Car loans

RateCity Staff

By RateCity Staff

1 min read

When purchasing a car there are two types of car loans that you can choose from: a secured car loan or an unsecured car loan.

Secured loans are tied to an asset that you own, providing a safeguard for you and your lender if you're unable to make your repayments. In the case of a secured car loan the security is generally the car. As it is secured there is less risk involved in lending you funds and therefore the interest rate on a secured loan will generally be lower than an unsecured car loan, where no security is required.

Both loans can be used to purchase a car and both types of car loans can be compared on RateCity.com.au 

To find out how much you could be saving on your repayments go to our car loan comparison page or use the car loan calculator to find out how much you can borrow and how much you'll need to repay.

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