Title Loans – Secured Loans Up To $10,000

A title loan can get you the finance you need today. Attach your vehicle as security and you can potentially access personal loans up to $10,000 through a range of lenders online. Interested to know more? Monzi’s here to cover everything you need to know about title loans. Let’s go.

Please note, certain ideas and products presented in this article may not be offered by Monzi nor the lenders we work with. This article presents only general information. Consider seeking professional financial, taxation, legal or other advice to check how the information and ideas presented on this website relate to your unique circumstances.

Title loans explained

With a title loan, the borrower is required to give the title of their asset (typically their car) to the borrower in order to secure the loan. Put simply, a title loan is simply another term for secured loan.

In short, the asset you provide (e.g. car, boat or caravan) guarantees your loan. In the event that you default on your repayments, lenders can explore steps to repossess the asset and sell it in order to recover the losses they have incurred.

As a result, you shouldn’t apply for a title loan without first considering whether they are right for your financial situation. After all, you could potentially lose your vehicle.

In any case, these direct money loans typically come in the form of a lump sum payment (e.g. $10,000). From there, you must make a series of regular, even repayments until you’ve paid off the balance of your loan.

Can I get loans against car title Australia?


A car title loan is one of the most common secured loans you will encounter. In short, your loan is secured by your car. From there, the loan’s structure is the same as any other secured loan.

Obviously, given this, in order to be eligible to apply you must own your current vehicle outright. In addition to this, you will typically need to be in a secure financial position and be earning a regular income too.

However, as we’ve mentioned, be careful. If you default on your loan then it is possible that your lender may repossess your car in order to cover the loss incurred. As a result, it’s crucial to only agree to loans which you can afford.

You could use your loan to purchase a bike, a new washing machine or even a new phone.

Secured loans bad credit

Your credit history is often one of the key considerations for lenders when they assess your application. After all, it reflects your history and reliability as a borrower. With this, bad credit loans may often feel hard to find.

In saying this, it’s far from impossible. Now more than ever, there are a host of great lenders who are potentially willing to quickly loans online for bad credit. Rather than focusing their attention on your credit score, your outcome may be based on your income and expenses too.

Best of all, if you’ve got bad credit then securing your loan can potentially help you access a more competitive interest rate. After all, guaranteeing the loan with your car means there’s less risk for the lender.

However, approval for bad credit finance is never guaranteed. Moreover, your lender will determine the interest rate that you are offered on bad credit secured loans.

Variable rates may or may not be available.

Auto loans reviews

With the range of lenders available both online and in-person, it’s always a good idea to check their user reviews. That way, you can get an idea how they treated borrowers in the past.

Obviously, if they have an extensive range of glowing reviews then you can be confident that they will do things by the book and treat you well. On the other hand, a string of bad reviews could be a warning to steer clear.

Ultimately though, this is only one consideration. There are a number of factors you must consider before agreeing to any loan. However, we’ll have more on that below.

Loans car title: can I get them online?


These days there are a number of online lenders who may offer the car title loans you require. All you need to do is submit an application and you can potentially have an outcome in no time.

One thing to keep in mind is that it pays to shop around. Don’t just accept the first instant loan you’re offered, compare products to find the right deal for you.

Not sure where to begin? Consider the following

  • Interest rates and fees
  • Comparison rate
  • How much can you borrow?
  • What repayment terms are offered?
  • Who is the lender?

However, this is just a quick list. Head to MoneySmart for more information.

Do banks do secured loans?


Banks are one option available to you when looking for car title loans. In many cases, they may be able to offer larger loans than online lenders.

At the end of the day though, it will be up to you to determine which lender is right for you. While banks are one option, you can potentially access these loan products through a range of online lenders and credit unions too. Shop around and compare what’s on offer to find the loan that potentially works best for you.

Title loans woman's reflection in green car window

What do I need for a title loan?

The main requirement is that you own an asset which can be used as security. This could be a car, boat, caravan or a range of other assets. If you are unable to provide an asset then you will be ineligible for a personal loan.

Beyond this, exact requirements will vary between lenders. However, as a guide you will typically need to be in a solid financial position and be earning a regular income. Moreover, your credit score may need to be above a certain level.

In any case, lenders reserve the right to approve or deny applications where they see fit. Your application will be considered, however ultimately, your lender has the final say.

How much can I get for a title loan?

This will depend on the lender or financial institution that you are dealing with.

In most cases, lenders offering personal loans will only be prepared to offer cash loans up to $10,000. With this, you’ll often have the choice of repayment terms ranging from 12 to 24 months.

If you need to borrow a little bit more, then you may need to apply with a bank or credit union. Typically, these lenders will be able to offer large cash loan amounts. Having said this, it may be possible to find lenders online offering these sizable finance options.

Ultimately, it’s up to you to do the research and find the lender that can offer the loan product you require.

What can I use secured loans for?

Title loans, like with most personal loans, can cover a range of expenses. In fact, as long as it’s a legitimate personal expense, that’s all that matters. As a result, the list of possible uses is almost endless.

To give you an idea of some of the most common uses, we’ve put together a quick list. Check it out:

  • Car repairs, servicing or purchase
  • Household maintenance or repairs
  • Debt consolidation
  • Rental bond
  • Sizable medical and vet bills.

However, that’s just a start. There are hundreds of other reasons why you might need a secured personal loan. Just make sure you provide a clear and accurate reason when you apply.

Is a secured loan a good idea?

In short, Monzi is unable to say. In many cases, whether it is a good idea or not will come down to how you manage your repayments.

If you agree to a loan that is affordable and you are able to make your repayments comfortable then a secured loan could be a useful option. On the other hand though, if you borrow too much, miss repayments or even default then the consequences will be significant.

While there will be damage to your credit score if you miss repayments, default is the worst case scenario. As your car is attached as security, if you default on your repayments then the lender can potentially repossess your vehicle to recover their losses. As a result you will be left without a car which will likely be a major headache.

Given this, before agreeing to a loan be absolutely certain that it is the right choice for you. After all, you’re potentially risking losing your vehicle. So, take care.

Can you be denied a title loan?


Loan approval is not certain. Lenders are required by Australian lending legislation to assess all loan applications they receive. With this, they are required to determine your suitability for credit. In other words, they must not offer a credit contract that is unsuitable for your needs, objectives and financial situation.

Given this, lenders retain the right to approve or deny applications where they see fit. As a result, rejection is always a possibility.

How long do they give you to pay back a title loan?

Lenders will typically provide a range of repayment terms from which you can select the one that works for you.

As a guide, for secured personal loans from $2,100 to $10,000, repayment terms will typically range from 13 to 24 months. So, select the one that works for you.

Obviously, the shorter your term, the larger your regular repayments will be. On the flip side, a longer repayment term will mean your regular repayments aren’t quite as large.

With this, it’s up to you to find the balance. Aim to repay your loan in an efficient yet comfortable manner. Above all else, always ensure your repayments fit with your budget. Selecting large repayments that you cannot afford is a recipe for disaster.

Do you need a job to get a title loan?

Typically, you will need to be employed to be approved for a loan. This is simply due to the fact that you must be receiving a form of income in order to be eligible.

If you are unemployed, approval will be much more difficult. In short, you will need to prove that you are earning income in some form. This won’t be a wage but could be benefit payments or rent received from an owned asset. Without income, you will be ineligible.

Even with an income source, approval is far from certain. Lenders will assess your application to determine your suitability for credit as well as your capacity to make repayments. Unemployment will significantly hinder this.

Does a secured loan hurt your credit?

In short, it can. A secured loan is no different to any other loan or type of credit contract that you enter in that the way you manage it will have ramifications for your credit score.

In the short-term, when you agree to the contract your credit score will take a minor hit. A new credit contract reduces your average age of credit which has a negative effect. From there though, it’s in your hands.

Obviously, if you make your repayments as scheduled and pay off your loan on time then your credit score will not be hurt in the long-term.

On the other hand, if you miss repayments, make them late or default on your loan, your credit score will be hurt. In addition to this, these listings may remain on your credit report for up to seven years. As a result, it’s your responsibility to ensure you only ever agree to a loan that is affordable and reasonable for your circumstances.

Learn how to apply for financial hardship.

What else can I use as security?

As we’ve mentioned, you can use your car, motorbike or caravan to secure your loan. However, these may not be your only options.

As a guide, some lenders may be willing to accept art, jewellery or even home equity. Unfortunately, though, Monzi cannot guarantee if the lenders in our network will offer these options.

Moreover, if you want to secure a loan using your super, unfortunately, this won’t be possible.

Can Monzi offer me a title loan?

At Monzi, we do not offer loans ourselves. Instead, we are a lender-finder service. In short, we aim to pair your application with a potential lender.

If you are looking for a secured personal loans specifically, you will need to apply for loans valued over $2,000. Any loan worth $2,000 or less is always unsecured.

The loans potentially available through Monzi’s network of lenders are:

LoanAmount (AUD)TermSecurity
Small personal loan$300 to $2,000Up to 12 monthsUnsecured
Medium personal loan$2,001 to $4,60013 to 24 monthsSecured
Large personal loan$5,000 to $10,00013 to 24 monthsSecured

Please note, the repayment terms may vary between lenders. Therefore, the actual terms of your loan may differ from what we present above.

Monzi may also be able to match you with lenders offering traditional car loans up to $30,000.

Bear in mind, however, the cheapest car loans may not be available through Monzi’s network of lenders.

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You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000


12 months (minimum)

12 months (maximum)


20% upfront establishment fee

+ 4% monthly fee


Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. The minimum and maximum loan term is 12 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Loan amount

$2,001 - $4,600


13 months (minimum)

24 months (maximum)


48% Annual Percentage Rate (APR)

67.41% Comparison Rate p.a.


Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Annual Percentage Rate (APR) for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000


13 months (minimum)

24 months (maximum)


21.24% Annual Percentage Rate (APR)

48% Comparison Rate p.a.


Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Annual Percentage Rate (APR) for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.