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We guarantee you the lowest Low Doc interest rate or we will give you $500.
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No Doc Replacement Vehicle Policy
 Where an application is received for a replacement car being supplied by a Licensed Dealer, provision of financial statements will not be required in the following circumstances:-
- Where the Purchase Price is for no more than 20% above the original cost of car to be replaced, and
- Where Existing Credit has been in place for a minimum of 18 months and with a good history (i.e. No dishonours, all payments made on time).
Must supply current account number and the name of the finance company so a reference can be obtained.
If an unsatisfactory reference is received customer will be contacted and asked to supply the full financials and reasons as to why payments have been missed.
Does not apply where leasing exposure is greater than $100,000 or for private sales and sale and hire/lease backs.
In 2010 this replacement policy has also been extended to include:-
- Utilities and Vans
- Bobcats,bulldozers, and excavators
- Low Doc replacement for trucks and commercial vehicles. Low Doc Truck loans do not include Prime Movers
- Trailers
Remember, the contract to be replaced may be current or recently paid out (no more than six months prior) and been held with a major finance company or bank.
Above are subject to lenders terms and conditions.
Balloon
and Residual Refinancing
The closing of Suncorp, GE, GMAC, and Ford Credit (retail sector) in the motor vehicle finance market has raised some concerns among their clients wishing to refinance their residual values and balloons.
A number of these exiting financiers are keen to reduce their loan book as quickly as possible and are even offering favourable early payout calculations to clients wishing to terminate their loans.
We would like to assist you get through this transitional period, and are pleased to offer the following streamlined methods of when refinancing passenger vehicles of the mentioned financiers:
Refinance
of Residuals/ Refinance of Balloons
- Clear
history with current lender for a minimum of 18 months
- Clear Veda
report
- AML/CTF
compliant application
- Signed
& Dated Statement of Assets and Liabilities at
settlement
- No
financials
- No Inspection
- Maximum amount $100,000
- Maximum Total Exposure in Leasing $150,000
Refinance of Early Payout
- Refinance
only to be considered if the contract is inside the last 12 months of the
original term.
- Vehicle
Pricing to be acceptable (confirmed via Glasses Guide)
- All other
conditions as per above
As always a lender reserves the right to require that a full application with up to date financials
be submitted if requested.
The above is a guide only.
“Helping you choose wisely”
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