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, and at the time of writing we’re seeing cautious signs of inflation being beaten. The upside is some projected cuts in official rates. We’re already seeing signs of discounting as the large field of financiers intent of maintaining and growing their market share need to keep their lending volumes up. We find that although the official published rates are presently marginally below 8% for the best deals, we can often get beneath 7.5% 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 that 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 recognize that 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. We look forward to hearing from you if you have any questions.
Published in The Australian Arbor Age Feb/March 2024 Issue
