Secured Asset Variable Loan (Dealer)
Firstmac’s Variable Secured Asset Loan offers a competitive variable rate with flexible repayments to suit your needs. Choose a term from 3 to 7 years, with finance available for new or used cars up to 12 years old, or new and used caravans up to 7 years old; purchased from a dealer. Enjoy the convenience of a redraw facility (up to $5,000 per day), as well as no fees for paying out the loan early.
- From
- 8.69%
- 9.96% comparison
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Penalty | 1.2% | — | — |
| Penalty | 1.5% | — | — |
| Variable Loan terms available from a minimum of 3 years up to a maximum of 7 years. · Eligible rate for brand new fully electric cars. | 8.69% | 9.96% | — |
| Variable Loan terms available from a minimum of 3 years up to a maximum of 7 years. · Eligible rate for new or demo cars or caravans no older than 18 months and less than 7,500kms. | 8.84% | 10.11% | — |
| Variable Loan terms available from a minimum of 3 years up to a maximum of 7 years. · Eligible rate for used cars or caravans no older than 3 years | 9.34% | 10.61% | — |
| Variable Loan terms available from a minimum of 3 years up to a maximum of 7 years. · Eligible rate for used cars or caravans no older than 5 years | 9.49% |
Fees
| Fee | Type | Amount |
|---|---|---|
| Application Fee | Upfront | $499.00 |
| Monthly Fee Charged monthly · A fee charged monthly on the anniversary of the loan settlement. | Ongoing | $8.00 |
Features
- Extra repayments
- Allows borrowers to make additional repayments on the loan to reduce interest and pay off the loan faster.
- Redraw facility
- Enables access to any extra repayments made, allowing funds to be withdrawn if needed. Redraw is limited to a maximum of $5,000 per day.
Eligibility
- Minimum age — 18 yearsApplicants must be at least 18 years old to apply for this loan.
- Residency status — Are Australian or New Zealand citizens living and working in either Australia or New Zealand, or are Permanent Residents of Australia living and working in Australia.
- Where the asset being used to secure the loan is a caravan, the borrower/s must be a home owner.
Constraints
- The loan term must be at least 3 years. — P3Y
- Minimum limit — $10,000.00The minimum loan amount available under this product is $10,000.
- Maximum limit — $150,000.00The maximum loan amount available for this product is $150,000. The maximum loan amount for vehicles over 7 years old is $50,000.
- The loan term cannot exceed 7 years. The maximum loan term for vehicles over 7 years old is 5 years. — P7Y
Published by Firstmac under the Consumer Data Right · Last updated 12 June 2026 · Product ID fmc-secured-asset-dealer-variable