Looking for answers about car loans, personal loans, refinancing, or equipment finance in Australia? Below you’ll find clear, straightforward information about how iCREDIT works, loan eligibility, approvals, credit scores, private sales, repayments and more.
As an Australian finance broker, iCREDIT compares a wide panel of lenders to help you secure competitive rates and flexible terms — whether you’re buying a car, caravan, motorbike, horse float, or consolidating debt.
We’ve added some commonly asked questions for equipment finance below
iCREDIT provides car finance (new & used), personal loans, equipment finance, caravan & horse float loans, business loans, and refinancing support to suit various needs.
Most finance applications receive initial responses within 24-48 hours once all documents are provided, with approvals often issued faster for straightforward applications.
Yes. iCREDIT works with specialist lenders who assess your current financial stability, even if you’ve had defaults or credit challenges.
Generally, you’ll need proof of income (payslips/bank statements), photo ID (driver’s licence/passport), proof of residence, and details of the purchase you’re financing.
No. Requesting an initial quote and comparison does not affect your credit file. A full credit check only happens after you choose a lender.
Most lenders offer weekly, fortnightly, or monthly repayment schedules to suit your budgeting preferences.
Yes. iCREDIT can source suitable loans for vehicles purchased via private sale, ensuring necessary checks are completed for protection.
A secured loan uses the asset (like a car) as collateral and may offer lower rates, while unsecured loans don’t require collateral but often have higher interest rates.
A pre-approval gives you a conditional loan amount before purchase, helping you budget, negotiate with sellers, and shop with confidence.
Yes — refinancing options are available to potentially reduce repayments or improve current loan terms.
The interest rate is the amount charged by a lender for borrowing money, expressed as a percentage. The comparison rate includes both the interest and most fees over the life of the loan, giving a clearer picture of the true cost of the loan in Australia.
Yes. iCREDIT can arrange a pre-approval or conditional approval before you choose a vehicle. This helps you understand your borrowing power and strengthens your position when negotiating with sellers or dealers.
While some lenders allow 100% finance, most prefer a minimum deposit of around 5–10% of the car’s purchase price. A higher deposit can improve loan terms, reduce repayments, and potentially lower interest rates.
Missing a repayment can incur late fees, negatively impact your credit score, and potentially affect future borrowing. If you anticipate difficulty, contact your lender or broker early to discuss hardship arrangements or repayment adjustments.
Many lenders allow extra repayments or a full payout before the end of the term, which can reduce total interest paid. Some lenders may charge early exit or break costs, so it’s important to check the terms before making extra payments.
Yes. Lenders typically assess employment status, income regularity and type (full-time, part-time, self-employed, casual) when evaluating your ability to repay the loan. Stable income can strengthen your approval chances.
Loan costs may include:
Application or establishment fees
Monthly or annual account keeping fees
Early exit or discharge fees
Document or settlement fees
These fees are usually represented in the loan’s comparison rate — an important figure to consider when comparing loan offers.
Using a finance broker like iCREDIT means:
Access to multiple lenders
Rate comparison
Tailored loan structuring
Assistance with paperwork
Personalised service
Instead of approaching one lender, we compare options to find a solution that fits your profile.
Have more questions? Our team is here to help you understand your options and secure the right loan for your needs.
👉 Apply online today
👉 Request a call back
👉 Compare lenders with confidence
