Verified Lending Used Car Loan
- Interest Rate (p.a.)
- 6.9% (fixed)
- Max Loan Amount
- $150,000
Summary
Get a competitive 6.90% interest rate with no ongoing monthly fees with this used car loan.With a Finder Score of 9.1, the Verified Lending Used Car Loan is in the top 15% of products in our database. Its high score is driven by a competitive interest rate and no ongoing monthly fees.
This makes it a strong contender for borrowers looking for a high-value used car loan without the burden of extra monthly costs.
Pros
-
Competitive rates for borrowers with Excellent credit scores.
-
Options for secured and unsecured loans.
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Borrow up to $150,000 .
Cons
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There is a application fee.
Details
Verified Lending Used Car Loan
| Product Name | Verified Lending Used Car Loan |
| Interest Rate (p.a.) | 6.9% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $10,000 |
| Max Loan Amount | $150,000 |
How does Verified Lending Used Car Loan compare?
- A top-tier option. With a Finder Score of 9.1, this product is in the top 15% of car loans in our database.
- Competitive interest rate. Its 6.90% interest rate is in the top half of lower rates in our database.
- No ongoing fees. This loan has no ongoing monthly account fees which adds to its value compared to other products on the market.
How does the Verified Lending Used Car Loan work?
Interest rates range from 6.9% p.a. (comparison rate ) to (comparison rate ). The rate you can get depends on your credit score and personal financial circumstances.
Borrowers looking for a fixed rate loan to purchase a used car can pick from both secured and unsecured options.
Features of this loan
Verified Lending is a finance broker, not a lender. It compares used car loans from its panel of lenders and arranges the loan with the lender you're matched with, so the rate, fees and terms you get are set by that lender. Here are the main points to consider when looking at a used car loan arranged through Verified Lending:
- Fixed interest rate. Your rate is fixed. It won't change throughout the life of the loan.
- Personalised rates. The rate you qualify for depends on the car you're buying, your financial situation and your credit score.
- Loan terms. Loan terms range from 1 to 7 years.
- Loan amount. With Verified Lending you can borrow as little as $10,000 or as much as $150,000.
- Secured and unsecured options. This loan has secured and unsecured options.
- Repayment frequency. Whether you can repay weekly, fortnightly or monthly depends on the lender you're matched with.
- Car type. You need to be purchasing a used vehicle.
How much does the Verified Lending Used Car Loan cost?
Here are the main fees and charges you should know about:
- Interest rate: 6.9% p.a. to .
- Comparison rate: to .
- Application fee: .
- Monthly service fee: There is no monthly fee.
How to apply
To apply for this loan you will need:
- To be 18 or over
- To be an Australian citizen or permanent resident
- To hold an Australian driver's licence
- To earn at least $2,000 a month
Verified Lending does accept Centrelink payments as a form of income.
Documents
When applying for a loan you will need:
- Proof of identity
- Proof of income
- Details of assets and liabilities
Your reviews
Richard Finder
Senior Money Editor
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