askDirect






PROPERTY
PERSONAL
MARINE

FAQ



What is the legal definition of your loan?
It is known as an Instrument by way of Security or Conditional Sale and Purchase agreement. The loan is repayable by monthly instalments, it provides a range of options regarding deposit, term, and residual values.

Why are your interest rates not quoted on the website?
We offer a specialised product which is tailored to the client. The interest rate we can offer will be the most competitive available but will vary according to the age and type of the vehicle and the credit history of the client.

Will you finance older cars?
We are very flexible, within reason. Generally, the older the car, the shorter the term that we will accept.

Do you finance cars bought privately?
Yes.

Will you finance motorcycles?
Yes, provided they're registered road bikes.

What if my credit rating is poor?
Our flexibility allows us to deal with borrowers in all categories, however a higher interest rate would normally apply and additional guarantees may be required.

Can I get approval for a loan before I've found the car I want?
No problem, approval in principle can be given, subject to the car fitting the criteria for the loan.

How long will my pre-approval last?
A pre-approval remains 'live' for 30 days.

Will my application remain confidential?
The only people who will see it are ourselves and the finance company with whom we place the business.

How much deposit do I have to pay?
This can vary according to your personal circumstances, the vehicle, or the length of the term. In some cases, such as a business proprietor or homeowner, or where other securities are available, a no-deposit loan may be possible.

What are your application fees?
On most occasions there are no fees for our services.
However loans for clients with less than perfect credit may incur a brokerage fee once the loan is approved. This fee is always fully disclosed in the loan agreement.

How long does it take to process my application?
In straightforward cases, once we have acknowledged your application we can get approval in an hour or two. If there are complexities, it could take 24 hours.

Can you help me find a car?
We are fortunate to have a database of vehicles available through licensed Motor Vehicle Dealers. Click here to find your next car now.
We also recommend the following automotive sites as an excellent way to track down the car of your dreams:


Can I change the amount of my loan after it is approved?
Yes, just let us know your new requirements and we can process it without re-application. This is subject to the repayments still falling within your disposable income guidelines.

What is a credit reference?
Sometimes loans can only be approved subject to a statement from previous lenders that you have been able to make payments on similar loans in the past.

What is a guarantor?
Occasionally there will be a need for a loan to be guaranteed by a parent (or parent-in-law). The guarantor needs to be living in New Zealand and have a good credit rating. In a case of serious default on the loan, the guarantor will be legally responsible for any outstanding amount.

Does my car have to be insured?
Yes. It needs to be insured against theft and accident damage, and the finance company needs to be noted on the policy. We can help you to arrange the insurance.

Do you need to see the vehicle?
No, but if it is a private sale we need a valuation. We will give you a form which can be signed by any licensed dealer..

How are repayments processed?
Repayments need to be made by automatic payment, direct debit or internet banking from your nominated bank account.

If my circumstances change can I pay back the loan early?
Yes!