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The Finance Plug


In short , the answer is no. When we are taking your initial application and conducting our checks on your credit history, at no point is any official enquiry placed on your credit file. As Finance Brokers we have to compare your overall situation between 40 different lenders to see who is going to offer you the best terms and wouldn’t be doing our due diligence if we didn’t have all the information first. Once you have decided on which lender you would like to choose from, we place an official application directly to that lender who then will affect your credit score however it is only a small hit which comes back in a short amount of time which is unascertainable.

A Car loan which is commonly referred to as a secured car loan, involves a lender giving you the money to buy a vehicle for personal use. This loan will then be secured against the vehicle on the PPSR ( Personal Property Securities Register) until your final repayment has been made which they then remove and you own the car outright.

A balloon payment is a lump sum owed to the lender at the end of a loan term after all regular monthly repayments have been made. Balloon payments can range from 10-40% depending on age of vehicle and your loan term, to which this number is completely optional and is determined by the client. This allows you to only make payments on part of the principal amount in exchange for a lump sum payment at the end of the loan term. But what if you just want to keep the car and don’t have the cash? Not a problem, we can always refinance the balloon portion for an extra couple of years and you can pay it out in installments !

You can borrow from $5,000 up to $1 million, its all completely dependant on your overall situation i.e. Credit score, previous finance, property ownership and what your borrowing capacity is looking like. While we would love to give exact numbers, we have to follow responsible lending guidelines & calculate your borrowing capacity based on your income versus your expenses. This can be influenced by credit cards, mortgages, rent payments and dependent children.

Yes, yes and yes! We love staying in touch with our customers even LONG after the loan has settled. Whenever you need any help with anything in regards to a potential refinance, new finance , payout letters and or even just want to have a chat about your weekend we would love to have that conversation!

Most of our lenders will finance in the on-road costs for whatever you are buying to not have you out of pocket!

You can always pay it off sooner, some come with no exit fees and some come with small fees however this is completely dependent on whatever lender you choose, which we will tell you about their structure prior to the settlement of your loan on request!

Its simple! We have a brief discussion on your requirements and objectives for the finance, find you a suitable option, collate documents and get you approved! From there we do all the heavy lifting and arrange for loan contracts once you have found your car or decided on your personal loan! Sounds easy enough right ?