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How much will my payments be?
Generally we can make the payments to suit your budget, however they can be as low as $32 a week. Of course the sooner you pay off your loan the less it will cost. Some clients may start their loan with
lower payments and later increase payments to reduce the term of the loan and the cost.
How much can I borrow?
For loans up to $1500 no security is required. For greater amounts, security of a vehicle which is less than 10 years old and is warranted, registered and fully insured is required, or real estate security which may have a 1st mortgage of not greater than 40% of the value.
Will my NZ Finance and Loans account help with my credit?
It’s not uncommon for clients who have had some problems in the past to open an account for a smaller amount of money to establish their payment history with us and once that has been established, larger loans can be set up. When you have completed your loan with us you will receive a written credit reference.
Can I increase or decrease my payments?
Yes you can increase your payments or make lump sum payments. If your circumstances change and you find difficulty in making your payments, contact the office - we will always be happy to adjust your payments temporally to suit your change in circumstances.
Can I get a personal loan if I am on a benefit?
Yes you can, however the amount you can borrow will be restricted by the amount you can reasonably afford without causing you any problems.
What sort of information will I need to provide for my loan?
We will require:
- A form of photo ID like drivers licence or passport
- Proof of income like a pay slip or WINZ Breakdown letter
- A recent bank statement which shows transaction details for the past 2 months
- A copy of your tenancy agreement (or rates demand if a home owner)
- Recent bill or account which will confirm your address
Can I “top up” my loan?
Our QuickDraw facility enables you to top-up your existing loan account without doing any further loan documents. Its simple and quick. At any time your loan balance is less than your pre-approved QuickDraw limit and your acount has no arrears, you can top up on your account and the fee to do this is just $25.00.
How do I make repayments?
Our preferred method is by Automatic Payment or we can provide a deposit book which you can take to any Wespac Bank branch anywhere in the country.
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