FAQs

You will find answers to the most commonly asked questions below, however, you can easily learn more by Contacting Us.

What does UFS finance?

We finance Motor Vehicles, Boats, Residential & Commercial Property, Plant & Equipment and Personal Loans.

Does UFS have access to Cars for customers to purchase?

We have access to thousands of cars. When you want a car we can help you find the one your looking for and at a bargain price.

Can UFS organise Comprehensive insurance for my purchase?

It is compulsory to have Comprehensive Insurance when you finance a car loan. At UFS we have an established relationship with a reputable insurer so we can organise your insurance for you.

Can I insure myself if I can’t work, get sick or become disabled?

Yes, UFS offers a range of insurance that will make sure you’re taken care of in the event of the unforeseen occurring. The insurance is called Consumer Credit Insurance and can be added to your loan.

What is GAP Insurance?

Gap Insurance simply covers you when there is a shortfall difference between what you owe to the financier and what your insurance company is going to pay you out if your vehicle is ever written off i.e. smashed and un-repairable, stolen etc. Gap Insurance can be added to your loan.

What financial information do I need to provide UFS?

Income, monthly commitments, assets & liabilities

I'm getting a car loan but I'm not sure which on-road extras I can include in the deal.

Compulsory charges include registration, government stamp duty, transfer and number-plate charge. It is common to have these included in a loan agreement.

Do I need to provide additional security for a car loan?

Usually the motor vehicle being financed is sufficient security.

What financial information do I need to provide to a lender?

Income, monthly commitments, assets and liabilities.

Is it worthwhile getting loan insurance?

Life is full of uncertainties. An accident could reduce your income and jeopardise your ability repayments. Loan insurance offers peace of mind. Some lenders can arrange car loan insurance.

I'm leasing a car and I'm not sure what residual value means.

It is an estimated value of the car at the end of the lease period. It is calculated using Australian guidelines, according to the vehicle's effective life and depreciation.

As a part of a salary package, my employee is offering a novated lease. What could I be in for?

The vehicle is effectively leased to you then subleased to the employer who makes the payment on your behalf. Novated leases terminate when you finish employment with the company.

What is a balloon payment?

It is the vehicle's estimated value at the end of a hire-purchase term. It is similar to the rest but taxation guidelines are not used to calculate it.

How much can I borrow?

This depends on your income and asset position.