The process
What actually happens
Four steps from first contact to money reaching the seller, and the honest version of what each one involves.
- 01
You tell me what you are after
Online in about four minutes, or in one phone call. What you are buying, roughly what it costs, and how you earn your income.
No credit check at this point. Nothing you send here touches your credit file.
- 02
I work out where it fits
I match the application to the lenders whose criteria it actually meets, and tell you if I think it is a stretch.
This is where a broker earns their keep: knowing who says no before you find out the hard way.
- 03
One application, one credit check
With your consent I lodge it and run a single credit check, then approach the lenders on the shortlist.
Applying to five lenders yourself leaves five enquiries on your file. Every lender after that sees them.
- 04
You choose, and it settles
I bring the offers back side by side, you pick one, sign electronically, and the lender pays the seller.
Typically one to three business days from accepting an offer to money changing hands.
What I need
Have these ready and it moves twice as fast
None of it is needed to start. It is what turns a two day answer into a same day one.
- Photo identification: a New Zealand driver licence or a passport
- Three months of bank statements, or a read only bank feed
- Two recent payslips, or last year accounts if you are self employed
- The listing, quote or invoice for what you are buying
- For a business: the New Zealand Business Number and recent financials
What it costs
Where my money comes from
Worth being plain about, because a broker who is vague about this is telling you something.
On most consumer lending the lender pays me a commission when a loan settles. You will be told what it is before you sign anything, because I am required to disclose it and because you should know.
The part worth understanding is that across this market a broker's commission and your interest rate are connected. That is exactly why I go after the sharpest rate I can get you rather than the one that pays me best. Somebody on a good rate rings me again for the next vehicle, and the one after that. Somebody who works out later that they were put on a higher rate to fatten my commission does not ring again, and they tell people. The long game is the only one worth playing here.
On some commercial facilities a broker fee applies instead. If that is your situation I will tell you the amount before I lodge anything, never afterwards.
Talking to me costs nothing, and finding out what you can spend costs nothing. There is no fee for deciding not to go ahead.
Questions
About applying
How long does an application take?
A pre approval is usually back within one business day, and often the same day if we have everything we need. From accepting an offer to money reaching the seller is typically one to three business days, depending on the lender and on how quickly the seller can provide their details.
Can I get finance before I have found the vehicle?
Yes, and it is the better order to do it in. A pre approval tells you exactly what you can spend and what the repayments look like, so you can negotiate as a cash buyer. Pre approvals normally hold for 30 to 60 days depending on the lender.
What do you need from me?
Photo identification, three months of bank statements, and proof of income, which is two recent payslips for most people or last year accounts if you are self employed. If you have already found the asset, send us the listing or the invoice as well.
Can I buy privately or at auction?
Yes. We arrange finance for purchases from dealerships, private sellers, auction houses and Trade Me. For a private sale we pay the seller directly once the security check on the asset comes back clear, which protects you from buying something with money still owing on it.
Find out what you can spend
It takes a few minutes to apply and it does not commit you to anything. Ring me or start online, whichever suits you better.