How much can I borrow?
The amount borrowed will depend on your ability to repay, your credit history and the security available.
What will you need to assess my loan?
At a minimum we will need:
- A completed Loan Application
- Evidence of your income
- Proof of address
- A Photo ID Licence, passport or Birth Certificate
- 3 months bank statements
We may ask for additional information depending on your circumstances.Why we need to ask you for information.
What are your interest rates?
The interest rate we can offer will reflect your individual circumstances but will be the most competitive available to us. Our current interest rate range can be viewed here. The rate that applies will be fully disclosed before signing the loan contract.
What fees will I pay?An establishment fee will apply when your loan is approved and drawn down. An administration fee is also charged to your loan weekly, fortnightly or monthly. Other services may also apply. The fees that apply to your loan will be fully disclosed before signing the loan contract. Our current fees can be viewed here.
Will you need security?This depends on your personal situation.In certain circumstances we may choose not to take security. In other circumstances, to protect ourselves, we may be required to take a car as security.
What term can I take the loan over?Our loan terms are between 9 months and 60 months (5 years).
How long does it take to approve my loan?If we have all the information required, most loans can be approved within 24 hours.
Will I need a guarantor?A Guarantor may be required if you are under 20 years of age.
What is the minimum age for a loan?You must be at least 18 years of age to apply for a loan.
If I buy a car does it have to be insured?Yes. Wanganui Finance will need to be noted on the policy as having a financial interest.
How are repayments processed?Repayments need to be made by direct debit, automatic payment or internet banking from your nominated bank account. We can also arrange to make a deduction from your wages.
If my circumstances change can I pay back the loan early?Yes you can with no penalties.
What is a credit reference?We may ask for a statement from a previous lender that you have been able to make payments on similar loans in the past.
What if my credit rating is poor?We deal with many kinds of borrowers and will certainly try to assist you. A higher interest rate would normally apply.