Frequently Asked Questions

Questions our expert finance brokers get asked every day:

1. What does a finance broker do for me?

  • Evaluate how much you can afford, taking all of your circumstances into account
  • Provide expertise about which lenders are most likely to approve your application for finance, and where you will get the best deal.
  • Prepare your application for finance and present it in a professional submission to the lender
  • Arrange pre-approval on a loan to make shopping around hassle-free.

2. How long does it take to get a loan approved?

After taking down your information, our brokers will have an answer regarding your loan application usually within 24 hours. More information on our loan process can be found here.

3. I am starting my own business. Will I be eligible for finance for the vehicle I need?

When you speak to one of our Commercial Loan Brokers, they will assess your current situation and requirements, and provide advice on the best route to access the transport you need.

4. Do you only do car loans?

No. We are able to provide a wide range of finance solutions, including:

We can also provide you with insurance quotes to protect your investment.

5. I’m discharged from bankruptcy, can I get a loan?

Yes. Once you are discharged, we can help to to select the right loan and begin the path to building a solid credit history. Positive Lending Solutions are proud of our ability to find finance for people with a low credit score, giving you the opportunity to make a debt-free fresh start.

6. Do I have to buy a car from you?

Absolutely not. We can help you to find the optimal car loan for your financial and personal situation, giving you a budget to shop within. With this knowledge, you can shop around for a car from a dealership or a private sale. Once you find the car you want, let your broker know and they will ensure that you get a fair price, taking the stress out of negotiations for you.

7. Can you help me to find a car?

Yes, if you tell us what you are looking for, our vehicle sourcing experts will use our resources to search the vehicle market to find your desired car.

8. What is your interest rate?

Our rates start from 3.99%. The interest rate that will apply to your loan will depend upon your credit history and a number of other factors such as the car you choose to buy, your assets and liabilities. For detailed information on how interest rates will be determined, read more here.

9. Can I make an enquiry on behalf of my partner?

Yes, if you have the information regarding your partner’s residential history, liabilities, employment and income, we can get the loan process started. We will need to get a privacy consent from your partner in order to make the initial enquiries.

10. What is my maximum repayments?

Once your loan is approved, your finance broker will be able to calculate your maximum loan repayments, so that you can work out whether you will be able to comfortably afford the loan before you sign the contract.

11. I’ve been in an accident, and my car was written off while it was still under finance - can I get a new car loan?

Yes, you can get a new car loan approved as soon as the insurance cover is lodged and your previous loan contract is finalised.

12. I’m a casual employee, will I be able to get a car loan?

If you have continuous casual employment, we will be able to help you to find an appropriate car loan. At Positive Lending Solutions we understand that a car is essential to get you to and from work, and we will source the appropriate loan within 24 hours.

13. You can provide an insurance quote - will this be a separate payment each month, or can it be lumped into a single payment?

Insurances will be included within your loan payment, so you only have one bill to worry about and you know it includes everything you need for complete peace of mind.

Once you’ve found the car you want to buy, your broker can give you a quote on exactly what your repayments will be, including all of you insurance.

14. Once I find the car, how long will it be before I can take it home?

When you have a pre-approved loan, as long as we get all the documentation from you, we can have you in your new car by the next day.

15. What types of insurance are available, and how much extra will they cost?

Our brokers can arrange insurance to cover you if you lose your job, if the car is written off or stolen (Gap Protection). If something does happen, the insurance means the loan will be paid out, and you won’t have to keep paying for a car you don’t have any more.

We can also arrange a 3 year warranty for major parts such as the gearbox and engine so you are covered if anything goes wrong. The cost is no more than a cup of coffee or a movie each week. Check out our insurance page for more comprehensive information on vehicle insurance options.

16. What are the insurers that you use?

  • Eric Insurance
  • Swann Insurance
  • Suncorp
  • National Warranty

17. I have defaults on my bank account, will this affect my ability to have a loan approved?

It does depend on how many defaults you have, and what the reasons for them were. If it has only happened once or twice and there is a very good reason for it, you should still be fine to get a loan at a competitive rate. If you have a more extensive or a short credit history, our brokers will still be able to get you second chance.

Positive Lending Solutions specialise in arranging finance for people who have had a bad run, if you speak to a broker they will be able to work out exactly what’s right for you. They’ll make sure you get a loan contract that you can afford, starting you on the path to a clean credit history.

18. What kinds of bad credit do you commonly help with?

One of the most common defaults is a telephone bill default. We can help with all kinds of bad credit, from an overdrawn bank statement, a credit file with a lot of enquiries, to unpaid defaults or discharged bankruptcy.

19. What information do you need to get me a loan approval?

Driver’s licence, 3 to 6 months of bank statements, payslips. As soon as we have this info, we can make an application for a loan on your behalf.

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