Frequently Asked Questions
General FAQ's
Excellent = 900 - 1,000 credit score with no defaults
Very Good = 800 -899 credit score with no defaults
Average = 500 - 799 credit score with 1 utility default
Poor = 200 - 499 credit score with 2 or more defaults or ex bankrupt or Part IX
* These examples are provided as a guide only. Each situation is different and a credit score is only one part of the assessment puzzle. Being specialists in our field, we pride ourselves on trying to help as many people as we can, no matter what their circumstances are.
As a finance broker, we put a large volume of applications to lenders. Because of this, lenders offer our group wholesale interest rates. It's like shopping at Costco, without the need to buy 400 packets of pasta.
We also get the benefit of being completely independent from the finance companies. This allows us to shop around from multiple lenders to get the best deal. Lenders often fluctuate their interest rates based on the amount of capital they have available to lend, so in respect we can often negotiate great deals with cashed up lenders.
Our interest rates vary depending on the type of loan you need, your credit history, credit score, assets and liabilities. Our rates start as low as 6.19%, subject to the specified criteria above.
No, we don't perform credit checks on all applications.
In fact, our "soft" credit checks don't even leave an enquiry on your file!
We perform these "soft" credit checks so we can gather enough information to be able to direct your application to the lender/s we think will be suitable for your financial position.
If your application is then submitted to a lender, the lender will more than likely perform a hard credit check. This WILL leave an enquiry on your file. Just know that we will not submit your application to a lender unless we have discussed it with you and you have agreed to it.
YES! We have a whole team dedicated to helping customers with bad credit obtain approval for bad credit car loans.
However, we can't help everyone. For all bad credit applications we need to conduct a full assessment. After we've done the assessment, we will ask you the reasons why the bad credit occurred and present the circumstances to the lender. We find that doing so gives us a much better chance of obtaining an approval.
Yes, we can consider applicants on eligible Centrelink benefits.
We CAN consider the following benefits:
- Single Parent Pension
- Aged Pension
- Disability Support Pension (DSP)
- Vet Affairs Payments
- Carers Pension
- Job Seeker
- Newstart
- Youth Allowance
No, we do not offer payday loans or SACCs.
Car Loan FAQ's
Our car loan interest rates vary depending on the age of the vehicle you're buying, your credit history, credit score, assets and liabilities. Our rates start as low as 6.19%, subject to the specified criteria above.
Our application process is quick and simple. You will just need to have the following documents ready to upload to your broker:
- Current drivers licence (back and front pic)
- Two recent payslips
- Last 90 days bank statement
- If Visa holder, we require your current Australian Residency Identification (VEVO) check
Yes, we can finance private sale cars.
When you've put through your application, just let us know that you're looking to finance a car from a private seller and we can ensure that we only use lenders that will help.
Yes, we can organise loans for imported cars!
Once you apply, let your consultant know that you are looking to finance an imported vehicle. This way we can ensure that your application is only put to lenders who specialise in loans for imported cars.
Personal Loan FAQ's
You can usually use a Personal Loan for any one off purchase. For example, but not limited to, a holiday, jetski, house renovations or a vintage car.
You can't use the money for any reoccurring expenses or ongoing payments such as utility bills, school fees or to pay repayments on other loans.
Unfortunately, we are unable to assist with debt consolidation loans.
Caravan Loan FAQ's
Yes, we can finance private sale caravans.
When you've put through your application, just let us know that you're looking to finance a caravan from a private seller and we can ensure that we only use lenders that will help.
Although many caravan loans do not require a deposit, having one can sometimes help reduce the interest rate or strengthen your application. Your broker can advise whether a deposit might be beneficial for your particular circumstances.
With our paperless application and soft credit touch, some customers receive conditional approval within one to two business days. After submitting all required documents, final approval and funding often occur in under a week, though this can vary depending on the lender and complexity of your application.
Yes. If you already have a caravan loan but want better rates or repayment terms, we can look into refinancing. Our brokers compare options from multiple lenders to see if you could lower your monthly repayments or reduce the total interest payable over the life of the loan.
Many lenders strongly recommend comprehensive caravan insurance to protect against theft, accidents, or damage. While it’s not always compulsory, having the right coverage safeguards both your investment and the lender’s interests, ensuring peace of mind throughout the loan term.
In many cases, yes. If you qualify for a certain loan amount, you can often include approved extras—such as awnings, solar panels, or upgraded interiors—so you have a single, consolidated repayment rather than multiple separate expenses.
Generally, being new to caravanning does not impact your eligibility. Lenders focus more on your creditworthiness, income, and financial stability than on your experience. However, having a clear idea of the caravan’s purchase price and any related costs can streamline the application process.
Both terms are often used interchangeably, but there can be a subtle distinction:
A caravan loan generally refers to a specific type of secured personal loan, where the caravan itself is used as collateral. This means if you default on the repayments, the lender may repossess the caravan.
Caravan finance is a broader term that can encompass various financing solutions, such as unsecured personal loans, chattel mortgages, or hire purchase arrangements. It may or may not require your caravan to be offered as security.
Ultimately, the best option for you depends on factors like credit score, deposit, and whether you prefer a secured or unsecured arrangement. A finance broker can help you decide which structure best suits your circumstances.
Caravan loans work by providing you with the funds needed to purchase a caravan, whether new or used.
The loan application process involves submitting necessary documents such as proof of income and identification. Eligibility criteria include a credit assessment, which impacts your loan eligibility and terms. Loan amounts vary based on personal circumstances and credit history.
You can choose between a secured loan, which uses the caravan as collateral, or an unsecured loan. It's important to consider extra costs associated with purchasing a caravan. Comparison rates help you understand the overall cost of the loan, including fees and charges.
The purchase price of the caravan influences the loan conditions, and you have the flexibility to pay off the loan sooner without exit fees.
Motorbike Loan FAQ's
Our motorbike loan interest rates vary depending on the age of the vehicle you're buying, your credit history, credit score, assets and liabilities. Our rates start as low as 6.45%, subject to the specified criteria above.
Yes, we can finance private sale motorbikes.
When you've put through your application, just let us know that you're looking to finance a motorbike from a private seller and we can ensure that we only use lenders that will help.
Our application process is quick and simple. You will just need to have the following documents ready to upload to your broker:
- Current drivers licence (back and front pic)
- Two recent payslips
- Last 90 days bank statement and if on Centrelink, a Centrelink Income Statement
- If Visa holder, we require your current Australian Residency Identification (VEVO) check
Responsive Lending’s motorbike loans typically range from $5,000 up to $100,000, depending on factors like your credit history, income, and the cost of the motorbike. We’ll do our best to match you with a lender that offers a suitable borrowing limit based on your individual financial situation.
Most lenders strongly recommend having comprehensive motorbike insurance to protect both your investment and theirs. Although it’s not always mandatory, insurance provides peace of mind in case of accidents, theft, or damage. We’ll advise you if any particular lender on our panel requires coverage as part of the loan agreement.
Many of the lenders in our panel allow you to bundle additional costs—such as riding gear, accessories, or on‐road costs—into your total loan amount (as long as you meet eligibility requirements). This can simplify your budget by giving you one consolidated repayment instead of multiple separate expenses.
Our paperless application and soft credit checks help speed up the process. In many cases, you can receive conditional approval within one to two business days. Final approval and funding may take a few additional days, depending on how quickly you provide required documents and which lender you choose.
A deposit isn’t typically required, especially if you’re opting for a secured motorbike loan, but having one can sometimes improve your approval odds or secure a lower interest rate. Your broker can advise whether a deposit would be beneficial for your specific circumstances.
If you currently have a motorbike loan but want a better rate or more flexible terms, we can explore refinancing options for you. Our brokers will compare offers from 40+ lenders to see if you could save on monthly repayments or overall interest costs.
Being new to riding generally doesn’t affect your loan eligibility. Lenders focus more on credit score, income, and financial stability rather than your riding experience. Still, having a clear plan—such as the type of bike you’re buying and its purchase price—can help streamline the application process.
Many lenders on our panel do not charge penalties for making additional repayments or clearing the loan early. We can help you choose a loan product that meets your expectations regarding flexibility and repayment structure.
Both terms are often used interchangeably, but there can be a subtle distinction:
A motorbike loan generally refers to a specific type of secured personal loan, where the motorbike itself is used as collateral. This means if you default on the repayments, the lender may repossess the motorbike.
Motorbike finance is a broader term that can encompass various financing solutions, such as unsecured personal loans, chattel mortgages, or hire purchase arrangements. It may or may not require your motorbike to be offered as security.
Ultimately, the best option for you depends on factors like credit score, deposit, and whether you prefer a secured or unsecured arrangement. A finance broker can help you decide which structure best suits your circumstances.
Motorbike loans work by providing you with the funds needed to purchase a motorbike, whether new or used.
The loan application process involves submitting necessary documents such as proof of income and identification. Eligibility criteria include a credit assessment, which impacts your loan eligibility and terms. Loan amounts vary based on personal circumstances and credit history.
You can choose between a secured loan, which uses the motorbike as collateral, or an unsecured loan. It's important to consider extra costs associated with purchasing a motorbike.
Comparison rates help you understand the overall cost of the loan, including fees and charges. The purchase price of the motorbike influences the loan conditions, and you have the flexibility to pay off the loan sooner without exit fees.
