Frequently Asked Questions
- How long does it take to get approved?
- Can I get my finance approved before purchasing?
- What are my chances of approval?
- Are your interest rates competitive?
- I've got a bad credit rating?
- Do I need to provide anything with my application?
- When do I make my first payment?
- Can I make extra payments?
- Are there any application costs?
How long does it take to get approved?
Usually just a few hours, however complex or difficult applications can take a few days. Once approved original finance documents must be signed and the supplier will be paid directly usually within 1-2 days. Excellent!
Can I get my finance approved before purchasing?
Yes, providing you can give us an idea of what you’re intending to purchase. Getting pre-purchase approval before you go shopping is a good idea and can help you with your bargaining power. We must also approve your supplier, as there are many fraudulent vendors in the market place.
What are my chances of approval?
Aussie Personal Loans considers things such as: have you ever filed for bankruptcy, do you own a home, how much is your current income, how long have you been employed at your current job, how long have you lived at your current address, do you have a credit rating, what is your net worth, and so on. The financial officer will then apply some maths to ascertain your credit status, determine the security over the loan, your current debt level, your income, and your ability to repay the debt. From this Aussie Personal Loans will determine how much money you can borrow. You can do the sums yourself to determine your monthly budget. Simply deduct your expenses from your after-tax earnings.
Are your interest rates competitive?
Aussie Personal Loans will consistently monitor current interest rates to maintain and offer the most competitive deals in Australia. We challenge you to try & find a better deal. Aussie Car Loans will help you beat those banks. However, the interest rate offered may vary by several per cent depending on whether you are a high or low-risk borrower. Contact Aussie Car Loans and get a quote now, then compare us with the banks using the comparison rate schedule.
I've got a bad credit rating?
Aussie Personal Loans will always provide you with the most competitive offers it has available, however those with high risk, bad credit ratings or ex-bankrupts may try the 2nd chance product available. This 2nd chance option is more lenient & lax in relation to approval, however is generally a higher interest rate to cover the higher risk.
Do I need to provide anything with my application?
In most cases, No! If you wish to discuss your application please call and speak to one of our professional consultants on 1300 769 999, or simply apply online.
After a completed application is approved, we may ask for 100 point ID such as Driver’s Licence, Medicare Card etc.
When do I make my first payment? Can I make extra payments?
The first repayment will be due 14 days (if fortnightly) or one month (if monthly) after settlement of a personal loan. Business finance applicants have the first monthly repayment due on the day of settlement. Remaining payments are deducted from your nominated bank account. Extra payments of any amount can be made at any time by cheque, cash, direct deposit and BPAY where applicable (some fees may apply).
Are there any application costs?
Aussie Personal Loans and in fact all loans have monthly or ongoing account keeping fees, these may vary from Financier to Financier and State to State, if you are unsure during your application process, please call 1300 769999 (toll free) to discuss this with one of our professional consultants. Business applicants are subject to pay any government taxes, stamp duty, REVS, FID, GST and any other government charges – varies in each state.
Once approved, there is a once only fee to cover these costs and those involved with the set up, approval and/or establishment of your loan. This fee varies based on finance amount, state location, & product. Contact us to get an exact quote.
There is no fee if Aussie Personal Loans does not approve your application.
Have more questions?
Contact us now. Our refreshingly enthusiastic staff will be happy to help.
