Frequently Asked Questions

Vehicle Finance

• How does Credit One work?

  Credit One is a finance broking firm. We impartially evaluate your situation and provide the best finance solution to match, sourced through our wide range of well-respected lenders.

• How do I apply?

  It's easy. We can complete an application over the phone - just give our friendly team a call on 0800 300 500. Alternatively you can complete our Online Loan Application.

• What do I need to get finance?

  The requirements vary from person to person and business to business, but typically include photo identification, proof of address, and proof of income.

• How long does it take?

  Upon receipt of all required information we can generally obtain approval for car finance within an hour!

• How do I repay the loan?

  Most lenders require payments to be made by Direct Debit. In some cases we can set up an Automatic Payment arrangement instead.

• I have adverse credit history, can I still get finance for a car?

  Yes, we have a number of lenders willing to help.

• Can you help me find a car?

  Credit One has relationships with a number of reputable dealers and your finance consultant can help steer you in the right direction to find the car you're after.

• Can I refinance my existing loan?

  Yes - whether you're looking to reduce your payments or refinance a balloon payment, Credit One can assist.

Insurance

• How long does a quote take?

  Quotes can be given in as little as 5 minutes.

• What insurance companies do you offer access to?

  Autosure, Protecta, MARAC and others through our broker partner.

• What level of accident insurance is required for a secured loan?

  You must have comprehensive insurance on any vehicle that has been secured for the finance contract.

• How long does my insurance policy run for?

  Comprehensive motor vehicle insurance runs for a maximum of 12 months. Financial insurances can run for the term of your loan.

• What is Market Value?

  Market Value is the reasonable cost to replace your vehicle with one of the same make, model, age, mileage and condition etc at the time it's a total loss.

• How do I pay for my policy?

  You can pay your comprehensive motor vehicle insurance in full, or by instalments throughout the year. Financial insurances are generally included in your loan repayments.

Finance for Businesses

• What is the difference between Credit One and my bank?

  Credit One is able on many occasions to get lower rates than if you were to go directly to your bank. This is because we have built solid relationships with the banks and financiers so they are able to offer us rates lower than their standard rates. We also take you through every step of the way. One of the great benefits of using Credit One is that once you use our services once we have everything on record and it makes the future transactions simple and pain free, whereas with your bank they will always ask for things that just don’t seem necessary or questions that they have already asked in the past.

• What is the process?

  After taking your application over the phone or receiving an online application, we obtain Privacy Act authority and carry out a number of internal checks and assessments, before processing and submitting your application to one of our financiers. Whether an answer is obtained almost immediately or it takes a bit longer, we keep you fully informed along the way.

• How long with this process take?

  Once we have everything that we require from you, we have an answer back from the financier within 1 - 48 hours, meaning we can often be out meeting you to sign documents on the same day. The size and complexity of the transaction can impact this service standard.

• Do you need my financials?

  Depending on the asset you're buying, time you've been in business and your credit history, financials may not be required.

• How are you paid?

  Banks and finance companies will pay us based on several factors including the amount of support we give to them. There are often no charges to you however if there are, they will be full disclosed prior to any finance proceeding.

• Can I pay weekly, fortnightly or monthly?

  Most commercial loans are structured with monthly repayments, however weekly or fortnightly payments may be possible in some cases. Your finance consultant will discuss the options with you.

• Can I make additional payments?

  You can, although in most cases this will only place your repayments in advance and not reduce the interest; your finance consultant will advise the process that's specific to your contract.

• Do I have to pay the fees upfront or can I finance them?

  Most people choose to build any fees into their repayments, however they can be paid upfront.

• Do I have to buy from a dealer?

  No, you can also purchase from a private vendor. We will advise and undertake the necessary steps to ensure the transaction is carried out smoothly.

• Can you organise insurance for me?

  Yes, in many cases we can, if not we have business partners who can assist.

• How old can the goods be?

  Due to the wide range of lenders we work with, we are able to have goods of almost any age approved.

• Is there a fee if I decide not to go ahead?

  No, we don't charge any fee to you for our services. If in the very rare circumstance that we do, we will provide a letter of mandate for your acceptance prior to commencing any work.

Marine & Leisure Finance

• Can I get pre-approved before purchasing?

  Yes, then you're free to choose exactly what you want to buy.

• How do I apply?

  It's easy. We can complete an application over the phone - just give our friendly team a call on 0800 300 500. Alternatively you can complete our Online Loan Application.

• Do I require a deposit?

  Depending on your application details, some lenders will finance the full amount of your purchase. Many finance companies, when approached directly, require a large deposit however we are often able to negotiate around this.

• How old can the asset I want to purchase be?

  Credit One has arranged finance for boats and recreational vehicles that are more than 20 years old at the time of purchase - your finance consultant will advise if there any restrictions are likely to apply to your specific application as it's also dependent on applicant profile.

• How long can I take the loan over?

  Like vehicle finance, terms are available up to five years.

• What do I need to apply for a loan?

  The requirements vary from person to person and business to business, but typically include photo identification, proof of address, and proof of income - your finance consultant will advise.

• Do I require comprehensive insurance?

  Yes. Comprehensive insurance is required on the asset you're purchasing for the duration of your loan. Credit One can even help you arrange insurance for your purchase.

• Do I have to buy a boat with a motor or can I just buy the hull? Or, can I finance just the motor?

  You are able to finance a hull, motor or trailer individually or as a package. In most instances you will need to provide the details of the hull to purchase the motor separately.

• Can I purchase from a private seller?

  Yes you can, and your finance consultant will help liaise with the seller and arrange supporting documentation.

   

• Why Credit One and not my bank?

  As brokers, we have access to many different lenders that have various guidelines and rates. We can individually assess your situation and affordability to find the best product that is right for you or your business.

• What if I have bad credit?

  This being the case we have a few avenues in order to assist clients with adverse or slow history. Best be upfront with us so we can assess the application accurately which will allow us to provide a quicker answer.

To find out more on why Credit One is the simply smarter way to finance, request a quote, apply online, or call us on 0800 300 500.