Personal Finance

Whether you are buying a car, motorbike, caravan or boat, or you need a personal loan for something else entirely, finding the right finance starts with having the right options.

Sierra Finance is a Melbourne based personal finance broker with access to 50+ lenders, and we do the comparison work so you can focus on what you are actually buying.

From fast approvals on straightforward purchases to tailored solutions for more complex situations, we match your circumstances to the lender that fits best.

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Our Lenders

What You Can Finance with Personal Finance

Personal finance covers any borrowing for individual or household purposes rather than business use. The lending conversation is different from commercial finance because there is no ABN requirement, no GST claim, and the loan structures are built around personal affordability rather than business cash flow. Below are the main categories we arrange finance for, whether you are a first time buyer or upgrading something you already own.

Car Finance

Buying a car is one of the most common reasons Australians seek personal finance, and it is also where the right broker makes the biggest difference. Banks offer a single product at a single rate. We compare secured car loans across 50+ lenders to find better rates, more flexible terms, and approval pathways that work for your specific situation. Whether you are purchasing new or used, from a dealer or private seller, we handle the entire process from application to settlement. We also arrange finance for used vehicles that some lenders consider too old for their standard products by matching you with lenders who take a more flexible view on vehicle age.

Learn more about Car Finance

Motorbike Finance

Motorbike finance works differently to car finance in a few important ways. Loan amounts are typically smaller, age restrictions can be tighter, and not every lender on a broker's panel will fund motorbikes at all. That means working with a broker who knows which lenders are actively writing motorbike loans is more important than it is for a standard car purchase. We arrange secured finance for road bikes, cruisers, adventure bikes, sports bikes, and off road motorcycles, covering new and used purchases from dealers and private sellers.

Learn more about Motorbike Finance

Caravan Finance

Caravans, motorhomes, camper trailers, and RVs are high value purchases that most people only make once or twice in their lifetime, which means the finance process is unfamiliar territory for most buyers. The good news is that caravans generally hold their value well, and lenders view them favourably as security. We arrange secured caravan loans with competitive fixed rates and terms up to seven years. Whether you are buying a brand new touring van from a dealership or a well maintained used caravan from a private seller, we find the right lender for the purchase and structure the loan around your budget.

Learn more about Caravan Finance

Boat Finance

Boat finance is a specialist area where having a broker matters more than most people realise. Not all lenders fund marine purchases, and the ones that do have specific requirements around vessel type, age, engine hours, and whether the boat is registered for saltwater or freshwater use. We arrange secured finance for tinnies, runabouts, cabin cruisers, fishing boats, ski boats, and pontoon boats. Loan amounts typically start from $10,000 for smaller vessels and extend well into six figures for larger boats with outboard packages or trailer setups. We also arrange finance for boat motors and trailers as part of the same loan where the lender allows it.

Learn more about Boat Finance

Personal Loans

Sometimes the finance you need is not attached to a specific asset at all. Personal loans give you access to funds for a wide range of purposes including medical expenses, home renovations, weddings, travel, education costs, or any other significant expense where paying upfront is not practical. Because these loans are typically unsecured (meaning there is no asset for the lender to register security against), the interest rates are higher than a secured car or caravan loan, but the trade off is flexibility. You choose the amount, the term, and the repayment frequency, and the funds can be used for almost any legitimate purpose.

We compare unsecured personal loans across our lender panel to find the best rate and terms for your situation. Loan amounts generally range from $5,000 to $50,000 with terms from one to seven years. If you have an asset that could serve as additional security, some lenders will offer a blended rate that sits between fully secured and fully unsecured, and we can structure the application to take advantage of that.

Debt Consolidation

If you are managing multiple debts across credit cards, buy now pay later accounts, store finance, and existing personal loans, consolidating them into a single loan with one repayment can simplify your finances and potentially reduce the total interest you are paying. Debt consolidation works by taking out one new loan to pay off all your existing debts, leaving you with a single balance, a single interest rate, and a single repayment schedule.

We assess your current debt position, compare consolidation options across our lender panel, and structure a loan that genuinely improves your situation rather than just moving debt around. The key is making sure the new loan's total cost of borrowing (including fees and the interest over the full term) is lower than what you are currently paying across all your existing debts combined. We walk you through those numbers before you commit to anything.

How Personal Finance Works

Personal finance in Australia falls into two main categories, and understanding the difference is the first step to getting the right loan.

Secured finance means the lender registers a security interest against the asset you are purchasing (car, motorbike, caravan, or boat) on the Personal Property Securities Register (PPSR). Because the lender has that security, they can offer lower interest rates, longer loan terms, and higher loan amounts. The asset needs to meet the lender's criteria for age, condition, and value. Most new and recent model used assets qualify comfortably, while older assets may need a lender with more flexible age policies.

Unsecured finance means there is no asset backing the loan. This is the structure used for personal loans and debt consolidation, and it is also the fallback option when an asset is too old or too low in value to qualify as security. Unsecured loans carry higher interest rates and shorter terms because the lender is taking on more risk, but they offer greater flexibility in how the funds can be used.

Both secured and unsecured personal loans come with fixed interest rates and fixed repayment schedules as standard, so you know exactly what you are paying each month for the life of the loan. Variable rate options exist but are less common on the consumer side.

Your broker's job is to assess your situation, determine which structure fits best, and then match you with the right lender from our panel. In many cases, the difference between a good outcome and an average one comes down to knowing which lender's credit criteria align with your profile, and that is where a broker with access to 50+ lenders adds the most value.

Who Personal Finance Is For

Personal finance is available to any Australian resident over 18 who meets standard lending criteria. You do not need an ABN or a business entity to apply. The most common borrower profiles we see include:

Employed individuals with regular income from full time, part time, or casual employment. Most lenders require a minimum employment period (often three to six months in the current role) and stable income history.

Self employed individuals who need personal (not business) finance. If you already have an ABN for your business but the purchase is for personal use, the loan is assessed on your personal income and expenses rather than business financials. This is common with business owners buying a weekend car, motorbike, or caravan.

People with less than perfect credit who have been declined by their bank. We work with specialist lenders who assess applications on a case by case basis rather than applying blanket credit score cutoffs. Rates will be higher, but approval is often possible where a bank would say no.

First time borrowers who have never had a loan before and have limited credit history. Some lenders view this positively (no negative history) while others prefer to see a track record. We know which lenders suit first time borrowers and structure the application accordingly.

Existing Sierra Finance clients who already use us for business or commercial finance and need personal finance as well. Having your commercial and personal lending managed by the same broker means we already understand your financial position, which simplifies the process considerably.

Why Use a Broker for Personal Finance

The most common alternative to using a broker is walking into your bank and applying directly. That gives you access to one lender's products at one lender's rates with one lender's credit criteria. If your profile fits their box, you get an approval. If it does not, you get a decline and a hit on your credit file.

A broker gives you access to 50+ lenders through a single application process. We compare rates, terms, fees, and credit criteria across the entire panel before submitting your application to the lender most likely to approve you at the best rate. One credit enquiry instead of shopping around on your own and accumulating multiple hits on your file.

For personal finance specifically, the broker advantage goes beyond rate comparison. Consumer lending criteria vary significantly between lenders. One lender might decline a used car loan because the vehicle is 10 years old, while another lender on our panel will happily fund it at a competitive rate. One lender might require 12 months in your current job, while another accepts three months with continuity in the same industry. These are the details that determine whether you get approved and at what rate, and they are the details a broker navigates every day.

There is no cost to you for using our service on most consumer loans. The lender pays the broker's commission as part of the loan, and the rate you receive through a broker is the same (or often better) than what you would get going directly to that lender.

Get a Free Personal Finance Quote

Compare personal finance options from 50+ lenders with no obligation. Tell us what you are looking to finance and we will come back to you with the best options for your situation.

Get a Free Quote

Getting Personal Finance

Step 1: Tell Us What You Need

Get in touch by phone, email, or the form on this page. Let us know what you are looking to finance (car, motorbike, caravan, boat, or personal loan), the approximate amount, and whether you have found something specific or are still looking. We will ask a few questions about your employment, income, and any existing debts to get a clear picture of your borrowing position.

Step 2: We Compare Your Options

We assess your profile against our panel of 50+ lenders and identify the best matches based on rate, terms, approval likelihood, and any specific requirements you have. We come back to you with a clear recommendation, including the interest rate, repayment amount, loan term, and any fees, so you can make an informed decision before we proceed.

Step 3: Approval and Settlement

Once you are happy with the option, we submit the formal application, manage all the paperwork, and liaise with the lender through to approval and settlement. For asset purchases, this includes coordinating with the dealer or private seller. Most straightforward applications settle within 24 to 48 hours of receiving all required documentation.

Personal Finance FAQs

What is the difference between secured and unsecured personal finance?

Secured finance uses the asset you are purchasing (car, motorbike, caravan, or boat) as security for the loan. The lender registers their interest on the PPSR, which means they can repossess the asset if you default. In return, you get lower interest rates, longer terms, and access to higher loan amounts. Unsecured finance has no asset backing the loan, so rates are higher and terms are shorter, but you have more flexibility in how the funds are used.

How much can I borrow with personal finance?

For secured loans against an asset, you can typically borrow from $5,000 up to $150,000 depending on the asset's value and your borrowing capacity. Unsecured personal loans generally range from $5,000 to $50,000. The exact amount depends on your income, existing financial commitments, and the lender's assessment criteria.

Do I need an ABN to get personal finance?

No. Personal finance is specifically designed for individual borrowers without a business requirement. You apply using your personal income (employment, pension, or other regular income) and the loan is assessed on your personal affordability. If you do have an ABN but the purchase is for personal use, you still apply as an individual borrower.

Can I get personal finance with bad credit?

Yes. We work with specialist lenders who assess applications on a case by case basis rather than relying solely on credit scores. The rate will be higher than a standard approval, and additional documentation or a larger deposit may be required, but approval is achievable for most situations. The key is matching you with the right lender for your credit profile from the start rather than applying to a mainstream lender and collecting an unnecessary decline.

How long does personal finance approval take?

Most straightforward applications receive conditional approval within 24 hours. Settlement (when the funds are released) typically occurs within one to three business days after all documentation is received and verified. More complex applications, such as those involving adverse credit history or non standard income, may take a few additional days.

What documents do I need to apply for personal finance?

Standard requirements include proof of identity (driver's licence or passport), proof of income (two to three recent payslips or tax returns if self employed), bank statements covering the last 90 days, and details of any existing debts or financial commitments. For asset purchases, you will also need details of the vehicle or item you are buying (registration number, VIN, or listing details).

Is there a cost to use a broker for personal finance?

In most cases, no. The lender pays the broker's commission as part of the loan structure, and the rate you receive through a broker is the same or often better than going direct to the lender. If a specific lender arrangement includes any fee, we disclose this upfront before you proceed.

Can I finance a used car or motorbike that is more than 10 years old?

Yes, depending on the lender. Some lenders set a maximum age at end of term (for example, 15 years), while others are more flexible for assets in good condition with strong resale value. If the asset is too old for a secured loan, an unsecured personal loan is typically the alternative, though at a higher rate. We know which lenders take a flexible view on older assets and match your application accordingly.

What is the difference between a fixed rate and a variable rate on a personal loan?

A fixed rate stays the same for the entire loan term, so your repayments never change. A variable rate can move up or down based on market conditions, which means your repayments could change over time. Most personal finance in Australia is written at a fixed rate because borrowers prefer the certainty of knowing exactly what they will pay each month.

Can I pay out my personal loan early?

Most personal loans allow early payout, though some lenders charge an early termination fee. The size of this fee varies between lenders and depends on the loan type and how far into the term you are. We always check the early payout terms before recommending a lender, especially if there is any chance you might want to pay the loan off ahead of schedule.

What can I use an unsecured personal loan for?

Almost any legitimate personal expense. Common uses include medical procedures, dental work, home renovations, weddings, travel, education fees, and emergency expenses. Unsecured personal loans cannot be used for business purposes, gambling, or to pay off existing loans with the same lender. Beyond those restrictions, the funds are yours to use as you see fit.

How does debt consolidation work through a broker?

We review all your existing debts (credit cards, buy now pay later, personal loans, store accounts) and compare consolidation options across our lender panel. If a consolidation loan genuinely improves your position by reducing total interest and simplifying repayments, we arrange it. If the numbers do not stack up (for example, if extending the term would mean paying more interest overall), we tell you that upfront rather than pushing a loan that does not actually help.

Will applying for personal finance affect my credit score?

A formal credit enquiry is recorded on your credit file when a lender assesses your application, and multiple enquiries in a short period can affect your score. The advantage of using a broker is that we identify the most suitable lender before submitting, so you typically have one targeted enquiry rather than multiple applications across different lenders. Some lenders also offer pre approval with a soft credit check that does not appear on your file.

Can I include accessories or extras in my finance?

For secured asset purchases, many lenders allow you to include related accessories in the loan amount. This could mean including a canopy and bull bar in a ute loan, panniers and a top box in a motorbike loan, or an annexe and solar setup in a caravan loan. The total loan amount still needs to sit within the lender's loan to value ratio for the asset. We structure these applications regularly and know which lenders are flexible with accessories.

What happens if I am declined for personal finance?

A decline from one lender does not mean a decline from all lenders. Each lender has different credit criteria, risk appetite, and product parameters. If your application is declined, we review the reason, identify alternative lenders from our panel who may take a different view, and discuss your options before proceeding. In many cases, a decline from a bank simply means the application needed to go to a different type of lender in the first place.

What Our Clients Say About Us

    
 
 
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   Andrew Beckwith 
 
 
 
  Sierra Finance recently assisted me in obtaining a number of vehicles for my commercial transport business. I dealt with Lawrence - he efficiently arranged for financing at competitive rates, provided a great service and enabled me to get my fleet on the road in no time. Thanks again.
  
 
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   oksana pashoulia 
 
 
 
  I had an excellent experience with Lawrence from Sierra Finance. He was incredibly professional, knowledgeable and helpful throughout the entire financing process. He made everything simple to understand, answered all my questions promptly, and guided me to the best options for my needs. I felt confident and well taken care of from start to finish. Highly recommend if you're looking for reliable and trustworthy financing services!
  
 
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   David Leahey 
 
 
 
  Lawrence was fantastic all the way through! A real professional and achieved a great result for me. Would highly recommend!
  
 
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   Josh Harris 
 
 
 
  Lawrence at Sierra Finance was incredible from start to finish! From the first phone call to settlement day, they made the entire process so simple and stress-free. They turned my dream of expanding my business into a reality and secured a very reasonable rate for me. Highly recommend them to anyone looking for finance.
  
 
      Posted on Google  
   
   Freddie Twigg 
 
 
 
  I recently had the pleasure of securing a business loan through Sierra Finance, and I couldn't be more satisfied with the experience. From start to finish, the team demonstrated exceptional professionalism, making the entire process smooth and stress-free.

Ready to Get Started with A Free Personal Finance Quote?

Call us on 0416 960 969 for a quick chat about your options, or fill out the form below and we will get back to you the same business day. No obligation, no credit check until you are ready to proceed.

Client Testimonials

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