Need a fast, flexible, and secure loan? At Swoosh, we offer secured personal loans to help you access the funds you need, quickly and easily. Whether it’s for unexpected expenses, home improvements, or consolidating debts, our secured loans give you the flexibility to meet your financial needs with peace of mind. You can apply for a direct loan from Swoosh for up to $5,000 today!
What are secured personal loans?
A secured personal loan is a type of loan where you use an asset—like your car or another vehicle—as collateral. This collateral reduces the lender’s risk and often allows for lower interest rates compared to unsecured loans.
Personal loan secured by car
Our personal loans are secured by a car or vehicle registered in your name, allowing us to lend to a wide range of credit scores and financial circumstances. Our application process is fast, easy and 100% online.
Apply online today
How much can I borrow on a secured loan?
Swoosh offers loans from $2100-$5000. Our secured loans are paid off over 12 months with flexible, automatic repayment options that align with your payday:
- Weekly
- Fortnightly
- Monthly
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How to get a secured personal loan
Swoosh makes applying for a secured personal loan as easy as 1, 2, 3:
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Complete our online loan application in just minutes.
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We review your bad credit loan instantly.
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Electronically sign the contract and the money will be deposited directly into your bank account the same day!*
*For contracts returned at or after 4pm (NZDT), funds will be transferred overnight.
Eligibility
We are all about making things simple and easy as! As long as you meet our 4 eligibility requirements, you can apply today:
- Be at least 18 years old
- New Zealand permanent resident
- At least 3 months of regular income*
- Own a vehicle registered in your name**
*Minimum of $350 per week
**Vehicle will be used as security for the loan
Check eligibility
Rates and fees
Swoosh Finance is all about simple, easy finance. That’s why we’re upfront about our rates and fees. You know what you are dealing with before you make any decisions.
Interest is calculated daily, based on the outstanding balance, and is applied monthly to your account. Our small bad credit loans have fixed interest rates, so you know exactly how much you’ll be paying for the entire loan term.
If a scheduled payment is returned unpaid, we may issue a $40.00 debit dishonour fee. This fee is not subject to interest, though you’ll continue to pay the usual interest charges as described.
| Loan amount | $2,100 – $5,000 |
| Fees: |
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| Annual Interest | 48% |
| Term length | 12 Months |
|
Debit dishonour fee (if a scheduled payment is returned unpaid) | $40 debit dishonour fee may be issued if a scheduled payment is missed or returned unpaid |
| Repayment options | Weekly, fortnightly or monthly (based on your paydays) |
Keep in mind that you may incur additional fees each time you miss a payment. As a result, this may also affect the length of your loan.
Can I get a personal loan with bad credit?
At Swoosh, we believe everyone deserves a fair go! So long as your current circumstances meet our eligibility and lending criteria, we can help you get the funds you need!
Secured personal loan FAQs
It only takes minutes to apply for a bond loan. And as soon as we have all the required information, you should be approved and have the cash in your bank account within the hour.
Secured personal loans require collateral, such as a car or property, offering lower interest rates but risking asset loss if you default. Unsecured loans don’t need collateral, relying on your credit score instead, but usually have higher interest rates.
Generally, secured loans often have simpler approval processes because the collateral reduces the lender’s risk. However, loan approval will depend on the lender and on your individual circumstances.
Yes, a secured loan can affect your credit score. Successfully making on-time repayments can improve your credit score, while missing payments or defaulting may harm your score and may lead to the loss of your collateral.
The loan’s impact on your credit also depends on how it’s reported to credit agencies. For example, not every lender reports repayment information. Managing the loan responsibly can be key to maintaining or improving your credit score while meeting your financial needs.
