What do I need to provide with my application?
If you are self employed or applying for business finance (hire purchase, chattel mortgage, or lease) please return the application together with your most recent financial statements/tax returns, payslip, and/or group certificates. This extra information will speed up your assessment.

What if I’ve got a bad credit rating?
Ex-bankrupts or those with high risk, bad credit ratings, may try the 2nd chance loan option. This is more lenient in relation to approval, generally however it is a higher interest rate to cover the higher risk.

What is the chance of getting an approval?
At iLoans we have to consider things such as: do you own a home, what is your current income, have you ever been bankrupt, how long have you been at your current job, how long have you lived at your current address, what is your credit rating, what is your net worth, etc. We will look at the security over the loan, your current debt level, your income, and your ability to repay the debt. We can then determine how much money you can borrow. You can do the sums yourself to figure out your monthly budget. Simply deduct your expenses from your after-tax earnings.

How long does it to take to get approved?
Usually just a few hours, although more complex 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.

Should I get personal or business finance?
Business finance (hire purchase, chattel mortgage or leasing) is available to both companies and individuals, providing the goods are to be used mainly for business, i.e. more than 50% business usage. For example when buying a car, taxi drivers, mobile sales reps, couriers, etc could qualify for lease or hire purchase. An office worker driving to and from work would not qualify. Call us at ILoans or speak to your tax adviser. Business finance is usually a lower interest rate and there are many structures available to maximise your tax benefits.

Can I buy privately? Can I buy from a dealer?
Dealer, auction and private sales are welcome. Some used vehicles may require a vehicle inspection prior to payment – please discuss with our staff prior to purchase.

Can I apply to lots of different lenders?
You may apply as often as you like, but it is not a good idea. Financial institutions look at your record when assessing your application and will see how many times you have applied. They will be suspicious of why you haven’t received a loan (regardless of the reason) and this will make it harder for you to be approved in the future. It is best to apply once and be approved.

Should I look for my boat, car, carvan etc first and then apply for a loan?
It is always a good idea to get pre-approval for finance first, so that you know how much you can borrow and how much your repayments will cost each month, before you go shopping for your dream. This way you will be able to shop within your limits and it also gives you more bargaining power.

How much can I borrow with an secured personal loan?
Minimum loan is $5,000. The finance will be secured on your purchase at a fixed interest rate that will not go up over a 3 to 5 year term. iLoans also provides a 2nd chance finance service for people with bad credit or people having difficulty getting a loan.

How much can I borrow with an unsecured personal loan?
Minimum loan is $3,000. Suitable for holiday loans, debt consolidation, furniture, and for general purpose use. The interest rates offered are either fixed at a competitive rate or a variable interest rate allowing you to take advantage of possible interest rate drops.

Do you have competitive interest rates?
iLoans will consistently monitor interest rates to maintain the most competitive deals in Australia. However, the interest rate offered may vary depending on whether you are a high or low-risk borrower. Contact iLoans for a quote now.

Is it difficult to apply for a loan?
Applying for a loan through us is not difficult at all. We will help you every step of the way. Feel free to give us a call.

What does iLoans have to offer?
Competitive finance, hire purchase and leasing for cars, trucks, vans, boats, office equipment, machinery, tractors, equipment, caravans, motorcycles, business furniture, fittings, and more.

Why should I apply to a broker not directly through a bank?
When you apply through iLoans you help us to understand your individual circumstances so that we can access our large choice of financial lenders to find a loan tailored to suit your needs. We also guide and assist you through the whole process, making it as easy as possible. We are on your side and here to help.

How do I apply for a loan?
All you need to do is to complete the application form. Once you submit the application one of our friendly consultants will contact you to discuss your application within 24 hours.

How much can I borrow?
The minimum loan amount is $5000. The maximum loan amount depends on your circumstances and your ability to afford the repayments.

What is the normal loan term?
Most car and personal loans are taken over a 1 to 7 year period and home loans are taken over a period of up to 30 years.

What are the interest rates?
We work hard to secure you the lowest interest rate possible for your circumstances. Interest rates are however derived by each individuals circumstances so please contact us for an idea of what interest rate will apply to you.