• FAQs - Loan Applications | Yes Finance
    How much can
    I borrow?

Frequently Asked Questions

How old do I have to be?

You need to be at least eighteen years of age.

How long does it take?

We have designed our online application to collect the smallest amount of initial information to enable us to do a quick assessment to see if we can help you.

If we can assist you we will ask you to complete a more detailed application.

Nobody likes filling in forms but the more effort and detail you put into completing the application the quicker we can get back to you with an answer. If you would rather us call you to complete an application we are happy to do that.

Most loans can be approved in just one day and we will contact you as soon as we have a decision for you. For car loans we can usually get back to you within an hour during normal business hours. If you get stuck our experienced lenders are only a call away to help you with any questions you may have.

Why do I need to provide so much information?

The more information we collect the faster we can make a decision. The information we collect helps us build a picture of who you are and what you are wanting to do. If we meet with you personally we can collect this information as a part of an interview process. With an online application we have to layout all the questions we need to ask. It is a lot of information but it is necessary.

Identity fraud is also on the rise so asking a lot of questions about you, that we can verify, protects you.

What interest rate will I be charged?

Our interest rates are competitive and vary depending on many factors including the amount of lending, the term of the loan, size of deposit, customer credit history and risk profile.

For Personal Loans interest rates vary from 14.9% p.a. to 29.9% p.a.
For Car Loans interest rates vary from 9.9% p.a. to 22.9% p.a.
For Debt Consolidation Loans interest rates vary from 14.9% p.a. to 29.9% p.a.
For Boat Loans interest rates vary from 9.9% p.a. to 22.9% p.a.

For more detail on fees visit our Standard Administration Fees and Charges

Will you check my credit?

Yes we will. Your credit report will tell us about your credit history, however we will not let it define your credit future. If you have had some credit issues in the past we will listen to your explanation of the circumstances surrounding them. If you have sorted them out or are getting them sorted we may still be able to help you.

If you have a history of consistently not paying your bills we won’t be lending you money. It’s that simple really.

How do we verify Your income?

As a Responsible Lender, we need to ensure you can comfortably afford your Loan Repayments. In order to do this, we analyse your most recent Bank Statements.

How do I verify my income?

To verify your income, and offer quick decision, we use a secure service, provided by New Zealand’s leading credit agency – Illion, that retrieves an electronic copy of your bank statements and analyses your income and expenses.
As part of the application process, you will be asked to enter your internet banking credentials. This process does not give us access or control over your bank accounts.
We never see or store your banking credentials; they are encrypted by illion, passed to your bank who will provide us with read-only copies of your bank statements, and then deleted permanently.

What if I don’t want to use this service?

If you do not wish to use this service, we will not be able to provide as quick a decision, but you can still verify your income using the following steps:
Email your bank statements. This option may increase the amount of time it takes to process your loan application. Login to your Internet Banking, download your statements in PDF format, and email them through to your approver’s email address or to applications@yesfinance.co.nz

How long can I borrow for?

Yes Finance loans are generally on terms from one to three years. We will work with you to set a term that suits you and your budget.

How much can I borrow?

Yes Finance generally lends funds for personal loans from $1000 to $25,000. This amount can be more depending on the situation and security used. For business loans we will look at loans for any amount.

Do I need security?

In most cases, yes. Our loans are commonly secured by motor vehicles, boats, caravans, household chattels, property caveat, or a combination of them. If you are borrowing to purchase an asset we can use that asset as security or partial security for the loan.

We do offer unsecured loans up to $2,000. To qualify for an unsecured loan you must be in stable employment with sufficient income and have no prior adverse credit history.

What if I owe money on my security?

If you still owe money on your car/chattel we may still be able to advance more funds depending on the amount owed. It is possible to consolidate this debt and advance more depending on the equity in the security.

What is a Secured Personal Loan?

A secured loan is a loan where the borrower provides an asset (e.g. a car or property) as security for the loan. This may be provided by a partner or relative who would become a party to the loan as a co-borrower or guarantor. Providing good security allows you to borrow up to in some instances100% of the value of the asset and will reduce the interest rate on your loan.

What is an Unsecured Personal Loan?

An unsecured loan is when there is no requirement for you to provide any collateral or security for a loan. Typically, this means that the amount you can borrow is less and the interest rate charged is normally higher. Yes Finance provides unsecured loans of up to $2,000. To qualify for an unsecured loan you must be in stable employment with sufficient income and have no prior adverse credit history.

What is a Pre-approved Loan?

If you are wanting to purchase a vehicle, boat, caravan or almost anything but need to know if you can get the finance to pay for it, Yes Finance can give you a pre-approved personal loan.

Having a pre-approved loan will enable you to shop around for your purchases with the knowledge that your finance is already secure. Pre-approved loans are valid for 30 days from date of approval.

Can I apply for a car loan with a learner’s driver’s licence?

No, the minimum driver’s licence we require is a restricted licence.

Can I buy from an auction?

Yes. With a pre-approved loan you can buy either privately, from an auction, TradeMe or from a motor vehicle or boat dealer.

What is a Chattel?

A chattel is a moveable possession, like furniture and personal effects (as opposed to a house or land).

What is a Caveat?

This is a registered charge against a property (land) that entitles Yes Finance to register a 1st or additional mortgage over the property. The property is therefore security for the loan.

What is Payment Protection Insurance?

This insurance will cover your payments if you are unable to work due to sickness or accident and can include a payment plan for redundancy. The cost is conveniently included with your repayments. Certain conditions apply.

What is Consumer Protection Insurance?

This insurance will cover you for the unforeseen sudden accidental physical loss of or damage to the chattel occurring anywhere in New Zealand, unless the cause is excluded.

Can Yes Finance arrange car insurance?

Yes we can. Talk to our experienced lenders when discussing your loan application.

Does my vehicle need to be insured?

Yes.

How do I make payments?

Our preference is to set up a direct debit from your bank account. We also accept automatic payments or a wages deduction set up with your employer. Your repayments can be made weekly, fortnightly or monthly and generally coincide with your pay.

What should I do if I cannot make a payment?

If you find yourself in difficulty with your payments please phone us. We are more than happy to talk this through with you and work with you on a suitable payment arrangement. You also may be eligible to make a claim under the income protection insurance if it is included in your loan.

What if I want to make a complaint?

If you have a complaint, we would like to know. We will 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 Yes Finance on 0508 10 50 10 or 09 278 9161 or email complaints@yesfinance.co.nz
Post to: Yes Finance Limited, P O Box 23008, Hunters Corner, Auckland 2155
If we cannot resolve your issue immediately, here is 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 5 working days of receiving it.

2. We aim to have your complaint resolved within 5 days and will email or write to you outlining the resolution. If we are unable to resolve your complaint within 5 working days we aim to resolve it within 20 working days.

3. In the event that we cannot resolve your complaint within 5 working days, we will write to you advising you why we require more time to resolve your complaint.

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 to which we belong. 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, or email info@fscl.org.nz
Post to: FSCL, P O Box 5967, Wellington 6145

What if I want to sell my asset used as security?

If you want to sell or refinance any of your property, vehicle, boat or chattels that have been used as security for your loan, contact us immediately prior to selling it. In order to pass on clear title we may require that your loan be settled from the sale of the property or that you provide alternative security acceptable to us. We are often able to transfer our security to another property.

I can’t find what I’m looking for.

If you have any questions, can’t find the answer on our site, want to know more about the process, or information you’re asked to provide, give our personal lenders a call on 0508 10 50 10 or send us a message.

What is the NZTA Motor Vehicle Register?

The Motor Vehicle Register records information about vehicles used on New Zealand roads and the persons responsible for their use.
For further information visit ‘The Motor Vehicle Register’.

Opting – out of the Motor Vehicle Register

Individuals that do not want their name and address to be released to us without first having their privacy interest considered may ask for their details to be withheld. This is called ‘opting-out’.
For further information visit ‘Who can access register information’.

What is the PPSR?

The Personal Property Securities Register (PPSR) is an electronic register that allows security interests in personal property to be registered and searched in accordance with the New Zealand Personal Property Securities Act 1999.
For further information visit ‘What is the PPSR all about’.

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I have been with Yes Finance for like 11 years and every time i need a car travel and extra Y/F has helped me 100%. I love being Y/F client. wouldn't have any other way

Shylo D

Yes Finance Limited
2019-05-09T22:29:05+00:00

Shylo D

I have been with Yes Finance for like 11 years and every time i need a car travel and extra Y/F has helped me 100%. I love being Y/F client. wouldn't have any other way
I would like to thank you Toni for your support and understanding when my family had a change of circumstances hehehe well more than once.It has been fantastic service for the time that the car was on finance thank you again.

Kohu T

Yes Finance Limited
2019-04-15T03:50:32+00:00

Kohu T

I would like to thank you Toni for your support and understanding when my family had a change of circumstances hehehe well more than once.It has been fantastic service for the time that the car was on finance thank you again.
Would definitely recommend these guys yes finance very good customer services well mannered and supportive only a couple of days and loan is approved like #BANG if it wasnt for yes finance I wouldn't of had a better xmas thank you Yes Finance

Shan M

Yes Finance Limited
2019-05-09T22:31:30+00:00

Shan M

Would definitely recommend these guys yes finance very good customer services well mannered and supportive only a couple of days and loan is approved like #BANG if it wasnt for yes finance I wouldn't of had a better xmas thank you Yes Finance
Awesome company amazing fast service. I’ll like to thank you so much Shweta Kashyap for your awesome service you helped me out so much and I can’t thank you enough!!
You went above and beyond for me!!! I highly recommend yes finance.

Tina T

Yes Finance Limited
2019-05-09T22:25:38+00:00

Tina T

Awesome company amazing fast service. I’ll like to thank you so much Shweta Kashyap for your awesome service you helped me out so much and I can’t thank you enough!! You went above and beyond for me!!! I highly recommend yes finance.
AWESOME (even with the interest)!!!!!!! I can’t wait. I will let you know when I have everything. Thank you so much for your efficiency, friendliness and help. I really appreciate it.

Karyn G

Yes Finance Limited
2019-04-15T04:19:31+00:00

Karyn G

AWESOME (even with the interest)!!!!!!! I can’t wait. I will let you know when I have everything. Thank you so much for your efficiency, friendliness and help. I really appreciate it.
Painless process. Excellent service and very, very, quick turnaround from a query to approval. Thank you so much!

Barbara P

Yes Finance Limited
2019-10-22T00:40:15+00:00

Barbara P

Painless process. Excellent service and very, very, quick turnaround from a query to approval. Thank you so much!
Hi Anji
Thank you for the excellent service!!!

Timothy M

Yes Finance Limited
2019-10-17T20:51:24+00:00

Timothy M

Hi Anji Thank you for the excellent service!!!
I would like to thank you for help with my loan application. My husband & I appreciate your hardwork and dedication towards sealing the deal on Monday despite the cut off time you still managed to pull it through!

Nikita H

Yes Finance Limited
2019-04-15T04:20:47+00:00

Nikita H

I would like to thank you for help with my loan application. My husband & I appreciate your hardwork and dedication towards sealing the deal on Monday despite the cut off time you still managed to pull it through!
I would give 100/100 to Yes Finance. Really helped me out. Fast and efficient. Thanks alot Ajeshni for your continuous help really appreciate your hard work and effort. Highly recommend others to use YES FINANCE.

Zaliya M

Yes Finance Limited
2019-05-09T22:30:22+00:00

Zaliya M

I would give 100/100 to Yes Finance. Really helped me out. Fast and efficient. Thanks alot Ajeshni for your continuous help really appreciate your hard work and effort. Highly recommend others to use YES FINANCE.
Awesome! Thanks again for being patient with me.
You made this process so easy for me and highly recommend your services!

Talia P

Yes Finance Limited
2019-10-16T21:21:49+00:00

Talia P

Awesome! Thanks again for being patient with me. You made this process so easy for me and highly recommend your services!
Thanks so much for all your kind assistance rendered since the beginning of this year. I think out of all the financials I’ve dealt with during my time of financial hardship, I can boldly say that Yes Finance has been the only finance company who has dealt with me as a person and not just someone to abuse to pay more.

Nunia

Yes Finance Limited
2019-04-15T04:17:33+00:00

Nunia

Thanks so much for all your kind assistance rendered since the beginning of this year. I think out of all the financials I’ve dealt with during my time of financial hardship, I can boldly say that Yes Finance has been the only finance company who has dealt with me as a person and not just someone to abuse to pay more.
Please disregard my previous review, just wanted to say thank you to the Manukau branch manager and team for calling me back, had a talk, appreciate your help & honesty. Had problem with an account before now its all sorted, I really appreciated it 🙂 .He explained everything and apologies to me now I am happy with the outcome 🙂 . Building connection with customers is important to any company out there get to know them and understand their situations. . .Thank you to Yes and team esp their manager for your understanding and support. . . . God bless

Lesu

Yes Finance Limited
2019-12-02T23:12:01+00:00

Lesu

Please disregard my previous review, just wanted to say thank you to the Manukau branch manager and team for calling me back, had a talk, appreciate your help & honesty. Had problem with an account before now its all sorted, I really appreciated it 🙂 .He explained everything and apologies to me now I am happy with the outcome 🙂 . Building connection with customers is important to any company out there get to know them and understand their situations. . .Thank you to Yes and team esp their manager for your understanding and support. . . . God bless
Just wanted to say thank you to yourself and please pass it on to Graeme and the rest of the team for helping us over the past few years – you have obviously been a great help for us and it has allowed us to get into a much better position.

Kris

Yes Finance Limited
2019-04-15T02:45:05+00:00

Kris

Just wanted to say thank you to yourself and please pass it on to Graeme and the rest of the team for helping us over the past few years – you have obviously been a great help for us and it has allowed us to get into a much better position.
They are amazing to deal with very Polite friendly helpful.
Fully reccomend them to anyone looking for a loan of any sort. Extremely quick also

Christine J

Yes Finance Limited
2019-05-09T22:27:30+00:00

Christine J

They are amazing to deal with very Polite friendly helpful. Fully reccomend them to anyone looking for a loan of any sort. Extremely quick also
Awesome customer service - treated as a human being not a number

Diana C

Yes Finance Limited
2019-10-22T00:43:49+00:00

Diana C

Awesome customer service - treated as a human being not a number
Just a short note to acknowledge receipt of payment, and to thank you for your top service.

Peter Smith

Yes Finance Limited
2019-04-15T02:43:39+00:00

Peter Smith

Just a short note to acknowledge receipt of payment, and to thank you for your top service.
You advertised a great deal on the radio and promised great service and I received all of the above. Your team are true professionals!

C Walsh - Hamilton

Yes Finance Limited
2019-04-15T04:16:19+00:00

C Walsh - Hamilton

You advertised a great deal on the radio and promised great service and I received all of the above. Your team are true professionals!
Thanks for sending through the paper work – I received it yesterday. I also wanted to thank you for the great customer service you provided, and also the Events Cinema card (awesome!). If only more companies offered such great service!

De Wet

Yes Finance Limited
2019-04-15T04:18:31+00:00

De Wet

Thanks for sending through the paper work – I received it yesterday. I also wanted to thank you for the great customer service you provided, and also the Events Cinema card (awesome!). If only more companies offered such great service!
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