Gift giving is on everyone’s mind at this time of year. We’re often asked about a better way to finance those big ticket items that usually go on the credit card or eat large holes in your savings account. Whether it’s an overseas holiday, a new car, a great set of furniture or even a boat, we can help you get the right finance so the gift giving experience is just as much fun for you as it is for the lucky loved-ones!

How to make a real splash!
Watersports have long been a passion for many Australians and a boat provides some great opportunities for family activities and together time in the great summer weather. If you’ve been thinking about buying a boat this festive season, you’ll already have in mind the kind of boat that will be appropriate for your purposes.

Whether you’re thrilled by the idea of going sailing, waterskiing or fishing, getting your finance in place before you start shopping for the boat model you want will help you set a reasonable budget and put you in a great position to negotiate the best price. We can pick and choose amongst a variety of lenders to help you find the right asset financing for your needs and personal circumstances.

Comparing models and prices can be a bit confusing. And there’s usually a load of extras that can drive up the price and catch you by surprise. A great way to compare models when you’re shopping around – and make sure you find one that’s in your budget – is to use a Boat Buyer’s Checklist.

Drive a hard bargain at the end of year car sales
One of the things we love to help you with is asset financing for a new car. If you’re thinking about buying a new family car, a first car for a young person, or even a big surprise for that special someone, then this is a great time of year to do it!

Car dealerships are already announcing their end of year sales on this year’s models all over town. And even where no sales are advertised, it’s the time of year when the dealers want to move this year’s models so they’re much more open to negotiation.

The one thing you’ll want to avoid is dealership financing. Whilst the advertised interest rate often sounds great, it’s usually a one-size-fits all deal that doesn’t take into account all the financing fees, charges and penalties – or your personal circumstances. Getting your financing in place first will also insulate you from the pressures and tricks the dealerships try on you when you sit down to sign the deal – extras that drive up the costs and don’t do you any favours.

The key to getting the best price is to have your financing in place first. This will help set a budget benchmark for your negotiations once you choose the model you want. You can shop at several dealerships for the best price and then drive a hard bargain by making them compete for your business.

Avoid blistering your credit card
So what about those big ticket items you would usually put on a credit card? Whether you’re planning to purchase an overseas holiday, that great furniture set you’ve had your eye on, renovations like a new kitchen or even just a whole swag of gifts for the entire family, you’d be wise to avoid the really high interest rates that may go with putting it on your credit card.

For items like these, you might consider using a Personal Loan. They offer a much lower interest rate than credit cards, set repayments so you can budget easily, plus a variety of features that make them a great alternative for your personal credit needs. 

For example, you could get a Fixed Rate Personal Loan that fixes the interest rate and repayment amount for the life of the loan, so you’ll always know how much you need to repay. They usually offer terms from one to seven years and allow you to choose to make repayments when it’s convenient for you – weekly, fortnightly or monthly. 

Or you could choose a Variable Rate Personal Loan that gives you almost as much flexibility as a credit card – the ability to make extra repayments without a fee, redraw those additional payments if you need to, pay when’s convenient for you and a term from one to seven years.

Just like we do for mortgages and asset financing, we can shop around with a variety of different lenders to find you the best rate, features and loan term to meet your particular needs. So if you’d like to talk about financing for your festive season gifts and purchases, just get in touch today!

 

This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.  Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.
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