Your Questions Answered

The most important factor in determining how much you can borrow is affordability – or how much the repayments will be compared to how much disposable income you have. We work this out based on your current income and expenses.

Interest rates vary depending on your profile – your credit rating and other factor lenders take into consideration like how well you have paid off loans in the past, whether you are a home owner etc.

Loan terms depend on two things (1) how long you want the loan for and (2) affordability – how much you can comfortably afford to repay monthly. Once this has been determined, a term of between one and five years is fixed.

Wherever possible, we aim to get back to you within two hours. If your application is urgent, please call us on 0800 100 050 after submitting the loan application.

Yes we do – it all comes down to affordability and the size of loan and type of vehicle purchasing.

Yes. If you have a type of car in mind, it’s also helpful to include it in your application. We can change the vehicle you finally decide before finalising your loan.

A Guarantor is a person who supports you obtaining finance. They will be required to signs the same contract and agree to make payments if the primarily client does meet their commitments.

A Guarantor is a person who supports you obtaining finance. They will be required to signs the same contract and agree to make payments if the primarily client does meet their commitments.

Yes, we regularly get loans approved for customers with bad credit. The same application process applies.

It’s really up to you. Payments can be made weekly, fortnightly or monthly using an Automatic Payment from your bank account or by using a Direct Debit to make things easier for you.

Yes, 18 is the minimum age to enter into a contract

Absolutely – we can help people on a learner license. The application process is the same as for someone on a full license.

Yes, there is an establishment fee of up to $450 and an introducer fee of up to $995.

You can pay off your loan before the end of its term; early repayment allows you to save on interest and become debt-free sooner. However, early repayment fees may apply; they will be written into your individual loan contract. It is advisable to understand what these are before proceeding with any lump sum payments.

The minimum loan amount is $5000 and the maximum amount varies depending on your income and fixed outgoings.

This is a great question – you will need to provide proof of identity (your driver's license), proof of income (payslips, bank statements) and proof of your address (utility bills etc).

Yes, we can finance both Private Sales and Dealership purchases, in both cases we do extensive checks to make sure the seller of the vehicle is in fact the owner.

A deposit is not always required, again it’s a case-by-case basis, and we work with you to make sure the finance agreement is suitable for you.

This is more common than you think, all you need to do is contact the team at CarMoney and they will work with you through this process to make sure everything is done correctly.

You will need to contact CarMoney straight away to arrange for the payment to be caught up immediately, it's always best to communicate any missed payments straight away so that your credit history can be protected.

CarMoney offers a comprehensive “Loan WOF” to help you get a second opinion on your vehicle loan. We'll review your current loan and explore options that may save you money and improve your financial situation. You can start the process online by filling out our contact form and our Finance Ninjas will be in touch!