Frequently Asked Loan Questions
What does NLS have to offer?
Competitive insurance, finance, hire purchase and leasing for cars, trucks, vans, boats, office equipment, machinery, tractors, equipment, caravans, motorcycles, business furniture & fittings, and more.How much can I borrow?
You can borrow as little as $2000 for a personal loan. The maximum amount depends on your situation and what you are borrowing for.
How long is the loan for?
This varies depending on what you are borrowing for and how long it suits your budget. Loan terms for car and personal loans can range from 1 to 7 years. Home loans are up to 30 years.
How long does it take to apply?
Not long at all. To complete an online application could between 10 – 15 minutes. You can do this online, over the phone one of our enthusiastic consultants, or drop in to our office.
How long does it take to get approved?
Usually just a few hours, however complex or difficult applications can take a few days. Once approved original finance documents must be signed and the supplier will be paid directly usually within 1-2 days. NLS will notify you by phone, email or mail depending on what suits your needs.
Can I get my loan approved before purchasing?
Yes, providing you can give us an idea of what you're intending to purchase. Getting pre-purchase approval before you go shopping is a good idea, allowing bargaining power on the showroom floor. NLS needs to assess the total amount of finance against the current market value of the item. We must also approve your supplier, as there are many fraudulent vendors in the market place.
Are your interest rates competitive?
National Loan Solutions we pride ourselves on providing the best interest rates we can combined with loan products that meet our clients needs. Our goal is to provide you the best service, prompt turnarounds and the most competitive deals in Australia. As such, we consistently monitor current interest rates. We challenge you to try & find a better deal. However, the interest rate offered may vary by several per cent depending on a number of factors such as your credit profile, the age of the asset you are financing and the amount you are wishing to finance. Contact us and get a quote now, then compare us with the banks and other lenders.Can I buy a car privately? Can I buy from a dealer?
Dealer, auction, private sale and re-finance are welcome. Some used vehicles may require a vehicle inspection prior to payment - please discuss with our staff prior to purchase. Call National Loan Solutions before buying your new car – we have access to huge discounts on most new cars.
Do I need to provide anything with my application?
Send us the completed and signed application pages. If self employed or applying for business finance (hire purchase, chattel mortgage, or lease) please return application together with your most recent financial statements/tax returns, payslip, and/or group certificates. This extra information will speed up your assessment & may also allow you to qualify for a discount on interest rate based on that information.
On settlement some of the following may also be requested before finalising:
- Payslip or letter from your employer
- Bank account details for direct debit
- Proof of home ownership
- Formal identification
- Comprehensive insurance policy
- Drivers licence (with correct addresses)
- Rent receipt (if your renting)
- Company common seal (if a company)
When do I make my first payment? Can I make extra payments?
The first repayment will be due 14 days (if fortnightly) or one month (if monthly) after settlement of a personal loan. Business finance applicants have the first monthly repayment due on the day of settlement. Remaining payments are deducted from your nominated bank account. Extra payments of any amount can be made at any time by cheque, cash, direct deposit and BPAY where applicable (some fees may apply).
Are there any application costs?
The National Loan Solutions deal with a large panel of lenders, therefore the monthly or ongoing account keeping fees may vary. Furthermore, the amount financed and which state of Australia you live in, also effects the set up, approval and/or establishment of your loan.
Contact us to get an exact quote
There is no fee if National Loan Solutions does not approve your application.
Have more questions?
Contact us now. Our refreshingly enthusiastic staff will be happy to help.
