Car repairs and vehicle costs
A vehicle-related expense can affect work and everyday travel. Eligible borrowers may use funds for car repairs, registration, tyres or an insurance excess, subject to assessment and the loan contract.
What Is the EquiMax Loan? (Quick Definition)
The EquiMax Loan is a secured, fixed-term loan for eligible Australians who own an approved vehicle and need a defined amount for a short-term lawful purpose. The loan is secured by a registered vehicle or another approved asset, with a PPSR security interest registered. You continue using and possessing your car while making the scheduled repayments, but the vehicle may be repossessed if you fail to meet your repayment obligations.
This is a secured loan. If you fail to meet your repayment obligations, your secured asset may be repossessed.
When Borrowing Against Your Car May Help
The EquiMax Loan is designed for a specific short-term cash flow need, rather than an ongoing credit limit. The following examples are lawful purposes described in the product information.
Unexpected household expenses
The approved use cases include medical or dental expenses, home repairs, rent, bond, utilities and temporary cash flow gaps. You must still demonstrate the capacity to make repayments without substantial hardship.
Work tools and essentials
Depending on eligibility, lawful short-term needs can include work tools, equipment, electronics or training fees. AutoSwift Finance reviews income, expenses, liabilities and repayment capacity before making a decision.
An approved vehicle you still need
This is borrowing against a vehicle you already own, not a vehicle-purchase loan. You keep driving the car for work, family commitments and everyday travel while the loan remains in place and repayments are maintained.
What You Get
The EquiMax Loan combines a defined loan amount with a fixed repayment structure. Review the vehicle, eligibility and cost requirements carefully before applying.
Borrow between $2,100 and $5,000 for an approved short-term purpose.
Choose weekly, fortnightly or monthly repayments aligned with your pay cycle.
Keep full use and possession of your approved vehicle throughout the fixed 12 month term.
See fees itemised upfront, including the $416 total fixed upfront fees deducted at the start.
Make additional repayments at your discretion, subject to the contract.
Apply and manage the loan online with digital servicing throughout the loan term.
Rate and cost information
Fixed interest rate of 47% p.a. Rates and fees apply. Refer to our Terms and Conditions for full details.
The comparison rate is 65.61% p.a. based on a $2,500 loan over 24 months. A representative example shows a total repayment of $4,510.33 and includes $416 in fixed upfront fees. The comparison rate is true only for that example and may not include all fees and charges. Different terms, fees or loan amounts will result in a different comparison rate.
| Fee | Amount | Details |
|---|---|---|
| Establishment fee | $400 | Deducted at the start |
| PPSR Check fee | $2 | PPSR security check |
| PPSR Registration fee | $6 | Registration of the security interest |
| Credit Check fee | $8 | Credit assessment check |
| Total fixed upfront fees | $416 | Deducted from the amount borrowed at the start |
| Application fee | $0 | No application fee |
| Monthly account-keeping fee | $0 | No monthly account-keeping fee |
| Dishonoured Payment Fee | $35 | Per missed or returned scheduled payment |
| Early payout fee | $0 | Subject to contract terms |
| Reschedule Fee | $25 | Applies when a scheduled payment is rescheduled |
How It Works
The process starts online and includes identity, income, expense, vehicle and repayment-capacity checks.
Step 1
Apply online
Complete the online application and provide identity, income, vehicle registration and comprehensive insurance information as requested.
What you see: An online application form.
Step 2
We assess
AutoSwift Finance verifies your identity, reviews affordability and completes a credit assessment against its eligibility criteria.
What you see: An assessment and document review.
Step 3
Review and receive funds
If approved, review the offer, e-sign digitally and receive funds by PayID, often within minutes of disbursement, or by EFT the next business day.
What you see: A digital offer and e-sign process.
Application processing times may vary. Approval is not guaranteed and is subject to credit assessment.
Features (Grouped)
Core workflow features
- Apply online at any time.
- Provide vehicle, identity and income documents digitally.
- Receive an offer showing the applicable terms and fees.
- E-sign the loan documents without paper forms.
- Manage the loan through digital servicing.
Reliability & control
- Use a fixed 12 month repayment term.
- Choose weekly, fortnightly or monthly repayments.
- Make additional repayments at your discretion.
- Keep full use and possession of your approved vehicle.
- Review itemised fees before signing.
Integrations & export
- Receive funds by PayID once disbursed.
- Receive funds by EFT on the next business day.
- Upload registration and insurance evidence online.
- Submit payslips or self-employed income documents digitally.
- Use digital documents for the application and e-sign process.
Vehicle and Eligibility Checklist
Your vehicle generally needs to be
- Registered in your name and approved as security.
- Unencumbered, with no existing finance.
- Comprehensively insured.
- Not written off or stolen.
- A car, ute or van assessed individually.
AutoSwift Finance does not publish universal vehicle age or kilometre cut-offs. Vehicles are assessed individually.
Read more about vehicle requirements before starting an application.
You generally need to
- Be at least 18 years old.
- Be an Australian citizen, permanent resident or eligible Australian visa holder.
- Have an Australian residential address, contact number and email address.
- Have verifiable income and capacity to repay without substantial hardship.
- Provide information reasonably required for assessment.
Credit assessment and eligibility criteria apply to every application. The EquiMax Loan is a fixed-term loan, not a revolving credit facility.
Proof and Customer Feedback
- The EquiMax Loan amount range is $2,100–$5,000.
- The repayment term is fixed at 12 months.
- Borrowers can keep using and possessing an approved vehicle throughout the loan term.
- No monthly account-keeping fee and a $0 early payout fee, subject to contract terms.
“Easy process good company to work with they look at you more personally rather than just automatic response.”
L Groom
“Great experience with AutoSwift. The team is professional, responsive, and truly knows their space. highly recommend!”
nicole Z
“So cool! The best quality experience”
Leo Gray
Credentials & Key Stats
$2,100–$5,000
EquiMax Loan amount range
12 months
Fixed repayment term
47% p.a.
Fixed interest rate
537359
Australian Credit Licence
Fixed interest rate of 47% p.a. Rates and fees apply. Refer to our Terms and Conditions for full details.
FAQs
Can I borrow money using my car as security and keep driving it?
Yes, you retain full use and possession of an approved vehicle throughout the loan term. AutoSwift Finance registers a PPSR security interest, and you must continue meeting your scheduled repayments. This is a secured loan, so the secured asset may be repossessed if you fail to meet your repayment obligations.
Do I hand over my car?
No, the EquiMax Loan is not a vehicle pawnbroking arrangement. You keep possession of the approved vehicle and continue driving it while the loan is active. The vehicle remains security through a PPSR registration, subject to the loan contract.
Can I use a car that already has finance owing?
AutoSwift Finance’s standard requirement is an unencumbered vehicle with no existing finance. The vehicle is assessed as part of the application. If finance is already registered against the vehicle, it may not meet the standard security requirements.
How much does the EquiMax Loan cost?
The fixed interest rate is 47% p.a., and the comparison rate is 65.61% p.a. based on a $2,500 loan over 24 months. Fixed upfront fees total $416, comprising the $400 establishment fee, $2 PPSR Check fee, $6 PPSR Registration fee and $8 Credit Check fee. A $35 Dishonoured Payment Fee or $25 Reschedule Fee may apply in the circumstances described in the fee schedule.
Can I pay the loan off early?
Early payout is available at any time with a $0 early exit fee, subject to the terms of your contract. Additional repayments are also permitted at your discretion. Early payout is available subject to the terms of your contract.
What happens if I miss a repayment?
A $35 Dishonoured Payment Fee applies per missed or returned scheduled payment. Contact AutoSwift Finance as early as possible if you expect difficulty making a repayment. If you fail to meet your repayment obligations, your secured asset may be repossessed, so consider your repayment capacity carefully before applying.
Need to keep your car while accessing a defined amount?
Review the eligibility requirements and apply online for the EquiMax Loan, subject to credit assessment.