MoneyPlace secured loans are now available to all applicants.
When you apply for a rate estimate with MoneyPlace, you will be asked some basic details about the car you are offering as security, such as its age, and — if you are purchasing the secured asset with your MoneyPlace loan — whether you will be buying from a dealer, or in a private sale.
When completing your application you will be asked to provide some additional details about the asset you are offering as security.
If you are:
- purchasing the secured asset with your MoneyPlace loan we will need to contact the seller to confirm details of the asset, and once your loan is finalised the funds will be disbursed directly to the seller.
- purchasing the secured asset in a private sale, the seller will be required to use a service called Verimito to verify the asset being sold.
- refinancing an existing asset you own, you will be required to use Verimito to verify the asset and your loan funds will be sent directly to your current lender.