Finance One Car Loan Review

Finance One charges a variety of fees for their car finance product. As with all Driva lenders, these fees are included in the monthly repayment shown at the time of your instant quote, which is the best point of comparison when deciding which lender to choose when you're looking for a great rate.

These fees include:

• Establishment fees: $595 to $1,495
• Monthly fees: $22
• Early termination fees: None

Don't forget that every lender charges fees and that these charges (including any money that lenders pay to Driva) are already built into personalised quotes. The monthly repayment figure you see is exactly what will come out of your account each month and fully inclusive of all costs (bye bye hidden fees!).

Finance One pays us for sending them, high-quality customers. This payment generally includes two components:

• Brokerage: depending on tier, generally 10% of retail price or up to a maximum of $1,100
• Commission: Up to 2% of the loan amount, depending on the specific customer profile

As with all lender fees, these are not payable from you to Driva directly and are not required to be paid upfront. Rather Finance One incorporates them into your total loan amount, which is paid off over the life of the loan.

All car loan brokers have access to the same interest rate, whether that be for Finance One's secured or unsecured loan products. If you decide to apply through Driva, we can also match the rate you would receive from Finance One by going directly, regardless of the loan term. This means that if you're seeing a different comparison rate for Finance One elsewhere, it could be because other brokers are showing generic comparison rates that will be increased later in the process because of an older vehicle, your living situation, or credit score.

If you still think our comparison rate is higher than you’re seeing them elsewhere, we’re confident we’ll be able to beat it. Email us at hello@driva.com.au.

At Finance One, you can expect a fast and efficient approval process, tailored to meet the needs of our Driva customers. If you've provided all the required information for your application, you can receive a response in as little as 24 hours and up to 48 hours. It's all part of Finance One's commitment to getting you on the road to your financial goals without unnecessary delays.

Here at Driva, we understand that not everyone has a perfect credit history, and that's why Finance One offers solutions for those with less-than-perfect credit. While a bad credit score can present challenges, Finance One assesses each application individually, going beyond just the numbers. Reach out to us at Driva to discuss your specific situation if a minimum credit score is applicable for your chosen product and discover the options Finance One may have for you.

Being denied for finance doesn't directly impact your credit score. However, a hard inquiry associated with a credit application may have a temporary effect. At Driva, we encourage responsible application behaviour and can help guide you through Finance One's application process to minimise any potential impact on your credit score.

Yes, responsible management of financial products like loans or credit cards can lead to improvements in your credit score. Finance One, one of our trusted partners at Driva, offers products that, when used wisely, can contribute to building a positive credit history. It's a gradual process, and our team at Driva is here to support you with information and guidance on how to make the most of Finance One's offerings to reach your financial goals.