Poor service and slow..... and I was dealing with two different people and getting two different answers and signed a contract and only to get told another story etc was so bloody annoying and ended up losing money through car precheck and deposit even though was purchasing privately and don't start me on there looking after their customers spiel like their website says as I got no better rates etc so I'm leaving it for now and will def be going elsewhere.
Bad for people wanting to build credit score
If your getting a loan to start building good credit don’t go through finance one - they don’t report to any credit bureaus so your score/rating will be just as bad at the end of paying out a loan as it was in the beginning. Nobody wants to have to pay %28 interest only to find out that paying that hasn’t even helped their score so then high interest loans is the only option and their poor credit score is just as bad as before.
Stay FAR away from finance one Scammers
For a car loan of $18,500 I have to pay back $37,805. More than what the car is worth on interest, $19,305 on top of the car price scammers I will be contacting fair trading and reporting them for this matter. They pry on people that have no money and scam because they know they are desperate for a car loan, I was lied to by their employee car broker I asked if the loan was fixed if it was I didn’t want it to which she replied no the loan is not fixed therefore I stupidly trusted them having no experience in car loans as this was my first and went ahead and signed for it, take it from my experience do not get a loan from these fraudsters. I wouldn’t even give them 1 star
Same rules as banks for personal and caravan finance unfortunately.
Don’t apply unless you have 12+ employment in the same position In the same job.Don’t apply if you haven’t owned or rented the same house for the last 12 month. Your better off with a bank and get a lower interest rate as the lending rules are the same.
Must have 3 years of job and residential addresses, not Evan commonwealth bank ask for this.
Customer service is nice though.
Time line takes too long.
I actually have a very good credit rating and was stupid enough to take a loan through this mob who I would highly recommend anyone against. I only borrowed 14000 as I had a bit of my own money to use on the car three years later at paying $135 a week I still owe $13800. So I’m paying around the 40k Mark for a 14k loan haha got to make you laugh I hope these thief’s crash and burn
We got a car loan of 32,990 and put 5000 of our own money as deposit on a car worth 37,990. Now of course we expected to pay quite a bit of interest (28,000) to be exact, but what was a real slap in the face was they added another 5,000 without telling us just for the application to be processed!!!. So a car worth 37,990, will cost us $71,000. Be careful of these thieves.
By the time I finished paying off my vehicle to these sharks I ended up paying over 100% interest with them having the audacity to send over the repo man with $1000 left on the bill -and rejected my hardship claim neglecting I’m a sole provider to a small family, ended up saving the vehicle with an additional loan and the vehicle later sold for $3000 after being laughed at and insulted for trying to sell it for $4000.
It was a $10,000 car that I ended up paying over $20,000 for
I do not recommend this company. Their interest rate is worth more than my car over by half. You pay several hundred dollars in advance and they’ll still give you a few hundred dollars in interest if you didn’t make a payment that week. Poor customer service and ethics. Stay clear. If I could turn back time I would
HIGH INTEREST RATE, too many fees and not helpful.
Currently have a car financed through them, their interest rates are really high, including their monthly fees charged on top
of that. During the coronavirus impact, my partner was out of work and I emailed them asking if payments could go on hold just until he finds a job. They weren’t able to assist with that and was only able to to hold off on only 2 payments. Even worse they also said to me that I need to increase my payments to pay off the outstanding amount. Do not recommend this company at all and we are planning on getting this loan with them paid off to pay someone other company with better interest rates and less fees. Do not recommend at all!
Astronomical Interest Rates
The customer care team are good but this is overshadowed by the interests rates, they are out of this world. By the time that we pay our loan, we would have paid back more than half in interest.
If you can get finance elsewhere - do it!
Really high interest rates + monthly fees + huge application fee = Avoid
I was a bit apprehensive about all the gleaming reviews and rightly so. Maybe they got a much better deal than me but based on my experience I am with the other people who cannot understand how there are so many 5 star reviews. Don't get me wrong, the sales consultant I was dealing with was nice and prompt at responding, but the costs and loan process seems off to me.
First read flag to me was that there are no comparison rates on their website, or anywhere for that matter, you have to enquire with them directly. So when I went to enquire they...asked for my recent bank statements. I sent them through. Then they said congratulations I was suitable to get a loan and sent an application for me to sign right away. Second red flag was that they didn't give me any information about their loans before they got me to sign the application. I told them I was just looking around for now, not to apply just yet but to please give me a breakdown of all the costs. My estimate for a $10K loan was a $1995 application fee, $22 a month account keeping fee and 22% interest rate over three years... What?! That would cost me approx. $17K if I took the whole 3 years to pay. But apparently I had to sign the application form to be able to find out how much I was actually going to get, which would be gosh knows how much AND affect my credit score at the same time. I have just received a quote from another company for a loan with a 5% interest rate for 3 years with only a $400 application fee and no other monthly or hidden fees, so I would HIGHLY recommend doing your research before settling with Finance One.
I don't understand all these 5 star ratings they seem like an doggy company to me .. high interest rates
2 years ago I borrowed 13500 from them I have been paying 35 pw more then the amount I needed to pay for just on 2 years I have payed back $15800 and I still owe $12400 work that out hey I ve been hustled hard and would not recommend a lone from these guys there are hidden fee s! And high interest rates I have not once missed a payment either good work finace one you shore know how to scam people
Don’t even bother.
Do not use Finance One. The interest rates are the highest on the market and they are horrible to deal with. They can never give you a clear answer about anything, they will not reduce your loan balance if you are going to pay it all out early, they will take every dime off you. DO NOT USE FINANCE ONE.
Wouldnt waste your time
From an ex customer who smashed out a previous loan well before due date with out 1 single hic up, to then be offered and promised the world to then dropped like a hot spud due morons not knowing how to count, having problem solving skills, common sence or any logical ways of thinking... still struggling to sit down after the interest rates, still a bit sore
Not very good
Done my loan through Savvy finance who got me connected with finance one.Firstly done a credit check and said eveythings fine with my credit. Then they asked me for a 2000 dollar deposit, so i deposited the money, then comes the contract with 1500 comission to savvy, 1500 risk fee, 595 application fee and 2600 for insurance and 23 percent interest. So for a simple 15000 dollar ute im paying 43000 over 6 years. Wish they would of told me my credit was bad and about all other fees and costs before i deposited the 2000.should just honest savvy an...d finance. Funny thing as well 2600 insurance on the contract says i indicated to get it , but savvy finance told me i had too get the insurance. Im paying it off thou and im lucky i can pay it off. Learnt my lesson, just a warning for you out there be wise and dont make deposits till you know everything. Cheers
Questions & Answers
We have been approved by a lender, for $4K less than we originally requested. The car I'm after won't be available until end August 2021. The vendor is unwell and would like to enjoy the car until he no longer can. I'm happy to wait. The lender, it seems is not. We are not willing to pay interest on money we haven't yet used.
Are we able to submit all relevant documentation to another lender and treat this as a new enquiry? We are after a lender who will be considerate to the vendor's plight and my original requested figure.
Hi Judy, thank you for reaching out to us. You could call us on 1800 346 663 to discuss your options with one our friendly team members.
I have just become discharged from bankruptcy. I work 40+ hours a week as a disability support worker and desperately need a reliable car for when I’m out in the community helping participants. I have only been with the company four months however. I haven’t had much luck because of my credit rating. High interest doesn’t bother me. I’d rather my money go towards something I need. Thanks for your time.
Hi can I get Car finance y iam in a part 9 agreement.. iam have a full time job taking home 900 a week..
Thank you for getting in touch with us. We can help you even with a part 9 agreement. Please reach out to us through our support page https://financeone.com.au/support/ or call us on 1800 346 663.
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