Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 4.67% would cost $34,096.76 including fees.
Excessive early repayment fees and $400 establishment fee. Early repayment fee just went up to $700 in the first and second year and $500 in subsequent years. Means you're paying $700 early repayment in the first 2 years of a 3 year loan! Shop around. There's better deals out there. I'll never use them again.
I applied for a car refinance after checking with them if my employment status was ok for them to proceed (length of employment 5.5 months, and passed probation after 3 months and became permanent on the 4th month). They said bare minimum is 3 months so I qualify. After loan got approved and pending settlement the lending officer called me just the day before settlement and said I don't qualify as my employment contract shows a date of the 4th month. I advised this is the conversation we had before application where I told I became permanent last month hence applying now. He asked for supporting letter from employer mentioning length of employment, but when that was passed he called me and having few sips and said the application declined. Few years back I had an interview with these guys, I sacrificed and wanted to step back from my IT account management background to switch to Finance. But in the interview board 1 young guy came in the hoodies, and 1 young lady asked to me to roll play, and gave me script saying this is a warm genuine lead and I will need to finalise the deal. When I started roll play, and introduced me saying I was following on this lead, the lady interviewer said "NOT INTERESTED". I said you called us for a loan and spoke to such and such persona and I am the lending officer calling you to discuss. SHE AGAIN SAID "NOT INTERESTED". That's the day I realised that I was seeing some ametures and pretty bad company. But after this application experience years later, my belief is now set in stone. They should either work hard, or sacrifice their licence. Such a joke!
Wasted my time in applying, creating app accounts, uploading documentation and having a car loan appointment to be told that I don't qualify because I recently started a new job (in the same industry I have been in for 20 years) If length of time at current job is one of the criteria for an application, validate it on the form field instead of pushing people through the whole process to be bounced back. I already have a small car loan with loans.com.au that is nearly paid off but they wouldn't take that into account. Also when I asked how long it would take at my new job before I could reapply the response was vague, and both 3 and 6 months were mentioned. It seemed like the consultant was making it up as he went along. :)
They just wasted my one week for no reason. After completing online assessment, I got a phone call and got pre approval which was useless. And then from that point they start taking me in rounds. Every second day a new person contacts and asks for the same document which I have provided. At last I decided to withdrawal the application. Very unprofessional, and pathetic service.
Was a bit sceptical but thought I’d give them a call. From first phone call were great to deal with, good follow ups, very quick and efficient process, and offered me the lowest rate which I wasn’t expecting. Could not ask for anything more! Would definitely recommend and use them again in the future.
They entice you in with their low rates and then screw you over, charge you additional fees, say they've not received any contact from you and then charge you more fees. Disgusting.
Anyone can be having a hard time. Everyone has other things going on in their life. Being rude to a potential customer is just inexcusable. They offer a great product on paper, but they fail to realise that customer service is also a component of the product. They need to be more compassionate and understanding, instead of driving away future business with their condescension. Won't be dealing with them in the future.
They are quick to respond to your queries. Their Ontrax App lets you upload your documents to keep track of progress and their online portal is easy to use once you're up and running. It's great to check progress and download statements to your required periods.
The whole refinance started with them telling me the monthly repayment would be 1080 multiply by 12 and divide by 52 which is $249. This was told by one of there CSTM. Now I signed up, and they paid settlements to old bank. Now guess How much I’m paying ? $1080 divide by 4 which is $270. They claimed they never said so. I requested them to listen to the record they recorded for quality and coaching purpose because I know they said so. They probably won’t. Is it some kind of trick to get more customers? I really want people to read this and relate. I hate when people makes me a fool. So here’s my review.
Easy process, great communication.
Time wasters. 2 Weeks uploading the same documents up to 5 times with their terrible "on track" system. They accessed my credit file, pre approved everything, and at the end said they realized my car loan qualifies as personal and not car, and they can't do it.
Got a fantastic car loan rate. Easy to set up.
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Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 4.67% would cost $34,096.76 including fees.
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 4.89% would cost $34,276.58 including fees.
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 4.74% would cost $33,949.23 including fees.
Terms from 2 to 5 years. Representative example: a 3 year $10,000 loan at 5.95% would cost $11,538.74 including fees.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 4.69% would cost $33,888.17 including fees.
WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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