Avanti Finance review

Avanti Finance serves Kiwis who don’t fit the traditional loan model. Applications are assessed on a case-by-case basis and those with bad credit and beneficiaries are welcome to apply.

Avanti Finance has approved loans for over 80,000 people in the last 30 years they’ve been in business. In 2019 the lender won an Equifax Outstanding Corporate Citizen Award at the Financial Services Federation.

Types of loans from Avanti Finance

Avanti offers the following loan products for borrowers:

• Personal loans. Unsecured and secured loans tailored to meet your needs, budget and repayment criteria. If you’re looking to consolidate debt, cover an unexpected expense, plan for a wedding or holiday, an Avanti Finance personal loan could be right for you.
• Car loans. Get a pre-approved loan from Avanti Finance so you know how much you can spend when car shopping. Applicants must be 18 or over and hold a valid NZ driver’s license. Interest rates start at 9.95% for a maximum term of 5 years.
• Home loans. Avanti Finance offers an alternative for borrowers, who may not fit a bank’s risk profile. Whether you’re searching for a first home, investment property or need cash for a renovation project, Avanti may be able to help.
• Business loans. Small and medium-sized businesses (SMEs) can apply for an Avanti car or home loan to buy a new vehicle, expand operations or meet tax obligations. Avanti’s specialist business division, Get Capital, also offers fast, flexible working capital and asset finance loans starting from $5,000 for SMEs.

Features of Avanti Finance loans

With easy online application and fast approval, you could have the cash you need within 2 to 24 hours. Here are some more benefits of taking out a loan with Avanti Finance:

• Personal loans from $1,000 to $50,000 for a wide range of purposes
• Tailored interest rates dependent on your credit score and income
• Pre-approved loan so you know what you can afford
• Breakdown and payment protection insurance for car loans
• Available to bad credit applicants and beneficiaries

How much will the loan cost?

When you take out an Avanti loan you may incur the following fees and charges. Some of these can be avoided if you make your repayments on time:

• Establishment fee:

• • • Secured personal loan $325, Unsecured personal loan $195
    • Secured car loan $185
    • Secured home loan $795

• Loan administration fee – $7.50 per month
• Early repayment fee – $55 to $60 depending on loan type
• Late payment fee– $25 per month

How to apply for a loan from Avanti Finance

You can apply for an Avanti loan by filling out the online form on the website. One of the team will then assess your personal profile, employment status, financial commitments and credit history before approving the loan.

If a vehicle and/or property is being used as security, this will also be assessed.

Eligibility requirements

• NZ citizen or permanent resident
• Aged 18 or over
• Must be earning enough to afford the repayments

Necessary documents and information

• Bank statements to confirm income and expenses
• Proof of ID – a passport or driver’s license is acceptable
• Proof of suitable security for the loan, this is not always necessary depending on the amount