The world of finance is full of questions. Modus Financial Services present some of the answers to some of the more frequently asked ones on our FAQs page.


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Can I still get finance if I have a bad credit history?

The short answer is: Quite possibly. We take a holistic approach to credit underwriting and assess each application on its own merits. There are often very valid reasons why someone has a less than perfect credit history, and we always take into account each individual’s circumstances. If you’d like to discuss this, we’d be delighted to explain further.

How much deposit will I need?

Usually 10-20% of the cost of the vehicle. The exact sum will depend on your financial situation and whether you are buying a new or used car. However, there are a few agreements that do not require any deposit. Of course, the more money you can contribute as a deposit the less you’ll have to borrow and therefore the lower your monthly repayments will be.

Can I reduce my monthly payment?

You can reduce your monthly repayments by contributing a larger deposit at the start of a finance agreement. Call us to discuss your options and we can explain more.

What interest rate will I be charged?

This will depend on a range of factors including, but not limited to, your personal credit score and credit history. If you’d like a personal quote, get in touch. We’d be happy to oblige.

Can I settle the agreement early?

Yes, but charges will usually apply – these are explained in the terms and conditions of your agreement. Please call us for further information.

Can I sell the car?

Once you’ve paid off the outstanding sum it’s yours and you can do whatever you like with it. However, while you’re still paying off the finance you aren’t legally entitled to sell the car.


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Get in touch with Modus Financial Services and turn those dreams into reality.

Call direct on
1300 001 226

or complete the form and one of the Modus Financial Services Lending Team will get back to you.