Loan Direct
Secured Loans
Loan Direct Specialises in
Fast Secured Loans
Typically secured loans can take a bit longer to get across the line. Loan Direct, on the other hand, moves quickly. Using the latest technology and an experienced lending team, we aim to deliver them the same day or the next.
- Borrow up to $150,000 (higher amounts available on application)
- Many loans are paid on the same day*
- 100% online, fast and easy to apply
- One application gives you rates and repayment options from many lenders
- Rates from 9.95%*
*Subject to responsible lending checks and lending criteria.
Low Cost Secured Loans
Unlock more financial possibilities with leading loan brokers. We work hard to find you a great deal.
Loan Direct works with a variety of low-cost lenders to provide our clients with more and better options.
Our competitive interest rates start at just 9.95%. Your loan rate depends on a number of factors, including your credit history, discretionary income, and loan size. Our Loan Calculators can give you an idea of what you might pay, but your actual interest rate will be tailored to you.
Loan Direct
Alternatives to Secured Loans
Unsecured personal loans
Loan Direct offers secured lending alongside our popular unsecured loans to offer flexible solutions that suit your needs. No collateral is required for these loans. Through us, they are usually available up to $75,000, but many other lenders cap this limit at $30,000. Unsecured loans may be difficult to obtain if you have a poor credit score. The amount you can borrow depends on your discretionary income, credit score, and financial history.
Why Choose Loan Direct
Loan Direct is a loan broker, meaning we put your loan application in front of multiple low-cost lenders to get you the best deal. You don’t have to run around filling out forms and liaising with lots of lenders because we do the legwork for you.
Making just one application is great for you because making too many loan applications in a brief period can negatively impact your credit score. Our application process is simple: just fill out our quick 3-minute application form with your contact details and we’ll be in touch to get some more information, such as your employment details.
Our approval process is quick and easy – we can usually get loan approval the same day* you apply, and have the cash in your account either that day or the following day. Our friendly staff provide fast, professional service every time.
We also provide bad credit personal loans, unsecured loans, and debt consolidation loans.
*Subject to responsible lending criteria.
What is a Secured Loan?
A secured loan is a type of loan that is backed by collateral, such as a vehicle, property, or other valuable asset. This collateral serves as security for the lender, providing them with a guarantee that they will recoup their money if the borrower defaults on the loan. This lowers the risk to the lender. Without the security, you might not be able to gain such a large loan.
Loan Direct
How Do Secured Loans Work?
Secured loans work by using an asset as collateral to secure the loan. When a borrower applies for a secured loan, the lender evaluates the value of the asset being offered as collateral. The lender then determines the maximum loan amount based on a percentage of the asset’s value. This is known as the loan-to-value ratio.
In the event that the borrower defaults on the loan, meaning they are unable to make the agreed-upon payments, the lender has the right to seize and sell the collateral to recover the outstanding amount. This provides the lender with a level of security and greatly reduces their risk, hence the term “secured” loan.
What are the Advantages of Secured Loans?
A secured loan can be a good alternative to an unsecured personal loan for several reasons:
Due to the reduced risk for lenders, secured loans can come with better loan terms and lower interest rates compared to unsecured personal loans. This can result in substantial savings over the life of the loan.
Since secured loans rely on collateral, lenders are more willing to offer larger loan amounts. This can be beneficial for large purchases or funding major expenses like home renovations or educational expenses. At Loan Direct, we provide secured lending of up to $150,000, compared with $75,000 for unsecured loans. We can sometimes go above this amount too.
Secured loans can be easier to obtain than unsecured loans, especially for individuals with bad credit scores or a limited credit history.
Is a Secured Loan Right for Me?
Deciding whether a secured loan is right for you depends on your individual circumstances. Here are some factors to consider:
With a secured loan, there is a risk of losing the collateral if you default on your loan repayments. If you’re confident in your ability to repay the loan and don’t mind putting your asset at risk, a secured loan can be a viable option. Loan Direct always strives to make your repayments manageable and set you up for success.
Secured loans are commonly used for significant purchases or investments, such as buying a house, car or home renovations. If you have a specific purpose in mind for the loan and need a higher borrowing limit, a secured loan may be the right choice for you. Keep in mind that because of the higher loan amounts, your loan will also likely be for a longer period of time, meaning you will also pay more interest than if you took a loan over a shorter period.
Securing a loan with collateral can increase your chances of approval if you have a poor credit score. Lenders may be more willing to lend to you when they have the added security of an asset. Bad credit loans are one of Loan Direct’s specialties – if you have poor credit history, get in touch with our friendly team today to see how we can help. We help people with bad credit rebuild their credit score by keeping their loan cost affordable so they can make payments on time.
Secured loans can also be used for consolidating many different loans, paying off bills and getting extra cash at the same time. This is a good way to reduce your repayments and make them more manageable. By spreading your repayments out over time, and consolidating lots of high-cost loans into one low-cost one, you can reduce your monthly payments.
