The application process with Great Southern Bank is similar to how most lenders operate in terms of their process. It’s a relatively streamlined series of steps, so it won’t take long for you to be approved once you’ve applied. The application process is as follows:
Ensure that you’re eligible
First of all, you should always double-check the eligibility criteria on each car loan before you move into your application. There’s little point in signing up for a loan where approval is impossible because you don’t meet one or more of the qualification requirements.
Prepare your documents
You should also have all your documents on hand and prepared for your application, as not having all of the required documents can slow down the process unnecessarily. Some of these can include:
- Your driver’s licence, passport or Medicare card
- Information on your employment and income (such as payslips, your employment contract, bank statements, rental property statements and more)
- Information on your assets, liabilities and expenses (such as via transaction or loan account statements)
- Your email address and phone number
- Your Great Southern Bank customer number if you’re an existing customer
Submit your application
Once you have all of this information, you can move ahead and submit your application. Their online application form should take you around 20 minutes to complete and submit.
Get approved and sign your contract
If they’re satisfied with your application, Great Southern Bank will approve it and send through a loan contract for you to sign. This confirms all of the conditions of your agreement and sets it in stone. You can sign your contract electronically, saving on physical paperwork.
Receive your funds
After you’ve returned your loan contract to the lender, the funds can be advanced directly into your account. From there, you can go out and purchase the car you were approved for and drive away before you know it.
You can also apply for your car loan with Savvy, rather than directly through a lender. In doing so, you can maximise your chances of being approved for the best loan deal available to you. This is because we have access to more than 25 lenders across the country, giving you and our expert consultants more options to choose from to ensure the loan you take out is the best for your needs.