You can not sell asset finance unless you are accredited with a particular asset finance lender.
Who can I become accredited with?
ANZ Asset Finance (formerly Esanda): Has an appetite for experienced asset finance writers. This is an offline (paper based) model and to get online access, you would need to submit probably 50 to 100 deals and then it would be up to the regional manager whether you would be granted access to Abacus (online platform). Abacus is very difficult to deal with and has lots of little codes. There is no manual and is in a DOS format. ANZ is very restrictive about its use. The offline team is fantastic and is very fast these days. Policy is very broad for consumers and the pricing is very sharp. They are a must in your toolbox.
Download ANZ Accreditation Form
Direct Money. Details coming soon...
Download Direct Money Accreditation Form
MacLease: Has an appetite for beginners and experienced writers. In truth, any experienced writer would already be using them. It would be helpful to do at least 10 deals with them before moving on to ANZ. You would want to get accredited with them if you aren’t already. They have their own online lodgement system and, in my opinion, it is the easiest to use by far and also gives you all of the tools that you will need for a MacLease deal. Prices are only OK initially, but gets better if you use them often. The policy is very broad for business deals. They are a must in your toolbox.
Complete Online Macquarie Leasing Accreditation Form
Now Finance. Details coming soon...
Download Now Finance Accreditation Form
Westpac: Has an appetite for very experienced brokers only. They also want to know that accrediting them will mean some volumes of them. You can settle a car with them and have funds in the dealer’s account (cleared) the same day you meet the customer. Very fast. Using them too early, however, runs the risk of accreditation being pulled and then having trouble getting it back. Their online platform is pretty fantastic. They are business use only and the pricing is sharp. They are very nice to have in your toolbox.
Download Westpac Accreditation Form
Liberty Asset Finance: Can be for beginners. They have very broad policy, but they stick to it. You can do your default clients and discharged bankruptcies here. Prices vary from very good to up to 18% for bad credit. Dealer deals only, no private sales. They are very nice to have in your toolbox.
Download Liberty Accreditation Form
Latitude. Details coming soon...
Download Latitude Accreditation Form
EasyLodge (Mildura Finance): is great for beginners and is also one of the only ways to get to Alphera Finance, CBA, Platform Finance, and Metro. You can also get to the above through them as well. It has an online system that is rigid, but easy to use. Service ranges from very fast to not so fast if volumes are high for them. Initially they take a lot of the pain away as you get used to the process of requesting invoices, preparing private sale invoices, checking PPSR if needed, organizing inspections if needed, etc...They do all of this for you. They charge $350 plus gst for this. Prices vary from lender to lender. They are a must in your toolbox.
How long does it take?
It varies from lender to lender. Anywhere from 2 days to 2 weeks once you have completed the necessary documentation. What is the process?
- Speak to the lender BDM to confirm your interest. See list here Lender contact matrix
- Complete the appropriate accreditation form and send on to the lender
- The lender will be in contact with you to confirm the accreditation.