How WeMoney helped Ashish finance his first car

Ashish's story at a glance

• Member: Ashish, 37, a business analyst who moved to Melbourne, Victoria after relocating to Australia from New Zealand the year before
• Before WeMoney: no personal loans and no car loan, with his credit card paid off in full each month; he'd become the family's only income since March while his wife looked for work
• What he did: applied for his first loan through WeMoney, $5,000 to buy a car
• How WeMoney helped: showed him a shortlist of matched lenders to compare before he chose Wisr
• His experience: the lender called for documentation and settled the loan in about two days, by his account
• After: a BMW, financed at a repayment he remembers as around $200 a month, and he still checks WeMoney a couple of times a week
• Next: he says he'd go through WeMoney again for his next loan, and had already recommended it to family and friends

Before WeMoney

Ashish is a business analyst who moved to Melbourne, Victoria after relocating to Australia from New Zealand the year before. His WeMoney profile is registered to New South Wales, where he was living when he signed up. He lives with his wife, whose background is in banking, and their six year old.

At the time of the interview he was the only one earning. His wife had a few opportunities lined up but hadn't started a new role, and his own contract was due to finish in September.

"Currently I am the only one who's working in the family."

Money stress came and went, and the family had savings to fall back on. Ashish put the arithmetic plainly:

"In the present scenarios you need two salaries to run the household."

He had no personal loans and no car loan going in, and paid his credit card off in full. He was already using WeMoney to track his credit score before he needed a loan for anything, and said he hadn't used any other way to keep tabs on his finances before it:

"No, no, I wasn't. That's a good, very good application."

How he found us

He remembers seeing WeMoney ads across TV, Facebook and YouTube, and getting regular email prompts once he'd signed up.

"Whenever there's an email come to me regarding WeMoney, I go and check the WeMoney app."

He also recalls downloading the app after seeing it through a finance influencer he follows on Instagram, which lines up with WeMoney's own attribution record showing an Instagram ad as his source.

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How WeMoney helped

When Ashish decided to apply for a loan, he did it inside the app itself, where WeMoney showed him a shortlist of matched lenders to compare.

"I've got a lot of choices there."

He chose Wisr on price:

"I think the interest rates were low."

From there, Wisr took over the credit decision. The lender called him for documentation, and Ashish remembers it moving quickly:

"They approached me, they called me, they asked me for documentation and everything, and sorted, and then it was very quick."

"I think it was two days."

As with every WeMoney match, Wisr remained responsible for assessing the application, the loan contract and settlement. WeMoney's role was to show Ashish the lenders he was matched with and let him compare them before he went ahead.

He borrowed $5,000, his first loan of any kind, and used it to buy a car, a BMW. The loan settled with Wisr, and he remembers the repayment as around $200 a month.

After WeMoney

Ashish says his financial position hadn't really changed, but he rates the experience highly:

"So it's a very good experience I would say."

He still uses WeMoney beyond the loan, checking in a couple of times a week, and couldn't think of anything he'd change about it:

"I don't think so. I think it is fulfilling all of my requirements."

He'd already recommended it to family and friends by the time of the interview:

"Oh yes, of course I did already."

Asked how he'd describe WeMoney to them:

"It's a fantastic company. You've got a lot of options, it's a credible app, and it's Australian based. Less hassle, a lot of opportunities, everything you can see on the app itself. And it's not only helping you get a loan, it'll help you organise your finances too."

Asked if he'd take out another loan through WeMoney, his answer was immediate:

"Yeah, 100%."

See your own options before you apply

If you're weighing up a loan, whether it's for a car or anything else, connecting your accounts in WeMoney can show your financial position alongside the lender options you may be eligible for, so you can compare the rate, term, fees and repayment before you go ahead.

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Ashish's rate, repayment and experience are his individual experience. Eligibility and outcomes vary by member and lender, and his story is not a promise that another person will receive the same result.

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