Secured Asset Fixed Loan (Private Sale)
Firstmac’s Fixed Secured Asset Loan offers a competitive fixed rate with set repayments, giving you certainty over the life of your loan. 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, when purchased from a private seller.
- From
- 8.64%
- 9.91% comparison
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Penalty Applicable to all fixed rates. | 1.2% | — | — |
| Penalty Applicable for vehicles up to 7yrs old at start of loan | 1.5% | — | — |
| Discount | 2% | — | — |
| Fixed · 7 years Fixed terms are available for the duration of the loan term, from a minimum of 3 years up to a maximum of 7 years · Eligible rate for brand new fully electric cars. | 8.64% | 9.91% | — |
| Fixed · 7 years Fixed terms are available for the duration of the loan term, 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. | 8.94% | 9.21% | — |
| Fixed · 7 years Fixed terms are available for the duration of the loan term, 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 |
Fees
| Fee | Type | Amount |
|---|---|---|
| Application Fee | Upfront | $599.00 |
| Fixed Rate Early Exit Fee Exit fee is waived if the loan runs to full term or is repaid within the final 12 months of the term. A $500 exit fee applies if the loan is repaid after the first two years, and a $700 exit fee applies if repaid within the first two years. | Exit | $0.00 – $700.00 |
| 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. Early repayment fees may apply.
- Balloon payments are available for fixed secured asset loan, where the asset is an eligible car. Balloon payments are not available where the asset is a caravan.
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 19 June 2026 · Product ID fmc-secured-asset-private-fixed