Frequently asked questions

You need to be 18 years or older to enter into a credit contract.

Not always, but it does add strength to your application.

Yes, you can prepay your loan at any time. There is an early settlement fee to cover the costs involved, refer to our Rates & Fees for details. Interest, Administration Fees and any PPI insurance premiums relating to the remaining term are rebated.

Once we have all of the information necessary, we would expect to complete our assessment within one hour.

We will settle your debts directly with the companies involved.

It costs nothing to apply. A loan establishment fee will apply and can be included in the loan amount. Refer to our Rates & Fees for details

Yes, after checking it is affordable for the customer and provided it complies with our responsible lending guidelines.

Yes we will. We do need to get an invoice from the seller, and confirm their identity against motor vehicle registration details for your protection.

We are willing to assess all applicants. We understand that most of us experience difficulties at some stage and sometimes a co-borrower or guarantor may be necessary. Talk to us about the circumstances so we can seek to provide a suitable solution.

$1,000.00

We can secure over motor vehicles, boats, jetskis and/or property. Unsecured loans are available to applicants demonstrating strong creditworthiness.

We normally require a minimum of a restricted licence to proceed with a loan, however depending on circumstances, creditworthiness and support available we may agree loans on Learner Licences.

A person who is willing to guarantee your payments will be made and be liable for the debt if you fail to meet your obligations.

Yes, during the term of the loan your vehicle must be insured with MyFinance’s interest noted on the policy.