Finty
Autopay

Autopay Asset Finance (Direct)

SecuredVariable rate

Secured variable-rate car loan from $10,000 to $100,000 over 3 to 7 years, applied for directly with Autopay. Rates are personalised to your Equifax OneScore credit band and also vary by factors including vehicle age, loan-to-value ratio and residential status. Balloon payment options available.

Written byDavid Boyd
Interest rate a year, from
6.24%
Comparison rate, from
7.13%
Establishment fee
$495
Monthly fee
$13
Borrow
$10,000 to $100,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 6.24%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$623
Total repayments
$22,432
Interest and monthly fees
$2,432

Loan details

Rates

Interest rate (a year)
6.24%–26.35%
Comparison rate (a year)
7.13%–27.88%
Rate type
Variable
Security
Secured

Limits and fees

Loan amount
$10,000 to $100,000
Loan term
3 years to 7 years
Establishment fee
$495
Monthly fee
$13

How it compares

Against the other secured personal loans we compare. Typical means the middle half of them.

Comparison rate

7.13%

From 7.13%. A typical loan starts at 8.63%.

Cost of $20,000 over 5 years

$4,579

Interest and fees at its starting rate. Typical is $4,624.

Setup fee

$495

A typical setup fee is $250.

Monthly fee

$13

A typical monthly fee is $8.

Most you can borrow

$100,000

Typically you can borrow up to $100,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • A lower starting rate. Its comparison rate starts at 7.13%, below the typical 8.63%, and the comparison rate counts the standard fees too, so it's a fair guide to a lower overall cost.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 6.24% to 26.35%, and only some people get the starting rate.
  • A higher setup fee. $495, above the typical $250. It's usually added to the loan, so you pay interest on it too.
  • A $13 monthly fee. That adds $750 over 5 years, as well as the interest.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.

Similar loans

Secured loans from other lenders that start at a similar comparison rate.