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 $60,000 and the minimum is $5,000.
Our business loans start from $5000.
Can I get pre-approval on a loan application?
Yes, if you receive pre-approval on your loan it is valid for 30 days.
What is a credit rating?
Banks and other financiers will use a credit score to help determine whether they will lend you money. 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.
Can Yes Loans help me get finance or a car loan if I have had credit problems in the past?
Yes, subject to meeting lending criteria. At Yes Loans, we are experienced at helping people with previous bad credit.
Does Yes Loans have access to unsecured loans?
Yes, at Yes Loans we have a number of financiers that will lend on an unsecured basis.
I’ve been declined elsewhere, should I try applying with you?
Yes! We strive to say yes more often. Our team is specially trained and 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.
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.
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.
Do I have to insure my car?
Yes. It is a mandatory requirement to keep your vehicle comprehensively insured for the full period of the finance agreement. When you finance your car with Yes Loans, we’ll take the time to offer you competitive rates. What’s more, we ensure that your cover is comprehensive. Alternatively, you can shop around for car insurance from your insurance company.
What is an ‘excess’?
An excess is an agreed amount of money that you are liable to pay in the event of a car insurance claim being settled.
How old must I be to apply for a loan?
You must be at least 18 years old to apply for a loan from Yes Loans.
Are the loans fixed or variable interest rate loan?
Our interest rate is fixed for the term of your loan, this means you will not see any interest rate rises.
Can I make extra payments or repay my loan early?
Absolutely. In most cases, there are no extra charges for making additional payments or lump sum deposits into your loan. However, we always recommend reading your credit contract first, as early repayment terms are subject to the lenders conditions.
What is a commercial loan?
A commercial loan is an arrangement between your business and a financial institution that is used to fund goods, plant, equipment or vehicles used for commercial purposes. We regularly provide finance solutions for:
What kind of insurance do you offer?
Yes Loans offers insurance for sickness and accidents, your car, gap or shortfall insurance, warranties and loan protection. Our team is always on hand to explain our insurance in detail. Get in touch with them today for more.
How do I know how much my repayments will be?
Use Yes Loans’ simple, efficient Loan Calculator to work out what your repayment options could be, based on loan approval. Remember the calculator is a guide only. It’s as easy as one, two, three!
Our current lowest rate is 4.45%^
Loans can be arranged for a minimum and maximum repayment period between 2-7 years.
Example of a typical unsecured consumer fixed rate loan
$20,000 (includes a $990.00 origination fee) loan at an interest rate of 10.99% p.a. (10.99% p.a. comparison rate*) over 5 years.
Repayments are $434.75 per month over 60 months ($100.33 per week).
Total repayment over 5 years: 60 x $434.75 = $26,085.
The interest rate is indicative only and may vary according to the lenders assessment.
^Now Finance Personal Loan rate. For approved applicants only.
*The comparison rate of 10.99% p.a. is based on an unsecured consumer fixed rate loan of $20,000 over a term of 5 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
The National Consumer Credit Protection Act 2009 (NCCPA) requires that all lenders that publish interest rates for a product also publish the comparison rate. The comparison rate aims to inform the consumer of the true cost of a loan and is designed to make it easier to compare the different credit products available in the market. A comparison rate does not include all fees and costs, eg Government fees and charges and will not include other factors that may make the loan more attractive, eg flexible loan arrangements..
Thomas helped me with my loan and explained every step and made it very simple he was very helpful and happy to help me get my loan as quick as possible I am very happy with his service and would highly recommend him.
James was amazing. He helped me along every stage of the process making my journey to getting my new car so simple and stress free. He took care of everything and with a credit history that is less than perfect I am over the moon to be given a second chance to buy my dream car. Thank you so much James, I couldn’t have done it without your professional service!!!
James B was absolutely amazing and such a pleasure to deal with! He kept me updated on the whole process and what I thought was going to be a headache turned out to be a breeze. I cannot recommend him enough – managing to get me in my dream car in such a short time! 10/10
Dealt with specifically by Logan and have had plenty of leverage for options obtaining car finance with my circumstances and has been clear about what I may or may not expect moving forward to achieve this.
I just want to say Reolan from yes loan has been a great help in getting the car that I like, I’m getting a car from a private seller.
Reolan has been helping me a lot from the first day I called him until I found my dream car the process went quicker than I thought, he even reply me on the weekend and kept me well informed.
