FAQ

Yes Loans is committed to helping you find the finance you need to achieve your goals, whatever they may be - subject to affordability and suitability. Part of that is making sure you’re provided with all the facts you need to make an informed decision. Browse our frequently asked questions to find the answers to the questions you want to ask.

Car Loans

What is a car loan, and how do they work?

A car loan is a personal finance product that provides you with the funds you need to purchase a vehicle. The loan is secured against the vehicle, and at the end of the contract the car is yours.

Can I obtain a loan for vehicles for business or commercial use?

Yes you can apply for a vehicle loan if it is for business or commercial use. You can even apply for a Low Doc Business Loan.

Can Yes Loans finance private sale vehicles?

Yes, and as part of our service to you, we will check to see if the car has been written off, stolen, or has money owing on it. All this at no charge to you.

Can Yes Loans help if I buy from a car dealer, but do not want to finance with them?

Yes, there is no obligation to obtain finance through the dealer.

Can Yes Loans help me get finance or a car loan if I have had credit problems in the past?

In many cases, Yes! At Yes Loans we are experienced at helping people with previous bad credit.

Does Yes Loans finance used cars?

Yes! We finance both new and preowned vehicles.

Do I have to insure my car?

Yes. It is a mandatory requirement to keep your vehicle comprehensively insured against third-party claims, and against loss or damage, for the full period of the finance agreement.

Who must I insure my car with?

When you finance your car with Yes Loans, we’ll take the time to offer you appropriate policies with competitive insurance rates.

Leisure Finance

What is a leisure loan?

A leisure loan is finance borrowed from a lender that you can use to purchase vehicles or equipment that you use in your leisure time.

What can I purchase with my leisure loan?

There are a host of assets you can purchase with your leisure loan. Examples include motorcycles, boats and caravans.

What is a secured leisure loan?

A secured leisure loan allows the lender to hold the leisure vehicle you’re purchasing as collateral or security against the loan. This protects the lender in the case you are unable to make the due payments but also means you may get access to lower interest rates than an unsecured loan.

Can I get pre-approval on a leisure loan?

Yes. Simply complete our hassle-free online process and you’ll get a fast response from one of our Perth-based brokers.

I’ve been declined elsewhere, should I try applying with you?

Yes! We say yes more often, and for the right reasons. Our team is on hand to assist you in getting access to the funds you need. Get in touch with us today and find out how we can help you.

How competitive are your rates?

We have built long-lasting relationships and ties with a panel of lenders that have bank-beating interest rates. Even if you have a less than perfect credit history, we may still be able to help. We work to the best of our ability to bring you the best possible rates.

Can I get a leisure loan if I've just started a new job?

This depends on the details of your current work status, work history, credit history and your financial situation. There are a number of factors involved in the application process, however we do say Yes more often. Our loan consultants will work to the best of their abilities to assist you. Get in touch with them today.

If I have bad credit, can I still get a leisure loan?

Each situation with bad credit is different, and we do our best to help you get the finance you need. Contact us today and find out what we can do for you.

Personal Loans

What is a personal loan?

Personal loans are available as secured or unsecured loans that an individual can take out to meet their financial needs. They are based on your credit history and your financial situation, which is your ability to repay the loan.

How can I apply?

To apply, simply click on this link or get in touch with our loan specialists and they will assist you.

What can a personal loan be used for?

Personal loans can be used for almost any reasonable purpose from renovating your house to financing a wedding.

How much will I pay?

The rate that you will pay is based on how much you want to borrow and your individual circumstances.

How much can I borrow?

It all depends on your income, the reason for the loan, expenses, and the amount you can comfortably repay. The maximum unsecured personal loan is $30,000 and the minimum is $4,000.

Can I make extra payments or repay my loan early?

In most cases there are no extra charges involved in making additional repayments or repaying your loan early, but we do recommend you read your credit contract to be sure. Depending on the agreement with the lender, you could make extra repayments.

Do I need to provide security or a guarantor?

Security and guarantors may be required for some loans, in the event that you default on the loan, the goods secured can be sold (secured loan) or the guarantor asked to pay it off (guarantor loan). For guarantor loans, we recommend the guarantor obtains prior independent legal advice to make sure they are aware of their rights and obligations.

Commercial Loans

What is a commercial loan?

A commercial loan is an arrangement between your business and a financial institution that is used to fund major capital expenditures or cover operational costs. The loan must be used for predominantly business purposes.

What is collateral?

Collateral is any asset or group of assets that can be offered by you as security against non-payment of a loan. In the event of a default, the asset will be repossessed off set the loan balance. Any remaining loan balance will still be the responsibility of the borrower.

Can I get a business loan after bankruptcy?

A bankruptcy in your past doesn’t necessarily prevent you from getting a small business loan. Contact us today and our loan consultants will assist you.

Is there a minimum amount I can borrow?

Yes, business loans start from $5000.

Does my loan have to be for a particular use?

The panel of the lenders we work with are usually happy for you to use the proceeds of the loan for any business-related purpose as long as it is legal. We regularly provide finance solutions for:
- General equipment
- Company cars or commercial vehicles
- Cash flow
- Shop fittings or new technology
- Loan refinancing
- Debt repayment
- Trucks

What information is needed to begin the loan process?

The easiest way to begin the process is to simply fill out our online application by clicking on the apply button or contact us, and our experienced customer services team will assist accordingly.

Insurance

What is insurance?

Insurance is an arrangement by which a company provides you, the policyholder, with the guarantee (subject to policy terms, conditions and limits)of compensation or financial protection of an asset against specified loss, damage, illness, or death in return for payment of a specified premium.

What is an ‘excess’?

An excess is an agreed amount of money that you are liable to pay in the event of an insurance claim.

What kind of insurance do you offer?

Putting law aside, insurance is a critically important product. It helps protect you, your finances, home, lifestyle and ultimately, gives you peace of mind knowing you will be able to afford any damages you may incur in the unlikely event of an accident. This is of course subject to policy terms, conditions and limits.

Why do you need auto insurance?

Putting law aside, insurance is a critically important product. It helps protect you, your finances, home, lifestyle and ultimately, gives you peace of mind knowing you will be able to afford any damages you may incur in the unlikely event of an accident. This is of course subject to policy terms, conditions and limits.

How much insurance do I need?

As an experienced finance provider who has worked with countless clients, the truth is that the amount of insurance and even the type will vary from individual to individual. It may even vary depending on the stage of life you are currently in which is why we always recommend taking the time to discuss your needs so our team can provide insurance options in order that you can decide what is right for your personal situation.

What is the difference between a repairable and a statutory write off?

A repairable write off is when your insurance provider decides that it is too costly to repair because the cost to repair is close to or exceeds the market value of your car. In this case, it makes more sense to pay you for the market value of your car. On the other hand, a statutory write-off is when your car is damaged beyond repair.

What determines my premium?

There are a number of factors that contribute to how much you pay for insurance. These include:
- The make and model of the car you drive
- How much you drive and your driving record
- Age and gender
- The area you live in

Common Questions

What is the minimum loan amount I could borrow?

$4,000

How long are the average loan terms?

Up to 7 years

How long is my Yes Loans quote valid for?

30 days

Can I get pre-approval on a loan application?

Yes! If you receive pre-approval on your loan is it valid for 30 days.

Credit Related Questions

Can I get pre-approval on a loan application?

Yes! If you receive pre-approval on your loan is it valid for 30 days.

Are the loans fixed or variable interest rate loan?

The interest rate is fixed for the term of the loan, so no interest rate rises.

Where is Yes Loans located?

Our head office is located at 263 Albany Highway, Victoria Park, Western Australia, WA 6100

How old must I be to apply for a loan?

You must be at least 18 years old to apply for a loan.

General / Other Questions

Where is Yes Loans located?

Our head office is located at 263 Albany Highway, Victoria Park, Western Australia, WA 6100

How old must I be to apply for a loan?

You must be at least 18 years old to apply for a loan.

What is the minimum loan amount I could borrow?

$4,000

How long are the average loan terms?

Up to 7 years

How long is my Yes Loans quote valid for?

30 days

Can I get pre-approval on a loan application?

Yes, if you receive pre-approval on your loan it is valid for 30 days.

Are the loans fixed or variable interest rate loan?

The interest rate is fixed for the term of the loan, so no interest rate changes.

Does Yes Loans have access to unsecured loans?

Yes, we have a number of financiers that will lend on an unsecured basis subject to their lending criteria.

I am living in WA on an overseas visa - can I apply for a loan?

Yes, but the loan term can only be for the remaining term on your visa (e.g. If the visa is for 5 years and you have already been here for 18 months, then the maximum loan term is 3 years).

Do I need to have a deposit ready when I'm applying?

Often no, but our lenders criteria can be different. A deposit may be required depending on previous credit history or the value of the goods being financed.

Does Yes Loans provide loans to self-employed or contractors?

Yes, we have low doc loans available to self-employed and contractors that have an ABN number.

Does Yes Loans have access to other finance besides car loans?

Yes, we have access to boats, trucks, caravans, plant, equipment, computer, motorcycles and personal loans. These loans can be used for personal or business use.

What is a credit rating?

Banks and other financiers will use a credit score to help determine what level of risk your present which determines the interest rate that will be charged. Your credit score is partly determined by your stability (how long you have been at your address and employment). Defaults, court writs and summons also have a negative impact on your rating. The number of enquiries you make will also impact your credit score. The more enquiries over 12 month period can lower your score.

Can I obtain a loan for vehicles for business or commercial use?

Yes you can apply for a vehicle loan if it is for business or commercial use. You can even apply for a Low Doc Business Loan.

I am living in WA on an overseas visa - can I apply for a loan?

Yes, but the loan term can only be for the remaining term on your visa (e.g. If the visa is for 5 years and you have already been here for 18 months, then the maximum loan term is 3 years).

Do I need to have a deposit ready when I'm applying?

Often no. A deposit may be required depending on previous credit history or the value of the goods being financed.

Does Yes Loans have access to unsecured loans?

Yes, we have a number of financiers that will lend on an unsecured basis.

Can Yes Loans finance private sale vehicles?

Yes, and as part of our service to you, we will check to see if the car has been written off, stolen, or has money owing on it. All this at no charge to you.

Does Yes Loans provide loans to self-employed or contractors?

Yes, we have low doc loans available to self-employed and contractors that have an ABN number.

Does Yes Loans have access to other finance besides car loans?

Yes, we have access to boats, trucks, caravans, plant, equipment, computer, motorcycles and personal loans. These loans can be used for personal or business use.

Can Yes Loans help if I buy from a car dealer, but do not want to finance with them?

Yes, there is no obligation to obtain finance through the dealer.

Can Yes Loans help me get finance or a car loan if they have had credit problems in the past?

Yes, at Yes Loans we are experienced at helping people with previous bad credit.

We say YES more often APPLY NOW

Our clients say
our clients say
  • "Thank you for all your help with processing the loan and keeping me up-to-date on the progress. We have utilised ‘Yes Loans’ twice and are completely amazed with the process and ease that you present to your customers. **It has been a delight dealing with yourself and ‘Yes Loans’ and will not hesitate to recommend your business to all that I come across. **It can be quite daunting at times applying for a loan and I can tell you that your customer service skills far outweigh any company I deal with on a day to day basis."

    Adam F - April, 2015
  • "I would like to thank you again for a relatively painless process in getting the funds sorted for us, working away makes such things difficult and usually means taking time off work to organize. I will recommend Yes Loans to all that want to listen, thanks again"

    Tony K
  • "Thank you very much for your help much appreciated"

    David S
  • "Thanks Chris for all your help. I haven't purchased a car for a while, let alone taken out a loan. Your clear, concise information made the whole process so much easier. What's more you cared! Each step of the way you checked in with me to make sure I understood where the process was at and that I was happy with how things were moving. I have worked in the retail and service industry for decades, so I understand what should happen during any transaction. Chris and Yes Loans tick all the boxes. "

    Dean H - June 2015
  • "on behalf of my wife Hazel and myself , I would like to thank you for all your help and good advice you gave us regarding the purchase of our new car , using your company “Yes Loans” for finance. Most people will be able to tell you of a bad experience relating to car finance but ours was totally the opposite. From start to finish we were made to feel very comfortable about the whole process, and able to understand all the facts and figures. It was a surprisingly pleasant experience and did not drag on for hours. Completing all the paper work on the initial visit made things even easier, and not having to return on multiple occasions was a bonus. I would have no hesitation in recommending you and your company to any of my family or friends should they require finance for their own purchase."

    Derek E - June, 2015
  • "Tony and all the staff at Yes Loans provided exceptional service, which led to me choosing their product over the competition. My circumstances were complicated with 2 sales falling over before the final one was made. Thanks to the keen attention to detail by Yes Loans staff, I was alerted to fraudulent activity by a seller, in time to call the deal off. Finally, Tony managed to achieve settlement in a short period of time and provide a very competitive interest rate for my dream vehicle. The communication I received from Tony and Colleagues was prompt and professional and I will not hesitate to refer them on to my family and friends."

    Gabriel - June 2015
  • 'Hi Darral I couldn't thank you enough for the whole process of sale. You went over and **beyond the call of duty** especially when we've both been playing phone tag with each other. Customer service is everything and from a previous sales and marketing manager background I could not fault you any where. I've always stuck to the rule of 10....1 person tells 10 people on there experience and those 10 people tell another 10 people and so on and so on. I'll highly recommend you to friends and family that are looking for vehicles in the future. Once again thank you. "

    Gavin J - July, 2015
  • "I picked the car up yesterday afternoon and I just wanted to say thank you so much for all the time and effort you put into helping us get it. The car is just awesome and that you put it through as a business vehicle so I can claim it come tax time makes you an absolute legend. Again, thank you very much."

    Lissa
  • "We have used Yes Loans now several times for our Car finance, this being our 4th transaction that they have helped us with and every time it has been such a pleasurable experience, **very easy and smooth transaction with no hassles and quick service. ** We definitely will be back again. Thanks to Daniel for such professional and fast service."

    Maria & Rob - June 2015
  • "Thank you so much, the car was exactly my dream car thank you."

    Melissa
  • "Thanks very much for your help in finding me a loan. I will indeed enjoy my car! I will be sure to recommend you to anyone who asks."

    Simon I
  • "Hello Steve, I’d Like to point out an exceptional employee you have working for you Nathan Hanna. From our first contact Nathan has conducted himself in a professional & highly proficient manner, I felt extremely confident with the service he provided and finding a solution to an issue with my vehicle being a grey import. Which many finance company’s don’t touch, Nathan found a financier which I’m very grateful. The whole experience has been a pleasure your company certainly raises the bar in customer service which you can’t get from other companies. Nathan is a real credit to your team. I will most definitely be recommending Nathan & your company to others."

    Mike B - Sept 2015
  • "Your service and support has been nothing but outstanding. We are so happy with our van, and we will spread the word around if we know anyone is after finance."

    Stuart
  • "A big thank you to Tony Williams at Yes Loans for the **great service in the last week making my dream of having a new car a reality.** Within one week of deciding to buy a new car Tony had the finance organised and I had my new car a week later. Very professional and efficient service from Yes loans. Thanks you very much. "

    Susanne De - July, 2015
  • "Thanks for all your help. You handled everything very efficiently and professionally. Made my life and part in all this very easy. Thanks again and all the best to you."

    Tony
  • "The service provided by Yes Loans was better than any other loan institution or bank I have worked with. What they promised they delivered and it was done professionally and with a sense of urgency and customer service that few banks could match. I have been a long term customer of a bank and had numerous loans with them for houses, cars and home improvements for a period of fifteen years. Despite an excellent credit history, my last effort to get a small loan to re-finance a car took over two weeks to process. Then having approved the loan, the bank made my life difficult by asking for endless changes to paper work, pay slips and bank details because of the time they took to process the loan. In frustration, I rang Yes loans. Within 24 hours the process was all but complete. There was a minor issue with setting up a new account to handle the funds, but this was no problem. Daniel at Yes Loans patiently helped me out and made the process easy, so that the funds were able to arrive as soon as the new bank account was set up. I am grateful for the professional way in which my business was handled and have no hesitation in recommending Yes Loans to anyone in need of a loan." Thanks Grant for your feedback!

    Grant - Feb 2015
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