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Ask Us A Question
Q. How long does it take to get approved?
A. Usually just a few hours, however complex or difficult applications can take a few days. Once approved original finance documents must be signed and the supplier will be paid directly usually within 1-2 days
Q.
Can I get my finance approved before purchasing?
A.Yes, providing you can give us an idea of what you're intending to purchase. Getting pre-purchase approval before you go shopping is a good idea, allowing bargaining power on the showroom floor. Bendigo Lending needs to assess the total amount of finance against the current market value of the item. We must also approve your supplier, as there are many fraudulent vendors in the market place.
Q.
What are my chances of approval?
A. BLS 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. From this BLS will determine how much money you can borrow. You can do the sums yourself to determine your monthly budget. Simply deduct your expenses from your after-tax earnings.
Q.
I've got a bad credit rating?
A. BLS will always provide you with the most competitive offers it has available, however those with high risk, bad credit ratings or ex-bankrupts may try the 2nd chance product available. This 2nd chance option is more lenient & lax in relation to approval, however is generally a higher interest rate to cover the higher risk.
Q.
Can I buy a car privately? Can I buy from a dealer?
A. Dealer, auction, private sale and re-finance are welcome. Some used vehicles may require a vehicle inspection prior to payment - please discuss with our staff prior to purchase.
Have more questions ?
Contact us now. Our refreshingly enthusiastic staff will be happy to help.
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