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.
How much can I borrow on a secured loan?
Swoosh offers loans from $2000-$5000. Our secured loans are paid off over 12 months with flexible, automatic repayment options that align with your payday:Weekly
Fortnightly
Monthly
How to get a secured personal loan
Swoosh makes applying for a secured personal loan as easy as 1, 2, 3:
- Fill out our fast, easy online application
- We’ll review your application instantly
- 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:At least 18 years old
New Zealand permanent resident
Employed for at least 3 months*
Own a vehicle registered in your name**
*Earning a minimum of $400/week
**Vehicle will be used as security for the 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
At Swoosh, we offer a fast, easy application process that only takes minutes to apply, so you could have the funds in your account today!* Once a contract is signed electronically, we’ll deposit the funds directly into your bank account.
*Speed of approval is conditional on receipt of all requested relevant documents/information.
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.