The Commonwealth Bank's Online Car Finance Tool is an innovative application and decisioning platform developed to streamline car finance approvals. The benefits to brokers are:
To get a quotation or conditional approval, simply launch the Online Car Finance Tool and follow the easy instructions.
See the Frequently asked questions for more information.
You will need to be an accredited Commonwealth Bank Broker with a current Broker Identification number to use the tool. If you need more information about your Broker Identification Number, email or fax us on 1300 854 227 with your query.
I have tried to access the Online Car Finance Tool and it asks for a log-in. How do I get log-in details?
All accredited brokers will have received an email detailing their individual broker identification number. If you have not received this prior to the launch of the Online Car Finance tool, please contact your Business Development Manager or email us.
I’m not sure what car the client wants; can I complete a quote for a dollar amount without selecting a vehicle?
Details of the car are mandatory to ensure that the vehicle you are selecting fits within the decisioning capability of the application. However, you can select any vehicle and overwrite the field titled ‘amount financed’ if you are just looking for an indicative quote. If you want to proceed with the application, you can then return back to the quote and enter the correct asset details.
The residual value or balloon that my client requires is not listed in the drop down selection; what should I do?
If you require a residual value or balloon that is not displayed, select the closest residual value available. In the comments section, you can specify any changes you would like made to the residual value and we will update your quote after your application has been decisioned.
What happens after my application is approved?
Once your application is approved, a member of our dedicated broker Car Finance team will review your application and verify the information provided. Once this has been completed, you will receive a letter confirming your approval detailing any additional requirements. You can also proceed with documentation at this stage.
What happens if my application isn’t approved?
FFor applications that provide you with a ‘refer’ decision, our team will review the application and provide you with an answer within 8 business hours. If you have received a ‘decline’ decision, and you believe there is good reason why we should review the decision, call us on 1300 720 583 and we can discuss the reason for review.
Will you complete a credit bureau (Veda) check on the client?
You can complete the quote without providing any client specific details. The information provided in the application will be used to conduct a credit check. The credit check will only be completed at the end when you submit the application for a decision.