Gusto Finance

03/06/2026

When shopping can hurt your credit 🩼

02/06/2026

We’ll find the needle! No stress 😎

28/05/2026

Approved for a car loan... but a better deal was around the corner! 📉

Getting a loan approval is usually a reason to celebrate, but for one of our customers back in January, it was a tough pill to swallow.

He came to us looking for a car, but his profile was in a very tricky spot:

❌ He was only 2.5 months into a new casual job.
❌ He had a $2,500 outstanding default from an old credit card.
❌ His credit score was sitting in the low 400s.

Despite these massive roadblocks, we took his file to the market and actually managed to get him approved! But there was a catch.

Because of the unpaid default and short work history, the only lender willing to take the risk offered a high interest rate around the 25% mark!

Instead of encouraging him to sign the contract, we looked at what levers could improve things the most, in the shortest period of time.

We knew we could get a better deal with some small changes.

Four months later, he returned with the default paid off. His credit file was still in the 400s, but we now had options.

👇 Click the link below to read the full case study and how we secured a better outcome!
https://gustofinance.com.au/case-studies/default-casual-job-approved/

22/05/2026

Let’s go Scotty Whiteline Racing

Scott Cameron has continued his golden run in the Whiteline Racing Camaro, taking the Giraffe Civil Touring Car Masters pole in Tasmania.
Read full story, link in comments

20/05/2026

#95 Camaro out in action this weekend for race 2 of the Touring Car Masters in Tasmania. Proudly sponsored by Gusto Finance! Let’s go team…

16/05/2026

When is it worth refinancing your car loan?

If your credit score has improved since you took out your loan, you could be paying a rate you no longer deserve.

Lenders price risk. When your file was thinner or messier, you got a higher rate to match. If your score has climbed since then, refinancing could unlock terms that reflect where you are now, not where you were.

When else does it make sense?

Whenever you can save money by doing so!

Two things to check before you switch:

1. The switching costs. Exit fees from your current lender plus establishment fees on the new one. Run the total, don't just compare the rate.

2. Whether your car is eligible. Most lenders cap vehicle age at 12-15 years by the end of the loan term.

🚗 Think your score has improved? We'll check if refinancing is worth it for you.

15/05/2026

One thing will beat your credit score down even if you never miss a payment.

Too many payday loans.

Even with a decent credit score, recent use of payday lending is a potential red flag for most auto lenders.

Other problems are more manageable than you'd think.

Even with a low credit score, you can improve things quickly by:

- Pay down your credit cards before your statement date. Utilised balance can impact score.
- Reduce unused credit limits. Available credit counts against you even if you're not using it.
- If you have a default, pay it. It stays on your file for 5 years either way, but a paid default opens more lender options than an unpaid one.
- Stop applying to lenders directly. Every application leaves a hard enquiry that temporarily drops your score. Brokers use soft checks that don't touch it.

Most of this can generate some improvement in 30-45 days.

🚗 Want to know where you stand before you apply? Talk to us.

14/05/2026

Is a novated lease actually cheaper than a car loan?

The repayments are higher. But some agreements may include expenses such as insurance, registration, and servicing.

Your car loan doesn't.

You need to be in a high enough tax bracket for pre-tax payments to make a real difference to your overall cost.

Lower income earners get less of a benefit.

And you need to be comfortable not owning the car outright. The leasing company holds it. You pay a residual at the end if you want to keep it.

But the biggest catch with a novated lease is that you need to stay in a job that offers salary packaging to receive the full benefit.

Change employers and the payments become yours, in full, post-tax.

Neither is universally better, but one is right for your situation.

14/05/2026

In the Country 1 Month = Approved! ⚡

When this customer moved back to Australia after a couple of years living abroad, he landed a well-paying role and needed a car immediately.

He came to us wanting to finance a private car sale, but we quickly spotted three roadblocks that were going to make it very difficult to get over the line:

❌ Short Work History: He had only been in his new job for one month.
❌ Credit Score Mismatch: A minor arrears blemish was dragging down his Comprehensive Credit Score.
❌ The Private Sale: Private sales are inherently riskier for lenders, and no suitable lender was willing to support a private purchase with his specific credit profile.

When you combine a short work history with a bruised credit file and a private sale... most lenders will show you the door.

👇 Click the link below to read the full case study and see how we saved the deal:
https://gustofinance.com.au/case-studies/approved-one-month-in-the-country/

13/05/2026

Still paying off your car but ready for an upgrade?

You can still trade it in and get a new car today!

Some people assume they need to clear the loan first. They don't.

Here's what actually happens:

1. The dealership gets the official payout figure from your lender and settles the debt directly.
2. Any equity left over goes toward your next car.

For example: Your car trades in for $20,000 and you still owe $15,000.

That's $5,000 applied straight toward the new purchase.

But be careful if you are in negative equity. If you owe more than the trade-in value, you have to cover the gap using cash or roll it up into the new loan.

A couple of things that catch people out:

- Payout quotes only last 7–14 days before they expire.
- And daily interest means the figure creeps up the longer you wait.

Know your numbers before you walk in.

🚗 Trading in a financed car? We can help map out your equity position before you hit the showroom and make sure you have your finance sorted.