The vehicle financing process can be a complicated web of confusion for most, we commonly receive a lot of questions on how loan process works. So we’ve created a wonderful roadmap showing the steps in our loan process.
The loan application process varies slightly depending on the type of vehicle you are purchasing. For the below example, we’ve used our most popular car loans to illustrate how we conduct your finance application for you.
First you decide it’s time to get a new car
You start looking at cars and find one or two you might like to buy
You do some research on borrowing and end up finding Positive Lending Solutions
You get in touch via a simple form on our website or a phone call
An experienced Positive Lending manager calls to discuss finance options with you
We make life easy, you can complete the application over the phone or via our website
We’ll also ask you about the vehicle you’re looking to purchase
Our specialist lending manager gathers your details and any lender required documentation
Your enquiry is submitted electronically to the lender best matched to your needs
The lender responds promptly and we call you to convey this information
If the lender requires extra clarification, we will follow this up with you
Once the lender grants pre approval – let’s start the hunt for a car!
Our vehicle locator will begin scouring the market for your new car
We’ll find a great value car to your requirements
Now, we resubmit your loan back to the lender with information on the vehicle you’re purchasing
Lender does their final checks, if all good, provides unconditional approval
The lending manager calls to congratulate and take you through the final steps
We’ll help organise comprehensive car insurance and other additional warranties you need
Your expert lending manager will email your loan documents directly to you to complete
Once sent back, we check everything is completed perfectly and send to lender for settlement
Your Car Loan settles – lender lodges documentation, funds are transferred
Time to celebrate and pick up your car
If you do something enough, you get very good at it. We help thousands of Aussies every month with vehicle finance. Car Loans are the most popular, we also find that personal loans for boats, motorbikes, caravans & jet skis are increasing in popularity. Additionally, with the increase in small business in Australia a lot more commercial loans are coming across our desks on a daily basis.
The loan process can often be slow and complicated, and this is an area where a broker can save you a lot of time and hassle. They will co-ordinate the whole process and do most of the running around for you. In fact, a good broker like Positive Lending Solutions can normally have your finance settled and you driving away within 24 hours of you agreeing to purchase a car!
So there you have it, the step by step Positive Loan process.
Whilst arranging car finance can be complex and often confusing, we hope this guide has shed some light on how partnering with us will increase your chances to get approved and reduce the amount of time the whole process takes.
Every month, Positive Lending Solutions helps make the finance process easy and hassle free for thousands of Australians, and we save them money to boot.
We have access to a huge range of finance companies - including some not available to the general public or through other brokers – and wholesale interest rates. Our staff are all highly experienced and knowledgeable, and we provide industry-leading, localised service.