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Gold Coast Finance FAQs

How long is the loan for?

Loan terms can vary based on the size of the loan and your financial situation. For cars and caravans we offer loans up to 7 years, while everything else is generally up to 5 years.

Is there a penalty for paying off the loan early?

Normally there is a penalty for paying off a loan early, but this varies from lender to lender.

Can I pay extra just on the principal every month?

Generally yes, certainly for all our consumer loan products. This will reduce the interest paid over the term of the loan.

What can I get a loan for?

We offer Car Loans, Boat, Caravan and Motorbike Loans, even business equipment finance. We can arrange funding for pretty much everything except Home Loans. Even then we certainly have a number of contacts we can put you in touch with.

How long does the loan application take to complete online?

It will only take you 5 minutes to fill out the online loan application.

What information do you need for a loan application?

We will need the applicant's full personal details (name, date of birth, address, contact details etc.), as well as their income and expenses to ascertain the most suitable loan for them.

Once submitted, how long until I find out if I have been approved?

Most of our loans are approved within 24 hours.

Why wasn’t my application approved?

This can be for a number of reasons; the ability to service the loan (not enough income against expenses), previous poor credit history or state of current credit file. We'd be happy to discuss the reasons for any declined application so feel free to contact us with any questions.

How do I increase my chances of getting approved for a loan?

We cover that in a separate article. Learn how to improve your chances of getting a loan.

How much can I borrow? (Minimum & maximum)

Our loans start at a minimum of $5,000. The maximum limit is based on each individual's circumstances.

Do you provide second chance finance?

Yes, we do provide second chance finance but only on secured loans. This means you need to purchase something the lender can take security against, such as a car, caravan, tractor etc.

Do you provide finance outside of the Gold Coast?

Yes, most definitely! We can arrange finance for anyone living within Australia.

What is the interest rate based on?

The interest rate is based on the strength of the applicant and the age of the goods they're purchasing

Can I get a loan for a used vehicle?

Yes, but the newer the vehicle, the better your chances of the loan being approved.

What about a loan for a private sale?

Yes, we can arrange loans for private sales and do so regularly.

Do you provide unsecured finance?

No, our loans must be secured against a purchase.

Do you provide finance for businesses and what are the options?

Yes, we do provide business loans for cars, boats, motorbikes and even equipment loans and invoice funding. Contact us for more information or apply online for a business car loan.

What is the difference between an equipment lease and equipment rental?

A lease is a balance sheet item – which reduces your equity, your ability to borrow and, accordingly, your availability of working capital. Rent is an 'off-balance' sheet item (like salaries or electricity). This means that equipment rental contracts have no impact on your equity, or on your ability to borrow.

Who is Gold Coast Finance?

GCF is locally owned and has operated for over 10 years. We have a diverse range of lenders that can assist with all scenarios our clients have. We promise to make the process as easy and stress free as possible, and in most cases we are more than happy to come to you. We offer a full range of products from Car Loans, Boat, Caravan & Bike Loans for Personal use, to a range of Business and Commercial products for clients that require that piece of equipment they need for their business or a Cash Injection for the Business via our unique Invoice Funding product.