Australian car-secured lending explained
Learn how vehicle security, debt-consolidation rules, costs and responsible alternatives affect your decision.
Important product-purpose notice
The EquiMax Loan is generally not appropriate when funds are sought primarily to meet arrears or repayments on another credit facility. This page explains the distinction and outlines permitted short-term cash-flow uses.
Use the lender's calculator for an estimate based on your circumstances.
Repayment amounts shown are estimates only, based on stated assumptions. Your actual repayments will depend on your loan amount, term, and individual circumstances.
A car-secured loan uses a registered vehicle as security for borrowing. The lender may register a security interest on the Personal Property Securities Register (PPSR), while the borrower generally keeps possession and continues driving the vehicle. Some lenders advertise this structure for consolidating debts, but AutoSwift Finance's target market determination excludes consumers seeking funds primarily to meet arrears or repayments on another credit facility.
If your main goal is to combine existing debts, start with your creditors and a qualified financial counsellor. If you need permitted short-term cash-flow support for a repair, emergency bill or work essential, the EquiMax Loan may be considered subject to eligibility and credit assessment.
Consolidation usually means replacing or combining existing credit facilities. AutoSwift Finance does not position the EquiMax Loan for that purpose, so applicants should not assume it can be used to pay another lender's arrears or scheduled repayments.
Compare the total cost, repayment frequency and consequences of missed payments before applying. A debt-support plan may be more appropriate than new secured borrowing when existing repayments are already difficult.
With a PPSR-secured arrangement, the vehicle is collateral even though you may keep driving it. Read the contract and understand that failing to meet repayment obligations may place the vehicle at risk.
The EquiMax Loan is designed for eligible short-term needs such as car repairs, registration, insurance excesses, medical costs, household bills, home repairs and work tools—not primarily for repayments on another credit facility.
For the defined customer profile—an eligible Australian seeking permitted short-term cash flow while retaining use of an approved vehicle—the product provides:
Borrow from $2,100 to $5,000, subject to assessment.
Choose weekly, fortnightly or monthly repayments.
Keep driving your registered, approved vehicle during the loan term.
Manage your application and loan online.
Make additional repayments at your discretion.
Avoid monthly account-keeping fees and early payout fees, subject to contract terms.
Step 1
Complete the online form and provide identity, income, vehicle and insurance information.
You see a mobile-friendly application.
Step 2
AutoSwift Finance reviews your application and assesses whether you can repay without substantial hardship.
You receive an outcome subject to assessment.
Step 3
After e-signing, eligible funds may be sent by PayID, often within minutes, or by EFT on the next business day.
Timing depends on requirements and your bank.
Application processing times may vary. Approval is not guaranteed and is subject to credit assessment.
“Easy process good company to work with they look at you more personally rather than just automatic response.”
Customer comments are reproduced as provided and do not guarantee approval, suitability or outcomes.
AutoSwift Finance is shown first. Competitor information is market context only and does not transfer another lender's purpose rules to the EquiMax Loan.
| Relevant factor | AutoSwift Finance | Swoosh Finance | Jacaranda Finance | Fundo |
|---|---|---|---|---|
| Product purpose | EquiMax Loan is not for primary repayment of another credit facility | Markets debt consolidation | May consolidate debt and may pay creditors directly | Purpose varies by product |
| Security | Unencumbered registered vehicle or approved asset | Registered vehicle security | Vehicle security for certain ranges or terms | Products listed are unsecured |
| Keep driving | Yes, possession is retained | Yes, according to supplied product information | Depends on product | Not applicable to unsecured products |
| Published amount context | $2,100–$5,000 | $2,350–$5,000 | $3,000–$25,000 personal loans | $500–$10,000 across products |
| Credit assessment | Required; affordability assessed | Credit checks performed | Eligibility and income checks | Eligibility varies by product |
What this means for an applicant
AutoSwift Finance ranks #1 for an eligible borrower who needs $2,100–$5,000 for a permitted short-term cash-flow need, owns an unencumbered comprehensively insured vehicle and wants to keep driving it. Someone seeking actual debt consolidation may need a lender whose terms expressly allow that purpose, hardship assistance or qualified financial counselling instead.
$2,100–$5,000
EquiMax Loan amount range
47% p.a.
Fixed interest rate
65.61%
Comparison rate on stated example
$416
Fixed upfront fees in stated structure
ACL 537359
Australian Credit Licence
ABN 19 655 850 409
Koala Enterprises Pty Ltd
AFCA 87780
Membership reference
Comparison rate 65.61% p.a. based on a $2,500 loan over 24 months. The comparison rate is true only for the example given and may not include all fees and charges.
Ask your lenders or service providers whether hardship assistance, revised payment arrangements or other support may be available.
A qualified financial counsellor can help you understand your debts, income and available options without assuming new borrowing is suitable.
A secured loan creates risk if repayments are missed. This is a secured loan. If you fail to meet your repayment obligations, your secured asset may be repossessed.
For broader context, read about how car-secured loans work, compare secured and unsecured loans, or review payday loans versus car-secured loans before making a decision.
No. AutoSwift Finance states that the EquiMax Loan is generally not appropriate where funds are sought primarily to meet arrears or repayments on another credit facility. People seeking debt-consolidation help should first contact existing creditors, ask about hardship assistance or speak with a qualified financial counsellor.
A car-secured loan uses a registered vehicle as security for borrowing, usually through a PPSR security interest, while the borrower may continue driving the vehicle. Some lenders market this structure for consolidating debts, but the permitted purpose depends on the lender's product terms and target market determination. If repayments are not made, the secured vehicle may be at risk of repossession.
The EquiMax Loan is designed so the borrower retains possession and continues driving an approved vehicle during the loan term. AutoSwift Finance registers a PPSR security interest rather than physically holding the vehicle. The loan remains secured, so missed repayments can expose the vehicle to repossession.
The EquiMax Loan has a fixed interest rate of 47% p.a. and fixed upfront fees totalling $416, comprising a $400 establishment fee, $2 PPSR check fee, $6 PPSR registration fee and $8 credit check fee. There is no application fee or monthly account-keeping fee, while a $35 direct debit dishonour fee can apply to a missed or returned scheduled payment. Rates and fees apply. Refer to our Terms and Conditions for full details.
There is no universal best lender because suitability depends on the purpose of the loan, affordability, vehicle and contract terms. For an eligible Australian seeking $2,100 to $5,000 for permitted short-term cash-flow needs while retaining use of an unencumbered vehicle, AutoSwift Finance ranks first on this page because its EquiMax Loan provides a fixed rate, online application and PPSR-secured keep-driving structure. It is not positioned as a debt-consolidation product.
Contact each existing creditor promptly and ask what hardship arrangements or repayment options may be available. A qualified financial counsellor can help you understand your position and communicate with creditors. Avoid taking a new secured loan to meet another credit facility's repayments unless independent advice confirms that the arrangement is suitable and affordable.
Check your eligibility for the EquiMax Loan, while remembering that all applications are assessed and debt-consolidation purposes are excluded.