FAQ.

Whether you need a new set of wheels, financing for large expenses, or fund for a trip around the world, LifeX can help.
From commercial equipment to camper vans and trucks to motorbikes, our secured loans offer a diverse lender panel that can service a huge range of automotive needs. Need to cover other large expenses? LifeX’s easy unsecured personal loans provide flexibility, allowing you to obtain funds for every occasion, from debt consolidation and medical expenses to holidays and home renovations.

No matter what you need the loan for, LifeX simplifies the process and ensures you get the best deal. In addition, we offer car purchasing and insurance services, providing a one-stop solution for all your automotive needs.

• Efficiency at Its Best: We pride ourselves on our high efficiency. In nearly all customer feedback, clients have expressed great satisfaction with our work and communication speed. Our case handling capabilities are industry-leading, ensuring that we help you achieve your goals in the shortest time possible, which is why we’re rated Excellent on Trustpilot and have similar 5-star ratings on Google Review.
• Licenced and Accredited: We are fully licenced and accredited, ensuring legal operation and access to a wide range of reputable lenders—more than 50, ensuring you have the best options available.
• Experience You Can Trust: With over a decade of experience and handling more than 2,000 real client cases annually, we are seasoned professionals dedicated to finding the best loan options for you, so you can avoid the risks of working with an inexperienced broker.
• Established and Reliable: As a reputable, established business operating in Australia, we prioritize your security and peace of mind in an age of online fraud.

Simply visit the our contact page and fill in your details. We will contact you shortly.

In just 3 minutes, we will gather your personal and financial information and provide a tailored plan.

Alternatively, you can call us directly at 1300 957 421 on weekdays, 9:00 AM to 5:30 PM (AEST).

Anyone who is an Australian resident, over 18 years of age that gains income from employment or pension can apply for a loan from us. Permanent resident or acceptable visa

Simplify Your Car Finance
In Just 5 Steps

• Apply
• 
• Settled

This is dependent on your circumstances. After receiving any supporting documents we may need, in most cases we can have an approval in 2 hour.

We offer loan terms from 1 year to 7 years (12 to 84 months).

We offer both fixed and floating interest rates.

Normally, if all completed loan documents and outstanding associated paperwork are received before 2:00pm AEST, we expect to disburse the funds to the car dealer or private seller the same business day. If all completed loan documents and outstanding associated paperwork are received after this time, we expect to disburse the funds on the following business day.

This depends on the lender. Some lenders allow you to add a partner or child as a co-applicant, meaning they will assess both parties’ income and expenses when considering the application.

Keep in mind that some lenders will consider the lower of the two credit scores when calculating your interest rate, so in some cases, you might get a better rate as a single applicant.

Yes, we have a panel of over 50 lenders. We run an internal assessment to see where your application fit’s best.

Yes, it’s worth getting a second opinion. It could be that you’ve been declined at a car dealership that only has a one size fits all product. We have a panel of over 50 lenders. We run an internal assessment to see where your application fit’s best.

Yes. We always check an applicant’s credit history before approving their loan, but this does not mean that we deny everyone that has black marks and defaults in their credit file.

If we find black marks in your credit record, we will generally talk with you about them and give you an opportunity to explain them and even to prove that your circumstances have improved.

We encourage you to request and analyse your credit record before you apply for a loan and if necessary, gather relevant information and documents to help us understand your situation.

Keep in mind that although we would like to help everyone with a loan, circumstances sometimes require us to decline an application.

There are three primary credit reporting bodies here in Australia. They are:

• Equifax
• Experian
• Check Your Credit

The Australian government requires these credit reporting bodies to provide all consumers free access to their credit report once a year. Consumers may also request a free credit report if they have been refused credit within the past 90 days or if their credit-related personal information has been corrected.

At all other times, these credit reporting bodies may charge a fee, but it is usually affordable.

That’s absolutely fine, give our friendly team a call on 1300 957 421.

The terms settlement, default and closed are commonly found in credit reports and it is important that you know what they mean so that you understand your credit history accurately.

Here are their definitions within the context of loans and credit:

• Settlement – An official agreement in which the borrower has repaid a portion of their dues and the lender agrees to not pursue them for the remaining balance.
• Default – The borrower has failed to fulfill their obligation to pay a debt.
• Closed – The borrower has paid the debt in full.

As a loan company we look for these terms in every applicant’s credit report. We do loan to applicants who have defaults and settlements in their credit history, but consider them higher risk. We naturally prefer to loan to those who have a history of closing debts.

If your credit history isn’t the best, there are ways to improve it, for instance:

• Pay your bills on time
• Make loan or finance repayments by their due date
• Pay off any debts that you have defaulted on
• Catch up late payments and overdue bills
• Don’t apply for credit multiple times within a short period of time.

Avoid the hassle of negotiating at dealerships by using a car-buying service. Here’s why it’s worth considering:

• Save Time: We handle the research, so you don’t have to.
• Peace of Mind: Certified experts provide reliable advice and keep you informed.

• Stress-Free Process: Let professionals handle the search and negotiation for you.

LifeX offers a free car-buying service and enables you to get obligation free quotes. Contact us to learn more!

• Before a New Model Launch: When a newer model is about to hit the market, dealerships often reduce the price of the outgoing model, making it more affordable.
• End of Financial Year Sales: During this time, dealerships aim to meet sales quotas, giving you more negotiating power and potential savings.
• Ex-Demonstrator or Ex-Executive Cars: These lightly used cars, often driven by dealership staff, are sold at a significant discount after reaching a certain mileage.

The car salesman is usually the least attractive part of buying a new car. When discussing a purchase with a dealer, it’s important to keep the following pitfalls in mind:

• Claiming Your Credit is Poor: Dealers may falsely state that your credit rating is low to offer you higher interest rates. Always check your credit score beforehand to avoid being misled.
• Verbal Promises: Some dealers might promise low rates or deals verbally but fail to honor them. Always get your quotes and agreements in writing.
• Overpriced Add-Ons: Dealers may push extras like paint protection or extended warranties, often presenting them as small monthly costs. Over time, these can add up significantly.

Tip: To avoid these pitfalls, get your finance pre-approved through a trusted finance broker. This gives you more control and better financing options than relying solely on dealership offers.

You can borrow 100% of your car’s purchase value and include extras such as insurance and extended warranties. Car loans start at $5,000 and can go up to the purchase price of the vehicle.

Generally speaking, loans are divided into two types, consumer and commercial loan

To be eligible for a secured car loan with Affordable Car Loans you must meet the following criteria:

• 18 years or older;
• You must earn at least $34,996 per year before tax ($600 per week after-tax) and meet the following employment conditions:
  1. You must be employed on a casual basis for at least 3 months;
  2. You must be employed on a full-time or part-time basis for at least 1 month, or 3 months if you are on probation; or
  3. You must be self-employed for at least 6 months.
• Valid driver licence or learner licence;
• Permanent resident or acceptable visa;
• You may need your bank login details so that you can securely submit your bank statements to allow us to verify your income and expenses; and
• You must meet our lending criteria.

Before you receive final approval on your car loan application, you will need to provide us with the following documents:

Depending on the details of your application, we may also require other documents in addition to those listed above.

Purchasing a vehicle as a business owner can be the first step in taking your small business to the next level. Whilst it can be a daunting process, we’re here to lighten the burden with a quick checklist of the documents you are likely to require when applying for your car loan:

For low doc loan:

• Proof of identity
• Proof of ownership of the business.

For a ‘full doc’ loan, 除了上面的两个，还需要 Business documents such as cashflow statements and tax returns. Ensure these documents present a positive cashflow.

For sole trader, you may also need personal documents such as a copy of your driver’s licence, proof of residence and potentially personal references.

You can apply for a car loan if you’re self-employed. When applying for a loan, you may need the following:

• A copy of your driver’s licence
  A valid driver’s licence will be required to verify your identity.
• Proof of your monthly income
  Lenders will need to know you can handle the payments when you are granted the loan, so you may need to provide bnak statements or tax returns depending on the lender.
• Proof of residence
  Another step in the identity verification process, the lender may need to know you live at the address listed on your driver’s licence.
• Personal references
  Whilst not a requirement by all lenders, some will ask for personal references from friends, family, co-workers etc. so be sure to have some contact information readily available.

Do you have any lingering questions that weren’t covered above? The team at LifeX are readily available to answer any further questions you may have. Feel free to give us a call on 1300 957 421 or reach out at any time at info@lifex.com.au to learn more.

Yes, you can purchase a vehicle through a dealership or private seller. As well as new and used vehicles. The vehicle must be registered, and be in a roadworthy condition in the applicable state of purchase.

You can sell or trade the car, but you must first have our consent and settle your finance obligations under the contract before we will remove our encumbrance over the security.

SYDNEY (HEAD OFFICE)

1300 957 421

info@lifex.com.au

G01/1B Homebush Bay Dr
Rhodes Corporate Park
RHODES NSW 2138

We always welcome feedback, independent of whether it is positive or negative. If you would like to make a complaint, give us a call as soon as possible: 1300 957 421

If there has been a misunderstanding, we will do our best to clarify things and if we are at fault, we will thank you for bringing it to our attention and giving us the opportunity to improve our services.

We usually charge applicants a loan origination fee (also called a loan processing fee) to cover the costs that we incur as we process and verify their documentation. This fee varies according to the type of loan in question and also its amount.

After your loan has been approved, we will contact you and set up a repayment schedule that will be easy for you to manage. We generally try to personalize each client’s repayment schedule so that it coincides with their pay cycle.

Your interest rate is based on the overall strength of your lending profile. Factors such as time in job, age of vehicle, whether you are a homeowner or renter, and credit rating determine the rate of interest.

Yes, there are typically two ways to achieve this:

• Paying your car loan bi-weekly instead of monthly can help you pay it off faster.
• Refinancing to a lower interest rate can also accelerate debt repayment.

However, be sure to check if your car loan allows early repayment without penalties.

Yes, you can refinance your car loan, and it can be a good idea under certain circumstances:

• Lower Interest Rate: Refinancing to a lower interest rate can help you save money and pay off your loan faster. The earlier in your loan term you refinance, the more interest you can save.
• Improved Credit Score: If your credit rating has improved since you took out the loan, you may qualify for a better rate, a fixed rate, or even remove a co-signer from the loan.
• Lower Monthly Payments: Refinancing can reduce your monthly payments, improving your cash flow.

Before refinancing, carefully review the terms and make sure it aligns with your financial goals.

Contact us! We will do all that we can to help you if you will let us know the difficulties that you are facing.

Contacting us is easy:

Call us: 1300 957 421

Send us an email: info@lifex.com.au

Visit our office: G01/1B Homebush Bay Dr
Rhodes Corporate Park
RHODES NSW 2138

As much as we would like to give you one, there isn’t a magic formula that will help you stay current on your repayments. Instead, it takes planning and follow-through to manage your repayments and ultimately pay your loan in full.

Here are 5 tips that will help you reach success in this area:

• Live within the reality of your paycheck.
• Create a monthly budget to control your expenses.
• Mark the due dates of your bills on your calendar and pay them promptly.
• Write down how much you owe and subtract your repayments from it, so that you can see your progress as you work toward getting out of debt.
• Don’t hesitate to seek help from a financial advisor when necessary