Frequently Asked Questions

If I apply online, is my privacy protected?
Absolutely. We take privacy very seriously at Best Loans; see our privacy policy

Can anyone apply for a loan?
Yes if you are over 18 years and working full time. We check all our application forms very thoroughly and if there is a problem we will contact you. In the meantime, simply apply online and we can go from there together.

What term can my loan be over?
The usual term for a car/boat/motorbike loan is 2-5 years. The majority of people take it over 5 years.

Can I buy a car/boat/motorbike privately or can I only buy from a dealer?
Yes, we are able to finance private car/boat/motorbike purchases.

What is the interest rate going to be?
The interest rate applicable on the loan is dependent on the strength of the applicant

Is the interest rate fixed or variable?
The interest rate is fixed.

Can I pay the loan out early?
Yes, with all our loans you can pay them off early. However depending on who you finance your loan with, there may be an early termination fee payable.

How can I find out the payout figure?
Give us a call and we can advise you of your payout figure.

When do I make my first payment?
Usually it is a month after the settlement date. This depends on the finance company as there are some instances where we may be able to choose your first payment date.

How do I make my loan repayments?
You can choose to make your payments via direct debit or BPAY.

How do I make extra repayments?
Usually you can make extra repayments via BPAY however your personal broker can advise you of the best way to do this.

Will I pay less interest if I payout my contract early?
Yes, interest is calculated daily, therefore the less you owe, the less interest you pay.

How do I get a good credit rating?
To get a good credit rating it is best if you stay in your loan for a minimum of 6 months and show a payment history that is early or on time.

I’ve got a bad credit rating. Can you help me with finance?
We do finance applicants with bad credit ratings. We specialise in this area and have numerous lenders who can assist.
TIP: Try not to put numerous enquiries on your credit file by applying to many lenders.

How is the interest calculated?
Interest is calculated daily

Can I get a zero deposit approval?
Depending on your profile you may be eligible for a zero deposit approval. We will try to get the lowest deposit approval we can.

What do I need to apply for a loan?
Privacy form signed, Bank statement, drivers licence and payslips.

Do I need to have insurance on the car/boat/motorbike?
Yes whenever there is finance on a car/boat/motorbike you must have a valid certificate of currency (insurance policy) covering you.

How old can the car/boat/motorbike be to finance?
Most lenders have a condition where the car or motorbike can not be older than 12 years at the end of the term of your loan.

There are no restrictions on the age of a boat to be financed.

Can you help find me the car/boat/motorbike of my dreams?
Yes. We can find you the perfect car/boat/motorbike for your situation. Give us a call for more details.

Can I finance an imported car or motorbike?
Yes you can.

Can I get pre-approval before purchasing?
Yes we can definitely organise a pre approval for you.

How long does it take to get approved?
We can usually get you an approval within 2 hours

I have an international or overseas Drivers licence – can I apply for a car/boat/motorbike loan?
This can depend on the visa/PR conditions individual to you. Please call us on 1300-002-190 to discuss your eligibility.

I am in Australia on an overseas visa – can I apply for a car/boat/motorbike loan?
If you are living and working in Australia on a 457 Visa, you can apply for a loan through Best Loans. Please note that the term of your loan does need to end before the expiry of your visa.

What happens now that my loan has been approved?
We’ll need to organise a time for you to sign the documents with us, and then – usually within 24hrs – you can pick up your new car.

How do I apply for a loan?
You can apply online now or give us a call on 1300-002-190