To be able to make an informed decision on your finance purchase, we believe transparency is the key so we’ve provided some answers to some of the most faq’s – frequently asked questions.


iCREDIT provides our customers a hassle free way of finding suitable car financing options for their purchases. By comparing and negotiating with Australia’s leading banks and auto financiers coupled with personalised customer service we can achieve bank beating rates for your next purchase.

How do I apply for car finance?

Applying for car finance is easy. Complete our online application, chat to us online or contact us on 1300 350 118

I have bad credit. Can I get car finance?

Yes, we provide customers with a wide range of lenders and loan products to choose from and can help with car finance for discharged bankrupts, credit defaults or your bank has simply said ‘No’

What do you finance?

We provide car financing options for:

New cars

Used cars

Import vehicles

Classic, Unique and Muscle cars

Business car finance

Second chance car loans

Car loans for Centrelink income

Do you offer Car Finance for Self Employed with No Financials ?

Simple answer is ‘Yes’

We can provide vehicle financing options for ABN holders, whether you are starting a new business venture, sub contractor or a Company. We provide a range of lenders and loan products for you to choose from. If you’re unsure on what car loan product will be suitable for you, please contact us on 1300 350 118

Do You Provide Car Finance For Private Sales?

Yes, if you happen to find a vehicle that’s being sold privately that’s suitable to your needs, we can source a suitable loan for budget and lifestyle. We will also do the necessary background checks to ensure your protected.

Can I Compare My Existing Car Loan Quote With You?

Compare! Compare! Compare!

If you’ve haven’t picked up the phone and compared your current car loan approval with another financier, then it may cost you more than you think.

We welcome phone calls to discuss your current loan answer and usage requirements. As we are mindful of making unnecessary credit enquiries on credit files, we will only gather information from you if we believe we can achieve a better answer.

My Bank, Broker or Dealer Finance Has Said No, Can I Apply?

With the introduction of the comprehensive credit reporting system, we are mindful of protecting our clients credit file and rating. If you have been declined by your bank, broker or dealership finance department, we have a range of lenders and loan products available that may be able to provide a suitable answer. We recommend you discuss your circumstances with us prior to submitting a loan application.

Do You Provide Car Finance For Discharged Bankrupts?

We have helped many Australian’s re-establish their credit rating. We may need to gain some additional information to assist with your car loan application and will work with lenders to find the best answer possible.

I haven’t decided on what to purchase, can I gain a pre-purchase approval?

Yes, it is possible to obtain a pre-purchase car loan approval, subject to the lenders criteria. A pre-purchase approval will allow you to budget more efficiently for your new purchase and will also give you the confidence of deciding on a purchase should you find a bargain.

What frequency can I make the car loan repayments?

Lenders will generally accept weekly, fortnightly or monthly repayments and can be organised with the lender at settlement of the loan.

Am I allowed to make extra repayments?

Most lenders welcome additional repayments, however you need to check your car loan contract to make sure there is a benefit to you. Your lender or finance consultant will be able to provide the necessary information regarding specific loans.

What do I need to provide for a motor vehicle loan application?

Lenders will require the following to be able to assist with processing loan applications:

Proof Of Income –

  • Last 2 payslips /or 3 months bank statements and a Letter of Employment.
  • Tax Returns /or BAS and 3 months Bank Statements if Self Employed.

ID Documents –

  • Driver’s Licence /or Passport /or Proof of Age Card
  • Medicare Card /or Birth Certificate /or Utility Bill /or ATO Notice

Proof of Residency –

  • Copy of your Rental Lease /or Council Rates Notice /or Board Letter
Are there any early terminaton fees if I pay out the loan early?

Most lenders will allow you to pay out the loan early, however there may be break costs associated with finalising the loan.  Your decision to finalise early may be affected by the amount of interest you may save, along with possible insurance savings and other benefits, versus the cost to break the loan. Before you make a decision you may like to speak with us or seek professional financial advice.

How long are the car loan terms?

You can choose to have a car loan between 1 year to 7 years, depending on your affordability. Some loans will also offer balloon or residual payments at the end of the loan term.

We can help structure a loan to suit your needs and budget.

What is a PPSR Report?

The PPSR is a national register of security interests held over property.

It allows banks and financiers register an interest over goods being financed. The PPSR will provide information to buyers and other parties of any security held over personal property.

Do I need to have Comprehensive Insurance cover for my purchase?

If purchasing a car using the secured loan option, banks and financiers will require you to have the goods comprehensively insured throughout the loan term.

You will need to make sure your insurance company also notes the financier on the insurance policy as an interested party. Your iCREDIT consultant can assist you in finding suitable insurance for your purchase.

What is a balloon / residual payment?

A balloon payment is a percentage of the loan amount you can set aside for as a last payment. You can nominate the balloon / residual amount from 10% – 50% of the total loan.