QuickCash Finance

QuickCash Finance eligibility and documents

QuickCash’s website terms require applicants to declare that they are over 18 and are not undischarged bankrupts. Approval also depends on the lender’s assessment of income, expenses, existing debts and credit history.

• Identification and banking: Its process guidance requests a New Zealand passport or driver licence, online banking and access to 90 days of bank transactions.
• Vehicle security: The FAQ specifies a vehicle registered in your name, without outstanding finance, with current registration and a warrant of fitness. Its value must exceed the amount borrowed.
• Additional applicants: The application form states that joint applicants and guarantors must be New Zealand citizens. Confirm your own residency eligibility directly if uncertain.

Unsecured eligibility needs clarification: The application form offers $200–$500 without security for applicants with good credit and no bad debts, while the FAQ says every loan needs security. Do not assume either statement applies to your circumstances without confirmation.

Who should consider a QuickCash personal loan?

QuickCash may suit someone funding a defined expense who has acceptable security, a repayment surplus and a realistic opportunity to settle early. Our assessment is that early settlement is its most useful feature: it can reduce both interest and the number of weekly administration charges.

Reconsider if you would be pledging a vehicle essential for work, borrowing repeatedly for ordinary bills or choosing solely on the advertised minimum rate. Compare other personal loan options using the same cash amount and repayment period. For existing repayment difficulties, explore debt management support before adding another loan.

How the QuickCash application works

Application and assessment

Start with the official application form, supplying your borrowing request, personal details, income, expenses and bank information. QuickCash then requests bank transactions, assesses creditworthiness and affordability, and sends an electronic contract if approved. Its form asks applicants seeking more than $10,000 to telephone for a custom rate.

Read the lender’s privacy policy before submitting: information is shared with credit reporting agencies for identity and credit assessment.

Decision and payment timing

The process page advertises assessment within 25 minutes and cleared funds within 60 minutes for approved loans. These are lender claims, not an assured deadline for every application. Confirm timing after the required checks and contract signing, particularly outside its stated Monday–Friday, 8:30am–5pm support hours.

Questions to ask before accepting an offer

• What cash amount will I receive, and what opening balance will I owe after fees?
• Which published rate applies to my security and credit profile, and why do the online tables differ?
• What are the repayment dates, full term and total amount repayable?
• Which assets secure the debt, and what insurance, exclusions and excesses must I budget for?
• What would I owe if I settled early, missed a payment or refinanced the loan?

QuickCash personal loan advantages and limitations

• Fixed interest: An agreed fixed rate makes the interest component more predictable.
• Early settlement flexibility: No early repayment fee; weekly administration charges apply only while the loan remains active.
• Online process: Application and contract signing can be completed remotely.
• Fees matter on small balances: A fixed establishment charge represents a larger proportion of a smaller advance.
• Security adds consequences: A missed-payment problem can also become a risk to an asset you rely on.
• Inconsistent disclosures: Conflicting rates and security statements make a written quotation particularly important.

QuickCash interest rates, fees and total borrowing cost

Why the 12.5% starting rate needs context

The homepage advertises annual interest of 12.5%–29.99%. Its lowest rate is tied to a residential first mortgage, a registered valuation and borrowing within the 0–20% loan-to-value band. It is not a general starting rate for a vehicle-backed personal loan.

The responsible lending table shows some secured rates of 30%, whereas the homepage table shows different figures. Neither table provides a clear effective date resolving the difference. Treat your written offer as the basis for comparison; do not assume a particular rate from these tables.

Published fees

The schedule dated 21 February 2024 lists establishment fees added to the loan:

Administration costs $5.34 weekly. Confirm establishment fees above $5,000. Conditional charges include $175 for cancellation, $50 for changing security and $20 for refunding an overpayment. Property security can add registration, discharge and solicitor costs. Check which charges apply to your agreement.

Arrears can attract a $1.55 daily default fee and published annual default interest of 8% on the overdue amount, plus applicable reminder and enforcement costs. Ask how default interest interacts with ordinary interest.

Insurance on secured assets

Clause 32 of the sample contract requires pledged assets to remain insured, with the lender’s interest recorded. Obtain the required cover and premium before comparing costs. Asset insurance should not be treated as protection against losing income; check the policy’s exclusions, excess and claim conditions.

Illustration: $1,000 repaid over 52 weeks

LoansFinder calculation, not a QuickCash quotation: Assume a $1,000 advance, a $250 establishment fee financed into the opening balance, 26% annual interest and 52 weekly repayments. Including $5.34 weekly administration, repayments would be approximately $32.69 weekly, with approximately $1,699.83 repaid overall.

The estimated borrowing cost is $699.83: $172.15 interest, $250 establishment and $277.68 administration. This assumes daily interest at 26% divided by 365, seven-day payment intervals and timely payments, with the final payment adjusted for rounding. It excludes insurance and conditional charges; the assumed rate and term are not confirmed offers.

The decision point is the fee burden: in this illustration, fees exceed interest. Comparing interest rates alone would miss most of the borrowing cost.

Is QuickCash Finance worth comparing?

QuickCash’s strongest feature is the ability to settle early without an early repayment fee. Its main limitation is the combination of establishment costs, weekly administration and security obligations. Compare the total cost for the cash you actually receive, including required insurance, against an unsecured alternative before accepting the risk to your asset.

QuickCash Finance personal loan FAQs

Could I actually qualify for QuickCash’s advertised 12.5% rate?

The published rate table links 12.5% to a residential first mortgage, a registered valuation and borrowing within the 0–20% loan-to-value band. It is not the general starting rate for a vehicle-backed personal loan. Other published rate tables differ, so compare your personalised rate and total repayment with competing offers rather than using 12.5% as your expected rate.

How much do QuickCash’s fees matter on a smaller loan?

They can materially change the comparison. The fee schedule dated 21 February 2024 lists a $175 establishment fee for a $500 advance: 35% of the cash borrowed before interest or weekly charges. Administration adds $5.34 each week the loan remains active. A competing loan with a higher interest rate but lower fees could therefore cost less overall. Compare the same cash amount over the same period.

Can I borrow from QuickCash without putting my car at risk?

The application form lists an unsecured $200–$500 option for applicants with good credit and no bad debts, alongside secured borrowing of $501–$20,000. However, its FAQ says all loans require security, so confirm availability first. If your car secures the agreement, it may be repossessed following default. Compare an unsecured alternative carefully if losing the vehicle would also affect your income.

Can I get a QuickCash loan with bad credit?

Possibly. QuickCash’s eligibility guidance says it considers affordability, security and the amount requested alongside credit history. Its small unsecured option separately requires good credit with no bad debts. When comparing loans for imperfect credit histories, check the actual rate and security requirements: willingness to consider an application does not establish approval or affordability.

Can I check my QuickCash rate without a recorded credit enquiry?

QuickCash confirms that applications involve a credit check, but the reviewed material does not establish a separate, score-neutral quotation stage. Before applying, ask whether requesting an indicative rate records an enquiry and when that happens. Its credit reporting terms explain information sharing with credit agencies. Use the same question when comparing lenders whose quotation and application processes differ.

Does fee-free early repayment make QuickCash cheaper if I settle quickly?

It can reduce the cost, but the establishment fee still matters. QuickCash charges no early repayment fee, and its responsible lending page says weekly administration applies only while the loan is active. For a fair comparison, request the total cost if settled on your intended date, including the financed establishment fee and accrued interest, rather than comparing early-exit fees alone.

Will I need additional insurance, or can I use my existing policy?

The sample secured contract requires insurance on pledged assets and the lender’s interest to be recorded. It does not establish whether your existing policy will meet those requirements. Ask before purchasing additional cover, and include any premium increase in your comparison. Check exclusions and excesses; asset insurance should not be assumed to cover repayments during illness or unemployment.

Could consolidating debts with QuickCash lower repayments but increase my costs?

Yes, depending on the new term and charges. A lower instalment may spread repayment over longer while adding establishment fees, weekly administration and further interest. When comparing debt consolidation options, request the new total repayment and compare it with the remaining cost of your existing debts. If previously unsecured debts become secured against your car, assess that additional asset risk separately from any monthly saving.

What help is available if my circumstances change after borrowing?

QuickCash’s hardship process requests a written application and 90 days of bank statements. Call 0800 784 252 to discuss your circumstances. Before accepting a revised arrangement, ask whether interest and administration charges continue, what happens to existing arrears and how the total repayment changes. A temporary reduction in payments should be assessed alongside its longer-term cost.

Who can help if I dispute QuickCash’s charges or lending decision?

Raise the issue with QuickCash on 0800 784 252 or info@qcf.co.nz, identifying the disputed charge or conduct and the outcome you want. Its complaints page names Financial Services Complaints Limited as its external dispute resolution scheme. If unresolved, contact FSCL on 0800 347 257 to establish whether it can consider your complaint.