Frequently Asked Questions
Q: What can I get a Loan for?
A: Holiday?! Unexpected Bills?! Fix or Buy a Car?! Birthday, Christmas?! Whatever the reason, you'll be better off with a loan from Real Finance.
Q: How much can I borrow?
A: Our loans range from $200 ~ $20,000, or up to $2,000,000 through our External Lenders.
Q: How long can I have to repay the Loan?
A: We offer terms of between 1-36 months (longer through our External Lenders) depending on the type of loan and amount borrowed.
Q: Is there a minimum age for applying for finance?
A: You need to be at least 18 years of age to apply.
Q: What are my repayment options?
A: Pay us when you get paid! We accept Weekly, Fortnightly & Monthly (day of month or even end of month) repayments.
Q: How can I make repayments?
A: Real Finance prefers Direct Debits, but you can pay by cash at our branches, deposit at any of 179 BNZ branches nationwide, All Smart ATM Machines, deduct it from your salary, or via Automatic Payment.
Q: Do I have to be a New Zealand Resident?
A: Yes, you need to be a permanent resident of NZ.
Q: Do I have to have excellent credit?
A: No you don't have to have excellent credit, but good credit helps.
Q: What if I have bad credit?
A: If you have really bad credit, we may ask for you to provide a suitable guarantor or additional security.
Q: What if I am currently in bankruptcy or NAP (No Asset Procedure)?
A: You must disclose this to us at the time you apply for finance.
Q: Can I pay off a Loan faster?
A: Yes! Unlike some companies,we don't penalise you if you want to make higher repayments, and your full repayment is used to reduce your balance and calculate the interest that should be charged to your account.
Q: Do you charge to pay off the Loan early?
A: We charge an early settlement fee on all Loan products except Short Term loans, but paying off quicker still saves you a lot in interest and administration Fees (if applicable).
Q: What is Security and/or Collateral?
A: Security (also called collateral) can be Household Chattels, Vehicles, Boats, Property etc, so long as it is owned in your name/s and is not on finance elsewhere (or will be paid off by the funds we lend you).
We cannot use essential items such as Washing Machines, Cooking Equipment, Beds, Clothing, Kids Toys etc - unless you are using the loan to buy the item brand new from the store.
Q: What if I don't repay the loan?
A: If you miss a loan repayment we'll notify you straight away. If you stay in default, then we'll send you a pre-possession notice and after 15 days (if you still have not made contact), we'll repossess any security and sell it to recover the loan's balance, including the cost of any repossession expenses. If there is a still a balance after that or if you did not use security to begin with, then we may take you to Court to obtain a judgment against you, and have your loan repaid via court order.
Q: How can I avoid Repossession and possibly Court?
A: The best way to avoid this is to simply make your repayments, but if you encounter any issues during the course of your loan, you should contact us on 0800 21 21 21 or via any other contact method outlined in your contract documentation as soon as possible.
Q: What should I do if my contact or employment details change?
A: If you change any details you should contact us straight away with and provide any new information, along with any new phone numbers or other contact details.
Q: How much can I borrow with a Personal Loan?
A: Our Personal Loans range from $500 ~ $20,000, or up to $100,000 through our External Lenders.
Q: Do I need security for a Personal Loan?
A: Most of our Personal Loans are secured by your own things, but we will also accept a suitable guarantor.
Q: What are the repayment terms for a Personal Loan?
A: Our terms can be flexible (1 to 36 months, or higher through our External Lenders), but most contracts are over 10 months, as this provides the best balance between repaying quickly, and keeping your repayment amounts manageable.
Q: Who do you lend Short Term loans to?
A: We believe we have a moral and ethical responsibility to remove high interest payday lending options from New Zealand. We will only consider "payday lending" to existing Real Finance clients in order to settle or avoid high interest lending elsewhere.
Q: How much can I borrow with a Short Term Loan?
A: Our Short Term Loans range from $200 ~ $1,000
Q: What do I need to provide?
A: A settlement statement from the other company, and your assurance that you won't go back. This is simply because we want to reduce your dependence on high interest loans and break the cycle of dependence we see every day as a result of these lenders.
Q: Do I need security for a Short Term Loan?
A: Most of our Short Term Loans are secured, but we will also lend to someone with a great credit history without security.
Q: What are the repayment terms for a Short Term Loan?
A: Repay us on the same day as you get paid, whether it's weekly, fortnightly or monthly. Short Term Loans must be repaid within two months.
Q: Can I pay off a Short Term Loan Early?
A: Yes you can repay in full at any time and there's no fee!
Q: Who do I talk to about getting a Short Term loan?
A: Simply contact the same team member who you normally deal with, or any of the team!
Q: How much can I borrow with a Car Loan?
A: Our Vehicle Finance range from $2,000 ~ $20,000, or up to $50,000 through our External Lenders.
Q: Do I need security for Vehicle Finance?
A: Yes! All Vehicle Finance is secured (The purchase is the security in most cases), but we will accept a suitable guarantor if you don't have enough security.
Q: Do I have to have a deposit?
A: We base our lending off the value of your security, (and budget of course) so if you do not have a deposit it's not the end of the world but you'll have to have more security to offer in order to have your application approved.
Q: What are the repayment terms for Vehicle Finance?
A: Our terms are flexible and most contracts are between 6-36 months, or higher through our External Lenders.
Q: How much can I borrow with Debt Consolidation?
A: Our Debt Consolidation ranges from $2,000 ~ $20,000, or even up to $2,000,000 through our External Lenders using adequate property security.
Q: Do I need security for Debt Consolidation?
A: Yes! Debt Consolidation loans need to be secured, but we will accept a suitable guarantor if you don't have enough security of your own.
Q: What are the repayment terms for Debt Consolidation?
A: Our terms can be flexible to suit your budget, and most contracts are between 6-36 months, or up to 10 years through our External Lenders.
Q: How much can I borrow with a Business Loan?
A: Our Business Loans range from $5,000 ~ $20,000, or up to $100,000 through our External Lenders. We can also offer Asset Finance of up to $300,000.
Q: Do I need security for a Business Loan?
A: Yes, but we will accept all sorts of security. Contact us today to talk to our team about options.
Q: Is the information needed for a Business Loan the same as for a Consumer Loan?
A: We require a little more information than normal consumer lending to lend to businesses. Contact us today to talk to our team in more depth.
Q: What are the repayment terms for a Business Loan?
A: Our terms can be flexible to suit your cash flow, or set in order to reduce the debt rapidly, saving you money.