FAQ

How do I get a loan?

You can apply for an Avanti Finance loan through a finance broker, dealer or mortgage advisor, or directly with us. It takes less than five minutes to apply online and we’ll get back to you within 2 to 24 hours, depending on the time of day you apply. Apply now.

What is your rule about who you’ll lend to?

We don’t have a single rule. We see you as an individual and look at your overall situation.

Do I have to provide something as security for the loan?

We often use vehicles and/or property as security. However in some cases dependent on your overall profile and how much you are applying for we may not require security. Our team will assess your application on its merits and advise if security is required.

How much can I borrow?

We provide loans from $500 to $500,000. We just need to be sure you can keep up with the repayments, for your sake as much as ours.

What will the interest rate be and how long can I take to pay it off?

Our lowest interest rate is 9.95% (typically for property secured first mortgages) and our loans range from 3 months to 10 years. Your interest rate and term (how long you have to repay the loan) will be based on the loan type, your credit rating, and the security you provide.

What will the repayments be?

Your loan repayments will depend on how much you borrow and for how long. The frequency of repayments will be matched to your income; weekly, fortnightly or monthly. Our minimum weekly repayment is $20.

How do I work out the repayments I can afford?

To keep yourself on track financially it is very important to know where your money is going and to have a plan for managing your income and expenses. It is a good idea to work through your budget every few months, particularly if you are thinking about buying something or getting a loan.

If you already have some debts through loans, credit cards and/or store cards, we specialise in bringing all your debts into one easy loan. This can help get your finances back under control. Together, we can work through your income and expenses and decide on the best way to settle some of your debts into an affordable payment.

There are many budgeting agencies that can independently assess your budget and offer advice. If you need more information go to Family Budgeting or Sorted.

How long does it take to get an answer on my application?

In most cases you’ll have a response within 2 to 24 hours, depending on the time of day you applied. If it’s more urgent please let us know and we’ll do our best to get back to you sooner.

What happens once the loan is approved?

Once your loan is approved, you can drop into our Auckland office to sign the documents. It takes about 30 minutes. Alternatively we can simply email or courier them to you, so you can sign up in front of a suitable witness who will verify your ID, and send them back to us.

How do I make payments?

We prefer payment by direct debit from your bank account or by a wage deduction from your employer. It’s up to you. When you sign your loan documents, we’ll simply give you a direct debit or wage deduction form to sign and we’ll take care of sending it to your bank or workplace for you.

How do I make a payment?

Our Westpac bank account details are below. Please use your loan contract number as the reference to ensure your payment is properly allocated, thank you.

Avanti Finance Westpac account: 03-0195-0750054-00

What should I do if I can’t make a payment?

If you are having difficulty making a payment please phone our customer services team. We’re more than happy to talk this through and work with you to decide on a suitable payment arrangement. Remember to explain why you can’t make your payments because if you took out payment protection insurance with your loan, it might cover your payments. You may be able to make a Hardship application if you have suffered unforeseen hardship. If you meet the criteria, we may be able to make changes to your payments to meet your changed circumstances. You must make your application to us in writing explaining your reason for Hardship and outlining a proposed payment plan. We will advise you of the outcome within 20 working days of receiving it. If we require further information we will ask for it within 10 working days. You can email us your application and any supporting information at hardship@avantifinance.co.nz.

What if I want to sell my security property?

Please talk with us if you are thinking of selling or refinancing a property which is used as security for your loan. We might need you to repay the loan in full from the sale of the property or provide another suitable security. We can often transfer the security to another property.

Can I sell my car that is used as security?

You can, if you discuss this with us first. You’ll need to repay the loan in full or provide another suitable security. If you’re selling your car to buy another one, we can help by considering a loan application to finance the new purchase. Please phone our lending team today on 09 571 0720 or 0800 808 003.

Will you lend to me if I have bad credit?

We do a credit check on everyone who applies for a loan. If you have missed any large payments in the past, we’ll talk with you about why they occurred. We might need to see evidence that you’re repaying them or we might need you to repay them in full if we lend to you. If your reasons for missing the large payments are genuine we’ll look at finding a suitable solution for you. We like to look at each application on its own merits, so please phone us and discuss.

Do you lend to beneficiaries?

Yes, if we’re sure the person can afford the repayments and provide suitable security, just like any other customer.

Can I have a loan pre-approved before choosing a vehicle to buy?

Yes. You just need to provide us with a copy of your drivers licence and evidence of your income, such as a pay slip or bank statement that’s no more than a month old. We’ll ask you about your current income and expenses to work out a repayment you can afford. If we’re able to approve a loan for you we’ll give you a guide to the vehicle types and maximum price you can shop for.

Can I buy from a vehicle auction?

Yes. We treat this the same as buying from a dealer.

What if I want to make a complaint?

If you have a complaint, we would like to know. We’ll do our best to put it right for you and to learn from what you tell us.

You can contact us in the following ways:
• Phone 0800 800 107 or 09 571 0720
• Email complaints@avantifinance.co.nz
• Post:
Avanti Finance Limited
Private Bag 11 917
Ellerslie
Auckland 1542

If we can’t revolve your issue immediately, here’s how we will deal with it.

1. If you have made your complaint verbally or via our website, we will acknowledge your complaint immediately. If you have made your complaint in writing we will acknowledge it within five working days of receiving it.
2. We aim to have your complaint resolved within five days and will email or write to you outlining the resolution. If after five working days we can’t resolve your complaint we’ll keep working on it and aim to resolve it within 20 working days.
3. If for some reason we cannot resolve your complaint within 20 working days, we will write to let you know why we need more time.

If you are unhappy with the outcome of your complaint or if it has not been resolved within 40 working days, you can contact Financial Services Complaints Ltd (FSCL). FSCL is an independent approved disputes resolution scheme that we belong to.

It will not cost you anything to refer your complaint to FSCL and you can contact them in the following ways:

• Phone 0800 347 257 or 04 472 3725
• Email info@fscl.org.nz
• Post
FSCL
P O Box 5967
Wellington 6145

What do I do if I change my address?

You should notify us of your new address as soon as possible if you are an existing customer and you change your address. You can contact our Customer Service Team in the following ways:
• Phone 0800 808 065 or 09 571 0720
• Email customer.service@avantifinance.co.nz
• Post:
Avanti Finance Limited
Private Bag 11 917
Ellerslie
Auckland 1542

Are there services that can assist me with my budgeting?

There are free and independent budgeting services that are available to help you assess your finances and may be able to assist you to work out a payment plan. Information on some of these can be found on www.familybudgeting.co.nz.

What if I default on my Avanti loan?

If you default on your loan payments you will incur default interest and fees. You may also affect your credit rating. If your loan is in default and is secured by a vehicle or property enforcement action may be taken against them.

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Avanti Finance lending criteria and conditions apply.

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