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Consumer Secured Loans

If you’d like to buy a car and it’s not going to be used for business purposes then a Consumer Loan is for you. Our secured loans mean you can make extra payments when you want and, the interest is calculated daily.

An advantage of a personal consumer loan is that you will be able own and use the asset financed immediately. This appeals to many of our clients. The best way to look at whether a personal consumer loan is right for you is to look at like this: If you are planning to use the asset for more than 50% personal use than this loan product is right for you. Our clients’ use a personal consumer loan to finance assets like cars, motorbikes, boats, caravans, trailers and jet skis.

Who can benefit from Consumer Secured Loans

  • A personal consumer loan is suitable for anyone who is planning to use the asset for non-business use. If you plan to use the asset for more than 50% business use a business loan would be a better solution.

Consumer Secured Loan Key Features

  • $0 pentiles for extra repayments
  • Interest rates are fixed for the full term of the loan
  • The title is held in your name from the commencement of the loan
  • Asset backed clients can set up a balloon or residual – A payment which is larger than your other payments and is at the end of the loan. Can help to reduce interest paid on the loan.
  • Additional repayments can be made anytime during the loan
  • The secured loan can be paid out before the end of the loan contract
  • Depreciation can be claimed if used for business
  • A deposit may be required.

Consumer secured loan benefits

  • From the time the starts of the loan you own the asset
  • You can pay off your loan early with extra payments
  • Claim depreciation when it is business for business
  • Don’t pay any upfront fees, They can be consolidated in the loan
  • No deposit is needed but helps and will save you interest

Consumer secured loan interest rates

  • Interest is calculated daily and charged monthly.
  • Interest rate is fixed throughout the term of the loan.

Consumer secured loan fees and charges

  • There’s an establishment fee and a small charge if you want a cash booklet.
  • There may also be an early termination charge.

Consumer secured loan repayment schedules

Repayments can be made

  • Fortnightly
  • Monthly
  • Yearly
  • Quarterly
  • Semi Annually
  • Seasonal
  • Irregular

Click here to review our Comparison Table of Loan Products

 

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