Here are some of the more frequently asked questions which are posed to us about loans. If your question is not answered below, please contact us.
Applying For A Loan
Q. I am in Australia on an overseas visa – can I apply for a Personal loan?
Yes, you can apply for a Personal Loan. Each application will be assessed on it merits but most lender will require you to be a permanent Australian Resident.
Q. If I apply online, is my privacy protected?
Q. Can I get pre-approval before applying?
Yes we can definitely organise a pre-approval for you. Simply submit an enquiry to us to review.
Q. How long does it take to get approved?
We can usually get you an approval within 5 Business hours.
Q. What do I need to apply for a Personal loan?
Privacy form signed Bank statement, drivers licence and payslips.
Q. How do I apply?
You can enquire now or give us a simply complete the online application form.
For more information submit an enquiry by clicking on the enquire now button or simply Apply Now
Q. Can I use the Personal Loan product for a Car purchase?
Yes you can. Personal Loans can be used to purchase older vehicles.
Q. How old can the Car be in order to qualify for a Personal loan?
Most lenders base their decision on the customer profile and not the age of the vehicle for Personal Loans. In this case simply submit your application or Enquiry and let us review the details
Q. What happens now my loan has been approved?
We will arrange a time for you to sign the documents and usually within 24hrs the funds can be yours.
Q. I’ve got a bad credit rating?
We do finance applicants with bad credit ratings. We specialise in this area and have numerous lenders who can assist.
TIP: Try not to put numerous enquiries on your credit file by applying to many lenders.
Q. How do I get a good credit rating?
To get a good credit rating it is best if you stay in your loan for a minimum of 6 months and show a payment history that is early or on time.
General Loan Information
Q. Do I need to have insurance on the car?
Yes whenever there is finance on a car you must have valid certificate of currency (insurance policy) covering you.
Q. Can anyone apply for a loan?
Yes if you are over 18 years and working full time. We check all our application forms very thoroughly and if there is a problem we will contact you. In the meantime, simply apply and we can go from there together.
Q. Can you assist me with my Personal Loan?
Yes, due to our Nationwide distribution we can also refer you to Dealers and Tradespeople who can assist you in your circumstances.
Q. Can I finance an imported car as a Personal Loan?
Yes you can. There are specific policies surrounding imported vehicles. We can assist you with these. Simply apply or submit your enquiry.
Q. I have an international or overseas Drivers licence – can I apply for a Personal car loan?
This can depend on the visa/PR conditions individual to you. Please check out the department of transport website relevant in your State or Territory
Q. What term will my loan be over?
Loan Terms can vary from 2-5 years. In exceptional cases loan terms can be extended to 7 yrs
Q. Can I buy a Car, Motor Bike, Boat privately? Can I buy from a dealer?
Yes, finance can be arranged for Cars, Motor Bikes, and Boat purchased both privately and from Dealers
Loan Interest Rates
Q. How is the interest calculated?
Interest is calculated daily
Q. What is the interest rate going to be?
Interest rate on your loan is dependent on your individual application. We endeavour to work with you to achieve the best result in your circumstances.
Q. Is the interest rate fixed or variable?
The interest rate is fixed.
Q. How do I make my loan repayments?
You can choose to make your payments via direct debit or BPAY.
Q. How do I make extra repayments?
You can make extra repayments via BPAY, Bank Cheque or Money Order.
Q. Will I pay less interest if I payout my contract early?
Yes, interest is calculated daily, therefore the less you owe, the less interest you pay.
Q. How can I find out the payout figure?
Call our office for further instruction on obtaining a Payout figure.
Q. When do I make my first payment?
Usually it is a month after the settlement date. This depends on the finance company as there are some instances where we may be able to choose your first payment date.
Q. Can I pay the loan out early?
Yes, all Lenders provide you with a copy of their Terms and Conditions which stipulate how loans can be terminated early. In most cases there may be an early termination fee payable for early payout.