Waste of time
As an existing Bankwest customer we were pre-approved for a secured car loan. After finding the car we wished to purchase we commenced the official application. All information requested was supplied but over the following 2 weeks we were constantly mucked around. Finally we were advised our application was not approved as my husband works for a labour hire company. We have been loyal Bankwest customers for the past 8 years, both work and have no debt. I was more disappointed with the application process or lack of then the declining of the application. Our car sales person was also very surprised with the constant requests for irrelevant paperwork and in the end we just ended up going with the car yards finance company who was more than happy to match Bankwests interest rate.
Given incorrect information, very long application process, constant requests for paperwork that was not relevant
Ridiculous!! Don't waste your time!
As existing Bank West customers, we applied for a $16,000 secured car loan.
Only *after* wasting almost a week going through the application process, they advised us that they only lend an amount equivalent to the base price of the vehicle (excluding GST, delivery fee, Stamp Duty and Registration costs, which are compulsory when purchasing a new car from a dealership), plus 20%.
That meant they would only lend $14,600 for us to purchase a $16,000 car. This is irrespective of earnings and credit rating, etc. We were advised to seek a second loan to cover the balance! Bizarre!
Whatever their reasoning, these terms were not detailed anywhere prior to making the application.
Incidentally, the Business Manager at the dealership had never heard of such terms, and we proceeded to arrange finance through him (using Bank of Melbourne).
What a waste of time!
Hidden terms (rendering loan useless)
Will go here first every time!
Fantastic. The person we had helping us was really helpful, explained everything to us clearly and answered all our questions. The approval process was pretty smooth and quick.
Fantastic customer service, great deal with the interest rate too. They were open before all the other banks, I didn't have to wait around until 9.30am to see them!
Nothing bad at all.
not a bad loan, paid off my loan last month, the loan i had apprently is a old product, that you can pay it off in 15 months, but the new product charge you penalty fee if you pay it off in 24 months, just need to push the staff in the bank, and ask them exactly what you gonna get. otherwise,good.
easy to use internet banking.
good fixed rate.
people are always helpful when you go to branches
need to be careful about when you can pay it off without any penalty. and some of the stuff do not even know some old product, which is like less than 1 year old.
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