Cash First Bad Credit Secured Car Loan Review and Fees | finder.com

Cashfirst Secured Car Loan

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You can still get financing for a car even when your credit is less-than-perfect. Find out if you’re eligible for a Cashfirst Secured Car Loan.

Important Information

A car is a necessity to many people, whether it be for work, for your family, or just to get from A to B. Having bad credit or being on a lower income can make it hard to be approved for a car loan from banks and other mainstream lenders. If you’re in this position, Cashfirst is a lender to consider.

You can apply for a loan up to $25,000 if your credit history is less than perfect and have up to 5 years to repay it. You can also use this loan if you already own a car and are willing to use it as a guarantee. Find out more about Cashfirst’s Secured Car Loan in our review below.

$150 ($3.40 PPSR Fee)

Application Fee

From 15.95% (variable)

Interest Rate (p.a.)

17.04%

Comparison Rate (p.a.)

$25,000

Max Loan Amount

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Details

Product NameCashfirst Secured Personal Loan
Interest Rate (p.a.)From 15.95% (variable)
Comparison Rate (p.a.)17.04%
Interest Rate TypeVariable
Min Loan Amount$5,000
Max Loan Amount$25,000

How does the Cashfirst Secured Car Loan work?

Cashfirst offers flexible eligibility criteria with this loan. You don't need perfect credit history; you only need to meet minimum income, age and residency requirements and demonstrate the ability to repay the loan. If you apply and are approved, you can have the money in your account within 24 hours.

You will be offered terms up to 5 years and be able to make repayments weekly, fortnightly or monthly as per your budget. The first payment is due one month after your loan is settled. You're able to make additional repayments and pay off your loan ahead of schedule by getting in contact with Cashfirst.

What features can I expect from a Cashfirst loan?

When you take out a secured loan with Cashfirst, the following features are on offer:

  • Easy application. Applying online is quick and you can speed up your application by uploading 90 days of your bank statements.
  • Loan amount and terms. You can borrow between $5,000 and $25,000 with this loan. Repayment terms are available up to 60 months.
  • Receive your money quickly. After your loan is settled and your contract signed, you will receive your loan within 24 hours. This will help you get into your new car sooner.
  • Top up your loan. If you've had your loan for six months you can apply to top up your loan. Your eligibility depends on your situation and how regularly you've made payments into your account.
  • Flexible repayments. Make your first repayment one month after the loan is settled. After this you can choose to make weekly, fortnightly or monthly repayments and you can get in contact with Cashfirst to change the repayment frequency during your loan term.
  • Pay off your loan sooner. Make additional repayments to help pay off your loan sooner.
  • Easy repayments. You can have your repayments direct debited out of your account on the due date. This reduces the chance of late payments – you just need to make sure there's sufficient funds in the account when the debit is scheduled.

Are you eligible for a Cashfirst Secured Loan?

These are the basic eligibility requirements:

  • You're currently employed
  • You're an Australian resident
  • You earn more than $20,000 p.a. into a bank account
  • You're looking to purchase a car or own an existing vehicle less than seven years old
  • You are not currently bankrupt or under a Part 9 Debt Agreement

Ready to apply? Here's how to get started

Click "Go to Site" if you meet the eligibility criteria outlined above and are ready to apply for a loan. You'll need the following details on hand to complete your application:

  • Proof of your identity. You'll need your driver's licence or passport as well as a Medicare card or proof of age card.
  • Proof of your income. This can be 90 days of your current bank statements, your last two payslips or your latest notice of assessment if you are self-employed.

Cashfirst gives you a way to finance a new car purchase even with bad credit, or to apply for a loan if you've got a car to use as security. Comparing this loan with similar offerings before you apply will help ensure you're applying for the right loan to meet your needs.

Compare car loan providers

Data updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Loans.com.au - New and Dealer Used Car Loan
From 4.67% (fixed)
5.22%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.67% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Settle the loan before 30 November 2021 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
Plenti Car Loan
From 4.89% (fixed)
5.44%
$2,000
3 to 7 years
from $249 to $799
$0
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
IMB New Car Loan
4.99% (fixed)
5.34%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPS registration fee)
$0
You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
NRMA New Car Loan
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
NOW Finance Secured Personal Loan
From 4.45% (fixed)
4.45%
$15,000
18 months to 7 years
$0
$0
You'll receive an interest rate from 4.45% p.a. to 15.45% p.a.
Borrow up to $100,000 for terms between 18 months and 7 years. You can use this loan to buy a car, motorbike, boat, motorhome or caravan.
Wisr Secured Car Loan
From 5.19% (fixed)
5.46%
$5,000
3 to 7 years
$195 (Includes PPSR registration and private sale fee, if applicable)
$0
You'll receive a personalised interest rate from 5.19% p.a. to 17.69% p.a. based on your risk profile
A flexible car loan from $5,000 - $50,000 with personalised rates and rewards for strong credit customers.

OurMoneyMarket Car Loan
From 5.5% (fixed)
5.85%
$2,001
1 to 7 years
$250
$0
You'll receive a fixed interest rate from 5.5% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 10 years.
MoneyForJam Car Loan
From 3.25% (fixed)
5.82%
$5,000
1 to 7 years
From $1 to $990
$25
You'll receive a fixed rate from 3.25% p.a. based on your risk profile
Borrow between $5,000 and $120,000 with loan terms up to 7 years to finance a new or used car. Get access to more than 40 providers.
RACV New Car Loans
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
CUA Secured Fixed Car Loan
6.79% (fixed)
7.16%
$5,000
1 to 7 years
$265 ($175 Establishment Fee + $90 Security Administration Fee)
$0
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
Latitude Personal Loan (Secured)
From 5.99% (fixed)
7.26%
$3,000
1 to 7 years
Loans under $5000 - $140
$13
You'll receive a fixed rate between 5.99% p.a. and 21.99% p.a. based on your risk profile
Lock in a competitive fixed rate when you offer security. Loan can be used for any purpose and repayments are flexible. You can check your interest rate before applying with no impact to your credit score.
NAB Personal Loan Unsecured Fixed
From 9.99% (fixed)
10.88%
$5,000
1 to 7 years
waived
$10
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
SocietyOne Car Loan
From 6.99% (fixed)
6.99%
$5,000
2 to 5 years
from 0% to 5% of the total loan amount
$0
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
NRMA Used Car Loan
From 6.49% (fixed)
7.19%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.49% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
Credit Concierge Car Loan
From 3.85% (fixed)
4.91%
$10,000
1 to 7 years
$350
$8.50
You'll receive a fixed rate of 3.85% p.a. with a comparison rate of 4.91% p.a.
Get access to over 20 providers to fund a new or used car.

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Compare up to 4 providers

Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

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2 Comments

    Default Gravatar
    Richard
    January 21, 2016

    I am an international Student with a visa of over three years currently, which lender could give me a car loan of 5,000 dollars?

      Avatarfinder Customer Care
      Elizabeth
      January 22, 2016

      Hi Richard,

      You may be eligible a personal loan to buy your car. You can find lenders who consider temporary residents for personal loans but noted that you must meet certain requirements to be eligible such as a higher income requirement, the type of visa you are holding, and the term of your loan cannot exceed the time left on your visa.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

      I hope this will help.

      Thanks,
      Elizabeth

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