Finty
Liberty Financial

Liberty Financial Fresh start car loan

SecuredVariable rate

A secured personal loan from Liberty Financial, with rates from 12.49% a year.

Written byDavid Boyd
Interest rate a year, from
12.49%
Comparison rate, from
15.06%
Establishment fee
Not published
Monthly fee
$10
Borrow
$5,000 to $50,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 12.49%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$679
Total repayments
$24,443
Interest and monthly fees
$4,443

Loan details

Rates

Interest rate (a year)
12.49%
Comparison rate (a year)
15.06%
Rate type
Variable
Security
Secured

Limits and fees

Loan amount
$5,000 to $50,000
Loan term
2 years to 5 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

15.06%

From 15.06%. A typical loan starts at 7.99%.

Cost of $20,000 over 5 years

$7,591

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

Monthly fee

$10

A typical monthly fee is $8.

Most you can borrow

$50,000

Typically you can borrow up to $130,000.

Longest term

5 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 12.49%, 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 15.06%, 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 lower limit. Up to $50,000, less than the typical $130,000, so it may not cover a larger purchase.
  • 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.