if you have bad credit. Keep reading to find out more.
Need tips for instant loan approval?
Can I get a loan against my car and still drive it?
Yes, you can! When you’re in a bind and need fast cash, a loan against your car is a popular option. These secured loans allow you to receive funds using your car as collateral because it’s a valuable asset that you own.
Can I get a loan against my car with no credit check?
Swoosh does not offer no credit check loans, but 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!
How do loans secured against cars work?
Applying for a secured online loan is simple. Fill out the application and show that you own a vehicle, like a motorcycle or car. Because you own the vehicle, you can use it as security, helping you get the cash you need today.
While some other loan companies will keep your car for the duration of the loan, Swoosh is different. You can still keep driving your car while you are paying off your loan.
Apply for a loan against your car
We like to keep life simple and stress-free with our quick and easy 3-step process for a short term loan.
1. Complete an online application on your mobile phone, computer or tablet. Applications only take minutes.
2. Approval of your loan is provided within 60 minutes of receiving your information (during business hours)*. The decision will arrive promptly — right in your inbox.
3. After approval, an offer is sent to you via email. Once you’ve signed the contract, we’ll send the money directly to your bank account!
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.
Eligibility for a quick loan using car as collateral
We only have 4 criteria to apply for our loans against cars.
You must be:
At least 18 years of age
Be a permanent resident or valid visa holder of Australia
Employed for 3 months or more
The owner of a vehicle registered in your name
Apply for a loan today for a super speedy answer. Remember that applications can be paused or stopped at any time — there are no obligations resulting from the application.
Rates & fees for loans against cars
At Swoosh, we give you all of the information upfront. Here are all of the details on our secured collateral loans:
| Online cash loan amount | $2200-$5000 |
| Application fee | $0 |
| Standard establishment fee | $400 |
| Other Fees | $16 |
| Annual Interest | 47% (Comparison Rate 66.0347%)** |
| Term length | 12 Months |
| Flexible repayment options | Weekly, fortnightly or monthly (based on your paydays) |
Interest rate details
Our interest rates are fixed for the term of the loan — making things easy and straightforward. Rates are calculated daily on the outstanding balance.
Debit dishonour fee
A $35.00 debit dishonour fee may be issued if a scheduled payment is missed or returned unpaid. You must still continue to pay the usual interest charges as described.
Can I get a loan against my car if I have bad credit?
Yes, it is possible! Although we do conduct credit checks, our car collateral loans are based on your current situation, not your past credit reports. This is how we’re able to offer bad credit loans with guaranteed approval for eligible Aussies.
After evaluating current bank statements we determine whether you have the ability to repay the loan. This way we don’t solely rely on a credit check. If you’re able to pay off the loan now, you can borrow money against your car and get your cash flow sorted.
Not sure if you have bad credit? You can check your history and get your credit report for free!
Why get a loan against your car?
Swoosh customers find that getting a loan by using their car as collateral is perfect for situations like:
Family emergencies and expenses
School tuition and training programs
Upcoming weekend, holiday, or travel plans
+ More!
What makes Swoosh the best choice?
Check out our reviews to see what our customers love about Swoosh loans!
When you choose Swoosh for your loan, you benefit from these services:
- An easy online application that can be completed from a smartphone, tablet, or computer
- Super speedy loan approval (usually within 1 hour of receiving all your information during business hours)*
- Direct deposit of the funds into your bank account
- Flexible repayment options
- A 100% secure online process
- No hidden fees or nasty surprises
- Friendly and helpful customer care team
Our commitment to responsible lending
At Swoosh, we always practise reliable, responsible, and trustworthy lending. We share our cost structures upfront, and only approve applications when we know they can be repaid. Unlike other digital lenders, every application is reviewed by a professional (human!) assessor — always following responsible lending criteria.
Got questions?
Contact us to get your questions answered, or to discuss your individual needs.
**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.
FAQs
Can I finance against my car?
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.
How do I get a loan against my car?
With Swoosh, you can apply in minutes and get a small loan against your car whenever you need it.
Is the loan process online or in-person?
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.
How to check if a car has a loan against it?
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.
Can I get a loan against my car for personal use?
Yes, Swoosh offers secured small personal loans. And you can use your personal loan for anything you like!
How long does it take to get a secured loan approval?
At Swoosh, most applicants receive approval within 1 business hour, provided they’ve submitted all the correct information.
What is the average interest rate for a secured loan?
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.
Does a secured loan hurt your credit?
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.
Do you need a credit score for a secured loan?
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.
Can you pay a secured loan off early?
Yes, Swoosh lets you pay off your loan in full at any time! You won’t be charged an early repayment fee or any other additional fee for paying your secured loan off early.
Can I get a loan if I am a Centrelink customer?
As long as you have been regularly employed for 3 months and earn enough to service the loan, Centrelink customers are eligible for a loan from Swoosh.
Can I get the cash instantly?
Looking for instant cash? We offer PayID, which means that as soon as your loan is approved and you return the signed contract, you can have the money deposited directly into your bank account.
Testimonials
My refinance loan application was very easy and straight forward to navigate and complete and the prompt response to the application was very pleasing, very professional and with a fast turn around. Special mention going out to your staff member Coen for his prompt responses and professionalism in regards to my application.😊
Garry Capewell
My experience with Hannah and Kate was so great. They both helped me through with my application very respectfully and helped went through the steps to get me through to the final steps to assess my application. Swoosh. Finance is the best
numi
Ally has been spot on with her responses! Super and fast and reliable via email. She has been helpful throughout my application. 10/10 would recommend asking for ALLY if you choose to go with Swoosh.
Helen T
My experience with swoosh has been a good one. Stacey and Cohen have been very helpful towards helping me applying for a loan. I would recommend this services to my friends and family. I would defiantly come back in the future. Thanks swoosh team you guys have been very helpful.
Nai “Friszy01” Frisjina
Very happy with the help I got from the lady on the phone whose name was jade. Would like a bit more updates on the progress but all in all very happy with the people.
Michael Higgins
Great experience with this finance company over the years. They always do everything they can to help you and the turn around is very fast. Coyen is super helpful and a pleasure to deal with. His impeccable customer service and friendly nature is an asset to your business. Keep up the great work Coyen and Swoosh.
Jo Naisbitt
I’ve had a very stressful week and when I needed help I went to swoosh finance and they were swift to give me the helping hand I needed, Jelena was especially super helpful with quick responses and made the whole process very easy. Will definitely go through swoosh again 👍
Brendan Hedges
Jelena was great to deal with she was professional and made it all easy to understand. Would definitely recommend these guys again! ❤️
Kaitlyn Rea
Olivia was very helpful. Kept it simple for me to understand. Responded to my replies within minutes. 10 out of 10 for being professional and straight forward with what I needed to do. Have a good day!
Dino Mcpherson
I would like to thank Kate for her help today much appreciate her effort. She is very easy to deal with and very helpful.
Thank you
Graham Cowley
The Swoosh difference
Our Cash Loans are available when you’re in a pinch — and we work hard to make it happen fast.
We put you first, ensuring you have all of the information upfront.
Swoosh Cash Loans give you the funds you need now from a lender you can trust.
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Use our live chat or fill out the contact form to get in touch with a Swoosh Finance specialist
