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If your purchasing a private sale asset such as a car, motorbike, boat, caravan or horse trailer, wanting funds for the home renovation or looking at consolidating debt, an unsecured loan is an option worth looking at.
An unsecured loan provides you with the flexibility of financing assets where there is no security or collateral required for the loan.
Although secured loans can provide you with quicker loan approvals and generally better interest rates, there are some factors which must be taken into consideration.
When applying for a secured loan, it is important to take into consideration the asset you are purchasing directly affects the interest rate and loan term. This means for an older model car, motorbike, caravan or boat the interest rate offered will be different to that of a newer model.
UNSECURED LOANS AVAILABLE FOR
UNSECURED LOAN FEATURES
No Collateral Needed
Unlike a secured loan, there is no need to offer any security or collateral for the loan, meaning you are free to buy and sell your asset without any need of completing the loan.
You don’t need a deposit if purchasing a vehicle with an unsecured loan. As long as you meet the lenders criteria and qualify for your nominated loan amount, the funds are yours to do with as you please.
The loan term you choose is up to you. These can range from 1 through to 7 years and can be tailored to suit your budget. Although you can complete the loan before 12 months, many lenders have a minimum contracted term of 12mths.
Any worthwhile use
An unsecured loan can be used for any worthwhile use. This includes asset purchases such as cars, motorbikes, caravans and boats through to home renovations, travel, surgery, wedding, debt consolidation and more.
Our panel of lenders allow you to repay the loan early generally with no early payment fees. This means paying less in interest over the term and saving in additional costs.
Unsecured Loans are based on your current credit rating and score. This means the interest rate fluctuates from lender to lender. A higher credit score will help you achieve a better result than having a lower overall score.
ABOUT UNSECURED LOANS
An unsecured loan is essentially a personal loan that does not require security to be held by the lender. This means that when you apply for an unsecured loan, the funds can be used for any worthwhile purpose.
Yes most definately! An unsecured loan can be used to purchase private sale assets and do not require any vehicle inspection reports or additional paperwork from the seller. You can have the funds in your bank account ready for when you find a bargain.
An unsecured loan is a personal loan where funds are paid to you. Typically most people use unsecured loans for used vehicle purchases, classics and purchases where you need to pay cash.
To apply for an unsecured loan, follow our easy online application.
The more information you can provide the better result and more options are available to you.
Your loan consultant will be able to assess and deliver a suitable answer for you.
Yes, we offer a wide range of lenders for you to choose from and work hard to find and present your application correctly to ensure we receive the right answer. Unsecured loans can be difficult with main stream lenders if you have poor credit, however there are plenty of options still available.
Unsecured loans are generally structured from 1 to 5 year loan terms, with an option for 6 – 7 years if required.
You can choose from weekly, fortnightly or monthly repayments for unsecured personal loans. You also have the option to repay higher repayments or make lump sum payments if required.
Secured Loans are generally offered for higher loan amount purchases. As the lender uses your purchase as security for the loan if you default on your repayments the lender may reposses the asset to sell and recover their funds. With an unsecured personal loan, the lender does not take any security or collateral. The downside is you may have to pay a higher interest rate
CALCULATE YOUR UNSECURED LOAN REPAYMENTS
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PROS & CONS OF UNSECURED LOANS
Why Choose Us?
We understand unsecured loans and our process streamlines your loan to deliver quick answers.
We’re backed by national buying power, meaning we’re in the best position possible to negotiate better, more affordable finance rates for you.
We compare lenders and banks from our panel to find the best available outcome. Our system checks your loan throughout our panel of lenders without negatively affecting your credit rating to provide you transparent results helping you make a confident, informed decision.
At iCREDIT , we process thousands of loans each year, have in-depth knowledge of lender guidelines so we can present your loan correctly, giving you the best opportunity to get the right answer.
We’ve helped thousands of Australians find their loan.
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iCREDIT unsecured loans are available throughout Australia, Melbourne, Sydney, Adelaide, Hobart, Darwin and Perth, Gold Coast, Palm Beach, Burleigh Heads, Tweed Heads, Brisbane, Ipswich, Sunshine Coast, and Queensland Today!