Interest rates can be tough to read. Australiawide Finance’s Colin Cooper can help safely negotiate the loan market.
We’ve had the fastest and sharpest interest-rate rises in recent history, but at the time of writing, we’re seeing cautious signs of inflation being beaten. The upside is some projected cuts in official rates, but we’re already seeing signs of discounting – the large field of financiers intent on maintaining and growing their market share need to keep their lending volumes up. We find that although the official published interest rates are presently marginally below eight per cent for the best deals, we can often get beneath 7.5 per cent interest rates with a well-timed phone call before placing an application.
Get the right rate
There is a broad mass of financiers offering a variety of loan products and the field widens almost every day. What used to be a small area of operation for bank-owned finance companies has spread out to many different types of loan facilities in an unregulated market which can be hard to navigate. We notice more internet-based financiers offering both secured and unsecured loans, the cost of which is often unattainable until after an application is made, and counted only in weekly or fortnightly repayments. Fast and easy, but it pays to shop around and consult an expert to help you navigate and make sure the expected long-term loan relationship you are going into is the best one to suit your needs.
Get the right deal
Along with a variety of rates, there is also now a variety of services and facilities, many of which are slanted away from the easy to obtain new vehicle and equipment finance market. We routinely have enquiries for engine builds and replacements, additions of canopies and winches, private sales and older machines, and in many cases our new customer has made several enquiries elsewhere without success. We recognise it’s important to get these things done quickly, cheaply and with as little fuss as possible, and that is what we do!
Here’s hoping this is a great year for everybody and we look forward to hearing from you if you have any questions.
For fast, expert financial advice, contact Australiawide Finance. Start by logging on to australiawidefinance.au or phoning 1300 367 327.
