FAQs
Are there any penalties for paying out my loan early?
It really depends on the particular loan and at what stage the loan is paid out.
It is best to call us for a current payout and we will inform you of any penalty payments due.
Can I change my banking details after my loan has commenced?
Yes, simply call or email one of our experienced staff members and we will be able to send you a new direct debit form to sign and complete.
Do you maintain contact with me and can you look after my future requirements?
Yes, we want you to remain our client. We will contact you on a regular basis during the year to keep you informed of industry developments. We have the experience and the knowledge to look after almost any future finance requirements you may require.
How can you give me better service than my bank who I have dealt with for many years?
Every bank has its own set of lending criteria & policies. Whilst they all seem the same, there are often differences between them, and that may affect your ability to service your loan.
We will help you work through the differences between the banks and also compare alternative lenders to find the best available deal for you.
How do I pay out my loan?
Contact the office and we will be able to provide you with a figure to pay out your existing loan. Then give you instructions as to where to send the cheque or direct deposit the funds.
How old can the equipment be that I can finance?
Depending on the type of equipment this will range.
Generally with vehicles they should not be older than 10 years old at the end of the term of the finance contract. For example if you buy a truck that is 8 years old today you can usually finance it for 2 years.
Before you buy it is always best to run the type of equipment and its age by us to make sure we can finance it for you.
I have a Novated Lease and have since changed employers. What do I need to do?
All that needs to be done is have your new employer sign a new agreement & complete and sign a new direct debit form.
I’ve misplaced a copy of my contract. How can I get another copy?
Let us know and we can email or post you a copy any time.
Is it possible to get a statement showing the payments I’ve made on my loan?
Yes, most financiers are able to provide these for you. Fees may apply depending on the financier.
My business hasn’t been operating for 2 years, can I still get finance?
Thats fine we still can help you. Depending on your business and your background, Zenith Finance will work with you to find a suitable lender, at a competitive rate.
What is a Lease / CHP Escrow?
A Lease or Commercial Hire Purchase Escrow facility provides interim finance to allow progress payments (interest) on equipment being constructed & installed over a period, to be made on behalf of the customer.
The customer enters into an Escrow agreement with the bank.
Under this agreement, the bank will make progress payments for the goods upon receipt of authorisation from the customer.
When the customer is satisfied with the construction & installation of the goods, they then enter into a standard Lease or Hire Purchase Agreement with the bank.
What is Cash Flow Finance?
Cash Flow Finance enables you to access further working capital by accessing a line of credit to purchase new stock for re-sale; it also enables you to free up funds tied up with late paying clients.
What is the maximum I can borrow to refinance my home?
95% is the absolute maximum in this current market. All banks are looking much more closely at every loan proposition than previously. That said, we arrange many home loans every day. Give us a call and let’s get you the best deal possible.