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Secured Loan

What is a Secured Loan?

A Secured Loan is a loan where the lender takes the goods being financed as security. This reduces their risk. If you don't pay, this loan allows them to take back the goods.

Common Secured Loan types are, home loan, bike loan, boat loan, caravan loan, car loan, etc.

Want to apply for a Secured Loan enquiry now or Call 1300 583 022

Recent Events that have affected Secured Loans

In recent times many banks and finance companies have changed their thinking on processing and approving loan applications.

The “Global Financial Crisis” occurred. In some countries it continues to be a major concern. Then National Consumer Credit Protection Act (NCCP), was introduced. These two major event has forced a review of their processes.

The National Consumer Credit Protection Act. (N.C.C.P.) has, moved the responsibility of the correctness of information gathered to the Lenders (Banks and Finance Companies) and the Finance Brokers. This will mean you can expect your broker or finance provider to ask you a lot more questions and request o lot more documentation than in previous times.

The advent of the “Global Financial Crisis” saw many banks and finance companies leave the car loan market entirely. Ford Credit, General Motors Acceptance and Motorone are all well known examples.

Of those who remained, many have shifted to a “rate for risk” process. Put simply, this means the better the quality of your application the lower interest rate you can expect to receive. That also means, if your credit history is average or poor, you can expect to pay more.

Check your credit rating

What is a Car Loan?

A car loan is the loan that a person who's car is for personal use will use. (i.e. not for use in business)

The National Consumer Credit Protection Act requires a lender to use this product for any secured loan (your car is security for the loan) The standard car loan offers you more protection than any other loan, it requires the disclosure of the loan interest rate and restricts the size of any exit fees, if you pay your loan out early.

By applying for a car loan, you are applying to borrow a sum of money for the sole purpose of a car purchase in return for regular repayments over an agreed time period.

Anybody can apply for a car loan

  • Repayments can be structured to suit your needs
  • Interest rates for car loans are generally lower than for standard personal loans
  • You have the opportunity to build up equity in your vehicle
  • On-roads costs, insurance and other expenses can be included in your loan
  • Most Lenders offer “no deposit” car loans'
  • Negative Equity Loans welcome

Applying for a car loan with Harley Finance is easy. We do all the work and running around for you.

Our panel on lenders range from the Major Banks and Finance Companies. We also have a range of lenders for those who have had previous finance problems, have not had credit before, are new to the country etc.

We are innovative in setting up your loan, matching it to meet your needs. (e.g. we can defer your payments, step your payments, have 10 payments per year etc)

A broker we are not limited to any particular bank or finance company – we can shop around for the best rate, help you avoid 'hidden' fees and charges and most of all complete the process with the minimum of fuss and maximum of professionalism.

Still not clear and want to know your chance of financial application success? Call us now on 1300 583 022 or fill out the contact form for a Free Confidential Consultation.


Phillip Gruppelaar - Senior Finance Manager

Commenced in the Finance Industry in 1988. Phillip has been a senior manager in finance businesses since the mid 1990's. This included 5 years as General Manager of one of Australia's largest and most successful Finance Brokerage Businesses. Phillip is a General Asset Finance specialist

Have questions? Live chat with Phillip!

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George Carver - Senior Finance Specialist

Commenced with National Australia Bank in the early 1970's. A Custom Credit Branch Manager by 1978.

For the last 20 years he has run Carver Financials, he joined forces with Harley Finance in 2012.George is a Truck, Equipment & Machinery Finance specialist.

Have questions? Live chat with George!

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