Frequently Asked Questions

Personal Loans

Vehicle Loans


Personal Loans

How much can I borrow?

Our minimum loan amount is $3,000 and maximum is $250,000. How much you can borrow within this range depends on your personal circumstances and affordability. It’s important borrow only what you need and to ensure you can comfortably meet your repayment obligations for the term of your loan. Our team, are expert at helping you determine your personal borrowing sweet spot.

How long does it take to approve the loan?

We work hard with our clients to collect all the right information up front before we assess the application. Helping us to approve loans faster, usually within the hour.

Can I consolidate existing debt into my new loan to have one payment?

Yes. Debt consolidation loans are very common and are a great way to help people budget better, get on top of their outgoing payments and pay off debt faster and usually at a combined lower rate of interest.

What are repayments and what is the frequency?

The repayments of a loan are determined by several factors. Mainly amount borrowed, interest rate and the term of the loan. We have a great calculators for you to run the numbers and see how these factors can suit your budget.
Repayments can be made weekly, fortnightly or monthly via direct debit.

How long does it take to get money in my account?

Using innovation and smart technology we can have loans funded on the same day as approval. 
Banks have their own processing times for the money to show up in your account, but usually received that same night.

Vehicle Loans

What is a vehicle loan?

Vehicle loans can be used for all types of reasons, whether it is financing the purchase of a motorbike, car, carvan, campervan, boat or even a jetski. 
A vehicle loan could also be using an existing car you own to utilize the equity within your vehicle to borrow against and achieve a must lower interest rate than a personal loan.

How does a cashraise work?

Cashraising is where you use a vehicle that you already own, and use it as security for your loan to achieve a much lower interest rate, compared to an unsecured loan. Think about it like a mortgage but secured against a car, motorbike, boat, jetski or even commercial vehicles.

Can I pay off my vehicle loan early?

Yes, here at better we are proud of the tools we have to offer to help our clients pay off their debt faster and get debt free earlier. 
Some lenders will have fees and charges within their loan contracts if your loan is repaid before the term of the loan. So check the fine print before signing your contract.

Can I get a vehicle loan if I have poor credit history?

Bad credit can seem like a burden when trying to get approved. A vehicle loan does help mitigate some of the risks from a lender when providing finance as there is collateral to claim against if the loan is unpaid.
Although being offered finance is not a given, a vehicle loan does open more options when there is a vehicle to use as security. 

Can I refinance an existing vehicle loan?

Yes. You can refinance your loan to a different lender even if you have finance secured against a vehicle. 
Refinancing can be a good option to reduce your annual interest rate, saving you money in the long run and helping to pay off your debt faster.
Make sure you consider fees to repay your existing debt early, and any additional fees in securing the new finance.


What is a personal loan repayment insurance?

Loan Repayment Insurance is your safety net for the unexpected. If you were unable to work due to sickness, injury, accident or even redundancy. Loan repayment insurance pays a monthly benefit to cover your loan repayments until you get back to work. Ensuring you don't default on your loan if the unexpected happens.

How do I pay for Personal Loan Insurance for my loan?

There are no upfront costs to add loan repayment insurance onto your new loan. The cost of the insurance is added to your loan amount and is repaid with your normal loan repayment.

What other insurances can I get on a loan?

Loan repayment insurance is available on all loans. For vehicle purchases we can also offer Mechanical Breakdown Insurance, Guaranteed Asset Protection and Comprehensive car insurance. 
All of the insurances we can offer on your finance helps protect you and your asset in different situations. See the product pages for more information.

Like to run your numbers?

Calculate your repayment estimates and more.

Have a question? We’re here to help

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