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In need of a new car? With a used car loan from Rapid Loans, you could be smelling that new car smell in no time.


Used Car Loans

Are you on the search to find a perfect ‘new to you’ car? Whether that’s through a private seller, on a website or from a dealership – when you think used car loans, think Rapid Loans. Loan amounts range from $5,000 – $40,000 and, provided your car loan application ticks all the boxes, you could be driving away within 24 hours. Haven’t picked a car yet? Rapid Loans offers a two-week conditional pre-approval so you can shop for your car with confidence. With a simple online application and personalised customer service, Rapid Loans is the easy choice for used car loans.

As a secured lender, Rapid Loans uses the car you’re purchasing as the security for your used car loan. This is usual practice for car finance. Once you’ve completed our easy application process, one of our friendly team will be in touch to talk you through the next steps.

There are few times that are more exciting in life than when you get to shop for a car. With vehicle prices growing every year, buying a used car often makes sense in today’s world. However, obtaining car finance can sometimes be more challenging when buying a used car.

The good news is that Rapid Loans makes it easy to get behind the wheel of a used vehicle. Whether you are buying an essentially new vehicle that barely meets the definition of “used” or are looking for a highly affordable car, Rapid Loans has a solution for you. Best of all, Rapid Loans may approve your car loan on the same day once you have completed the simple online loan application. Read on to learn more about how Rapid Loans can help you with your next used car loan.

Rapid Loans gives you plenty of time to choose a new vehicle after your used car loan application has been pre-approved. You may receive two full weeks to select a vehicle after receiving confirmation of pre-approval. With extra time to make your selection, you can make a better decision so that you can get a car that you can keep for an extended period of time.

Having enough time to pick a vehicle is important since you will usually need to take vehicles on test drives and talk to many different car brands. Instead of using up several annual leave days to compare vehicles, you can take your time visiting car dealerships on weekends and in the evenings when you take out a car loan with us at Rapid Loans.

When you have plenty of time to shop, you can also expect to get a better price on your next vehicle. Finding a deal requires shopping around, and you can do so when you have the backing of Rapid Loans. Shopping around is especially important when buying a used vehicle due to the broad range of cars that you can choose from.

why choose rapid

Accessible Loans

We’re committed to providing accessible, stress-free loans to our customers. With over a decade in the car loan industry, we know the ins and outs to provide you with an experience that leaves you feeling informed and taken care of.

Individual Loan Assessment

We take the time to assess your individual situation, and our car loans consultants are available to you every step of the way.

Easy, Quick & Online

With a used car loan from Rapid Loans, you can easily apply online from the comfort of your office, living room or while inspecting your dream car. Our online application form is quick and easy to complete.

How it works

Apply Online

Complete our easy online application form. Don’t worry, we only need the important stuff to get you moving.

Upload Documents

Upload your important docs via our secure online platform. We’ll tell you what you need, and it only takes a few minutes.

We’ll Get In Touch

Your application will be reviewed and one of our friendly loan consultants will be in touch soon!

Receive Funds

If approved, have your funds faster than you can say Rapid Loans! If you applied in the morning, they could hit your account the very same day.


Frequent Questions

Find the answers you are looking for by browsing through a number of questions we get asked a lot.

How do I buy a car that is under finance?

When you are buying a second-hand car privately, it is essential to check whether a finance institution holds any security against it. We can find out this information 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 original finance company before the sale can go ahead. There are two ways to do this.

The first is that 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 second way is that if they are relying on the sale of the car to repay the financier, then they can provide the official payout document to Rapid Loans and we will disburse funds straight to their financier as part of the new car loan. If there are additional funds from the sale leftover after the original loan is paid out, those will then be disbursed to the seller.

What is a p.a. comparison rate?

The comparison rate gives you a true understanding of the cost of the loan per year. In addition to interest rate charged, it adds the cost of fees and charges, repayment frequency, loan term and loan amount.

What loan terms do you offer?

Our loan terms vary from 18 to 60 months with loans ranging from $2,001 up to $40,000. This will depend on the product, loan amount and other factors.

What is a balloon payment?

A balloon payment is a significant extra payment made on your loan that is greater than your normal repayment. A balloon payment can be made at any time of the loan term and will reduce the loan term and interest charges for that loan. We do not require balloon payments at Rapid Loans, however the option is available to you to make extra repayments without incurring any fees.

What does pre-approval mean?

Applicants are able to apply for pre-approval for finance before making an offer for a car. Pre-approval means that the applicant has already gone through the application process and has been found that they satisfy the criteria to get a loan of a specific loan amount. This gives the applicant to the reassurance that they can afford a car within a specific budget. When the applicant has found a car to purchase, the loan application can be finalised with any conditions being met to receive final approval, contracts signed and funds disbursed.

Do you offer fixed interest rates?

Yes, personal and car loans from Rapid Loans have a fixed interest rate outlined in your contract. This will vary depending on a number of factors such as borrower profile, loan product and principal amount.

Do you charge early repayment fees?

No, Rapid Loans does not charge any fees for early payouts or additional repayments on top of the normal repayment schedule.