Personal Loans tailored to your needs

Are you looking to buy a new car? Take an overseas holiday? Consolidate some debts? A personal loan may be the answer.

Sometimes called a consumer loan, a personal loan is where the lender will give you money for personal, family or household use. Common reasons for applying for a personal loan include:

• Personal (health or medical reasons)

• Recreational (boat, caravan, jet ski)

• Vehicles (car, motor bike, van)

• Debt consolidation

• Leisure equipment

• Holidays

Personal loans are either approved as unsecured or secured.

An unsecured loan is where money borrowed from a lender is not guaranteed against a security.

A secured loan is where the borrower, along with a promise to repay, puts up some asset as surety for the loan.

The repayments for both an unsecured and secured loan is usually a fixed amount, paid in instalments, over a fixed term.

What options are available for vehicle finance?

At Rosa Financial Services I have access to a number of additional options for financing of vehicles including:

• Chattel mortgage: Where your lender places a mortgage on the vehicle so that the car becomes security against the loan. The lender feels secure that you will pay the loan back and in return you get a lower interest rate for the duration of the mortgage.

• Hire purchase: Where you pay instalments (with interest) to your lender for a fixed period. You don’t own the vehicle until the final payment of the loan.

• Leasing: Where you pay for the use of the vehicle, but do not own the vehicle during the term of the lease.  At the end of the lease, you have the option to purchase.

You may consider a personal loan, or financing option to keep access to your cash on hand and spread out the cost of your car over a fixed time period.

Using a mortgage broker to secure your personal or vehicle loan offers a greater range of providers, allowing for competitive rates and agreeable repayment terms.

If you want to know more about applying for a personal loan …

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