A secured loan uses an asset as security, which typically means larger loan amounts and lower interest rates. Apply once with Lending Room and we match you to the right lender from our panel. Rates from 8.99% p.a. with no impact on your credit score from our check.
Understanding the difference helps you choose the right option for your situation.
You provide an asset such as a vehicle, boat or other property as security against the loan. Because the lender has something to secure the debt against, they can typically offer larger loan amounts and lower interest rates.
No asset is required as security. The lender assesses based on your credit history, income and overall financial situation. Typically carries a higher interest rate than a secured loan of the same amount.
The type of security you can offer will depend on the lender. Here are the most common options on our panel.
A car, truck, van or other registered vehicle can be used as security for a personal or asset finance loan.
A registered boat, launch or jetski can be offered as security against a secured loan.
Machinery, plant or business equipment can sometimes be used as security for a business loan.
Other assets may be accepted depending on the lender. Apply and our team will confirm what is available for your situation.
One short form. We handle the matching, the follow-up and the hard work.
Takes about 5 minutes. Tell us your loan amount, purpose and basic situation. Just the once.
We run a soft credit check and match you to the lender on our panel most likely to get you a better deal. A soft check does not affect your credit score.
Our team contacts you with your approval. If it works for you we guide you through to settlement. No obligation at any stage.
Ready to get started?
Apply in 5 minutes. One application. A better loan deal.
We help employed New Zealanders with a good credit history access secured lending at competitive rates.
You are employed
Full-time, part-time or self-employed with verifiable income.
NZ citizen, resident or eligible visa holder
Open and employer-specific work visas with at least 13 months remaining.
Good credit history
We work with borrowers who have a clean or near-clean credit record.
An asset to offer as security
A vehicle, boat or other registered asset that meets the lender's criteria.
Loan between $3,000 and $250,000
Terms from 6 to 84 months.
What to have ready
Having these on hand will speed up your assessment.
Your NZ driver licence or passport
3 months of bank statements
Details of the asset you are offering as security
Details of any existing loans or debts
Common questions about secured loans through Lending Room.
Can't find what you're looking for? Contact our team
A secured loan uses an asset as security against the debt. This typically allows the lender to offer a larger loan amount at a lower interest rate. An unsecured loan requires no security but usually carries a higher rate and has a lower maximum loan amount.
If you are unable to meet repayments on a secured loan, the lender may repossess the asset used as security. It is important to make sure repayments are affordable before proceeding. Our team will help you work through the numbers before you commit.
We run a soft credit check during our assessment which does not appear on your credit file or affect your score. Once we match you to a lender, some accept our soft check while others may run their own standard credit check. We will let you know before we submit.
In most cases no. If there is existing finance on a vehicle the lender who holds the security has first claim. Typically the asset needs to be owned outright or near-outright. Our team will confirm this when we review your application.
The minimum is $3,000 and the maximum is $250,000 depending on the lender, the value of the security and your personal circumstances. Loan terms range from 6 to 84 months.
A broker and introducer fee of up to $1,500 applies when your loan is successfully funded. This fee is added to your loan amount and is GST inclusive. It is disclosed clearly before you commit to anything and you are never under obligation to proceed. Lender establishment fees may also apply depending on the lender.
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One application, one soft credit check, matched to the right lender. Our team will help you work out whether a secured loan is right for your situation.
