Take advantage of lower interest rates and better repayment options by using your new car as security for your loan. By taking security over your vehicle, the finance company reduces their risk so they can offer you more competitive terms on your finance. It means there’s a chance your car could be repossessed if you miss repayments, but you’ll own the car outright once your loan is repaid.
Benefits of a secured car loan include:
✔ Fixed interest rates and repayment terms
✔ Smaller monthly repayments using balloon or residual options
✔ Tailored repayment plans
✔ Flexible contract terms