General Frequently Asked Questions
- What does Ask 4 Finance have to offer?
- What is Ask 4 Finance cirteria in getting a loan?
- What is a secured car loan?
- What is an unsecured personal loan?
- Personal or business finance?
- How long does it take to get approved?
- Can I get my finance pre approved before purchasing?
- What are my chances of approval?
- Are your interest rates competitive?
- I've got a bad credit rating?
- Can I buy a car privately? Can I buy from a dealer?
- Do I need to provide anything with my application?
- When do I make my first payment? Can I make extra payments?
- Are there any application costs?
- Are the any early payout penalities?
- Can we finance insurances in our loan?
- What is a low doc loan?
- What is a No doc loan?
- What is the best way to apply?
- Is my information secure?
- I have been declined elsewhere?
- Does making too many credit enquiries effect my credit rating?
- Where is Ask 4 Finance located?
General
Q. What does Ask 4 Finance have to offer?
At Ask4Finance it is our job to get our customers the very best deal on car loan finance. We offer highly competitive interest rates on all our car loan products with repayments and terms tailor made to suit your budget and financial needs.
With car loans starting from 7.70%* Ask4Finance are highly competitive with access to over 30 Finance Companies, Banks, Credit Unions and Non traditional Lenders 'where sure to unlock the right loan for you'.
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Q. What is Ask 4 Finance cirteria in getting a loan?
Ask 4 Finance has to asess each application on its own merits, meaning all customers are different and therfore all answers and approvals are different. While Ask 4 Finance can approve different situations such as unpaid defaults, bad credit, banruptcy doesn't mean that ever customer that falls in those catergories will get approved it simply means after assessing your individual loan you could be approved. The only requirement that must be met is a proven ability to repay the loan by way of pay slips, bank statements, tax assessment or whatever Ask 4 Finance requires as a condition of your loan. The only exception to this is if you are self employed and qualify for our No Doc loan product.
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Q. What is a secured car loan?
Secured car loans means that the finance company takes an interest in your vehicle and it is encumbered to REVS. This product has a wide range of products including New & Used Car Loans for Personal or Commercial use, Bad Credit Car Loans and Low / No Doc Car Loans and has the greatest flexibility due to the security the finance company has in your vehicle.
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Q. What is an unsecured personal loan?
Minimum loan is 3,000.00. Suitable for holiday loans, debt consolidation, furniture, and for all general purpose use, even old cars & boats unsuitable for the secured finance mentioned above with terms from 1 year up to 7 years offered. The interest rates offered are either fixed at a competitive rate or a variable interest rate allowing you to take advantage of possible interest rate drops.
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Q. Personal or business finance?
Business finance (hire purchase, chattel mortgage or lease) is available to both company & individuals, providing the goods are to be used predominantly for business use, ie more than 50% business usage. For example, taxi drivers, mobile sales reps, couriers, etc could qualify for a hire purchase, chattel mortgage or lease.
Ask4Finance can arrange a business finance loan for you at usually the lowest interest rates, and there are many structures available to maximise your budget or tax benefits.
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Q. How long does it take to get approved?
Most times in as little as 15 minutes or usually just a few hours, however complex or difficult applications can take a few days. It all depends on how much information you provide up front in your application and the strength of your application. An Ask4Finance consultant will guide you every step of the way and be in constant contact.
Once approved original finance documents must be signed and the supplier will be paid directly usually within 24 hours.
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Q. Can I get my finance pre approved before purchasing?
Yes, providing you can give us a rough idea of what you're intending to purchase and the minimum or maximum you would like to finance or spend per month. Getting pre-purchase approval before you go shopping is a good idea, allowing bargaining power on the showroom floor and can be done in as little as a few hours.
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Q. What are my chances of approval?
Ask4Finance has a great strike rate when it comes to getting our customer approved. Ask 4 Finance considers 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, what is your net worth, and so on. The financial officer 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. The best way to find out if you will be approved is to apply online it is a FREE NO OBLIGATION application , simply meaning if we do get you approved you do not have to proceed if you change your mind.
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Q. Are your interest rates competitive?
Ask 4 Finance will consistently monitor current interest rates to maintain and offer the most competitive deals in Australia. We challenge you to try & find a better deal. Ask 4 Finance will help you beat those banks. However, the interest rate offered may vary by several per cent depending on whether you are a high or low-risk borrower.
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Q. I've got a bad credit rating?
Ask4Finance will always provide you with the most competitive offers it has available. Bad Credit ratings, unpaid defaults or Ex-Bankrupts are definately suited to our Bad Credit Car Loan product available online. This Bad Credit Car Loan option is more lenient in relation to approval, however is generally a higher interest rate to cover the higher risk and generally all of the customer information needs to be verified by identification, proof of address, pay slips, rental agreement and bank statements.
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Q. Can I buy a car privately? Can I buy from a dealer?
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Q. Do I need to provide anything with my application?
Apply online and complete all the questions and agree to the privacy consent form.
On approval some or all of the following may also be requested:
- Payslips or Letter from your Employer
- Bank Account details for Direct Debit
- Bank Statements showing Income
- Centrelink Statements
- Proof of home ownership
- Rental or Tenacy Agreement
- Formal Identification - 100 Pionts
- Drivers licence (with correct addresses)
- Self Employed Tax Assessments
- ABN - if Low / No Doc Loan
Wait by the phone or email and one of our trained qualified car loan consultsnt we be in contact with you in just hours.
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Q. When do I make my first payment? Can I make extra payments?
The first repayment will be due 14 days (if fortnightly) or one month (if monthly) after settlement of a personal loan. Business finance applicants have the first monthly repayment due on the day of settlement. Remaining payments are deducted from your nominated bank account.
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Q. Are there any application costs?
Once approved, there is a once only fee to cover the costs and those involved with the set up, approval and/or establishment of your loan. This fee varies based on finance amount, product and loan settled. Contact us to get an exact quote.
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Q. Are the any early payout penalities?
Ask4Finance can arrange many different loans with many different car loan financiers, banks or credit unions. Most fixed rate loan contracts do have an earlier payout penalty or break cost, please discuss these options with a consultant depending on your loan approval.
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Q. Can we finance insurances in our loan?
Ask4Finance can arrange for insurances to be included in the loan. Ask4Finance can also offer our customer a wide range of insurance products including comprehensive, GAP / Shortfall, Consumer Credit Insurance and warranties.
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Q. What is a low doc loan?
A low (lo) doc loan is for customer who are self employed either without current financials or in a new business but can prove income by way of bank statements. This car loan product is available if you have an ABN and the vehicle is mainly for business purposes. Financiers generally prefer good credit history on this car loan product.
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Q. What is a No doc loan?
A No Doc loan is for self employed customers who have no proof of income at all. This car loan product is only for people with excellent credit histories and who are home buyers with equity in there property.
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Q. What is the best way to apply?
You can complete an application online or you can contact us and wed can take the application over the phone.
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Q. Is my information secure?
Yes. Ask4Finance keeps your information confidential and private and is only used in the manner of obtaining your car loan and only after obtaining your consent to do so. The online application is 100% secure.
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Q. I have been declined elsewhere?
No Problems, Ask4Finance has experience in arranging the right car loans for you that is our job. You might have applied to banks that do not understand todays market or a new car finance company that only want the best customers. Ask4Finance will have a financier that will approve your car loan.
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Q. Does making too many credit enquiries effect my credit rating?
Sometimes it can effect your credit rating, this is the exact reason you should use Ask4Finance, we have the knowledge and experience to get your car loan approved. It is not your fault that you have applied to the wrong place before or the car yard put you to the wrong financier, Ask4Finance can still get your car loan approved.
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Q. Where is Ask 4 Finance located?
We are conveniently located in Brisbane for all our Queensland car loan customers, however Ask 4 Finance operates Australia wide so everyone can enjoy our fast efficient car loan service.
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