Bankwest Forum

Ask a new question

Appalling loan process

Posted by MrNatural MrNatural
Message 1 of 2 1,983 Views



I just had to share of how terrible my loan process was, and in the end I wasn't even eligible because the employee never checked the valuation of the car.


timeline is as follows:

1)apply for car loan

2)go through loan process

3)Call to enquire, guy I was talking with is on annual leave, others unsure of the application


4)i just go to the dealer directly, get loan through other bank that they work with


5)Because loan application was still in the system, Bankwest APPROACHED ME 5 months later, asking me whether I still want to go ahead

6)I say sure, if I pay less, guy says ABSOLUTELY! (calls me 'boss')

7)Give him ALL the details over three weeks, everything seems perfect

8)Waiting on approval

9)Get message from bank, they are saying the amount applied for isn't right(???), I ask them to change it to the correct amount.

10)Next day other guy calls, says your car is actually not valued for the amount(first thing that could have been checked perhaps???????)

11)I ask the guy I was dealing with initially, he replies 'oh yeah sorry my bad, how about unsecured loan though'(4-5% more than previous offer) ?

12)Offers me a deal with the EXACT SAME REPAYMENTS as my current one

13)Sitting in disbelief, thinking what the hell just happened


All in all, not a great experience, everyone seemed to be misinformed and the only guy who seemed to know what was going on was the guy who gives the approval and called me last:"Nah, that's not right, she should have asked you this and that. nah that's not right, he should have checked that before and so on"


I know nothing will probably come of this post but it needed to be shared.

0 Kudos
Forum Manager

Re: Appalling loan process

[ Edited ]
Posted by PeteW PeteW
Message 2 of 2 1,974 Views

Sorry to hear of this experience you've had @MrNatural but thanks for sharing because it gives me the chance to have it addressed with the appropriate managers. I definitely understand your frustration, especially around the points you made about my colleagues not knowing what was happening with your application and/or not getting it sorted out quickly and smoothly for you.


Please send me your full name, application number and best contact number to so I can have this looked in to. It's certainly not the experience we want any of our customers to have!

Was this helpful? Then give it 'Kudos'!

If your question was answered, select 'Accept as Solution' to make it easier for others to find.

0 Kudos
Ask a new question
Top kudoed contributors

Bankwest SWIFT code: BKWAAU6P
© 2020 Copyright Bankwest, a division of Commonwealth Bank of Australia (Bankwest) ABN 48 123 123 124 AFSL / Australian credit licence 234945. All rights reserved. To use this Website, you are required to read the Financial Services Guide (which you agree to be provided by accessing the link). Bankwest is a division of Commonwealth Bank of Australia, which is the product issuer unless otherwise stated. Rates stated are subject to change without notice. Any advice given does not take into account your objectives, financial situation or needs so please consider whether it is appropriate for you. For deposit and payment products, please ensure you read and consider the Product Disclosure Statement (which you agree to be provided through this link) before making any decision about the product(s). For lending products, lending criteria and fees and charges apply. Terms and conditions apply and are available on request.