As a Brokerage WA client, Provident Lending and Business Solutions will ensure you will receive priority service focused on ensuring you obtain the right loan to suit your needs and financial situation. At the outset we want you to know this is not a quick process. Applying for a car loan (or any loan) is now more detailed and thorough than ever before. It is essential we obtain the full accurate facts relating to you, your credit situation and history. This is the only way we can offer total transparency when submitting your loan application to the selected financier. It is to your benefit we take time and care over your loan application. A loan rejected for lack of detail works against your credit standing.

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PLEASE TAKE TIME TO READ THE FOLLOWING – IT WILL HELP YOU IN SELECTING A BROKER WHO CARES FOR YOUR OUTCOME

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STEP BY STEP LOAN APPLICATION PROCESS

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Sign the Privacy Form – this is required by law.

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The Privacy Act 1988 (Privacy Act) regulates how personal information is handled. The Privacy Act defines personal information as:…. information or an opinion, whether true or not, and whether recorded in material form or not, about an identified individual, or an individual who is reasonably identifiable.

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Common examples are an individuals name, signature, address, telephone number, date of birth, medical records, bank account details and commentary or opinion about a person.

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Complete the FACT FINDER. This sets out the basics of your details and the proposed loan. It is not the full application however a lot of detail is the same so completing it now saves time later. It ensures our QUOTE is based on your circumstances and allows us to examine some of the options open to you as offered by different financiers.

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Provided a detailed QUOTE. This document is the real start of the loan application. Here we set out full details of our organisation, your primary contacts and the basis under which we conduct the business. Additionally, you will see all charges, fees, costs and a number of different offerings (quotes) from finance companies broken down into monthly payments.

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Complete the APPLICATION. We now complete the application process by obtaining any information not obtained at Fact Finder and obtain copies of various documents required to provide your income, residence, spending patterns and identification. We will have advised you of the required documents during the process so by now you should have collected all for submission. We cannot submit your application until this is fully completed.

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Loan application SUBMITTED. Once we have all the necessary details we can submit the application to the financier for consideration. This may take a day or two to obtain a response however provided we have accurately identified your capacity to repay and your credit profile is found it should come back positively in that time. If there are delays or further questions from the financier we will be in touch with you. All queries should be treated with urgency so as to keep the application momentum going forward.

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Receive the ANSWER. Once we have the answer (assuming it is positive) you can go ahead and either get Brokerage WA to complete the search and purchase of the car or if already purchased subject to finance sign off as accepted and ready for delivery.

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Request for INVOICE. This is made by the financier to the dealer and once it is received they will commence drawing up the loan document.

 

DOCUMENT signing. Depending on the financier signing may be done electronically or it may need to be original signature. If original is required this can be done at the Provident Lending and Business Solution office in Wangara or by other arrangement to fit with you.

 

SETTLEMENT completed. Once documents are signed and submitted to the financier they move immediately to settlement direct by EFT to the dealer. Remittance advice is provided and based on dealer policy you may be able to take immediate delivery or wait tow days for funds to clear. Brokerage WA will guide you here.

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THANK YOU. This is all we have left to do. Thank you for selecting Brokerage WA and Provident Lending and Business Solutions to help with your CAR LOAN

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A car represents the second largest purchase for most people, after their home loan.  Never before has it been as important that you do not let emotion and excitement lead you to a loan on a car you can’t pay.  Brokerage WA will always ensure you take your time in making this significant decision; remember we want to help you for many years to come.

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