Accelerate your next purchase

You can apply for a Rapid Loans secured vehicle loan entirely online. Simply complete our secure online application and provide the required supporting documentation, including proof of identity, proof of income and details of the vehicle you’d like to purchase.

You may be eligible to apply if you:

• Are at least 18 years old
• Are an Australian citizen or permanent resident
• Have a regular source of income
• Meet our lending criteria

Our lending team will assess your application against our lending criteria and may request additional information where required. If your application is approved, we’ll provide your loan documents outlining your approved loan amount, interest rate, loan term and repayment schedule.

Eligible applicants can also apply for up to two weeks’ conditional pre-approval. Conditional pre-approval provides an indication of how much you may be able to borrow before choosing a vehicle. It is subject to conditions and does not guarantee final approval.

Once you’ve selected an eligible vehicle and all conditions for approval have been met, your loan can be finalised. If your application is approved and your loan settles, payment is typically made directly to the vehicle seller.

Rapid Loans offers secured vehicle loans from $5,000 to $45,000, with loan terms from 24 to 60 months, subject to our lending criteria and approval.

Your approved loan amount will depend on factors including your financial circumstances, the vehicle you’re purchasing and our lending criteria.

When planning your vehicle purchase, it’s also worth considering the ongoing costs of ownership, such as:

• Vehicle insurance
• Registration and applicable government charges
• Servicing and maintenance
• Fuel or charging costs
• Road tolls
• Roadside assistance

Rapid Loans offers fixed interest rates, which will be outlined in your loan contract if your application is approved. Your interest rate will depend on factors such as your approved loan product, loan amount and individual financial circumstances. We also do not charge early repayment fees, so you can make additional repayments or repay your loan early without penalty.

Yes. Rapid Loans offers secured vehicle loans for eligible new and used vehicles purchased from a licensed dealer or private seller, subject to our lending criteria and approval.

Whether you’re purchasing a vehicle for personal or business use, the vehicle used as security for the loan must be comprehensively insured for the duration of the loan.

If you’re unsure whether a particular vehicle is eligible, our team can answer your questions and explain the application process.

A secured car loan is a type of vehicle finance where an eligible registered vehicle is used as security for the loan. In many cases, this is the vehicle being purchased, although another eligible registered vehicle may be accepted as security, subject to our lending requirements.

If a borrower does not meet the terms of their loan agreement, the lender may have rights in relation to the secured vehicle.

At Rapid Loans, all vehicle loans are secured. Our secured vehicle loans offer loan amounts from $5,000 to $45,000, fixed interest rates, flexible loan terms and repayment frequencies, and a straightforward online application process, subject to our lending criteria and approval.

Applying for a car loan may affect your credit score. As part of the application process, Rapid Loans will conduct a credit check when assessing your application.

Making your repayments on time may have a positive impact on your credit history, while missed or late repayments may have a negative impact.

Rapid Loans offers secured vehicle loans for a wide range of eligible new and used vehicles, subject to our lending criteria and approval. Depending on the vehicle and your circumstances, this may include:

• Cars
• Motorcycles
• Caravans
• Boats and other eligible watercraft

If you’re unsure whether a particular vehicle is eligible, our team can answer your questions and explain the application process.

Yes. Rapid Loans offers refinance options for eligible vehicle loans, subject to our lending criteria and approval.

Refinancing allows you to replace your existing vehicle loan with a new loan. Depending on your circumstances, the new loan may have different interest rates, loan terms or repayment arrangements.

If you’re considering refinancing your current car loan, our team can explain how the process works, answer your questions and help you understand our loan products and application process.

Yes. Rapid Loans offers a fully online application process. Simply complete the online application form and upload your supporting documents for assessment.

Once we receive your application, our team will review the information provided. We aim to assess applications as quickly as possible, and in many cases eligible applicants receive a response within one business day.

If you have any questions during the application process, our team is available by phone to provide assistance.

Your scheduled loan repayments will depend on your approved loan amount, loan term and interest rate.

Rapid Loans offers flexible repayment frequencies, with repayments available weekly, fortnightly or monthly.

Before you accept your loan, you’ll receive details of your repayment amount, repayment schedule and other key loan terms so you understand your obligations.

The most appropriate car loan will depend on your individual circumstances and the type of vehicle you’re purchasing.

The two main types of car loans are secured and unsecured loans. A secured loan uses an eligible asset as security for the loan, while an unsecured loan does not.

Rapid Loans offers secured vehicle loans, with an eligible registered vehicle used as security for the loan. Our secured vehicle loans offer loan amounts from $5,000 to $45,000, fixed interest rates, flexible loan terms and repayment frequencies, subject to our lending criteria and approval.

If you have questions about our loan products or the application process, our team can provide further information.

If you’re thinking about buying a second-hand car privately, it’s essential to check whether another Australian financial institution already holds any security against it. Rapid Loans can find out this information for you by running a PPSR check on the vehicle you want to purchase.

As the car you are purchasing acts as security for your loan, the seller will need to repay their finance company the balance of the loan held against the car before the sale can go ahead.

There are two ways to buy a car that is under finance:

1. The seller can obtain a payout quote from their financier, repay the outstanding amount and provide proof that the final payment has been made. The seller’s financier will then release the security on the vehicle;
2. If the seller is relying on the sale of the car to repay the lender, they can provide the official payout document to Rapid Loans, and we will disburse the funds straight to their lender as part of the new car loan. If there are additional funds from the sale left over after the original loan is paid out, those will then be disbursed to the seller.

It’s worth noting that you can’t transfer a car loan to another person as all licensed lenders must comply with ASIC’s responsible lending obligations regarding the provision of consumer loans.