Our Fastest Car Loan Turnaround Yet?
In this week’s customer story, we have a customer who thought their credit file was stuffed but was actually in good shape.
Leading to perhaps our fastest approval turnaround ever!
Can you imagine your car completely breaking down just over a week from Christmas?
Well, thats exactly what happened to this week’s customer. They knew it was time to upgrade, and fast!!
They came to us under the assumption that their credit file was in poor shape due to a default that was listed some years ago.
So we ran all the usual credit checks as part of our preliminary assessment and the default was nowhere to be found.
He was not aware that a default listing falls off your credit file after five years (still a long time, but important to know).
His credit score had also climbed back up to the low 600’s range. Which is a reasonably healthy mid-range score.
Everything was lining up to get the speedy outcome he was after!
He submitted his enquiry to Gusto at 8am, and he was approved at the lender by 9am for $35,000.
We referred him to one of our dealership partners in Melbourne to help him source the vehicle he wanted and they were on the case before 10am.
After completing his usual days work in between all of this, he had signed contracts and owned his new vehicle by 5pm the same day!
The lesson in all of this is to not make assumptions about your credit situation.
You need an expert eye that knows the industry to consider both your individual circumstances, and what is available in the market today.
Credit policies can change day to day and our expert team are always on top of the latest developments and can place your car loan application where it has the best chance of approval.
Another great outcome from the team, and a happy customer who has landed a significant with plenty of time to spare before the holiday break!