Frequently Asked Questions

In many cases, no deposit is required. Depending on your circumstances, you may be able to borrow o 100 percent of the vehicle purchase price, including extras such as insurance and warranties. Loans typically start from $5,000 upwards depending on the lender. That said, providing a deposit can sometimes improve your interest rate or approval chances, particularly for applicants with limited Australian credit history.

There is no single credit score that guarantees approval across all lenders. Each lender sets its own risk criteria, and applications are assessed on income, employment, existing debts and repayment history, not credit score alone. Generally, a higher score improves your options and rate, but many lenders will still consider applicants with fair or limited credit history, particularly migrants and new arrivals.

Starting an assessment is easy. Visit our loans page, choose the loan you need, and select start an assessment, or click here to begin. Alternatively, send us a message, call us on (07) 3916 9440, or visit our office to speak with an experienced consultant about your available loan options. Royston Finance provides a no obligation, hassle free quotation so you can 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 approved within hours, depending on your situation.

Most finance brokers and dealerships in Australia charge a brokerage fee for their services. 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 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 before you proceed 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 your loan terms carefully before proceeding.

Yes, we can accommodate short term employment, though it depends on your previous role, the role you are starting, and how long you have been continuously employed and on what basis. It is best to check your personal circumstances with our specialist team.

Yes, we could potentially secure finance for you even if you have not lived in Australia before, or if you are returning to the country after a period of absence. We often work with new arrivals, whether they are here permanently or temporarily on a visa. We have built strong relationships with specialist lenders and know exactly what they require to get loans approved. Check out our finance for new arrivals page.

While most of our customers purchase their cars through a dealership, we also have options for customers who prefer a private sale. Some lenders require more documentation for private sales, and most apply a higher interest rate. We know the process well and can guide you through it. It is also worth noting that dealership finance is often more expensive than using a brokerage service like Royston Finance, since it can be more restrictive and carry hidden fees.

Some dealerships use what is known as a shotgun application, 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 your future borrowing power.

Potentially, yes. Every formal finance application may create a credit enquiry on your file, and multiple applications within a short period can reduce your credit score and make future approvals more difficult. This is why it is 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 a longer employment history, while others may consider:

• day one employment
• probation employment
• recently commenced roles
• employment contracts

Stable industry history and consistent income may help strengthen your application.

Potentially, yes. Lenders may assess:

• time in your current role
• 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. Using these services does not automatically mean you will be declined, but multiple active accounts or high repayment commitments may reduce your 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
• your current financial position
• your 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 are earning a comfortable living, have positive savings habits, and are stable in your job and home life, you should be well on your 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 your finance options, interest rates, and approval flexibility. Lenders also weigh other factors, including income, affordability, employment, existing debts, and repayment history, not just your score alone.

A fixed rate is locked in for the duration of your loan agreement, so your repayments stay consistent throughout the loan period. A variable rate can change over time, depending on your lender and movements in the market. It is worth carefully considering which option suits you when comparing car loan choices.

Lenders often review:

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

Good account conduct may help strengthen your application.

Not automatically. Responsible use and on time repayments may help build a positive credit history. However, high balances or multiple credit cards may negatively impact your 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 your circumstances.

Yes, many lenders offer finance to self employed applicants and ABN holders. You will typically need to provide additional documentation such as recent tax returns, BAS statements or an accountant's letter to verify income. Some lenders also offer low documentation loan options for self employed applicants who cannot provide full financials.

Unfortunately not. Working holiday visas, such as Subclass 417 or 462, are not accepted by our lending panel due to their short and temporary nature. If you hold a different visa type, or are unsure of your eligibility, check our visa list or speak with our team directly.

Yes, Royston Finance is licensed to operate across every state and territory in Australia. While our office is based in Brisbane, Queensland, we work with clients Australia wide, including Sydney, Melbourne, Perth, Adelaide and regional areas, all managed remotely by phone and online.

A novated lease is a three way agreement between you, your employer and a financier, where your car payments and running costs are deducted from your pre tax salary. Unlike a standard car loan, this can offer tax and cash flow benefits depending on your circumstances. Learn more on our novated lease page.

Yes, this is common for new arrivals. If you do not yet hold an Australian driver's licence, you can select "No" in your application and upload your overseas licence instead. This is assessed accordingly and will not automatically disqualify your application.

In many cases, yes. Most lenders assess permanent residents similarly to Australian citizens, focusing on income, employment, credit history and affordability rather than residency status alone. Some lenders may have specific policies for newer permanent residents, so lender selection can make a difference.

As a new arrival, you will typically need your passport, visa details, proof of address in Australia, and evidence of income such as an employment contract or recent payslips. If you do not yet have an Australian driver's licence, your overseas licence can be used instead. Our team will confirm the exact documents required for your specific situation.

Student visas are generally considered higher risk by our lending panel due to their temporary nature and study commitments, and are not accepted. If you are on a student visa and unsure of your options, check our visa list or speak with our team directly.

Some lenders will consider applicants on a bridging visa, depending on the visa subclass, how long you have held it, and your employment and residency history. Bridging visas can be more complex to assess, so speaking with a specialist broker who understands lender policy in this area can make a real difference.

This depends on your circumstances. Dealership finance can be convenient, but is often more restrictive and may carry higher rates or hidden fees. A broker compares options across a panel of lenders, which can help you access better rates and terms, particularly if you are a migrant, visa holder or first time borrower.

This varies depending on your circumstances and the lender. Some applications can be approved within hours, while others may take a few business days if additional documents or clarification are required. Staying contactable and responding quickly to requests generally leads to a faster outcome.

Your loan obligations continue regardless of where you live, so it is important to plan for ongoing repayments if you intend to leave Australia. In some cases, refinancing, selling the vehicle, or making early repayment arrangements may be options. If your circumstances change, speak with our team as early as possible to discuss what is available to you.

Yes. We work with clients all over the world who are planning their move to Australia, and can begin your assessment before you land. Getting approved early means you can know your budget in advance and avoid pressure once you arrive. Read more on our approval before arrival page.

Potentially, yes, although a stable residential address can improve your options. Many new arrivals start out in temporary accommodation such as short term rentals or staying with family, and some lenders will still consider your application depending on your overall circumstances. This is very common for migrants and will be assessed accordingly.

Yes, many of our lenders offer finance for electric and hybrid vehicles, sometimes with different terms or incentives compared to standard vehicles. As EV options continue to grow in Australia, lender policies can vary, so it is worth discussing your specific vehicle with our team.

Yes, we arrange finance for a range of leisure vehicles including caravans, motorbikes, jet skis and boats, not just cars. Lending criteria can differ from standard car finance, so speak with our team about your specific vehicle. Learn more on our leisure finance page.

Yes, all lenders require comprehensive insurance for the life of the loan, since the vehicle is used as security. This protects both you and the lender if the car is damaged, stolen or written off. Insurance costs can sometimes be included in your finance.

If you are struggling to make a repayment, contact your lender as early as possible, most have hardship processes to help. Missed repayments can affect your credit file and may lead to additional fees, so early communication is important. Our team can also help guide you if you are unsure who to contact.

Lenders in Australia report to one or more credit reporting bodies, including Equifax, Experian and illion. Which one is used depends on the individual lender, not the broker. You can usually request a free copy of your credit report directly from these bodies at any time.

Lenders in Australia report to one or more credit reporting bodies, including Equifax, Experian and illion. Which one is used depends on the individual lender, not the broker. You can usually request a free copy of your credit report directly from these bodies at any time.

A balloon payment is a lump sum due at the end of your loan term, which lowers your regular repayments but leaves a larger final amount to pay, refinance, or settle through the sale of the vehicle. Whether this suits you depends on your budget and plans for the car, so it is worth discussing with our team before choosing this structure.

This depends on the lender, and some may require a full licence before approving finance. If you are a first time borrower with a provisional licence, speak with our team to understand which lenders may be able to assist.

Yes, we work with migrants from all over the world, though visa pathways and lender policies can differ by nationality and visa type. We have dedicated pages for common groups we assist, including New Zealand citizens, British citizens, South African citizens, Irish citizens, and skilled migrants.

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 finance for migrants page.

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 have not 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 lenders require bank statements, but when they do, this helps them 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. Read 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
• a 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 your remaining visa term, because they want to be confident you 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

Comprehensive Credit Reporting means lenders may now also see positive repayment conduct, not just missed payments. However, not all lenders participate in this scheme, so it is possible to believe you are building credit history 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 your financial position in some situations by:

• reducing repayments
• consolidating debts
• improving affordability

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

Yes, having one income does not 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, households with a single income 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 is important to understand how lenders calculate affordability and risk.

Why One Income Often Is Not Enough (Even for a Small Loan)
How Lenders Calculate Borrowing Power in Australia

A high income alone does not 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. Choosing the right lender 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