An overview of the finance industry
The finance industry and those associated, have suffered over the last two years. The attached article is an excellent overview of the industry and what it needs to do to recover Click here
HELP - QUESTIONS AND ANSWERS
What is the interest rate?
- Beacause interest rates change daily and are dependent on your personal profile and how best we can structure your loan, we suggest you contact us or email us or apply on line so that we can give you a better idea.
- We promise to get the best possible deal for every customer, tailoring the application and negotiating on your behalf.
- The level of interest charged reflects the level of credit risk that the Finance Supplier take on behalf of the customer, but the rate is always fair.
- We work with high credit risk customers to improve their credit rating, so that it is easier to get lower interest rates when taking out loans in the future.
- Click here to go to our interest rate calculator.
How the loans are structured?
- Provided you meet our lending criteria, you may take out one or more of the following types of loan: vehicle, marine, personal or refinance.
- Security must be provided for your loan.
- If the loan is for buying a motor vehicle or boat, then the vehicle or boat will be used as security for the loan.
- Flexible payment terms enable you to repay in a way that best suits your needs. Our interest rate calculator provides more information about repayment terms.
- Insurance and warranties can be included in your loan contract.
What can be used to secure a loan?
- In most cases, vehicles, boats or property are used as security for loans.
- Other types of security will be considered on a case by case basis.
How much may I borrow?
- Vizion Finance Brokers tailor loans to customers' individual needs. We spend time with all of our customers to make sure that they can afford the loan.
- Loans start from $1000.
Do I have to use the entire amount approved?
Not at all: we only draw down what you need and in some cases you may use the balance for cash.
How long does it take to find out if my application is successful?
Provided you supply all of the necessary information, we are usually able to give you an answer within 24 hours - in most cases with in the hour.
What will this service cost?
At Vizion we get our income from a share of the Finance companies / Banks "establishment fees" and the interest rate.
Most suppliers charge an establishment fee on a loan. All fees are included in the loan.
On occassion we will ask for an additional fee if we feel the work involved requires more than the normal investment of our time.
Regardless, we will, however, tell you in advance so that there are no surprises and you do not have to proceed with any loan if you are not completely happy with the transaction.
How will repayments be made?
Most Finance Suppliers prefer repayments are made via automatic payments or direct debits from your bank account, although there can be a payment book provided in unusual circumstances.
Can loans be paid back early?
Absolutely! Although you may be asked to pay the lender an early settlement fee if you decide to repay the loan earlier than the agreed term. If this applies to you, it would be disclosed at time of signing your Consumer Credit Contract (finance agreement).
Can I get a loan if I have a poor credit history?
- Provided you meet our Finance Suppliers eligibility criteria, then we can arrange a loan.
- Customers with credit history issues will be charged a higher level of interest by the Finance Supplier that reflects the level of credit risk that they take on your behalf - but the rate will always be fair!
- We work with high credit risk customers to provide budget advice and look at ways of improving their credit rating. This will make it easier to get lower interest rates when taking out loans in the future.
- If you are aware that you have defaults or collections on your Baycorp Credit Report, then it is better for you to have a repayment arrangement in place. Finance Suppliers look more favourably upon Customers who are pro-active in 'repairing' their credit worthiness.