Comparing 4 offers. Updated June 2, 2026.
Best Egg specializes in fast, fixed-rate personal loans up to $50,000 with the option to use a vehicle as collateral for lower rates.
OneMain Financial offers secured and unsecured personal loans up to $20,000, accepting bad credit and even no credit history.
Figure offers fast online HELOCs with funding in as little as 5 days, leveraging blockchain technology for transparent terms and competitive rates.
Mariner Finance is a regional consumer lender with 480+ branches across 27 states, offering personal loans, secured loans, and auto loans for fair credit borrowers.
A secured loan is backed by collateral, usually a home, vehicle, savings account, or other asset. Because the lender has security, APRs are lower than unsecured personal loans and approval is easier for borrowers with fair or rebuilding credit.
The most common forms are home equity loans and HELOCs (collateral: your home), auto loans (collateral: the car), secured personal loans (collateral: vehicle or savings), and title loans. Best Egg, OneMain, and Figure offer popular secured personal loan options.
You get lower APRs and longer terms, but you put the asset at risk. Missing payments on a secured loan can lead to foreclosure (home), repossession (car), or loss of pledged savings. Borrow only what you can repay comfortably and read the lien terms carefully.
Common collateral includes your home (mortgage, HELOC, home equity loan), vehicle (auto loan, OneMain Secured, Mariner secured), savings or CD account (PenFed, USAA), retirement assets (Achieve), and investment portfolios (margin loans at brokerages like Fidelity and Schwab).
Loan-to-Value is the percentage of the collateral value that the lender will lend. For home equity products LTV is typically 80 to 85 percent. For auto loans LTV is 100 to 110 percent. Higher LTV means more risk and usually a higher APR.
The lender can repossess the collateral. For a home this is foreclosure (a formal court process in most states). For a vehicle it is repossession (the lender hires a recovery agent). For savings or stocks, the lender liquidates the asset. Default also damages your credit for 7 years.
Usually yes. A secured loan typically saves 2 to 8 percentage points compared to an unsecured loan for the same borrower. The savings are highest for borrowers with weaker credit, where the collateral compensates for the credit risk.