Unsecured Car Loans with No Vehicle Held as Security.
No security required. An unsecured car loan, often written as a personal loan, gives you flexibility when the vehicle doesn't meet standard security criteria or you'd rather not tie the asset to the loan.
Unsecured car loans from 5.95% p.a. Comparison rate 5.95% p.a.*
No collateral required · Same day pre-approval possible · Straightforward advice
UNSECURED vs SECURED
When an unsecured or personal car loan makes more sense.
Unsecured and personal vs secured car finance
Older or unusual vehicles that don't qualify as security
Many lenders refuse to accept vehicles older than 7-10 years as collateral. An unsecured loan removes the age restriction entirely.
You want flexibility without lender restrictions on the asset
A secured lender can require comprehensive insurance and restrict vehicle modifications. Unsecured loans give you more autonomy over the asset.
You have strong credit and want a clean loan structure
Borrowers with excellent credit can access competitive unsecured rates that aren't far from secured alternatives. We compare both.
One application, full panel comparison
We compare unsecured car loan options across the panel, and we assess your profile before anything goes to a lender, so comparing does not affect your credit file.
The process
Getting an Unsecured Car Loan. In 4 Steps.
Tell us about you
Share your income, employment type and what you're looking to purchase.
We compare unsecured lenders
Your broker compares unsecured options for your credit profile.
Review your options
See rate, term and fee comparisons before you decide anything.
Funds paid directly
Once approved, funds transfer directly to the seller or dealer, or into your own account so you can complete a private sale yourself.
Unsecured car finance for the cars that don't fit the standard mould.
Step 1 of 5
What makes a car loan unsecured
An unsecured car loan is written as a personal loan. Nothing's registered against the car, and the lender's decision comes down entirely to your overall profile, not the vehicle.
That is exactly why it suits cars which do not fit standard lending rules, such as classics, grey imports, project cars, or anything bought without a clean title.
The benefits of an unsecured car loan
No security interest means no lender approval needed to sell, modify or restore the car down the track, which is exactly what owners of older or project vehicles want.
Funds also come directly to you, which makes private sales and auction wins easier to handle. The same loan can cover registration or early repairs alongside the car itself.
Deciding if unsecured finance fits your purchase
It's the natural fit when the car doesn't meet a lender's security rules, or when you'd simply rather not have anything registered against it. Expect the rate to sit above secured lending, since the lender is carrying more of the risk.
If your credit file is strong, that gap is often smaller than people expect, so it is worth checking the actual numbers before ruling unsecured out.
Applying for an unsecured car loan
Your credit profile and the car you're buying are matched against unsecured options across our lender panel, rather than sent to lenders one by one.
Most unsecured applications get a pre-approval decision the same day, and with no security to register, settlement can move even quicker than a secured loan.
Getting the most from an unsecured car loan
Pull your credit report before you apply. Unsecured lending rests on it more than a secured loan does.
Get pre-approved ahead of time, particularly for an older, classic or imported car, where the sale itself can move fast. Weigh the total cost against a secured alternative where one is available to you.
Unsecured car finance at a glance
- No security interest is registered against the vehicle
- The practical option for classic, vintage, imported or project cars
- Approval rests on your credit profile rather than the car
- Unsecured options are compared across our lender panel in one enquiry
- Most unsecured applications get a pre-approval decision the same day
Unsecured Car Finance for Every Situation
An unsecured car loan is written as a personal loan. The approval sits with you, not the vehicle. That makes it the right fit for older vehicles, unique assets, private sales, or borrowers who prefer a clean loan structure without collateral. We compare the panel for your specific situation.
Get my quoteNo Vehicle as Collateral
The loan is assessed against your income, creditworthiness and overall profile, not the car.
Older Vehicles Welcome
Vehicles that don't meet lender security criteria can still be financed on an unsecured basis.
No Security Registration
No PPSR security interest is registered against the vehicle, so you can sell or modify it without lender approval.
Simple for Private Sales
Funds can be transferred directly to you, which simplifies private sale and auction purchases, and can also cover registration, insurance and initial servicing costs.
Faster Settlement
Without security registration requirements, settlement can be quicker in some cases.
Good to Excellent Credit Preferred
Unsecured loans tend to reward stronger credit profiles with better terms, and we compare the full panel to find the right fit for you. If your credit history isn't perfect, some lenders on our panel still consider unsecured applications, so it's still worth a conversation.
Unsecured & Personal Car Loan Repayment Calculator
Estimate your repayments. Adjust the sliders to match your situation.
Monthly repayment
$456
per month
Weekly
$105
Total repayment
$16,428
Estimates only. Your actual rate depends on your profile and lender. Get a real comparison.
Get my quoteAbout the starting rate
6.00% p.a. is a starting point for estimating repayments only. It is not a quote, not an offer of finance, and not a rate available to every applicant. Your actual rate depends on the lender, the asset, the loan term, the loan amount and your circumstances. Adjust to model scenarios.
More Car Finance Options
Finance first.
Then the car.
Your broker compares the market against your car, your deposit and your profile, so any offer you are shown becomes something you can measure rather than something you have to accept.
Car Finance Guides
Written by a licensed broker for Australian borrowers.
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Comparison Rate vs Interest Rate: What's the Difference?Two rates appear on every Australian loan ad, and they rarely match. What the comparison rate includes, why it exists and which one to compare on.
Car Finance for Self-Employed and ABN HoldersNo payslips does not mean no car loan. How self-employed Australians and ABN holders get car finance, what documents lenders accept.See all 10 car finance guidesWho we help
Who Benefits from Unsecured Car Loans
Older Vehicle Buyers
Vehicle age blocks secured lending. Unsecured is the path.
Strong Credit Holders
Excellent credit, no asset used as security, clean structure.
Private Sale Buyers
Buying from a private seller where security is complex.
Modified Vehicle Buyers
Lender restrictions on modifications don't apply unsecured.
Classic or Unique Vehicle Buyers
Vehicles that don't fit standard lender security criteria.
18 years or older
Australian citizen, permanent resident, or eligible visa holder
Regular income: PAYG, self-employed or ABN considered
Good to excellent credit profile preferred (adverse considered by specialist lenders)
No vehicle age or condition restrictions apply
Unsecured & Personal Car Loans. Common Questions.
A standard car loan is typically secured against the vehicle, giving the lender the right to repossess if you default. A personal car loan is unsecured and based solely on your creditworthiness. Unsecured loans carry no vehicle restrictions and the funds can be used more flexibly.
Rates start from 5.95% p.a. (comparison rate 5.95% p.a.)*. Lenders charge a higher rate on unsecured loans because they have no asset to recover in the event of default. The increased risk is priced into the interest rate. For borrowers with excellent credit, the rate difference between secured and unsecured is often smaller than expected.
Effectively yes. A personal car loan is a personal loan used to purchase a vehicle, which is also how an unsecured car loan is written. Some lenders market vehicle-specific personal loan products with slightly different terms or rates, but the underlying structure is the same. Your broker compares both categories to find an option that suits your profile.
Yes. Because the loan is not secured against the vehicle, there are no age restrictions on the asset. The approval is based on your creditworthiness and income. This makes unsecured and personal car loans the practical option for classic, vintage or very old vehicles.
Most lenders offer unsecured car loans up to $50,000-$75,000 for strong applicants. The limit is determined by your income, credit score and existing debt. Your broker will assess your borrowing capacity before comparing lenders.
Personal loan applications can move faster than secured car loans because there's no vehicle valuation or security registration involved. Many applications are assessed and funded the same day.
A formal application generates a credit enquiry that is recorded on your file. Your broker assesses your profile first, which does not touch your credit file. Only once you've chosen to proceed does a formal enquiry take place.
Most variable-rate unsecured and personal loans allow extra repayments and early payout without penalty. Break costs on fixed-rate loans vary by lender, and many fixed-rate personal loan lenders don't charge them at all. Your broker will compare extra repayment and early payout conditions across lenders if this is a priority for you.