FAQS

The minimum loan is $ 1,000 and the maximum loan is 80% of the wholesale value of your vehicle (what it will sell for at public auction) for cars up to 5 years old, and up to 50% of the wholesale value for cars older than 5 years.

If you go to http://www.redbookasiapacific.com/au/ you can enter the details of your vehicle and check the "Trade in price guide". Using the lower figure, remember that (as a guide) we can lend up to 80% for cars up to 5 years old, and 50% for cars older than 5 years. 

To work out if we can lend to you we need to know the make, model, year and kilometres of your vehicle.

To arrange drawdown we need to see you and the vehicle at our offices with the following documents:

• Photo ID (driver's license or passport)
• Proof of residence (recent rates notice or rental agreement)
• 2 utility bills in your name to your home address
• 3 months recent bank statement (the account you use for every day expenses)
• Registration papers for the vehicle offered as security
• Proof of income and / or exit strategy (how you intend to repay the loan)
• A company name and ABN / ACN for company borrowers

We can give you a 'yes' or 'no' decision in 3 minutes over the phone. You can have cash within 40 minutes of meeting, subject to vehicle and document checks.

There is no set period but these loans are designed for short-term, 2-5 months. They are like a line of credit or an overdraft with interest charged monthly on the outstanding loan balance.

They are competitive over short periods because there are no admin or set up fees and only a straight interest rate per month. You can repay the loan at any time although the minimum charge in one month's interest. After the first month, interest is charged on a daily basis.

If you require a longer term loan, please consider a personal loan and visit the 'Personal loan' section.

The interest rate will vary according to risk. The stronger the applicant's position the cheaper the rate but the lowest rate is 3.9% per month. Remember, there are no admin or set-up fees.

It is easy to get an over-the-phone decision and it only takes a couple of minutes. So don't delay, call us on 1300 1 MONEY, 1300 166639 or, if you prefer, complete the on-line application form.