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Secured Personal Loan Fixed

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I want to borrow

Loan Term

years

Repayment Frequency

Secured Personal Loan Fixed Pros and Cons

Pros:
  • Can apply online
  • Can apply in branch
  • Suitable for both new or used car
Cons:
  • Monthly fee charged
  • Application fee charged
  • Requires security to be held
  • Has ongoing fees
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Bank of Melbourne Secured Personal Loan Fixed Fees and Features

New Car
New Car
Used Car
Used Car
Motorcycle
Motorcycle
Boat
Boat
Upfront Fee
Upfront Fee
$195
Early Exit Penalty Fee
Early Exit Penalty Fee
Fee Applies
Borrowing range
Borrowing range
$3k - $80k
Total Repayments
Total Repayments
$36,900
Missed Payment Penalty
Missed Payment Penalty
$9
Redraw Activation Fee
Redraw Activation Fee
N/A
Repayment Type
Repayment Type
Fixed
Loan Type
Loan Type
Secured
Secured by vehicle
Secured by vehicle
Available to 457 Visa Holders
Available to 457 Visa Holders
Redraw Facility
Redraw Facility
Extra Repayments
Extra Repayments
New Car
New Car
Used Car
Used Car
Motorcycle
Motorcycle
Boat
Boat
Upfront Fee
Upfront Fee
$195
Early Exit Penalty Fee
Early Exit Penalty Fee
Fee Applies
Borrowing range
Borrowing range
$3k - $80k
Total Repayments
Total Repayments
$36,900
Missed Payment Penalty
Missed Payment Penalty
$9
Redraw Activation Fee
Redraw Activation Fee
N/A
Repayment Type
Repayment Type
Fixed
Loan Type
Loan Type
Secured
Secured by vehicle
Secured by vehicle
Available to 457 Visa Holders
Available to 457 Visa Holders
Redraw Facility
Redraw Facility
Extra Repayments
Extra Repayments

Based in Victoria, Bank of Melbourne provides customers with car loan products to suit a multitude of needs. They allow customers to borrow between $3,000 – $80,000 towards the car of their dreams. Bank of Melbourne also allow customers to choose their preferred payment frequency, allow a redraw facility, as well as provide internet banking access to track repayments.

FAQs

There are multiple lenders who are willing to provide loans secured by guarantors.

If someone is willing to go guarantor for you and they meet the requirements set out by lenders, you can apply for guarantor finance online, over the phone, or in person.

Some banks also provide guarantor car loans, though because they’re larger banks, they may have higher interest rates than smaller lenders.

You may want to compare guarantor car loans at RateCity, and find a guarantor car loan ideal for your purposes.

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