FREQUENTLY ASKED
QUESTIONS
What do we offer?
Car loans?
Minimum car loan amount is
$10,000.00. Motor vehicles preferably no more than 8 years old.
(Classic, import, prestige vehicles, and older trucks will be
considered). The car finance will be secured on your purchase at
a fixed interest rate that will not go up over a 3 to 5 year
term. We also provide a wide range of finance products including
truck loans, bike loans, and boat loans, and a unique 2nd chance
finance service for people with bad credit or just having
difficulty getting a loan.
Do we
offer business finance?
Yes - Hire purchase, chattel mortgage,
novated lease, or finance lease is available to both company
& individuals providing the goods are to be used
predominantly for business use. Other products include fully
maintained car lease, luxury car lease, equipment finance,
machinery finance, & farm finance. Business finance in
many cases attracts lower interest rates, and there are many
structures available to maximise your budget or tax benefits.
Contact us or speak to your tax adviser.
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. For a
flaming fast approval apply online now.
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, allowing bargaining power
on the showroom floor. We need to assess the total amount of
finance against the current market value of the item. We must
also approve your supplier, as there are many fraudulent vendors
in the market place.
What are my
chances of approval?
We consider 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, is it a good or bad credit rating, what is your net
worth, and so on. Our experienced consultants 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 we 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?
We will consistently monitor current interest
rates to maintain and offer low rate car loans and cheap car
insurance. We challenge you to try & find a better deal. We
will help you beat the competition. However, the interest
rate offered may vary by several per cent depending on whether
you are a high or low-risk borrower. Contact us and get a quote
now, then compare us with the rest using a comparison
rate schedule.
I've got a bad
credit rating?
We 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 and forgiving in relation to finance
approval, however is generally at a higher interest rate to
cover the higher risk. For more information click
here
Can I buy a
car privately? Can I buy from a dealer?
Dealer, auction, private car sale and
re-finance are welcome. Some used cars may require a vehicle
inspection (eg NRMA or RACQ) supplied to us prior to payment,
particularly those purchased privately. Please discuss with our
staff prior to purchase.
Do I need to
provide anything with my application?
If self employed or applying for business
finance (hire purchase, chattel mortgage, novated lease, finance
lease, or car lease) please complete application and forward your
most recent financial statements/tax returns, payslip, and/or
group certificates. This extra information will speed up your
assessment & may also allow you to qualify for a discount on
interest rate based on that information. On settlement some of
the following may also be requested before finalising:
1. Most recent payslip or letter from your employer
2. Bank account details for direct debit
3. Proof of home ownership i.e. copy of council rates notice
4. Copy of your driver's licence (with correct address)
5. Comprehensive insurance policy
6. Rent receipt (if your renting)
When do I make my first
payment? Can I make extra payments?
Car loan repayments are usually 14 days
(then fortnightly) after settlement of a personal car 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 fees to
apply?
There is no fee to apply for a car loan.
Depending upon the lender used some charge monthly or
ongoing account keeping fees, however at Dinkum we strive to
select the very best lender from our panel to suit your needs and
this means examining the overall package which includes fee
structure, rates and so on. For business finance applicants you
are subject to pay any monthly government taxes, stamp duty,
REVS, FID, GST and any other government charges - but these
vary from state to state. There is a once only
establishment fee once you proceed with a loan. This fee
varies based on finance amount, state location, & product.
Contact us to get an exact quote and mention to us what is your
most important factor on a loan whether it be low rates or
charges.
Have more questions?
Contact us now. Our enthusiastic
staff will be happy to help.
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