Secured and Unsecured Personal Car Loans for Your Budget

A prestige luxury car or a zippy runaround. A strong-as-an-ox work ute. A reliable school shuttle. A look-at-me sports car.  No matter what you aspire to drive, when it comes to Personal Car Loans we have it all covered and at the most competitive rates available.

Here at 360 Finance, we are all about easy, fast and competitive Car Loans.  A pre approved Personal Car Loan puts you in control of the negotiations.  You have the choice of secured and unsecured loans to make your purchase and flexible terms to suit your budget. These are just part of a great range of benefits that we can provide to help meet your individual requirements.

Personal Car Loans in a Nutshell

A car loan is, in a nutshell, an advance of funds to help you pay for the purchase of a car.  When you purchase and pay for the car and pick up the key, you take ownership of the car. It is only once the contract is paid off that the finance provider passes title over to you. It is important to make sure you find the right finance provider that ticks all your boxes. Whether it is low rate, no fees or no early termination fee, 360 Finance have a financier for you.

Choose from either a Secured Car Loan or an Unsecured Personal Loan.

Benefit with a 360 Finance Personal Car Loan

  • Flexible car loan terms from 12-84 months
  • Car Loan residuals from 10-60%
  • Fixed payment schedule to suit your circumstances
  • Most competitive loan rates
  • No ongoing  fees
  • No upfront costs or out of pocket expenses
  • Access to specialist help and information
  • A range of loan types to suit your budget and situation

Personal Car Loan terms explained

Unsecured – you might think of this as a “personal loan”, where the loan provider gives you the loan without tying it to any security such as the car, your house, shares etc.  It means the car’s ownership is in your name completely. Incidentally, these loans can be used for other purposes, so if you want to buy a flash new bike, music equipment etc, an Unsecured Personal Loan could be the answer. If you have a preference for an unsecured loan, ask the team at 360 Finance but beware a higher rate can sometimes be associated with an unsecured loan.

Secured – a secured loan means the loan provider takes your car or asset that you are purchasing as security.  The financier will keep an ownership stake in the car until you pay it off. This is called an encumbrance and will be lodged with the national personal properties and securities register or also known as the PPSR. If you can’t pay the loan the asset is at risk of being liquidated by the loan provider, but the upside is a lower interest rate compared to an unsecured loan because of the lower risk to the bank of being out of pocket should you stop paying.

Term / Length of the loan – the term of the personal loan is the time you have to pay it off. We sometimes call it the life of the loan.  Common car loan terms are anywhere between 3 years to 7 years. It is also possible that any loan term under 5 years can also have a residual payment to help keep payments low ( see balloon or residual payment ). 360 Finance works with a range of lenders who can offer you a loan term and structure that suits you.