Used Car Loan

Get the best car financing deals with a used car loan option. Whether you are buying a car for the first time or upgrading on wheels, you will need affordable auto financing. A used car loan gives greater opportunity for you to save on monthly payments. If you’re looking for better deals for purchasing your dream car, then MoneyMe can help.

MONEYME offers fixed interest rate finance options that will work for your pre-owned auto loan. Our unsecured car loan does not require asset security. If you avail of a second-hand car loan with MONEYME, you can enjoy low-interest rates. If you are interested to know more, then explore our auto loan options today!

A used car loan works much like a new car loan: you borrow a certain amount of money for the purchase of a car and pay it back with interest over a set loan term. The only difference between them is that a used car loan is intended for second-hand vehicles.

MONEYME offers unsecured used car loans up to $50,000. You can apply for a loan online in minutes and get an instant decision. We’ll even deposit the money into your account on the same day that you applied for a loan.

Some may be concerned about hidden car problems and car reliability when they buy used cars. But with detailed car check-ups and inventories, you can purchase a used car without any worries. In recent years, more and more car owners have opted to avail of used car finance deals as they know that they can get a good car at a reasonable price. In addition to this, used car loans with online lenders like MONEYME have other benefits that you can take advantage of.

Shopping for a car means getting affordable and fixed-rate financing options. Once you decide to get a used car loan, you’re up for attractive and great loan deals that you wouldn’t think exist. Bank and car dealership financing will usually charge higher interest rates for used cars as they know they wouldn’t get a good resale value of the car when repossessed. Lenders like them offer secured loans that require collateral to get approved. 

However, when you take advantage of used car finance through MONEYME, you wouldn’t be required to offer any asset as collateral to become eligible for loans. We use your personal information, your creditworthiness, and your financial capacity to be qualified for a used car loan. 

MONEYME also considers your credit score in determining whether you qualify for a used car loan. The better your credit score is, the greater chances you’ll be approved for used car loans. However, if you don't have an ideal credit history, you may still apply and be approved for a loan with MONEYME depending on your financial situation and personal circumstances.

The moment you buy a new car and drive it away from a showroom means that the car value depreciates about 20 per cent of its original value. Reality is, cars depreciate faster. When you purchase a used car, you know that it has already undergone depreciation and has lost a chunk of its value. A second-hand car finance online lender like MONEYME offers competitive used car loans interest rates charged over the course of your auto loan. You don’t need to worry about the slow depreciation of used cars as it won’t affect your monthly repayment and used car finance rates. You can enjoy a more fixed loan-to-value ratio in used car loan comparison than new car loans.

Purchasing a new car requires you to loan a bigger amount of money than buying used cars. Getting a larger loan means you may opt for longer payment terms and pay a high interest rate. When you choose used car loans, it helps you save on your monthly repayments through shorter loan terms that you can afford. Since the value of used cars has depreciated, you can expect a lesser cost of the car’s total amount. You spend less when you avail of a loan for a used car while getting your money’s worth with low interest payments. When you pay a lesser cost in auto loans, you can arrange for a shorter loan term that will allow you to pay less interest rates until payment is completed.

MONEYME provides you with flexible repayments with no early exit charges. You won’t be charged with any fees should you be able to pay your existing used car loan ahead of time.

When you apply for a used car loan at MONEYME, you only need your mobile phone, laptop, or tablet. You have to fill out and complete the loan information needed such as employment status, income details, living expenses, and credit history. This will only take you about three minutes to finish. 

All information provided will help us determine your ability to pay off your loan. Upon submission, you will receive an email notification about your loan account details. If you’ve supplied all the needed information, you can expect fast approval and immediate fund transfer especially when you apply during business hours. 

Apply today and complete your used car loan application with just a few clicks. Enjoy fast and easy online application at MONEYME with no face-to-face and lengthy paperwork! Save on waiting time with our same-day loan approval and on-the-day fund transfer.