Frequently asked questions
Common questions - answered
Get answers to the Finance and Loan questions you have.
Our aim as the Asset Finance Specialists is to guide you through the entire process of getting a loan. Your dedicated Finance Specialist will answer any questions that you have along the way from application to settlement.
We have complied a list of some of our most frequently asked questions and answers to help you get the answers you need to common questions. We also have our Online Chat function available (see bottom right of this screen) for you to speak to a Customer Service consultant during the hours of 7am – 9pm Monday to Friday and 8am – 12noon on Saturdays.
What happens once my finance has been approved?
Once your finance has been pre-approved, you can shop for your asset. The benefit of the pre-approval process is that it allows you to know exactly what you can afford. Once you have agreed to purchase the asset, simply let your financial specialist know, and they will contact the seller on your behalf.
What is the pre-approval process?
Here at 360 Finance we work towards a pre-approval process for you. This process doesn’t cost you anything or commit you to anything, it simply allows you to know what options are available to you to help you get finance on your vehicle.
How much money can I borrow?
The amount that you can borrow depends on a number of factors including your income, expenses, current assets, employment status, credit profile and the loan type (secured or unsecured). During our application process, our finance specialists will work with you to understand your particular circumstances and aim to get a finance pre-approval for you for the amount you need.
What personal information must I provide when I apply for finance?
All you need to get started with an application is:
- Your Driver’s License
- Two Most Recent Payslips
Your Finance Specialist will then let you know what specific information is needed for your application.
What types of loans do you offer?
We offer a range of loan types to suit any asset or situation, including:
-consumer loans for cars, boats, bikes, caravans and more
-secured and unsecured loans
-hire purchase loans
-cash flow lending
Can I refinance a current loan through 360 Finance?
Yes, we offer refinances on both secured and unsecured loans. If you have arranged finances with us previously and wish to refinance, give us a call and speak to one of our friendly finance specialists so they can find the best options for you.
I have not found a car yet. Can I still get finance approved?
Yes. Our finance specialists can help you get pre-approval on your finance before you have chosen the vehicle you wish to purchase. After your finances have been pre-approved and you have chosen your vehicle, your finance specialist will be able to finalise and settle your loan.
What is a Balloon Payment?
A balloon payment is a lump sum amount you pay to a lender at the end of your loan, after all your regular monthly payments have been made. You may choose to add a balloon payment because it reduces your monthly repayments during the term of your loan. Give us a call to speak to one of our friendly finance specialists to discuss whether a balloon payment is right for you.
Can I finance an older used car?
Yes. With access to more than 20 Australian lenders, we can help you find a low rate finance solution on new, used, vintage and specialist cars.
When do I make my first loan repayment?
Your first loan repayment is generally due within four weeks of your loan settlement. The first payment date and the subsequent repayment dates will be included in your final loan documentation.
What is the minimum loan amount?
The minimum loan amount that we offer is $2,000.
How can I calculate my loan repayments?
Your loan repayment will be dependent on a number of variables such as your individual circumstances, financial needs, and credit profile. You can use our online Loan Calculators to give you an idea on your repayments. Please remember that the loan calculator is a guide only, and your rates and term of repayment may differ depending on the lender.
Can I get a loan if I am on an age or disability pension?
Yes. A number of our lenders will provide loans to people on age or disability pensions. Our financial specialists will review your application details and source the best financial solution and lender to suit your individual needs.
Who are the lenders that you use?
As Australia’s largest online broker, we have access to more than 20 leading Australian Bank and Non-Bank lenders and more than 100 different loan products. Check out our Lenders & Insurers page for a list of our suppliers.
What is a Guarantor Loan?
Some lenders may require particular applicants to provide a loan guarantor. A loan guarantor is a friend or family member that signs a guarantee to agree to pay back the entire loan, including all fees and charges, if the applicant fails to make their repayments. The guarantor does not have rights to own the property or items bought with the loan.
Applicants who require a guarantor loan are typically those who have poor credit history, or not credit profile at all. For example, a young person who just started working may require their parents to be the loan guarantor.
Are there any fees or charges for using your service?
Yes, we are a fee for service broker. This means we do charge a service fee of up to $990, however, our aim is always to provide you the lowest total cost, inclusive of all rates, fees and charges. Your service rate will vary depending on the loan you are wanting to take out. This fee will be included in your repayments.
How long can I take my loan out for?
Our lenders offer a loan term of between one and seven years. The term available to you may vary on your individual circumstances. Speak to one of our finance specialists to find out more.
What is Proof of Residence?
A ‘proof of residence’ is a legal document that states your current residential address in Australia. Some examples include a rental lease agreement, a utility bill or a council rates notice. A ‘proof of residence’ is required by lenders to verify where you live.
Do you offer both fixed and variable rate loans?
We offer fixed rate loans. We work closely with our lenders to ensure you are granted the lowest total cost of the loan through fixed rates, fees and charges.
Can I include insurance and warranty in my loan?
Yes, you can include the cost of asset insurances, loan protection insurances and asset warranties into your total loan amount. Your insurance premium will be included in your loan amount and repaid with your loan.
Who is 360 Finance?
We are one of Australia’s largest and longest standing finance brokers. Since 2007, we have been providing customers with low rate loans for cars, light commercial, boats, caravans, motorhomes, trucks, motorcycles, equipment and machinery. In 2019, we became part of the A. P. Eagers Limited Group (APE). APE is an ASX listed company and is Australia’s largest and oldest motoring retail group. Our dedicated team of more than 60 employees work hard to find the best rate finance for you. Learn more or enquire now.
Where is 360 Finance based?
We are an Australian owned and operated company that is based in Brisbane, Queensland. We only provide our service to customers in Australia.
What will be my interest rate?
Asset Finance is not a ‘one size fits all’ product. Your interest rates will vary depending on the asset you are looking to finance, how much you are wanting to borrow, the term of the loan, and your credit profile. Our finance specialists will undertake a thorough review of your application before submitting it to the lender they believe will provide you the lowest interest rate. The lender will then determine the best interest rate they can offer you.
I’m on a student visa. Can I get finance through 360?
In some cases, we are able to help international students. All lenders will require a minimum of 3 months’ work history in order to consider you for finance. Additionally, the term (years or months) of the loan you apply for will need to be less than the time remaining on your current visa.
How do car loans work?
A car loan is a type of personal loan used to buy a new or used vehicle including sedans, SUVs, utes and sports cars. When you take out a car loan, you borrow an agreed amount of money (loan amount) from a financie (lender) for a set period of time (loan term). You will repay the amount borrowed in either weekly, fortnightly or monthly increments. These repayments will be calculated based on the amount borrowed, the interest charged, and any extra fees or charges. Your interest is determined by the lender based on a number of factors including their lending criteria and your credit profile. The advantage of using our service is that we have access to more than 20 different lenders, so we can find the right one for you.
What information do I need for my finance application?
An application for finance will begin with an initial discussion that will allow us to find out more about you, understand your needs and begin to compile information that will assist your application. This information will include your employment and residential history, the asset you are seeking to finance and some analysis of your income and expenses.
Once we have a better idea of your needs and which lender would be most suited to assist you, we will ask for documents to support your application. This may include certified copies of your driver’s licence, bank statements, payslips, rental agreements or rate notices. Each lender has different criteria, but your finance specialist will advise you during the application process if anything additional is required. Learn more about our process.
Will your process leave an “enquiry” or “hit” on my credit profile or affect my credit score?
Our initial review process does not have an impact on your credit file. Our finance specialists will carry out a thorough review of your application before submitting it to any of our lenders for pre-approval. Only once you provide documented consent for your finance specialist to submit your application to a suitable lender, will it leave an enquiry or ‘hit’ on your file. The advantage of this process is that you will have access to a range of lenders and loans and won’t be restricted to a single option, as is the case with most of the banks.
I am in a Part 9 or Part 10 Debt Agreement. Will I be able to get approval on finance?
Being bankrupt does not preclude you from being considered for finance. Speak to one of our financial specialists for more information on your options.
I have just arrived in Australia. Can I get Finance?
Our lenders require a minimum of three months’ work history to consider anyone for finance. If you are on a visa, then the term of your loan must be less than the time you have remaining on your current visa.
I’ve been declined elsewhere, should I apply again?
We won’t ever put an unnecessary credit check or enquiry on your credit profile unless we are confident that an approval will be given. With access to more than 20 lenders, our finance specialists will assess your application to determine the lender that will best suit your circumstances. Speak to one of our finance specialists to learn more.
I’m on a learner’s permit. Can I still get finance?
Yes. As long as you are over 18 years old and you meet the lender’s criteria and guidelines, you will be able to be considered for finance on a learner’s permit.
I’ve got a finance quote elsewhere. Should I still get a quote from you?
Yes. As Australia’s largest online broker, we have access to more than 20 lenders and more than 100 finance products and rates. This means we can save you time and money by comparing financial products for you, without multiple hits on your credit file. If you are looking for a competitive quote, give us a call and speak to one of our finance specialists today.
Can I get finance when buying a vehicle privately?
Yes. We can arrange finance for both privately sold and dealership purchased vehicles.
I’m self-employed with no financials. Can I get finance?
Yes. Several of our lenders offer low doc or no doc loans. Our financial specialists will be able to advise you on whether you qualify for this.
- Do you finance anything other than motor vehicles?
How long does the finance process take?
After you place your initial online enquiry with us, we will respond within one business hour to discuss your finance needs, circumstances and application details. We will then pass you on to one of our finance specialists, who will review your application and guide you through the loan process and documentation. Once you have sent back the required documentation, the finance specialist will work closely with our lenders to get your finance approved as quickly as possible. Enquiry now or learn more about how we work.
Why Use 360 Finance?
At 360 Finance, we do the running around for you. With access to more than 20 lenders, we can save you time and money by comparing finance rates, loan types and lending criteria. Our finance specialists can narrow down the best possible solution for you without multiple hits on your credit file. Learn more about How we get your best rate.