WHAT IS A CREDIT RATING
It’s a question we get asked a lot. And because it’s so important, we’ve included a quick explanation below.
Zoom Car Loans are also happy to provide you with a free copy of your credit file – just ask us!
What is a credit rating?
The basis of the scoring system is, the higher your credit rating, the more likely you will be able to repay a loan. The lower it is, the less likely it is you will be able to repay a loan. Your credit rating directly influences the amount of money banks and lenders are willing to let you borrow and at what interest rate.
Free copy of your credit file
If you would like an obligation free copy and assessment of your credit file, to help with your loan application, simply pop your details below.
Who we can help
- Current paid or unpaid defaults
- Discharged bankruptcies
- Discharged Part 9 agreements
- Centrelink payments (Minimum income of $800 per fortnight)
- Loans starting from $5,000
- Express, low doc, commercial applications
- Non-conforming applications
- New entrants to Australia
- Tip 1 – Banking Conduct
- Tip 2 – Residential details
- Tip 3 – Your credit file
- Tip 4 – Existing financial commitment
- Overdrawing your account
- Dishonouring on direct debit payments
- Gambling transactions
- Withdrawing all funds from your account the day you receive your income
Steering clear of these common mistakes will heighten your chances of approval.
Your credit file
Existing financial commitment
- Bankrupt of under a Part 9 Agreements
- Receiving a total income of less than $400 p/week
- Receiving sole Newstart of Youth Allowance payments
- Non-Australian residents on holiday in the country
- Non-Australian residents on a student visa OR
- Do not meet the specified terms, condition and affordability checks
Australian Credit License Number 427288