Secured against the car,so it costs less than an unsecured loan
The vehicle is the security, so the lender is carrying less risk and the rate sits below an unsecured personal loan for the same amount.
Used car loans, Perth Based - Australia wide
Used car loans for the second-hand car you actually want.One application, the whole panel, and an honest answer before you commit.
One used car loan application reaches our full lender panel. Your broker compares what each lender will do for your vehicle and your situation, then puts the real numbers in front of you before you commit to anything.
Get Your Personalised Rate
Getting your rate here will not affect your credit scoreYes Loans is a licensed finance broker. ACL 392426. Approvals are subject to lender credit criteria.
The basics, quickly
What is a used car loan?
A used car loan is a secured loan used to buy a second-hand vehicle. The car acts as security for the lender, which is why used car finance is usually cheaper than an unsecured personal loan for the same amount. You borrow a fixed sum, repay it over an agreed term, and the lender's interest in the vehicle is released when the loan is paid out.
Second hand car finance works the same way whether you buy from a dealership, a private seller or an auction. What changes between lenders is the vehicle they will accept, the rate they will price it at, and how quickly they can settle. That is the part a broker handles for you, across all of our car loans.
One to seven years
A shorter term costs less in interest and more each month. It is the input that moves your repayment furthest, so it is the one worth testing first.
The lender prices it,not us
Your credit profile and the car decide where on the panel you land, and you see the rate in writing before you agree to anything.
Buy it anywhere,from a dealership, a private seller or an auction
The paperwork changes with where you buy, not the loan. Your broker settles all three, and checks the car is free of finance owing before funds move.
Reviewed on Google
What our customers say
Yes Loans263 Albany Hwy, Victoria Park
A big thank you to Cooper from Yes Loans for helping me secure my loan for my new car! He was easy to communicate with, always kept me updated, and made ... Morein the last week
Thanks to Stephen, for assisting with my loan and making it possible, he dealt with it professionally and was very quick to reply with any questions and ... Morein the last week
I cannot recommend Trent highly enough. From the very beginning, he was professional, efficient and incredibly committed to helping me secure the right ... Morein the last week
powered by Google
Perth based, every one of them
The brokers who will argue your case
We do not lend. A broker advocates for your application, which is the part you cannot do for yourself when you walk into a lender on your own. Every rating below is that broker's own Google rating as published on the Yes Loans about page.
Goran BabacGeneral Manager5.0 on Google, 22 reviews
Trent HilliamFinance Broker5.0 on Google, 18 reviews
Ridge KiddFinance Broker5.0 on Google, 18 reviews
Cooper BoydFinance Broker5.0 on Google, 4 reviews
Stephen PastorelliFinance Broker5.0 on Google, 2 reviews
Aidan DaggettFinance Broker5.0 on Google, 1 review
Paddy KnightBusiness Development Manager5.0 on Google, 1 review
Kim MarchantFinance Broker5.0 on Google, 1 review
Before you talk to anyone
See what a used car repayment looks like
Move the sliders, set the rate you want to test, and the panel updates. We are a broker, so the rate is yours to nominate rather than ours to quote. It is an estimate, not an offer.
We are a broker, so we do not set this. Lenders do, per file. Move it to whatever you want to test and your broker will come back with the rate a lender will actually write.
Credit profileThe widest part of the panel is open to you, and a secured car is the security lenders compete hardest for. Try the lower end of the rate slider.
Your estimate
$517per month over 5 years
Weekly$119
Amount financed$25,200
Total interest$5,821
Total repaid$31,021
A shorter term costs less in interest and more each month. Your broker will tell you which combination a lender will actually approve.
Check this against real lender offersEstimate only. Excludes lender and broker fees, government charges and insurance. Not an offer of finance.Our lender panelThe lenders your one application reaches
The question that stops most applications
Will a lender finance a car this old?
Most lenders judge the car by its age at the end of the loan, not the day you buy it. Pick the age of the car you are looking at.
0 to 4 years - broadest lender appetite
5 to 8 years - most of the panel, sharper pricing questions
9 years and older - specialist lenders only
Most of the panel6 years old at purchase
Well inside policy for most lenders, with pricing questions attached.At this age lenders start caring about kilometres, service history and how much the car will be worth at the end of the term. The panel is still wide.
Keeping the term shorter here often unlocks a better rate than adding deposit.
Age at the end of the term is what countsA car that is 6 years old today will be 11 years old at the end of a 5 years loan. That single number decides which lenders can look at it.
Also on the lender checklist
Kilometres travelledHigh readings tighten the panel faster than age alone.
Make and modelSome lenders exclude imports, kit cars and heavily modified vehicles.
Roadworthy and titleThe car has to be registrable and free of finance owing before settlement.
Not sure the car you are looking at will pass?
Send us the details and a broker will tell you which lenders can finance it, before you apply anywhere. Apply online or call and we will check it with you.
Dealer, private seller or auction
Where you buy changes the paperwork, not the rate
Plenty of brokers only handle dealer deals. Private sales and auctions need the money to move differently, so here is exactly what happens in each case.
Buying privately
The best prices are usually private, and this is where a broker earns their keep. We verify the seller owns the car outright, then pay them on your behalf.
What we needRego papers, seller details and a signed sale agreement
How funds moveLender pays the seller after the vehicle checks clear
Watch forExisting finance owing against the car, which we check for you
Never hand over a deposit before the encumbrance check comes back clear.Start with a quote
Honest comparison
Used car loan or new car loan?
Both are secured against the vehicle. The differences show up in price, depreciation and how much room a lender gives you.
New car loan
Typical rateThe sharpest end of the panel, the security is easy to value
Vehicle age testNot applicable
DepreciationSteepest in the first three years, and you carry it
Deposit pressureHigher purchase price means a bigger loan for the same car
Best forBuyers who want a warranty and will keep the car long term
Used car loanMore car for your money
Typical rateA little above a new car, and profile dependent either way
Vehicle age testApplies, usually measured at the end of the loan term
DepreciationThe first owner already absorbed the worst of it
Deposit pressureA smaller loan for the same model and trim
Best forBuyers who want the most car per dollar borrowed
Still weighing up new against used? Your broker will price both across the panel so you are comparing real numbers, not sticker prices. Our car loan options page sets out what else is available.
Application to keys
What the next few days look like
Straightforward applications move fast. Older vehicles and self-employed income take a little longer, and your broker will tell you which one you are.
Day 0Apply online
Your details, the amount you need, and the vehicle if you have found one. Two minutes, no credit check yet.
Day 0 to 1A broker reads it
A real person matches your profile and the car against the lenders most likely to say yes.
Within 24 hoursOptions on the table
Rates, fees and repayments side by side, in writing, before anything is submitted for a formal decision.
Day 2 to 3Approved and settled
We handle the lender paperwork and pay the seller directly, whether that is a dealership, a person or an auction house.
Not sure which car yet?
Get pre-approved first and shop with a number in your pocket. Our car loan calculator is a useful companion once you have an amount in mind.
One application, a full panelGet a free quote today
Why use a broker for used car finance?
Going direct to a single bank or lender means you see one rate, one set of terms, and one approval decision. If that lender says no, or prices your used car loan badly because of its age, you start again somewhere else and wear another credit enquiry.
Yes Loans works the other way around. One application reaches our full lender panel, and your broker compares what each lender will offer for your specific vehicle and situation before anything is submitted for a formal decision.
One credit enquiry, not fiveShopping lender by lender leaves a trail on your file that makes the next application harder.
Lenders that suit second-hand carsWe know which lenders on the panel are relaxed about vehicle age, kilometres and private sales.
No cost to compareYou see rates, fees and repayments in writing before you commit to anything.
3 Steps for Fast Finance
Apply online in minutes
We match you to the right lender
Get your finance fast
What moves your rate
What affects your used car loan rate?
Used car loan rates in Australia vary considerably, and nobody quotes one off a single number. These four inputs, weighted roughly like this, decide where in the range you land.
Credit profile
Repayment history carries the most weight. Defaults do not end the conversation, they narrow the panel.
Vehicle age
Older cars are harder for a lender to recover value from, so pricing rises with age.
Deposit
Money upfront lowers the loan to value ratio, which is the number lenders actually watch.
Loan term
Longer terms ease the monthly figure and add interest overall. Balance is the point.
These four inputs decide where in the range you land. We are a broker, so we do not set the number, but one application tells you exactly where you sit, in writing, with no credit enquiry to get the options.
Pre-approval before you bid
Auctions and private sellers do not wait while finance gets sorted. Pre-approval gives you a real ceiling and a settlement process ready to go, so you can commit on the day. Valid for a set period and free to arrange.
Straight answers
Used car loan questions
Still stuck on something? Call (08) 9472 3000 and ask a broker directly.
Get a free quoteCan I get a used car loan for any second-hand vehicle?
Most lenders set an upper age limit, commonly requiring the car to be under about 12 years old at the end of the loan term. Some lenders on our panel are more flexible on older vehicles, and your broker will point you at those first.
What rates apply to used car finance right now?
That depends on your credit profile, the age of the vehicle and which lender writes the loan. We are a broker, so we do not set the rate and will not quote one before we have read your file. One application reaches the whole panel, and you see the actual rate in writing before you agree to anything.
Is a used car loan secured or unsecured?
Most are secured, with the vehicle as collateral, which usually means a lower rate than an unsecured personal loan. If the car is older or fails a security test, an unsecured loan may still be the practical route.
Can I get approved with bad credit?
In many cases yes. Several lenders on our panel work with borrowers who have defaults or a thin credit file. Approval depends on your current income and overall position, not only on what happened three years ago. Our bad credit car loans page covers what changes when your file is not clean.
How quickly can approval come through?
Conditional approval on a straightforward application can land within 24 hours on business days. Older vehicles, self-employed income or missing documents will add time, and your broker will tell you upfront which applies.
Can I buy from a private seller or an auction?
Yes. Used car loans through Yes Loans are not limited to dealership purchases. We settle private sales and auction purchases regularly, and we confirm the vehicle checks out before funds are released.
Does applying hurt my credit score?
Getting a quote and reviewing your options does not require a credit enquiry. One application through us reaches the whole panel, so you avoid the multiple enquiries that come from applying to lenders one by one.
Victoria Park, Western Australia
Every used car loan on this page is arranged by the same eight people in one Perth office.
- 4.8
- from 281 reviews on Google
- 8
- brokers, every one of them in Perth
- 2009
- trading from Victoria Park since
- 9
- lenders your one application reaches
Used car finance, Australia wide
Apply for a used car loan today
Yes Loans is a Perth based finance broker with a specialist panel covering new and used vehicles across Australia. We work harder to say yes more often.
Send the form, or call and speak to a broker who will tell you where you stand before you spend a weekend at the yards.