Personal loans
for

Credit made for you

Unsecured Car Loans

Trusted by thousands of Australians

Estimate your
repayments

Find out how much your repayments and
interest rate could be with our calculator

$

Monthly repayment from

$910.72

Example interest rate

6.25 %
p.a.

Comparison rate3

7.64 %
p.a.

Total charges

$1,857.28

Total repayments

$21,857.28

Disclaimer: This calculator provides an estimate only and a comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. Any calculations made by you using this calculator is intended as a guide only.

Unsecured Car Loans up to $50,000

Easy and straightforward online loans

MoneyMe’s unsecured car loan is designed to help you get on the road in a new set of wheels faster. We offer our customers loans available for fast online approvals and quick cash transfers for balances up to $50,000. We are the go-to money lender of Gen Now in Australia offering individuals access to unsecured personal loans, like our unsecured car loans and boat loans online. We are the no-fuss, no-hassle and fast alternative to regular credit providers. Approvals are quick and painless, and the money is available in as little as 60 seconds once you sign your digital contract.

What is an unsecured car loan?

Unsecured car loans are car finance options which are designed to cover the upfront cost of purchasing a new or used car. A secured car loan is offered to applicants on the understanding that the loan amount is secured to the new asset that they now own. Secured loans mean the loan provider can sell your new car if you default on the loan so that the money lender can recoup any money lost. An unsecured loan is not secured to the item that you purchase with the loan funds. We offer unsecured cash loans of up to $35,000 online and fast. 

Use an online loan calculator

If you are interested in getting unsecured car loans, you can check whether our short term loans are really for you using our personal loan calculator. These kinds of tools are used to help you answer: how much can I borrow? Using our personal loan repayment calculator, you can get an idea of what your likely interest rates and your desired loan term will mean in monthly repayments. This helps you work out ahead of your loan application and learn how repayments may affect your cash flow. 

Do you want to save money on your unsecured car loan? When you use our online calculator, you can adjust it to reflect the likely personal loan interest rates you would be charged on our unsecured car loans to work out what the total interest payable is likely to be over the entire loan term. This is a great way of checking how you can chop down the total interest paid by reducing your loan term.

There are pros and cons to every situation and your loan term is a perfect example. By reducing your total amount of months that you repay any of our express loans over, you reduce your total payable interest. However, you also increase your monthly repayment when you reduce the number of months you’re repaying over. Play around with the calculator to find the best option for you and remember that you can always pay out your loan before the loan term expires.

Fair and honest money lending

MoneyMe doesn’t charge customers an early payout fee when they can afford to clear their personal loan balances earlier than the agreed loan term duration. With a positive repayment behaviour and history with us, this may mean that the next cash loan online you apply for will likely be offered at lower rates or fees and charges. 

The total loan term for any of our quick loans will depend on what your current living expenses are like and what the total loan amount is. Common loan terms for unsecured car loans are usually 60 months, but we don’t charge early payout fees for people who can pay out their easy loans from MoneyMe so you can chop down your repayment time to less than your original loan term.

Application and eligibility requirements

To be eligible for any of our same day cash loans you must be at least 18 years old, a resident of Australia and currently employed. If you’re in a good financial position now but have some issues on your credit file, consider our small loans like a quick cash advance loan first. As our customer, you receive a MoneyMe loan rating that applies to all of your future applications with us. For every same day loan repaid on time and reliably, your rating with us increases. What does this mean for new applications for personal loans Australia? It could put you in better stead for larger loan applications.

As a young person without a credit file, you may experience some issues getting approved for quick loan products like a student loan immediately. Getting a loan large enough to cover your total tuition costs, particularly upfront costs, can easily soar into the thousands. Applying for small personal loans first and showing that you are a reliable credit customer can help. Our small loans can be used for things like covering the cost of study materials or helping you pay for things like car repairs, rent assistance or a bond loan for covering costs for moving into a new rental property.

Use Freestyle

MoneyMe’s Freestyle Virtual Credit Account features a line of credit option between $1,000 and $10,000. It works like a virtual credit card where you can redraw your used up balances once you have repaid them. Plus, customers can enjoy up to 55 days of interest-free purchases using the Freestyle credit card.

Don’t need an unsecured car loan but still looking for fast and easy credit options? Our personal loans are offered as renovation loans designed to help you get started on home improvements sooner rather than later, and our travel loans for anyone who wants to book their next adventure upfront and hassle-free.

Unsecured Car Loan

An unsecured car loan is a personal loan that doesn’t use the car as collateral. Instead, lenders rely on the borrowers’ creditworthiness to receive new credit based on their credit report, especially their history of repayments. 

At MoneyMe, we offer unsecured personal loans that come with more favourable repayment terms and lower interest rates than traditional lenders and banks in Australia. Thanks to our 100% online operation, we don’t have expensive offices to rent and pay for other overhead costs required in running a physical site. This is the reason why we are able to offer competitive rates and financing options that are truly borrower-friendly. 

Are car loans secured or unsecured?

Here at MoneyMe, our car loans are unsecured. They are different from secured car loans in which the vehicle that you buy is typically used as collateral. 

With an unsecured car loan, the lender cannot take the collateral or any major assets of the borrowers (e.g., home and vehicle) to repay the debt in the event that they find themselves unable to pay it off. However, missed payments and defaults have detrimental effects on their credit report that can make it harder for them to secure a loan in the future. 

If you miss your payment for 30 days or more or completely default on your debt, it becomes a record on your credit report. Please note that negative information like missed payments and bankruptcies stay on your credit history for approximately seven years. 

Can you get an unsecured car loan?

Because an unsecured car loan doesn’t require any collateral, you need to prove your creditworthiness, which your credit report can reveal. Nonetheless, having a mark does not automatically mean that MoneyMe will turn down your loan application. To come up with the fairest and accurate lending decision, we look at your entire financial situation, including your cash flow, debt obligations, monthly income, and living expenses. 

To assess your financial situation, we need your bank details so we can see read-only snapshots of your most recent bank transactions. In this way, we can evaluate if your requested amount is something that you can afford to repay on a regular basis without putting you in a tight financial position. 

Do I have a secured or unsecured car loan?

The only way you can tell if you have a secured or unsecured car loan is to ask your lender. Also, make sure that you read the fine print before you tap into any finance loan or credit card offers.

At MoneyMe, we believe in the importance of transparency and honesty between us and our borrowers. That being said, we provide you with a personal dashboard where you can monitor and manage your loans and see every detail, including your interest rates and other fees, loan duration, balance, repayment schedule, etc. You can rest assured that there are no hidden charges if you use our services, whether that be personal loans for cars or other credit products.

By equipping you with all the right information, we can help you stay on top of your finances. 

Does a variable loan mean it’s an unsecured car loan?

An unsecured car loan is generally a variable personal loan, meaning the interest rate does not fluctuate during the variable date period of your debt, making this ideal for most borrowers because they can predict their future payments accurately. 

Aside from an unsecured car loan, other common variable -rate personal loans include small debt consolidation loansgraduate loanwedding loans, and housing bond assistance.

By contrast, an adjustable-rate loan comes with an interest rate that changes at certain points during the term of the loan. It’s more commonly seen in mortgage loans when the rates may start out with a low interest rate and increase over the life of the loan, depending on several factors such as the standard financial indexes. 

Is a secondhand car loan secured or unsecured?

At MoneyMe, our car loans (either to pay for a secondhand vehicle or a brand-new one) and other types of personal loans are unsecured, meaning you don’t need to use your major assets like your home and vehicle as collateral. 

On the other hand, traditional lenders and banks typically demand some type of collateral, which in the event of non-repayment can be repossessed or foreclosed. 

Is a car loan unsecured?

MoneyMe’s car loan is an unsecured personal loan, which means you don’t need collateral to qualify for this financing option. Nonetheless, failure to pay off your unsecured car loan still comes with a huge consequence: it can lower your credit score and prevent you from accessing loans and other financing options, especially those with favourable interest rates and terms.

Is my car loan secured or unsecured?

At MoneyMe, our car loan and other personal loan products are unsecured. For this reason, you don’t have to leverage any of your major assets such as properties, vehicles, and savings accounts to secure new funding. 

Another benefit of an unsecured car loan is its faster approval process because there are no assets to evaluate, and with MoneyMe, there are no documents to be submitted. In fact, when you apply for our personal loans, you only need to complete our three-minute online application with your personal and bank details. Then, wait within the same day to receive our lending decision. 

Once your unsecured car loan is approved, and you have agreed to the terms and conditions, we will immediately send the money to your bank account. Depending on your financial institution, you can even have access to your funds within seconds!

To learn more about our quick and efficient loan application and the eligibility requirements, check out MoneyMe now. You can also use our online tools such as our personal loan and repayment calculator to make sure that you manage your finances well.

Our customers
LOVE us

Unsecured Car Loans

Unbelievably easy finance when I needed it the most. A huge thank you from me and as a returning customer I know that I am getting a fair deal.

After 5 to 10 minutes of filling up my application, my loan has been approved and the money was in my bank account. I had a great experience that is why I'm giving them a 5-star rating. Excellent service. Thank you very much, MoneyMe.

Amazing through and through. MoneyMe helped me out when no one else would and they have been a delight to deal with. I 100% recommend their service. They're an absolute joy to deal with!

4.7/5

Review Stars Out of 2,701 reviews

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Transparent and
simple pricing

Interest rate

6.25 %
p.a.
to 19.95 %
p.a.

Comparison rate*

7.64 %
p.a.
to 21.32 %
p.a.

Establishment fee

$295 for loans between $2,100 and $5,000

$395 for loans between $5,001 and $15,000

$495 for loans between $15,001 and $50,000

Monthly fee

$10.00

Loan terms

Minimum 1 year

Maximum 5 years

Early exit fees

None

*This comparison rate is based on an unsecured personal loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. A $495 establishment fee and $10 monthly fee applies.

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