FAQ
About Automobile Loan in New Zealand
Frequently Asked Question
Can I refinance my loan with your organization?
Yes, we have different options available for you, and it might help you for sure as our previous customers have received and it has worked for them. We have many borrowing options and we offer you vivid choices so, that you can a adopt best option according to your need.
How much of a loan can I borrow?
It depends on the various considerations of the applicant. And we have worked with different considerations of the clients. For further futuristic information's you can contact us at our website and our different social media platforms.
Can you help me find a car according to my needs?
Yes, we have our collaborations with different dealerships and in your local area too. We can definitely help you to find your ideal car. We take your needs and other concerns and search for your car.
How do I repay my loan?
See, most lenders, they require repayments that too via direct debit This way helps you out to pay without any struggle. And in any other cases the payments can be done via payroll deduction or automatic payments.
How long does it take with the proceedings?
As soon we get your full documents and once it gets verified, we process in forward preceedings for the approval. The more information we have, it will allow us to get approval faster. And with the application we have an answer for you within an hour. We ensure to proceed your documents without any hassle to you to get the best.
What documents I need to get finances?
We usually ask you to complete an application form or a proof of an income to assess. These documents are mainly accepted as a bank statements, Payslips, or financial accounts.
Other documents what we can ask for is, ID proof ( resident proof, Driving licence, voter card).
These documents will help you to gain approval without any objections or hurdles.
How can I apply for loan?
It is a simple process. At our website all we ask to fill an applicant form. You can opt of online mode or you can call us or visit at us.
Applying for an automobile loan with us is a non-troubling process. We have made it easy.
I have actually paid defaults on my file, so is it possible for me to get finance for a car?
Yes, with this process is easy to make. We have different collaborative partners with whom you can easily finance your car. Our collaborative partners are willing to help willing to help you. And with us it is possible to finance car with default pay.
What determines the interest rate of my loan?
The interest rate on your loan is directly depends on the term of the loan, how much you are willing to borrow, credit score history, your financial commitments, and your income.
These parameters allow to suggest and finalize the interest rate on your borrowed money from the financial institution.
Why my car have to have the warrant and registration?
Having roadworthy vehicle which is registered and secured as well affects your interest rate positively.
Can I buy my vehicle privately?
Yes, with us you can finance your personal vehicle as we provide auction option like- Trade Me. Our representatives provide you full information regarding your loan and then you can proceed further without any hesitation.
If I have any query, with whom am i supposed to get the help from your desk?
You can e-mail us at our mail ID and you can also connect with us on various social media platforms such as:- LinkedIn, Instagram, Facebook, Twitter. And you can also call us. We with our representatives try to revert back immediately or within 24hrs.
Do I need to have a deposit?
We do not always ask for deposits, we can finance you up to 100%. So, you can receive your service from us without any hurdle. We make sure to proceed further with smooth proceedings.
What happen if I pay my loan in full early?
If you are willing to pay your loan in full before the actual final payment then there will be two types of fees which you will be charged for:
- A fixed fee will be charged to cover the pay of you settling loan.
- A variable fee will also be charged to you because to cover any loss when it gets derive from breaking the funding associated with the loan.
These are to be done to ensure safety of the loan.
And to find out more information on the early repayment fees, you can check our fact sheet on the website.
What if i go default under the agreement?
There are certain obligations which are mandatory to meet, which also includes the obligation to make regular payments.
We have security interest that it has financed your vehicle for you. And if you fail to meet the conditions which lies under the agreement policy, then we maybe entitle and repossess to sell your vehicle. And if the sale which do not cover your outstanding debt to us. You will then remain liable for the shortfall. And also other fees may applied to you if you fail to meet commitments under the agreement policy. And these information you can easily find on our Fees and Document page.
It is important to agree when you are eligible to meet all the certain respective criteria and if you slip to default you may get charged shortfall and we may repossess your vehicle for which you have borrowed the loan.
What should i do if i change my address?
If you have changed your address or have shifted to the new location all you can simply do is update your details respective online or you can contact to us directly.
Am i supposed provide any security to you?
Usually, the car or vehicle which you are supposed to purchase, is used as a security for the loan. Other data's for the security purpose you don't have to provide.
How long will the application process take?
The online application or phone application will approximately take your 15-20 minutes to finish up the whole application procedure with intact information's.
How does finance work when i am buying a car?
You and we enter into a contract where you can easily buy a car and you also agree to pay for it over the period of time with the finance charges. It is a dealership financing.
What type of loan is an automobile loan?
An automobile loan is secured means of simple-interest loan for a car bought from a dealership. And you can beat an automobile loan preapproval from us directly. All you have to do is to provide an appropriate information and fill it in our application.
What is the cheapest way to finance loan?
The cheapest way is to use savings for buying a car or vehicle. Personal loans are although cheaper way but it has a condition and that is when you have your good credit history.
If you have bad credit history then you must choose alternative .
What will be the repayment amount of my loan?
With our loan calculator you can check your repayment account and then according to you can easily adjust the time you want to have the loan re and amount of the loan which you would like to borrow.
How credit score affect loan?
Your credit score history may affect the financing process of your vehicle or car loan application. But this doesn't mean that you won't be able to get a car loan. All you may have to do is to pay for the interest and buy a less expensive vehicle and you must be ready to for the additional security.
How car loan affects credit score?
If you are taking car loan or automobile loan which can affect the credit score of you. It works both the ways. It may include:
YOUR APPLICATIONS: If you apply from us and other lenders to it will negatively affect your credit.
As we have dealt with different terms of our clients previously, and we have helped our clients to secure them. So, trust us and feasibly you can take car loan.
YOUR REPAYMENTS: If you pay off you car loan on time and in full early, it may affect your credit positively.
YOUR DEBT STATUS: If it adds to multiple existing debts, then your credit score history will get affect negatively.
With us you can safely get you car loan and you don't have to worry about the bad credit score. And for further details contact us.
We are here to help do contact us, we want to help.
What are my cancellation right?
If you are willing to cancel the credit contract, you have a right and you can cancel it within 5 business days. You can notify us. However, if you cancel the contract and still willing to buy a car then you can show up with cash price in 15 business days.
If you have taken the vehicle to home, you can cancel the contract within 5business days but if you still have to purchase your vehicle then you can take cash price to us for the car within 15 business days.
What if i buy a faulty car?
If any fault you found in your possession whether it is minor or major you immediately need to contact to us and make sure you do your repayment of the loan at a time.
With us you receive a solution such as- repair, replacement or refund under the Consumer Guarantees Act.