natloans - Finance & Leasing

Choosing the best car loan possible

Natloans — Thu, 02 Sep 2010 03:58:16 +0000

Choosing the best car loan isn’t just about the interest rate. A car loan should suit your needs and profile. Before you start looking into a new car purchase, ask yourself a few questions. This will give you a good idea of what you are really looking for in a car loan.

What is the age of the car? Car loan rates vary depending on the age of the car. If you are going for an older car, don’t expect as sharper interest rates as a new car loan. A car is a depreciating asset and lenders take this into account even if you are a ‘prime customer’. The age of the car may restrict how long you can have the loan term for. For example, a lender may not like the car to be older than 9 years at the end of the loan term. This means if you are looking to finance a 2004 model, this is already 6 years old and the lender may only approve the loan over a 3 year term.
What is the loan amount you are looking to borrow? This also effects the rate and the products available. Some loan products have lower rates for borrowing more. For example a loan for 5K is not going to attract the same low interest rates as a 30K car loan.
Are you putting in a deposit or a trade in? 100% is more difficult to obtain. In many scenarios (mainly consumer loans) lenders want to see that you have made a savings commitment to you new purchase. This reduces the risk or exposure on the asset to the lender.
Is the car for business use or personal use? This will determine the type of car loan product you require. Its best to seek your accountants advise on loan product particularly when its for business use.
How long would you like to pay the loan back? Loan term determines repayments. You need to think about your budget and your monthly expenses before adding the car loan. Of course, if you pay the loan back sooner you pay less interest.
What is your credit history? Do you have defaults? Have you been bankrupt? Do you have a lot of experience in having car finance? Or is this your first loan? Lenders will assess you for approval based on your credit file. Be aware of what is on your credit file and don’t make multiple loan enquiries. This will give you an ‘active’ credit file which lenders dislike and are more prone to rejecting your application.

Technorati Tags: car loans, car loans interest rate, car loans questions, choosing the best car loans

Secured or Unsecured loan?

Natloans — Wed, 01 Sep 2010 00:46:16 +0000

Are you thinking of making a new purchase but unsure about the type of loan you should be looking at? Before making the choice be sure to get some insight on what each option offers and will fulfill your needs best, there are two main loans – secured and unsecured.

Secured Loans

When considering a secured loan you must be confident that you won’t be defaulting in any payments and that your budget can afford the extra expense. Although this type of loan usually has a lower interest rate with a larger amount of money than unsecured loans there is a slight catch. Finance companies will only give you this loan if you are willing to use an asset, such as your car, as security. This is done incase you cannot make the monthly repayments; the lender will not hesitate to repossess your car in order to receive the payment.

Unsecured Loans

Are quite difficult to obtain in this time and day. The lender will not be holding an asset, as security therefore will be following strict criteria as to whether you will be eligible for the loan. Interest rates and repayments are often much higher than secured loans due to the client be bound by only a “promise” that they will be able to make all the payments on time until completion. The only advantage is that there is no asset that can be repossessed!

There are a few factors that must be taken into consideration before even thinking of which loan to go for.

1. Credit Rating – If you have been bankrupt or have defaulted you may not be able to go ahead with your application straight away, you may need to wait a few months then apply for a loan again. If you have a good credit rating and have kept up to date with all your previous/current loans you are on the right path in making another purchase.

2. Employment Status – Are you part-time, casual or fulltime? Depending on the hours and base rate you are at may be the reason you don’t qualify for a loan. You must no be on probation, if you are contact your financier when you are stable in the position and they will guide you from there in to find the best option for you.

3. Income/Outgoing Bills – Can you afford another expense? If you feel that you can pay your bills comfortably and find yourself with cash left over at the end of the month you may have enough to take out another loan. Another option is to save a deposit over a few months and finance less, saving yourself some interest!

For more information on which finance option is best suited for you contact Natloans on 1300 955 791 or visit our website www.natloans.com.au

Technorati Tags: secured loans, unsecured loans

What options do I have when getting a motorbike loan?

Natloans — Mon, 30 Aug 2010 01:26:58 +0000

Financing a bike is a lot like a car loan. Before you go out to the bike shops and fall in love with your dream set of wheels, it’s probably a good idea to pause and think about how you will best finance it. Perhaps the best option available to potential buyers is the Personal Secured Loan.

So what is the product?

Personal Secured Bike Loan:

This is probably the best and most popular product if you are looking at bike purchase over $5000. A Personal Secured Loan means the bike is used as security against the loan.

In this current economic market, a Personal Secured Loan is easier to obtain than a Personal Unsecured Loan (where no security is needed). However, there are restrictions on the age of the bike. Lenders usually don’t want the bike to be any older than 12 years and the end of the loan. Older bikes cannot be used as “security” in its own right.

Usually this type of loan can run anywhere between 2 and 5 years. However, bike buyer behavior demonstrates that most people keep their bikes for 18 months and then upgrade. This is why a Personal Secured Loan is suitable because the exit fees are low and you are paying interest and principle from day one, which means when it comes to trading in or selling the old bike, you don’t owe more on the loan than the bike is actually worth. Finally, a Personal Secured loan is the cheapest option in interest rates, fees and charges and allow you to make additional payments.

Most lenders will want comprehensive insurance on the motorbike therefore you will need to factor this into your budget.

The lender will want:
1. Proof of income
2. Evidence of a stable home address
3. Permission to check your credit record

For more information on the loans process, please call Natloans on 1300 955 791 or visit our website http://www.natloans.com.au/. They will ensure the process is as smooth as possible because they are professionals.

Technorati Tags: bike loans, personal bike finance

Ridding to work

Natloans — Sun, 29 Aug 2010 02:04:04 +0000

At natloans we think ridding a bike to work can save you time and money.

Why not consider riding a bike??

After learning about the city's assortment of battery-powered
bicycles

, cars and evenboats, I was fully charged up and ready to go

Well put, and it's true enough! Unfortunately for me, only one of these can get you from Venice Beach to Hollywood in fewer than 30 minutes, but I'm rethinking that commute.

Natloans gives you 5 Finance and Leasing Options

Natloans — Sun, 29 Aug 2010 01:38:19 +0000

Hi everyone we provide finance and leasing options. Visit natloans for all you finance and leasing needs.

Boat Finance Made Easy with Natloans

Natloans — Sun, 29 Aug 2010 00:26:33 +0000

Buying a boat can be an exciting experience. However, before you hit those Boat Dealerships, you need to make some careful consideration on how you will finance it.

Natloans has been financing boats for their clients for nearly 10 years. A vast majority of our savvy buyers arrange Pre-Approval of the money first before they commit to a boat purchase. That way, they have peace of mind that they can obtain the finance and concentrate on negotiating price with the dealers. Since the Global Financial Crisis, the marine industry was hit hard. There are many opportunities to pick up bargains as dealers are desperate to move stock.

According to Mary Nebotakis from Natloans, the main product used for financing a boat is a Personal Secured Loan. This means the boat is used as security against the loan.

Following are some of the features of a Secured Boat Loan:

Finance terms – range from 1 year to 5 years.
Fixed repayments allow for your budgeting needs and protect you against interest rate fluctuations.
A deposit is generally not required but is desirable as this minimizes the lenders exposure to the asset. A condition of approval could be up to 25% deposit, so make sure you have some savings behind you.
If your boat is to be used for business purposes you may qualify to claim part of the interest and depreciation as a tax deduction.
Equity in your marine purchase can be increased, by making additional payments without penalty.
Direct debiting of your monthly repayments can be arranged.
“Low Doc” Secured Boat Loans are available for Self Employed clients

Natloans will take the work out of applying for a loan. You may apply directly to us either over the phone on 1300 955 791 or online at www.natloans.com.au. Natloans can also assist in insurance needs for boats as well.

Technorati Tags: boat finance, boat loans, secured boat loans

Have you heard about Gillard’s $2000 rebate on new cars?

Natloans — Tue, 03 Aug 2010 05:14:25 +0000

With only weeks away from the election it’s time to make a decision! Although we may not completely agree with what each Prime Minister proposes, at the end of the day we need to choose the party that will benefit us more.

It has been announced that the Labor Government is intending on giving Australians a $2000 rebate on the purchase of their new vehicle in order to give individuals the chance to upgrade their car to something more fuel efficient! So why not think about purchasing a new economical vehicle to save on petrol and minimize the effect on climate change?

If you are having issues with your car and want to upgrade to something stylish and small?

Toyota Yaris

The Yaris was established in 2005 and hit off with great success; you are bound to have seen one drive past you. They are a spacious car and are available in a hatch or a sedan, depending on your preference! They are currently on the market for roughly $22,000 brand new and used are ranked at about $10,000-$15000 all depending on the modal and year of the car. Below are only various components; you would be surprised how much more this little Yaris has inside!

Specifications:

- Available in manual/automatic either 3 or 5 door

- Electric Power Steering

- Front wheel drive

- ABS brakes

Features:

- Power windows

- Air-conditioning

- Storage compartments

- Digital instrumentation with liquid crystal display

- MP3 compatible single disc CD

Price: $21,390 (Brand New)

Monthly Repayments: $367

Final Payment: $6417.00 (30%)

Loan Term: 60 months

Interest Rate: 8.27%

* To approved applicants terms & conditions apply

For more information on how to go about financing your new car, contact Natloans on 1300 628 562 or visit our website www.natloans.com.au.

Technorati Tags: Gillard 2000 rebate, government $2000 rebate, labors $2000 rebate

Using your mortgage to finance a car – the positives and the negatives.

Natloans — Mon, 02 Aug 2010 04:37:53 +0000

At a glance, home loan rates are considerably lower than car loans. So why don’t we just buy a car using your mortgage?

If you are ahead of your mortgage, you may be tempted to redraw to fund that next car purchase. However you need to be aware of the positives and the negatives of doing this:

Positives:

Convenient – by using your mortgage you only need to worry about one loan repayment.
Quick if it involves a redraw – depending on the lender, redraw can be a matter of a simple phone call, unlike getting a loan from scratch where the broker needs to verify income and do credit s checks.
Affordability – if you are ahead on your mortgage, this means you may not need to increase your repayments

Negatives:

Its an expensive option – Interest rates may be lower however, the size of the debt and the effect of compound interest over time means you pay more interest therefore costing you more in the long run. Also you may get charged with redraw fees to access the funds.
Keeping Track is difficult- by not separating out a car loan you cant make additional payments which will enable you to have full equity or paying off the car
Could end up being time consuming if you need to refinance your mortgage in order to get the car loan – if you are not in front on our mortgage repayments and don’t have the excess funds to redraw, going through the mortgage loans process will take a lot longer than obtaining a car loan. For example, when obtaining a mortgage, your broker will need to arrange a valuation of your property. This could blow out into weeks, making the process extremely cumbersome.

If you need to know more information about obtaining a car loan instead of using your mortgage, call our friendly staff at natloans on 1300628562.

Technorati Tags: car finance with your mortgage, car loans vs home loans, mortgage your car finance

Scooter or Car?

Natloans — Fri, 30 Jul 2010 05:48:10 +0000

Finding your car expenses are too expensive? Yes surely a car is ideal for family use, but how about when you are going to work each day or just to the local supermarket? You don’t need a car, these days petrol prices aren’t the cheapest, the days of filling your tank with $20 are gone! So why not downsize to a scooter?

There is an increase of environmental concerns, there are thousands of cars on the road each day, imagine the amount of pollution that is constantly hovering around us. Not only this it is now a struggle to find parking all over Melbourne, unless you are willing to pay for parking you will be moving your car every hour to minimize your risk of getting fined! Scooters are small and compact you can just park them at bike racks. Another highlight is that you don’t even have to wait in traffic. You can speed by traffic jams and get to your destination faster and many scooters are now made for gas consumption which is a cheaper option rather than petrol. What’s not to love?

The maintenance of your scooter should be of high concern, things like checking your oils, tire pressure and battery should be done every month. Every six months you should check and change if needed your tires and breaks, these components are important for your safety, you don’t want your scooter to lose control resulting in injuries. Remember you will be using it as much as a car and this only has two wheels!

Before making a decision weigh up the benefits of using a car or a scooter and seek for ways in which to save in the long run. Maybe it will involve having both and using each for different occasions at the end of the day it is what you prefer more!

Technorati Tags: car loans, Scooter Loans

New Year’s Resolutions

Natloans — Thu, 29 Jul 2010 05:56:39 +0000

Happy new financial year! Now is a great time to start afresh by reviewing your financial goals and putting strategies into place to achieve them. If you plan and take action, you could really hit the ground running for 2010/11. You may have a tax return, or an end of financial year bonus or a new pay increase which can contribute to you achieving these goals.

This applies to whether you looking at upgrading or downsizing in a new car or even refinancing the residual at the end of your loan term. You can do this wisely and prudently if you have a proper strategy and stick to it.

Consider the following tips in getting the best deal possible on your next car:

Cash Up

Try saving your tax returns and bonus towards a deposit in your new wheels. By doing this you reduce the amount of exposure you have on the goods and make yourself more appealing to the lender. Lenders are conservative and want to know that their risk is reduced if in case the loan goes ‘pear shaped’. By saving a good deposit, you give the lender more of a reason to say ‘approved’. It shows thought and planning has gone into the process of purchasing the car. With refinancing of residuals, don’t just accept what the current financier is offering you. Seeing a broker may add a few extra steps to the process, but it could work out to be a very worthwhile exercise.

Match the loan repayments to your budget

Before you go out looking for a new car, determine what you want to spend in accordance with your monthly budget. There is no use falling in love with a car that will cost you repayments of $700 per month if you only feel comfortable paying $500. Be realistic and factor in a “buffer”, that way if your circumstances change, it is still easy to meet the minimum repayments. Use a budget calculator, spend some time analyzing your circumstances and then make your decision. There are great deals on all the time, you won’t miss out.

Think outside the interest rate

When you do get the car loan, make a promise to make additional repayments where ever possible. You may be finding that the loan you are going for may not reward you for extra payments but sting you with fees instead. Try to get a loan product which enables you to make these additional payments so that when next financial years comes around and you have some extra cash, you can place this on your loan and effectively reduce the amount of interest you pay in the long run for the car loan. Choosing the best car loan requires more than finding the best interest rate. Features such as the ability to make additional repayments can save you hundreds or even thousands.

Technorati Tags: car interest rate, car loan, new years resolutions