Finty
Liberty Financial

Liberty Financial Flexible car loan

SecuredVariable rate

A secured personal loan from Liberty Financial, with rates from 8.99% a year.

Written byDavid Boyd
Interest rate a year, from
8.99%
Comparison rate, from
10.65%
Establishment fee
Not published
Monthly fee
$10
Borrow
$5,000 to $100,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 8.99%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$646
Total repayments
$23,252
Interest and monthly fees
$3,252

Loan details

Rates

Interest rate (a year)
8.99%
Comparison rate (a year)
10.65%
Rate type
Variable
Security
Secured

Limits and fees

Loan amount
$5,000 to $100,000
Loan term
2 years to 7 years
Establishment fee
Not published
Monthly fee
$10

How it compares

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

Comparison rate

10.65%

From 10.65%. A typical loan starts at 7.99%.

Cost of $20,000 over 5 years

$5,504

Interest and fees at its starting rate. Typical is $4,663.

Monthly fee

$10

A typical monthly fee is $8.

Most you can borrow

$100,000

Typically you can borrow up to $130,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.99%, so the rate you see is the rate you get.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A higher starting rate. Its comparison rate starts at 10.65%, above the typical 7.99%, so it's likely to cost more than most similar loans unless you're offered less.
  • A $10 monthly fee. That adds $600 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.