Frequently Asked Questions

Depending on your circumstances you can borrow up to 100% of your car’s purchase value and add extras such as Car insurance and extended warranties often without the need for a deposit. 

Car loans typically start at $5,000 upwards depending on lender.

Starting an assessment is easy, visit our loans page, choose the loan you require and hit start an assessment. Or click here

Alternatively drop us a message, give us a call on (07) 3916 9440 or visit our office to speak to an experienced consultant to discuss available loan options with you. 

Royston Finance will provide a no obligation, hassle free quotation for you to make an informed decision with no obligation to apply.

Organising car finance can sometimes feel time-consuming, especially when dealing directly with multiple lenders or dealerships. 

At Royston Finance, many applications can be pre-approved within hours depending on the situation.

Most finance brokers and dealerships in Australia charge a brokerage fee for the services they provide. At Royston Finance, we believe in being fully transparent about this upfront.

Our brokerage fee ranges from $500 to $1,495, depending on the NAF (Net Amount Financed).

This fee does not go directly to your individual broker. Instead, it supports the work involved in sourcing suitable lenders, preparing and submitting your application, managing the approval process, and guiding you through settlement. It also helps us operate our business and provide the dedicated one-on-one support you receive from start to finish, while helping maintain competitive lender rates.

Most customers choose to include the brokerage fee within their finance. However, if you would prefer to pay this directly, simply let your broker know and we can arrange this for you.

The exact brokerage fee will always be disclosed and agreed with you prior to proceeding with your application.

Many lenders allow early repayments or early payout options, although fees and conditions may vary depending on the lender and loan structure.

Always review loan terms carefully before proceeding.

We can accommodate short term employment however it will depend on the role you have done before and the role you are starting as well as time you have been continuously employed and on what basis. Best to check your personal circumstances with our specialist team. 

We could potentially secure finance for you even if you have not resided in Australia before or you are simply returning to the country after an period of absence. 

We often work with new arrivals which are here to stay permanently or temporary on a visa. We have built up strong relationships with specialist lenders and we know exactly what they require to get the loans over the line. Check out our finance for new arrivals page.

Whilst most of our customers purchase their cars through a dealership sale, we also have plenty of options for customers wanting to go through a private sale. Some lenders will require more documentation than others and most have an uplift in rate. 

We know the process well and we can guide you through it. 

Worth noting, Dealership finance options are often more expensive than using a brokerage service like Royston Finance as they are often restrictive and carry hidden fees.

Some dealerships use “shotgun applications,” where your details are submitted to several lenders at once to try and secure approval quickly.

While this can sometimes lead to an approval, it may also create multiple credit enquiries on your file and reduce future borrowing power.

Potentially, yes.

Every formal finance application may create a credit enquiry on your file. Multiple applications within a short period can reduce your credit score and make future approvals more difficult.

That’s why it’s important to understand your options before applying.

In Australia, most credit enquiries remain visible on your credit file for up to five years, although their impact may reduce over time.

Too many recent enquiries can sometimes make lenders cautious.

No.

Checking your own credit report or credit score is generally considered a “soft enquiry” and does not negatively impact your credit score.

A soft credit check allows a broker or lender to review parts of your financial profile without creating a formal credit enquiry visible to other lenders.

A formal finance application usually creates a hard enquiry on your credit file.

This depends on the lender.

Some lenders prefer longer employment history, while others may consider:

• Day 1 employment 
• probation employment 
• recently commenced roles 
• employment contracts 

Stable industry history and consistent income may help strengthen applications.

Potentially, yes.

Lenders may assess:

• time in current employment 
• probation status 
• industry stability 
• income consistency 

However, changing jobs does not automatically mean you will be declined.

Potentially, yes. 

Many lenders now assess Buy Now Pay Later services such as Afterpay, Zip Pay, Klarna and Humm when reviewing affordability. While using these services does not automatically mean you will be declined, multiple active accounts or high repayment commitments may reduce borrowing capacity with some lenders.
 

Potentially, yes.

Some lenders may still consider applicants with paid or older defaults depending on:

• the size of the default 
• how old it is 
• current financial position 
• income and affordability 

Every lender assesses credit history differently.

A secured loan is usually tied to an asset, such as a vehicle, which may help reduce lender risk.

An unsecured loan does not use an asset as security and may have:

• higher interest rates 
• lower borrowing limits 
• stricter approval criteria

Everyone has to start somewhere! 

We work with specialist lenders who can help you get approved for your first car loan. If you can demonstrate that you’re earning a comfortable living, have positive savings habits and are stable in your job and home life, then you should be on the way to getting your new wheels.

There is no single “pass or fail” credit score across all lenders.

Different lenders assess applications differently, but generally stronger scores may improve finance options, interest rates, and approval flexibility.

Lenders also assess:

• income 
• affordability 
• employment 
• existing debts 
• repayment history 

not just your score alone.

Fixed - The rate offered will be locked in for the duration of your loan agreement, meaning your repayments will remain consistent through the loan period.

Variable - The rate is left open to potential change by your lender and fluctuation in the market. 

It’s worth carefully considering which you’d prefer when comparing car loan options.

Lenders often review:

• income consistency 
• gambling transactions
• ATM Withdrawls 
• Buy Now Pay Later usage 
• dishonour fees 
• missed repayments 
• spending habits 
• savings conduct 

Good account conduct may help strengthen applications.

Not automatically.

Responsible use and on-time repayments may help build positive credit history however, high balances or multiple credit cards may negatively impact affordability.

Potentially, yes.

Some lenders may consider applicants after discharge from bankruptcy depending on:

• time since discharge 
• current financial stability 
• income 
• repayment history 

Options may be more limited depending on the circumstances.

Income is only one part of lender assessment.

Lenders may also assess:

• Credit history 
• Existing debts 
• Living expenses 
• Employment stability 
• Probation periods 
• Gambling transactions 
• Buy Now Pay Later accounts 
• Recent finance applications 
• Visa or residency status 

Many applicants are surprised to learn they can still be declined despite strong income if other parts of the application create lender concerns.

Many migrants arrive in Australia with strong careers and excellent overseas financial history, however lenders may still become cautious due to:

• Limited Australian credit history 
• Temporary visa restrictions 
• New employment 
• Limited time in Australia 
• Overseas income history 
• Lack of Australian borrowing activity 

Choosing a lender that understands migrant and visa-holder applications can make a significant difference. Check out our page finance for migrants

In many cases, yes.

Australian lenders generally cannot directly assess overseas credit scores the same way local lenders in your home country can.

This means many migrants and returning Australians effectively start again with limited Australian credit history after arriving.

In many cases, yes.

Having little or no credit history is often viewed differently to having missed repayments, defaults, or poor repayment conduct.

Many first-time borrowers simply haven’t had the opportunity to build a credit profile yet.

Some lenders may still consider applicants with:

• Stable employment 
• Good savings habits 
• Strong bank account conduct 
• Consistent income

Potentially, yes.

Many lenders review bank statements to assess overall financial behaviour and affordability.

Frequent or high gambling activity may create concerns around financial stability and responsible spending patterns.

Every lender assesses bank statement conduct differently.

Not all our lenders will ask for Bank statements however, they help lenders assess:

• Income consistency 
• Spending habits 
• Existing commitments 
• Savings conduct 
• Buy Now Pay Later usage 
• Gambling activity 
• Missed repayments or dishonour fees 

Good account conduct may help strengthen an application.

Potentially, yes.

Every formal finance application may create a credit enquiry on your file.

Multiple enquiries within a short period can sometimes reduce credit scores and make lenders more cautious about future applications.

This is why understanding your options before applying is important.

Check out our blog - The Hidden Damage Caused by Poor Finance Application Strategy

Probation periods can sometimes create uncertainty for lenders because employment is considered less established during this time.

However, some lenders may still consider applicants who are:

• Newly employed 
• Starting a new role 
• Continuing or returning to a previous industry 
• Working in stable professions 

Every lender has different employment policies.

Potentially, yes.

Some lenders may consider applicants with:

• Signed employment contracts 
• Confirmed start dates 
• Stable industry history 
• Strong previous employment background 

This is common for migrants, returning Australians, and people relocating interstate.

Australian lenders are legally required to assess whether repayments are affordable.

This means lenders review spending patterns such as:

• Rent 
• Utilities 
• Subscriptions 
• Food and entertainment 
• Existing debts 
• Buy Now Pay Later repayments 

High living expenses may reduce borrowing capacity even where income is strong.

All lenders assess remaining visa term because they want to ensure applicants are likely to remain in Australia for the duration of the loan.

All lenders have minimum visa-term requirements.

A broker may help:

• Identify lenders suited to your situation 
• Reduce unnecessary credit enquiries 
• Explain lender policies clearly 
• Compare finance options 
• Assist with complex applications 

This can be particularly valuable for migrants, first-time borrowers, and applicants with unique circumstances.

Building a strong credit profile usually involves:

• Making repayments on time 
• Avoiding unnecessary finance applications 
• Managing debts responsibly 
• Keeping accounts in good standing 
• Demonstrating stable financial behaviour over time 

Positive Credit Reporting means lenders may now also see positive repayment conduct, not just missed payments however, not all lenders use it and therefore you could think you are building when you are not.

Factors that may negatively impact credit scores include:

• Missed repayments 
• Defaults 
• Multiple finance applications 
• High debt levels 
• Bankruptcy 
• Court judgments 
• Frequent credit enquiries 

Responsible financial behaviour may help strengthen your profile over time.

Potentially, yes.

Every formal refinance application may create a credit enquiry on your file

.

However, refinancing may also improve financial position in some situations by:

• reducing repayments 
• consolidating debts 
• improving affordability 

The key is applying strategically with suitable lenders by using a broker.

Yes  - having one income doesn’t automatically mean you will be declined for finance. Lenders assess your overall borrowing capacity based on income, living expenses, existing debts, dependants, and credit history. In many cases, single-income households are approved when the application is structured correctly and the repayments are affordable.

If you are unsure how much you may be able to borrow, it’s important to understand how lenders calculate affordability and risk.

Why One Income Often Isn’t Enough (Even for a Small Loan)

How Lenders Calculate Borrowing Power in Australia

A high income alone doesn’t guarantee approval. Lenders also assess your expenses, existing debts, credit cards, Buy Now Pay Later accounts, dependants, and overall financial commitments. 

Sometimes borrowers are declined because their monthly commitments reduce their borrowing power more than expected.

Every lender has different assessment criteria, which is why getting the right guidance can make a significant difference.

Read more: How Lenders Calculate Borrowing Power in Australia

Yes — lenders carefully review household expenses as part of the application process. This includes rent or mortgage payments, groceries, utilities, subscriptions, childcare, transport, and other regular commitments. 

Even if your income is strong, high living expenses can reduce borrowing power.

Most lenders also use minimum benchmark expenses when calculating affordability.

Read more: How Lenders Calculate Borrowing Power in Australia

Yes — Buy Now Pay Later services such as Afterpay, Zip, Klarna, and Humm can affect your finance application. Even small repayment commitments may reduce borrowing power because lenders treat them as ongoing liabilities.

Some lenders may also view multiple BNPL accounts as a sign of financial stress, particularly if they are heavily used.

Read more: How Lenders Calculate Borrowing Power in Australia

Yes — lenders assess the credit limit on your card, not just the current balance. Even if the card is fully paid off, the available limit may still reduce your borrowing capacity because lenders assume the limit could be used at any time.

Reducing unused credit card limits before applying can sometimes improve borrowing power.

Read more: How Lenders Calculate Borrowing Power in Australia

Yes — many temporary visa holders can access finance in Australia depending on their visa type, employment status, income, and residency history. 

Different lenders have different policies, and some are more flexible with visa applicants than others.

Working with a broker who understands visa lending policies can help improve your options.

Read more: Loans for Visa Holders and New Arrivals in Australia

Many lenders consider applications from holders of skilled work visas, partner visas, bridging visas, and permanent residency pathways. 

Approval depends on factors such as visa duration, employment stability, and overall financial position.

Each lender has its own visa policy and lending criteria.

Read more: Loans for Visa Holders and New Arrivals in Australia

Yes — some lenders can assess applications from borrowers who are new to Australia and may not yet have an Australian credit file. 

In these situations, lenders may place more emphasis on employment, income stability, savings history, and bank conduct.

Having supporting documentation can strengthen your application.

Read more: Loans for Visa Holders and New Arrivals in Australia

Many lenders prefer applicants to have a reasonable amount of time remaining on their visa, although requirements vary between lenders. In all cases, lenders require the loan term to finish before the visa expiry date.

The right lender selection is important for visa-holder applications.

Read more: Loans for Visa Holders and New Arrivals in Australia

Yes — many new migrants successfully obtain car finance in Australia. Lenders will typically look at your employment, income, residency status, and ability to comfortably manage repayments.

Read more: Loans for Visa Holders and New Arrivals in Australia

Lenders generally review your income, employment, living expenses, existing debts, credit history, and overall ability to comfortably manage repayments. 

They may also review bank statements and recent financial conduct.

Understanding these factors before applying can help improve your chances of approval.

Read more: How Lenders Calculate Borrowing Power in Australia