Personal Loan and Asset Finance

In Australia, when it comes to financing your needs, there are two great options to explore: personal loans and asset finance.

These options cater to different needs and understanding their differences can help you make the right choice.

What’s a personal loan? Think of a personal loan as a flexible financial tool that you can use for various things like paying off debts, handling unexpected expenses, or even giving your home a makeover. This open is also great for anyone looking to purchase an older age Vehicles as they may not fit the lenders criteria for asset finance, You don’t need to provide any collateral, making it an excellent option for those with a limited credit history or assets.

What’s asset finance? Now, asset finance is a bit different. It’s a secured loan that’s perfect for purchasing specific items like vehicles, equipment, or machinery. These loans are backed by the asset itself, so if there’s trouble repaying, the lender can claim the asset. It’s a good fit for those with a strong credit history and valuable assets, this can also support individuals with lower credit history and with our panel of lenders we can find the best option for your circumstance.

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Full Online Process

It happens all online, from requesting a quote to accepting a deal and getting the asset paid.

Expert Support

Our team of finance ninjas are here to help you with any problems or questions you may have.

Personalised Rates

Interest rates are calculated on your personal circumstances so that they meet your needs with the right loan.

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Personal Loans vs. Asset Finance

Advantages of personal loans

  • Flexibility: You can use personal loans for almost anything you need.
  • No Collateral: Great for those without assets to put up.
  • Quick Approval: They’re often approved swiftly, even if your credit isn’t perfect.

Advantages of asset finance

  • Lower Interest Rates: Usually, these loans come with lower interest rates compared to personal loans.
  • Budget-friendly: You can spread the cost of pricey items over a longer time.
  • Accessibility – With more option that cater to each individual’s circumstance and with our Strong panel of lenders we are more likely able to support your needs.

Choosing between them

The best way to decide? Consider what you really need. If you want flexible financing without needing collateral for various purposes, a personal loan might be your pick. If you’re eyeing a specific item and have a strong credit history, asset finance could be your answer.

Not sure which suits you better? Get in touch! Our team of experts is here to help you find the perfect fit for your financial needs.


Yes, there are many reasons why you might decide to refinance a loan.

Refinancing a loan means that you replace an existing loan with a new agreement so that the old loan is paid out, and you start a new loan contract, possibly with a lower interest rate, lower repayment and/or a new term.

Refinancing a loan can help you get a better rate and lower repayment if your circumstances have changed, and your credit score has significantly improved, or available interest rates have dropped. It is important to note that refinancing won’t be available if you’re behind on your repayments, owe more than your vehicle is worth, or if your vehicle is too old.

There are many scenarios where it may be of benefit to refinance an existing loan.

Your credit score has improved.
Since you signed up for your car loan, your credit score improved, so you may qualify for a lower interest rate, meaning you can pay less every month and save money.

The interest rate dropped.
If the market offers lower interest rates than when you signed for your original loan, you may be able to save money by refinancing.

You did not compare different car loan options.
When you took out your current loan, you did not use a broker to search the market to compare several lenders offers that were available to you. Perhaps you took your loan out with your bank or car dealer that have only their own products to offer, whereas a broker such as CarMoney has access to over 30 lenders, many of whom could have more competitive offers for you.

Your current repayments prevent you from saving or from making other purchases.
Refinancing a loan can ease financial stress with lower repayments. However, it is important to look at the structure of your refinance proposal to ensure that it meets your short-term and long-term financial goals.

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