Finty
Resimac Asset Finance

Resimac Asset Finance Personal Fixed Rate Auto Loan

SecuredFixed rate

A secured personal loan from Resimac Asset Finance, with rates from 7.54% a year.

Written byDavid Boyd
Interest rate a year, from
7.54%
Comparison rate, from
8.59%
Establishment fee
$495
Monthly fee
$5
Borrow
$6,000 to $210,000

Monthly repayment

$20,000 over 1 months

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What it would cost

At the lowest published rate of 7.54%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$20,131
Total repayments
$20,131
Interest and monthly fees
$131

Loan details

Rates

Interest rate (a year)
7.54%
Comparison rate (a year)
8.59%
Rate type
Fixed
Security
Secured

Limits and fees

Loan amount
$6,000 to $210,000
Loan term
Up to 1 months
Establishment fee
$495
Monthly fee
$5

How it compares

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

Comparison rate

8.59%

From 8.59%. A typical loan starts at 7.99%.

Setup fee

$495

A typical setup fee is $258.

Monthly fee

$5

A typical monthly fee is $8.

Most you can borrow

$210,000

Typically you can borrow up to $130,000.

Longest term

1 months

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 7.54%, so the rate you see is the rate you get.
  • Room to borrow more. Up to $210,000, more than the typical $130,000, which can cover bigger costs in one loan.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.

Cons

  • A $5 monthly fee. That adds $297 over 5 years, as well as the interest.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.

Similar loans

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