Frequently Asked Questions

How do I apply for finance?
You can apply for finance in-store at any of our Agents, or by filling out the Online Application

 What is your Interest Rate?
Our Interest Rates Start at 17.95%pa and are work out depending on your credit score. Our Loan Default interest rates is 6%pa above your given interest rate on the overdue balance.

Are there costs for establishing a loan with Smartcover Finance?
There is a standard $65 Application fee and a Booking fee that varies. The Booking fees are dependent on the total amount being financed and are only payable by you if your application is approved and loan documents created. These range from $100 to $300 for loans over $5000.00.

Is there an additional cost to Apply for Finance outside of office hours?

Vetcare finance is available to process finance applications 24/7.  However, there is an after-hours fee of $50 to cover the staffing cost to process your application.

Do the fees need to be paid upfront?
All of our fees are worked into your loan repayments and do not need to be paid up front.

What does the booking fees cover?
The booking fee covers the management of your account over the full loan term, Including: 6 monthly regular statements, direct debt processing costs from your bank,  answering account queries, assisting with budgets and working with you and your budget advisors if you fall into hardship.

Is Smartcover Finance a responsible lender?
Smartcover Finance is committed to being a responsible lending company and is a registered member of the Financial Service Provider Register, as well as the Financial Dispute Resolution Scheme.

Can I get pre-approved before seeing a Smartcover Agent?
Yes, we can approve your application before you visit an Agent – so you know the costs will be covered beforehand.

Can I “top up” my loan?
In most cases, yes. Providing your loan is up to date and you have an excellent payment history. Please call us during business hours to discuss your needs.

Is there a fee to pay off my loan early?
Yes. We do not charge you for loss of interest, however, there will be a settlement /administration fee of $50.

Can I get another loan if I’ve already paid mine off?
If your payment history with us is excellent, you are already pre-approved for another loan. Please call us during business hours to discuss your needs and to find out if you qualify for another loan.

Can I get a loan statement print out?
Yes, just call us during our business hours and we can email or post a statement out to you. Statements are sent by request only, as outlined in your Loan Agreement.

How can I find out the balance on my loan?
Call our office during our business hours and one of our team will be able to provide you with your current loan balance.

What is Smartcover’s bank account number?
Please call Smartcover Finance so we are able to give your individual loan reference number and bank details, This is so your payment can be applied to the right Smartcover loan account. Payments without loan reference numbers will not be added to loans.

Can I pay/settle my loan early?
Yes, call us during our business hours for a loan settlement figure and instructions on how you can make your final payment. There is a $50 settlement fee to close loans early

Can I make “lump sum” payments?
Yes, extra payments can be made into our bank account or with credit/debit card over the phone. Please call us during our business hours to discuss the remainder of your payments once you have made a lump sum payment, as you may be able to reduce your ongoing installment amount and/or the term of your loan.

Can I change my payment schedule/frequency?
In most cases, yes – just call us during our business hours to discuss your payment schedule.

Can I make a payment with a credit card or debit card?
Both Visa and Mastercard payments are accepted. Call us during our business hours to make a payment using your credit/debit card.

Can I Cancel my Contract? 

Yes, The Credit Contracts and Consumer Finance Act 2003 gives you a right for a short time after the terms of this contract have been disclosed to you to cancel the contract.

What is the process if I want to Cancel my Contract? 

If you want to cancel this contract you must give written notice to the creditor. You must also return to the creditor any advance and any other property received by you under the contract.

How long have I got to Cancel my Contract? 

If the Disclosure documents are handed to you directly you must give notice that you intend to cancel within 3 working days after you receive the documents.

If the Disclosure documents are sent to you by electronic means (for example, email) you must give notice that you intend to cancel within 5 working days after the electronic communication is sent.

If the documents are mailed to you, you must give the notice within 7 working days after they were posted.

Saturdays, Sundays, and national public holidays are not counted as working days.

Do I have to pay anything if I Cancel my Contract? 

 If you cancel the contract the creditor can charge you:

  1. the amount of any reasonable expenses the creditor had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports); and
  2. interest for the period from the day you received the advance until the day you repay the advance.

This statement only contains a summary of your rights and obligations in connection with the right to cancel. If there is anything about your rights or obligations under the Credit Contracts and Consumer Finance Act 2003 that you do not understand, if there is a dispute about your rights, or if you think that the creditor is being unreasonable in any way, you should seek legal advice immediately.

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