Browse Frequently Asked Questions:
Below you’ll find a series of our most popular questions that were asked from time to time about car loans and auto finance Perth. To reveal the answer, simply click on the ‘ ‘ symbol. Everything you’ve wanted to know about auto finance and vehicle loans on the one place! If by chance we haven’t answered your question, please contact New Start Auto Finance Perth by clicking here.
2 x most recent payslips or latest years tax return and notice of assessment if self employed Drivers License Shire Rates Notice if you own a property Bank Details to set up the direct debit
There are Low Doc options available for vehicle and equipment finance. Ranging from start up business to established.
We have access to a wide range of lenders on our panel which opens more doors for you as a client in terms of rates being more competitive and helping find the right lender to suit your needs. This will really depend on the asset you are purchasing and the applicant i.e. Credit History.
Term of loans can vary from 1 to 7 years for new vehicles and equipment. For used goods term of loan may be approved on a shorter basis depending on the lenders policy.
No. The lenders will only take security over the vehicle and equipment you are purchasing. No additional security is required.
This is a lump sum payment at the end of the loan term which you are required to pay. Generally balloons/residuals are between 30% and 50% of the purchase price.
Yes. The fees vary from lender to lender. There are fixed rate break costs which are unascertainable at the time of termination and there are early payout fees. The early payout fees on a consumer loan decrease as the loan gets older. However on a consumer loan the interest is daily reducing (same as a home loan). For business facilities the interest is not reducing and you basically pay all the interest for the term of the loan if you break the loan facility.
You may be able to refinance the balloon/residual over a term that the lender is willing to approve depending on your circumstances at the time.
These vary from lender to lender and they all have different qualifying criteria. The rate will be determined by, how much you borrow, whether it’s new or used, term of the loan, overall strength of the application, credit history. Most lenders have adopted a points scoring profiling system which will determine you overall cost of the loan.
This is dependent on the type of goods being purchased, its age and again the overall strength of the client.
We can turn around a standard loan application within one business day from submission to settlement.
No. We can finance private sale purchases also.
We can go through an application with you over the phone at a convenient time and can arrange signing of documents via email or fax.