Frequently Asked Questions
- Applying for a loan
- Loan Security
- Update my details
- Falling behind
- Budgeting Help
How can we
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.
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?
If you've applied for a loan directly with us and your loan application has been 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.
If you have applied through your dealer or broker, this process will be organised by them.
We also offer an electronic signing option via mobile, laptop or pc without you having to travel. This would require you to supply us with electronic bank statements through a link we’ll forward you and confirmation of your ID via electronic identity verification. This option is subject to meeting all the requirements of electronic signing.
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 driver's 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 a car from a private seller?
Can I buy from a vehicle auction?
Yes. We treat this the same as buying from a dealer.
Can I cancel my loan contract?
Yes, you can cancel your contract if you change your mind about the loan. If you want to cancel your contract you must do so within 5 working days if disclosure documents were handed to you directly, within 7 working days if they were sent to you by electronic means (e.g. email) and within 9 working days if they were posted to you.
To cancel, you must give us written notice of your intention to cancel. You can do this in person, by email or by post. You must also return the loan when you cancel your contract. Any reasonable expenses incurred may be payable.
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.
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 09 914 1090 or 0800 003 111.
What will my 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. Take a look at our calculator to work out your repayments.
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.
There are free and independent budgeting services that are available to help you assess your finances and help you with your budget.
How do I make payments?
We prefer payment by direct debit from your bank account. When you sign your loan documents, we’ll simply give you a direct debit form to sign and we’ll take care of sending it to your bank for you.
If you need to make a one off payment, our Westpac back account details are below. Please use your loan contract number as the reference.
You can also make payments through mobile or internet banking. Here's how:
What if I missed a payment?
If you’ve missed a payment we encourage you to get in contact with us as soon as possible so that we can work together to find an alternative payment arrangement. If you’d like to talk to someone about a missed payment, call us on 0800 808 003.
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. 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.
What if I default on my Avanti loan?
If you default on your loan payments you will incur default interest and fees. It 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.
If you're struggling to meet your loan repayments, we encourage you to get in touch with us so that we can work out a plan that works for you and meets your debt obligations.
How do I apply for Hardship?
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 email@example.com.
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 808 003 or 09 571 0720
Post: Avanti Finance Limited
Private Bag 11 917
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
P O Box 5967
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:
Complete the 'Update My Details' form on our Existing Customers page
Phone: 0800 808 065 or 09 571 0720
Post: Avanti Finance Limited
Private Bag 11 917
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. There are plenty of budgeting tools and resources available at www.sorted.org.nz. If you prefer to speak to someone to receive free budgeting advice, visit https://www.moneytalks.co.nz/ or call 0800 345 123.