Personal
loans for
kicking goals

Low rates starting from 9.19% p.a. (comparison rate from
10.58% p.a.*) with money in your bank account in as little as
60 minutes.

Won’t impact your credit score!
Won't impact your credit score!

Estimate your repayments

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$

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Estimated monthly repayments

$910.72

Example interest rate

9.19% p.a.

Comparison rate*

10.58% p.a.

Total charges

$1,857.28

Total repayments

$21,857.28

It won’t affect your credit score!

An award-winning experience

Check our rates and fees

Interest rate (p.a.)

9.19

% p.a.

up to

23.99

% p.a.

Comparison rates (p.a.)*

10.58

% p.a.

up to

26.58

% p.a.
*This comparison rate is based on an unsecured variable rate 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. $495 establishment fee and $10 monthly fee applies.
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*This comparison rate is based on an unsecured variable rate 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. $495 establishment fee and $10 monthly fee applies.

Second-Hand Car Loan



As everyone seeks to secure less risky methods than public transport, the second-hand car loan is now booming. As with any kind of loan, a second-hand car loan has many types that every borrower needs to assess and consider. Basically, unsecured loans and secured loans are the two choices when it comes to car loans. By knowing each of its advantages and disadvantages, you can assess which one is best for you. In addition, you might want to also think about a redraw facility, repayment frequency, and balloon payments associated with a second-hand car loan. 

If in doubt about which kind of second-hand car loan is right for you, come to MONEYME. You can enjoy flexible repayments with no early-exit fees, and the money can get straight to your wallet quickly once your loan is approved. Our car loans are also unsecured, which means you will not lose your asset if you default. With a maximum loan amount of $50,000, MONEYME is now one of Australia’s favourite and fastest online lenders. 



How does a second-hand car loan work?

If you’re one of the Australians who can’t pay for a car in cash, then try considering a second-hand car loan. When you get approved for a car loan for used car, lenders will give you the option to pay for your purchase in affordable monthly instalments instead of a lump sum payment. Typically, a second-hand car loan can be compared to a personal loan or a new car loan in terms of the application process, the fees, the charges, and the inclusion of interest rates. If you’re considering the used car finance option, you’d apply for a loan with a lender. Once approved, you’d pay it off according to your loan terms, including the interest, and it is payable from twelve months to five or up to seven years. 

In most cases, a second-hand car loan is usually secured. Secured loans only imply that the asset being purchased will serve as your collateral for the loan. Additionally, defaulting on the loan means that the lender has the power to repossess the asset and sell it to recover its losses.

If you are looking for unsecured car loans that don’t require a car as collateral for a second-hand car loan, MONEYME is the key. Choosing us means that you can enjoy lower interest rates than any traditional lenders and the top four banks in Australia and loan approval within minutes after applying.



What are the benefits of a second-hand car loan?

Opting for a second-hand car loan rather than a new one can save you a huge amount of money in several ways. Here’s why:



Less vehicle depreciation

A used car is widely known to offer much less depreciation compared to a new vehicle. This is because brand new cars depreciate the moment they leave the lot, but a used vehicle equals slower depreciation, connoting a more stable loan-to-value ratio.



Reduced car insurance costs

The value of the car is the prime factor of consideration in determining the cost of a vehicle. Because a used car has lesser value than a new vehicle, the cost of insurance in a used car loan is also the same.



Lower dealership fees

Used car finance rates associated with a used vehicle are less expensive than the fees that come with a new vehicle. Why? The value of the vehicle speaks for the fees and charges behind it. This only means that if you are lacking in cash to buy a car, choose a used car using a second-hand car loan. 



Affordability 

When your wallet might be too tight to get a new car, a second-hand car loan is there to save you with your aim to secure a second-hand vehicle loan. A used vehicle is way more affordable than a new one in terms of the car value, interest rate, insurance costs, and other fees and charges that are usually associated with a car.



How to apply for a second-hand car loan?

Applying for a second-hand car loan with MONEYME is almost the same as with other auto financing deals. The main difference is that with other lenders, you may be asked to provide additional supporting documentation, such as asset ownership. MONEYME only requires read-only access to your bank statements for the past 90 days.

The first step is to fill out our online application form. You’ll need to provide some personal details, like your name, contact information, and driver’s licence number. You’ll also need to let us know how much you want to borrow and over what period.

Once we have all the necessary information, one of our loan specialists will assess your application and get back to you with a decision within minutes (provided you applied during our business hours). If your loan is approved, we’ll send you a contract to sign electronically. Once that’s done, the money will be transferred to your account within the same day.

MONEYME’s loan offers, whether a personal car loan or credit card, are made to help you get on the road with a new set of wheels faster. To come up with the fairest and most accurate lending decision, we base our second-hand car loan approval on looking at your entire financial situation, including your cash flow, debt obligations, monthly income, and living expenses.

Want to get started? Apply at MONEYME where your convenience is our priority. 

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How to apply

1 Check your rate

See your interest rate and repayments in less than
5 minutes. It won’t impact your credit score!

2 Submit your application

Review your loan offer, hit 'submit application', and
we'll take care of the rest.

3 Get your funds

If approved, you can have money in your bank account
in as little as 60 minutes.

Must be Australian citizen, New Zealand citizen or permanent resident

Earn more than $30,000 p.a. from employment

Must at least be 18 years old

Bank-grade security

‘Read only' access to accounts

256-bit data encryption

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Second-Hand Car Loan

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