Verified Lending Used Car Loan
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- Interest Rate (p.a.)
- 6.9% (fixed)
- Max Loan Amount
- $150,000
Summary
A competitive 6.90% p.a. fixed rate car loan with no monthly fees.Verified Lending's Used Car Loan scores in the top 11% of products in Finder's database. This is driven by its competitive 6.90% p.a. interest rate and lack of any ongoing monthly fees.
This loan may suit a borrower looking for a straightforward loan with minimal fees and a competitive fixed rate.
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
-
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?
- High-scoring product. This loan's features and costs place it in the top 11% of car loans in our database.
- Competitive interest rate. Its minimum interest rate of 6.90% p.a. is in the top half of the market for lower rates.
- No ongoing fees. This is a standout feature as many competing loans charge a monthly fee.
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
Here are the main points to consider when looking at Verified Lending's fixed rate used car loans:
- 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.
- Flexible repayment terms. You can make weekly, fortnightly or monthly loan repayments.
- 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
Sources
Your reviews
Richard Finder
Senior Money Editor
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