Secured car loans
Looking for a secured car loan? The table below shows secured car loans from our Online Partners, based on a loan amount of $40,000 for a new car.
Instantly compare 290+ Canstar expert rated products based on the inputs below
Additional repayments and Redraw facility
No monthly/on-going fees
New Cars, Borrow between $2,001 - $75,000
No early repayment, exit or monthly fees
Fixed rate term and no ongoing fees
Get a loan from a name you can trust
Showing 6 of 215 results
To see more results adjust the filters above
Unsure of a term in the above table? View glossary
The initial results in the table above are sorted by Star Rating (High-Low) , then Comparison rate^ (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, see top of table for details.
About secured car loans
If you are in the market to purchase a new or almost new vehicle, a secured car loan might be an option. Here, we consider how these kinds of loans work, as well as some potential things to be wary of.
What is a secured car loan?
A secured car loan is one in which your car acts as collateral or ‘security’ against the money you have borrowed. This means that, if you are unable to make your required repayments on the loan, your lender will have the right to repossess your vehicle in order to recoup any money they may still be owed.
Explore: Unsecured car loans
How do secured car loans work?
Secured car loans work in much the same way as any other kind of loan, in that you will apply to your lender of choice, who will then assess your financial position and ability to repay the loan, and potentially grant you approval. After this, you will pay off the balance of the loan in agreed instalments, typically monthly, along with any interest that is owing, until the debt is repaid, or until you refinance the loan.
Generally speaking, secured car loans can only be used to purchase new or almost new cars – a lender might not accept an older second-hand car as security against the loan. In this situation, if you still wish to apply for a loan to purchase a vehicle, you may need to consider another option, such as an unsecured car loan.
From our friends at Canstar Blue: How much do Australians spend on new cars?
Frequently Asked Questions about Secured Car Loans
Latest in car loans
Canstar Car Loans Star Ratings and Awards
Looking for an award-winning car loan or to switch lenders? Canstar rates products based on price and features in our Personal and Car Loans Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall.
Canstar rates a range of financial products, covering banking, insurance and investment. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.
Explore more Car Loans:
About the authors
Alasdair Duncan, Senior Finance Journalist
Joshua Sale, Group Manager, Research & Ratings
As Canstar’s Ratings Manager, Josh Sale is responsible for the methodology and delivery of Canstar’s Personal & Car Loans Star Ratings and Awards. With tertiary qualifications in economics and finance, Josh has worked behind the scenes for the last five years to develop Star Ratings and Awards that help connect consumers with the right product for them.
Josh is passionate about helping consumers get hands-on with their finances. Josh has been interviewed by media outlets such as the Australian Financial Review, news.com.au and Money Magazine.
You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.
Thanks for visiting Canstar, Australia’s biggest financial comparison site*
Important information
For those that love the detail
This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.