Find answers to common questions about finance, loans, and leasing services at Amigo Finance. Our FAQs cover a wide range of topics to help you make informed decisions.
Cars, bikes, boats, trucks, trailers, equipment, renovations, debt consolidation, personal loans and plenty more.
Buying something? Funding something for the business? Trying to get multiple debts under control? That’s the sort of thing we help with every day.
Your application needs tobe suitable and affordable and is subject to lender approval.
How does Amigo get paid?
We may receive a commission from the lender when your loan settles, and an origination fee may also apply depending on the finance arranged.
Any fees that apply will be clearly shown and explained before you proceed. Where available, fees can be included in the loan amount rather than paid upfront.
No sales pitch. You’ll know what it costs and how it works before you sign anything.
Can I get pre-approved before I’ve found a car or asset?
Yes. In many cases, we can help you understand your budget and arrange a pre-approval before you start seriously shopping.
Once you find the asset, the lender will still need to confirm it meets their criteria. If the age, type, value or loan amount changes, your rate or available options may change too.
What happens once I choose an option?
We help organise the application, documents and anything else the lender needs, then manage the process through approval, contracts and settlement.
For vehicle or asset purchases, funds are generally paid directly to the dealership or verified private seller. For personal loans, funds may be paid directly to you, or for debt consolidation, used to pay out your existing debts.
We’ll keep you updated the whole way through.
Is Amigo a lender or a broker?
We’re a broker. That means we’re not here to sell you one lender’s loan.
We work with more than 50 lenders, do the legwork and explain the available options and costs before you decide what to do next.
How quickly can Amigo get my loan sorted?
It depends on the type of finance you need. Some straightforward applications can be approved instantly, with funding completed in as little as two hours from start to finish.
Other applications can take longer, particularly business loans, larger loan amounts, private sales or debt consolidation involving multiple debts.
As a general guide, most applications receive a lender response within 2 to 4 hours, and settlement can often take place within a further 2 to 4 hours once everything required has been provided.
Can you help with used cars and private sales?
Yes. We can help arrange finance for new and used vehicles, whether you are buying from a dealership or a private seller.
Private sales usually involve a few additional checks before settlement, including verifying the vehicle, confirming the seller’s details and making sure payment goes to the right place.
We’ll guide you through the process and let you know exactly what is needed to get the purchase completed.
Can I get finance for my business, ute, truck or equipment?
Yes. We can help with finance for business vehicles, utes, trucks, trailers, machinery and equipment.
For eligible businesses, low-doc finance can be very straightforward. Many lenders can assess an application based on your ABN history and/or GST registration, the asset being financed and your credit profile, without needing full financial statements.
Where the business and asset fit lender criteria, applications can often be wrapped up quickly. For larger or more complex requests, additional information may be required.
We’ll explain the options, costs and requirements upfront, so you know exactly what is involved before you proceed.
Will checking my finance options affect my credit score?
Where possible, we start with a soft credit check, also known as an access seeker check. This does not affect your credit score and is not recorded as a lender enquiry on your credit file.
It gives us a clearer picture of what a lender is likely to see, so we can talk through your options before you decide whether to make a formal application.
A formal credit enquiry is only made once you choose a lender and decide to proceed.
What documents will I need?
It depends on the loan, but generally we may need ID, details of your income and expenses, and information about what you are financing.
We may also send you a secure bank link to provide a recent bank statement extract. That lets us look at the application the way a lender is likely to before anything is formally submitted, which can help avoid unnecessary credit enquiries.
For an asset purchase, business finance or debt consolidation, we may need some extra documents. We’ll tell you exactly what is needed and why.
Can Amigo help me consolidate my debts?
Yes. If you have personal loans, credit cards or other eligible debts, we can look at whether combining them into one loan could simplify your repayments or reduce the pressure on your budget.
Debt consolidation is not automatically the right move for everyone. We’ll help you compare your existing repayments against the new loan structure, fees, term and total cost, so you can decide whether it works for you.
Any approval will depend on your circumstances, affordability and lender criteria.
Can you help if my bank has already said no?
Possibly. One lender saying no does not always mean there are no options. Different lenders have different policies, credit requirements and ways of looking at an application.
We’ll take a proper look at your situation before submitting an application anywhere. If there is an option that could work, we’ll explain it clearly. If there is not, we’ll give you a straight answer.
