Applying for an Online Loan

With the provision of online loans applying for finance through Yes Loans has never been easier.

When applying for a new or used car loan you need to decide on a payment that is easily affordable. At Yes Loans, we are committed to giving you access to online loans that are cost effective and simple to obtain, subject to the lenders credit criteria.

Once you have done your budget and worked out what you can afford to pay on your car loan, you can start looking for cars that fit with in your budget. A good idea is to also arrange your car loan before you go looking. Getting a pre-approval for your car finance allows you to choose a new or used car within your budget.

  • You won't overspend when choosing your car, boat, caravan or motorbike,

  • You'll be in a better position to negotiate a good deal,

  • You'll go in knowing your repayments and what you can afford.

How to Apply for an Online Loan

You can apply online, over the phone or in person. Either way you will need to supply some personal and financial information to the broker or lender. They will able to give you an idea on whether your loan will be successful subject to confirmation of the details you have provided. Providing that information should only take 10 to 15 minutes and in most cases can be done online.

What Type of Loan You'll Need

For personal use the most popular loan is a secured loan where the car or the motor vehicle is used as security for the loan. This method is the most common way of financing a car as the interest rate for a secured loan is usually at a lower rate than an unsecured loan.

A secured loan allows the lender to take security over the car or goods until the loan is paid off. The loan can usually be paid weekly, fortnightly or monthly. You may have a loan that has a balloon payment or residual. This means that is a large sum outstanding at the end of your loan. This is a deferred payment or final payment that is due at the end of the loan. This can result in lower regular payments, but on the down side will result in a higher amount of interest on the outstanding balance. You also have a large final payment to make if you wish to own the car.

If the car loan is for business use you can choose to Lease, Hire Purchase or use a Chattel Mortgage to purchase the car. We discuss these options under business loans.

How Long Can My Repayments Be?

Car loans and unsecured personal loans vary between one and seven years. Paying off a car loan over one year will mean the repayments will be high and the interest expense lower. A loan or car finance over seven years the repayments will be lower but the interest amount higher. Ask if your loan has repayments that are flexible so you can pay extra if you wish to. Some finance and personal loan companies will let you have a payment holiday if your repayments are in advance.

Interest Rates

The interest rate you are offered will depend upon whether the loan is secured or unsecured and your personal credit worthiness. The better your credit or the greater your ability to repay the loan, the chances are that you will be able to get a lower interest rate. This is a good reason to get a pre- approval for your car loan before deciding on the car you wish to buy. You may be offered a loan by the dealer at a higher rate than you could get having a car loan broker like arrange your loan.

Some lenders will be able to offer you a fixed interest or a variable interest rate. You should consider the length of the loan term and the interest rate environment before deciding. Both options have their benefits and pitfalls. Lenders and brokers will quote an interest rate and a comparison interest rate.

The comparison interest rate takes into account an example of a similar loan and factors in the various fees that are payable.

You should not only compare the comparison rate but also the loan features as well. The repayments for a loan with a lower interest rate may actually be more than a comparable loan with a higher interest rate but lower ongoing fees.

Online Loans - Fees and Charges

Loan and finance companies and brokers can charge a range of fees. You should always check your credit contract with will outline all fees and charges.

Establishment Fee

Lenders will sometimes charge a fee to establish the loan which is usually added to the loan amount.

Origination Fee

Most dealers and brokers will charge an origination fee. This is a brokerage or dealership charge.

Ongoing Fees

Some lenders will charge a monthly or fortnightly fee called an account keeping fee.

Early Exit Fees

Some lenders will charge you a fee to exit or finish a loan early. You should always ask what the exit fee is and how it is calculated. The longer the loan runs the less the early termination fee will be.

Late Payment Penalties

Most lenders will charge you a late fee if you do not pay on time.

Documents You Will Need to Provide:

Identity: usually a current driver’s license and a medicare card or credit or debit card.

Proof of residence: a phone bill or bank statement with your current address. A power or water bill could also be used.

Confirmation of income: This is done with a pay slip.

Assets and liabilities: details of what you own and what you owe.

Individual lender requirements will vary


  • Bank or savings accounts

  • Managed funds

  • Term deposits (if applicable)

Statements from:

  • Credit cards

  • Personal loans

  • Mortgage

If you prepare and gather all of these documents prior to making your loan application you will be able to speed up the process.

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."

  • "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."

  • "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."

  • "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."

  • "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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