Personal Loan

Buying Your First Car – Follow This Checklist

By | Personal Loan

Buying your first car is an exciting time that can also be a little daunting. Whether it’s going to be a brand-new car or a used car, it’s still a major purchase and one you will want to get right. Before going out and making a purchase, there are some things you’ll need to be mindful of.

This article will be offering tips to consider before buying a car.

Decide On a Budget for Your First Car

Before going out shopping at a car dealership or online, you’ll need to decide how much you’re willing to spend on your first car. Keep in mind that the price of the car isn’t necessarily going to include registration or insurance costs, so you’ll need to factor those costs in.

No matter how you plan to pay for the purchase, you’ll want to settle on a figure that you are comfortable paying and can afford to pay. With that in mind, that brings us to the next point.

How Are You Going To Pay for It?

If you’re buying a used car, you may have been able to save up enough money to make the purchase in cash. However, if it’s a brand new car, chances are, you’ll need finance to get you behind the wheel.

Most car dealerships offer finance in-house. While some of these offers are fine and can be very tempting, always be sure to fully understand the terms of the finance before agreeing to sign a contract.

It’s wise to shop around for deals on car loans and never allow yourself to be pressured into making a purchase. Take your time so you make the right choices. It’s a major purchase and you don’t want to drive away feeling like you’ve taken the wrong option.

Rather than simply considering the dealer’s finance option, see what other lenders are offering on car finance. Consider taking out a Car Loan with a private lender like Cashify, as you’ll receive a very competitive deal with a rapid turnaround time from application to approval.

Decide What Type of Car You Want

This isn’t just about the make and model or what colour you want it to be. You need to consider what you’ll be using your car for, whether you’ll be regularly carrying numerous passengers and so on. The size of the car is important. Some people want a small, economical car that’s suited to busy city traffic. Others might want a bigger car that can carry more stuff, such as surfboards or camping gear.

Take your time to really think about the type and size of car you want and need. This will ensure you make the right purchase and don’t have any regrets later on.

Write up a checklist for buying your first car. Include things like the type of car, your budget, accessories the car needs to have, things to be careful of when dealing with salespeople, what to look for in a used car (if not buying new) and so on.

Take Someone Experienced With You When You Go Car Shopping

If it’s your very first car, it’s likely that you have little to no experience when it comes to the car sales game. Therefore, you should always have an experienced person with you. Someone who has been there and done it all before is far less likely to get hustled into a deal and will also know exactly what to look for regarding the car, the salesperson and any finance deals that are on offer.

If you go out car hunting with an experienced individual, you’ll naturally feel a lot more comfortable and confident about things.

Buy At The End Of a Month

If the plan is to buy a car from a dealership, try and time your purchase for the end of the month. Many dealers have sales quotas to try and fill on a monthly basis, so if they are short on their quota as the month draws to a close, there’s a chance you could get a better deal with a nice juicy discount or some extras thrown in.

Buy Your First Car With a Loan from Cashify Loans

The team at Cashify has been proudly helping everyday Aussies get behind the wheel of their very first car with our competitive Car Loans or a simple personal caravan loan. We offer fast approvals for any cash loan in Australia and can tailor a car loan to suit you. If you’re in the market for your first car and you need finance to make the purchase, talk to us first. We’ll help you get on the road sooner rather than later.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

5 Reasons To Choose a Personal Loan Over Another Type of Debt

By | Personal Loan

When it comes to financing, there are a number of loan and credit options available to everyday Australians. One of the most popular choices is the Personal Loan. Another very popular choice is the credit card. While credit cards can be handy, they have some disadvantages in comparison to taking out a Personal Loan.

Let’s take a look at some key reasons why you should choose a Personal Loan over a credit card or other forms of personal finance, such as pawnbroking loans and so on.

#1 – A Personal Loan Has An End Date

When you take out a Personal Loan you’ll choose the loan terms. In other words, how long you want to repay the loan. Banks tend to offer terms ranging from 1 to 7 years, depending on the amount of money you borrow. Private lenders offer terms from as little as 2 months upwards for people who want to get out of debt sooner.

When there is an end date in sight, you have a goal to work towards. With a credit card, unless you aim to repay the balance in full if you just keep making the minimum monthly payment, that credit card debt never actually ends.

#2 – Personal Loans Offer Better Interest Rates Than Credit Cards

Although you can occasionally get a good deal on a credit card when it comes to the interest rate, most of the time, a Personal Loan is going to offer you a much more competitive rate of interest than a credit card. Of course, the interest rates vary from lender to lender for both Personal Loans and credit cards, and can even be personalised based on your credit history. It is best to do your research and read the fine print.

#3 – Personal Loans Can be Used for a Variety of Purposes

Unlike some other types of finance, like mortgages, Car Loans, Caveat Loans and so on, a Personal Loan is quite flexible and the funds can be put towards a number of different things.

What’s the reason you would apply for a small loan online?

Once you’ve answered that question, you’ll be able to verify with your chosen lender whether your loan spending intentions meet their lending criteria.

Some popular uses for a personal loan include:

#4 – No Collateral Is Required for a Personal Loan

Many lenders give you the option of secured or unsecured Personal Loans. A secured Personal Loan requires collateral but tends to have a lower rate of interest than an unsecured loan. The advantage of the unsecured Personal Loan is you don’t need any form of collateral to apply for and be approved for the loan and you’re also not risking your possessions while repaying the debt.

Not requiring any collateral, or even having to come up with a deposit, makes a Personal Loan one of the most attractive finance options available today.

#5 – Use a Personal Loan To Consolidate Your Credit Card Debt

As mentioned earlier in the piece, credit cards can present ongoing debts that never seem to end. The longer you maintain an outstanding balance on a credit card, the more interest you’re going to pay.

If you have two or more credit cards that you are struggling to stay on top of, you’re better off taking out a quick and easy loan to pay out those credit cards and get rid of them once and for all. Consolidating your credit card debt with a Personal Loan will give you an end date, reduce the amount of money you pay in interest overall, and you’ll only have one regular repayment to think about. This repayment will also generally be lower than what you were paying monthly on your credit cards combined.

Debt consolidation of your credit cards will allow you to get on top of your finances and put more money back in your pocket.

Get a Great Deal On Personal Loans

Cashify offers some of the most competitive deals on Personal Loans. To learn more, either browse our website or get in touch today and discuss your options with our friendly staff.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

What To Consider With Debt Consolidation Loans

By | Personal Loan

Consolidating debt is something that is talked about more and more in financial circles these days. You see commercials on TV about it, accountants and financial advisors often talk about it and the subject may even come up around dinner table conversation from time to time.

Debt consolidation is something that’s becoming increasingly popular and for good reason. Consolidating two or more debts into one is a positive step to take to regain control of your finances and feel like you can breathe easy and live again. Having said that, before taking out a Debt Consolidation Loan, there are some things to consider and be mindful of.

How Does Debt Consolidation Manage Financial Risks and Improve Your Finances?

The more debts you have outstanding, the more risk there is of you getting into some sort of financial trouble. Let’s say you have multiple credit cards and have debt racked up on each card. Every month, you’ll need to come up with multiple minimum payments to make on those cards. If you have a bad month where money is tight, you may find you can’t make those repayments.

Too many debts accrue too much interest and the total repayment amounts can be crippling. Debt consolidation can relieve stress and pressure by lowering the overall interest rate and also lowering the overall amount you have to repay monthly. Once everything has been consolidated into one simple loan, you then only have to remember to make one repayment each month instead of multiple monthly payments.

Debt consolidation helps you manage your financial risk as well as putting you in a much more favourable position financially. You still repay the money you owe, but with a lower interest rate and more money in your pocket.

Always Look for a Good Deal Before Committing To a Debt Consolidation Loan

There are a few things to look for when trying to decide on which Debt Consolidation Loan or Personal Loan to apply for. Take some time to do a bit of research before making any decisions.

You’ll want to find a lender who is offering competitive interest rates and most importantly, an interest rate that is lower than the rates you are currently being charged on your existing debts that you want to consolidate.

Interest rates are not the only thing you want to take note of though. Does the lender charge any fees, such as a loan application fee or monthly account keeping fees? If so, how much are those fees and is the lender transparent about any associated fees attached to the loan?

You’ll want to choose a lender that offers you a good deal on instant short-term loans, as well as a company that is open and honest about any charges associated with the loan.

Steps To Taking Out a Debt Consolidation Loan

You’re probably wondering how to take out a debt consolidation loan in Australia. Well, the process is generally pretty simple these days, as you can do the application online. Just have all of your details ready to go and fill out the online form. Any documents required to accompany your application can generally be uploaded in electronic format as well, which means you won’t even have to leave the house to complete the entire application process.

Here are some basic criteria you’ll need to meet to qualify for a Debt Consolidation Loan:

  • Currently have 2 or more outstanding debts to consolidate
  • Be 18 years of age or older
  • An Australian citizen or permanent resident
  • Be able to prove your identity
  • Have the means to repay the loan

Once you have completed your application, if and when it gets approved, you can either organise to have your lender pay out those existing debts, or you can do that yourself once you have the funds.

Before taking out a loan for debt consolidation, you might want to discuss your financial situation with your accountant or financial advisor to devise the best plan of action.

Talk To Us First About Debt Consolidation

If you find yourself drowning in debt that you are struggling to manage, get in touch with the experts at Cashify. We can assist you with debt consolidation at very competitive rates, so be sure to talk to us first.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

4 Smart Ways To Finance Your Education

By | Personal Loan

Education is an investment in your future, so even though it comes with tuition fees and other expenditures, it’s usually well worth it. Learning new skills and knowledge opens doors, doors that can lead to a brighter financial future and more rewarding job or business prospects.

While it’s all well and good to know that investing in your education is a positive thing, you still need to be able to find the money to pay for that education and that’s where this article is going to help you out.
Let’s look at some practical and smart ways to finance your education.

#1 – Are You Eligible for a Grant?

If you do some research, you’ll discover that there are always grants available for education, whether they be government grants or grants offered by private enterprises. Of course, you first have to meet the criteria to qualify for an education grant, but it’s worth taking the time to investigate this possibility.

If you do happen to qualify for a grant, the amount of money you receive may be enough to cover all of your education expenses. At the very least, the grant will cover a sizeable portion of the tuition costs.

You could start off your search by checking out this government website.

#2 – Do You Qualify for a Scholarship?

Just as with the grants for education, there are also education scholarships available from the government, private enterprises and some universities. Once again, not everyone is going to be eligible for a scholarship, but it doesn’t hurt to take some time to do your research and possibly apply for a scholarship.

As with the study grants, you could commence your search on Australian government websites for scholarships, as well as advice on where to find study scholarships and how to go about applying for one.

#3 – Work Hard First Then Study Later

If you don’t yet have the money to pay for your tuition and living expenses while you study, and you don’t qualify for a grant or a scholarship, you could delay your studies and work hard for a time first. The job you get may not be your dream job, but it can be a stepping stone to getting that dream job.

All you need right now is something that pays you money. Work hard for a year or two, save as much as you can, then you’ll be able to pay your tuition fees, undergo your area of study and come out the other side ready to embark on a new career.

#4 – Take Out a Loan for Education Expenses

Most Australian lenders will either offer special education loans or allow you to apply for a Personal Loan with the primary reason being to pay for your education. The good news about these loans is lenders can be more willing to approve the application when they know you want the money for your education.

How can Education Loans be helpful?

What are the characteristics of an Education Loan?

An Education Loan will free you up to enrol in your chosen course or area of study without you worrying about where the money is going to come from and how you’re going to pay your way. With some part-time work you can repay the loan, then perhaps pay it off more quickly once you’ve finished studying and have landed a good job as a result.

Many loans for education purposes will have lower interest rates and you can generally borrow amounts ranging from around $2k up to $50k. While banks may have minimum repayment terms of one year, private lenders offer short term loans online, where you have the opportunity to repay the borrowed funds in as little as 3 months if you wish. Having said that, depending on the amount you borrow, you can get up to 7 years to repay the debt.

Talk To Cashify About Financing Your Education

The fastest way to get started on the course you plan to study is to take out a loan to pay for those education expenses. Cashify has been helping everyday Australians achieve their dreams, so get in touch with us today to learn how we can help you get the education you deserve.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

Sick or Injured? Tops Tips for Taking the Stress Out of the Situation

By | Personal Loan

If you are currently suffering from an illness, have recently had an accident and sustained a personal injury, or are close to someone in one of these scenarios, you’ll fully understand just how stressful it can all be on a number of levels. No one asks to be in a situation like this and your health is everything. It can be difficult to focus on anything else when sick or injured.

This post is going to be offering some tips and ideas for dealing with the stress of the situation, along with some advice on covering the financial costs involved.

Find Someone To Take Care of the Day To Day Errands

Whether you find yourself in hospital or at home unable to take care of the day to day tasks and errands, finding someone who can do all of this for you will be taking a load off your mind and go a long way towards reducing those stress levels.

Unfortunately, when you fall ill or injure yourself, everyday tasks still need to get done regardless, so having a helper by your side will prove to be a great benefit.

Focus On Getting Better As Much As Possible

It was mentioned in the section above about having someone help take care of day to day tasks. Well, the more help you can get in any area you may need it, the more you’ll be able to relax a little and just focus most or all of your attention on recovering and getting better.

An illness or injury can certainly be energy sapping in many ways, so the more energy and focus you can reserve for recovery, the better. The mind plays a major role in getting over a physical ailment, so it’s vital that you give your mind every advantage it can get.

Accept That Some Things Are Temporarily Out Of Your Control

If you’re currently fighting through an illness or healing from an injury, it can be frustrating when some things feel like they are out of your control. Temporary acceptance is the key here, otherwise, if you fight it, you’re just going to grow more and more frustrated. This will elevate the levels of stress and possibly delay your recuperation and recovery.

You can’t do everything you would normally do when you’re unwell or incapacitated in some way and it’s important to accept that fact for your own benefit.

Learn To Meditate While Laid Up

Meditation can be a powerful tool at any time, but what better time to learn it than when you can’t do much anyway. Meditation will teach you how to relax and this can go a long way towards speeding up your recovery and getting back to normal.

How To Financially Handle Unexpected Illness or Injury

One of the greatest hurdles when it comes to suffering from an injury or illness is the financial costs involved for treatment, along with the possibility of a loss of income for a time if you cannot go to work.

One solution to this dilemma is finance. This is how an emergency cash loan in Australia can help you.

Work out how much money you’ll need to cover the cost of care and any temporary loss of income, then apply for a Personal Loan or medical procedure loan to cover those costs. Once you’re feeling better and have recovered, then you can focus your attention on repaying the debt.

Alternatively, you may be able to raise the funds you need through other means. You could try running a GoFundMe campaign, borrowing the money from a friend or family member, taking out a credit card, selling off some of your possessions (or have someone do it for you).

There are always ways to raise money and these are just a select few ideas. You can search online for other useful tips and ideas to raise cash quickly.

How Cashify Loans Can Help

If you’re sick or injured and money is a problem, talk to Cashify about a Medical Loan or Personal Loan today. Let us help take the money worries out of the equation so you can rest up and fully recover. You can even apply online. For more information, browse our website or talk to us today.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

Applying for Personal Loans Online – What Are the Advantages?

By | Personal Loan

Personal Loans are one of the most common and popular forms of finance in the country. Each year, Aussies decide to take out a Personal Loan for caravans, pay for home renovations, buy new furniture, finance their bike loan and much more.

In the modern world, the majority of Australian lenders enable borrowers to fill out applications for a small loan online, from the comfort of their homes.

In this article, we’re going to be looking at the advantages of applying for a Personal Loan online and how it makes the process so much easier.

Why is an online Personal Loan the best way to get fast cash?

If you think about how the process used to work to apply for a Personal Loan, typically you would have to go into the bank and wait to see a representative before filling out a paper application. If you don’t have the necessary supporting documentation with you at the time or are asked for additional documents, you would then have to return to the bank at a later stage and once again wait to see the person in charge of loan applications to submit the paperwork. Even if the application then got approved, it would be back to the bank to sign contracts before you receive your money.

Being able to do the entire process online is not only far more convenient, but it’s also so much faster. Whether it’s a loan through a bank or a private lender, all the information you need to know about the loan application and what you need is all right there in front of you. Everything can be filled out online and you can even upload digital copies of your documents. Once that’s done, simply submit your application and await the outcome.

Online applications definitely speed up the entire process.

Online Applications Save Time and Money

You save time during the entire process by not having to travel anywhere or endure long and slow lines at a bank or other lending institution. We all know time is valuable. Being able to do an online application also means you don’t have to waste your lunch hour at the bank either, as you can do it from home in the evening.

The fact that you don’t have to travel anywhere to apply for finance also means you’ll save money on any associated travel costs.

If you’re asked for any additional documents, you can simply upload them on the online portal to accompany your Personal Loan application.

You Can Prepare Your Answers and Application Requirements Before Starting

Filling out paper forms at a bank or other lender can often feel like pressure and there’s a chance that there will be a question that you don’t have a ready answer to, maybe something that needs to be calculated at home.

This is where an online application is so much easier. Before starting, you’ll be given an overview of what you’ll need and even as you go through the questions, if you can’t answer one immediately, you can spend time working out the answer and come back to your application when you’re ready.

Having this kind of relaxed freedom makes applying for a Personal Loan a lot less stressful and also makes it far easier to complete the application accurately.

24/7 Loan Applications Are Super Convenient

It no longer matters when you have free time or what other commitments you have in life, online loan applications can be done at any time of the day or week. Even on weekends you can fill out and submit your application for a Personal Loan.

This all adds up to the ultimate convenience. Even if the lender only operates from Monday to Friday, you can still submit your application online at any time so it’s there for someone to take a look at when the lender is open for business.

Apply For a Fast Personal Loan With Cashify

If you want a Personal Loan and you want it fast, you’re better off choosing a private lender like Cashify. We specialise in processing and approving loan applications in rapid time and you can complete the application entirely online. If you need money fast, talk to us first.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

4 Scenarios Where You Might Need a Fast Personal Loan

By | Personal Loan

There are numerous scenarios where you might need to take out a small loan online, or where you need to get your hands on some money fast. If you’re faced with an urgent situation that requires money to solve, if you don’t have the cash on hand, your stress levels are going to go through the roof.

Let’s look at some situations in life when an instant Personal Loan helps to solve your problem and makes life easier.

#1 – You Are Suddenly Faced With a Medical Emergency

Medical emergencies can be some of the most stressful situations of all. Usually, money is going to be required to receive medical treatment. Add that in with the strain of being ill or suffering from an accident and things can feel very bleak.

If you take out a fast personal medical procedure loan to cover the financial burden of the medical emergency, at least you won’t have to be worrying about how you’re going to pay for treatment on top of feeling unwell.

#2 – Your Work Vehicle Breaks Down

Having your car break down at any time and not having the money to fix it can be stressful enough, but if your income and livelihood depend on that vehicle, then the situation becomes even more urgent.

Taking out a fast Personal Loan to pay for car repairs means you’ll be back on the road sooner and continuing to earn an income. This will enable you to repay the loan in a quick time.

#3 – Your Current Debts Are Spiralling Out of Control

Another common reason why you might take out an urgent Loan is when you feel like your debts are getting the better of you. Taking out a short-term loan online to solve this might sound counterintuitive at first, but if you use the loan to consolidate two or more other debts, you can save yourself money on interest, simplify your debt situation and possibly reduce the amount of money you have to make in repayments each month.

Personal loans for debt consolidation are something that more and more Australians are taking advantage of, as it enables you to wrestle your finances back under control so they are more manageable.

#4 – You’re Faced With An Emergency In the Home

An example might be something like a burst water pipe that has caused some damage. You need to find the money to pay the plumber and for some repairs around the house due to the burst pipe. If you don’t have the money handy, then an emergency weekend loan can really come to the rescue.

That’s just one example of an emergency situation in the home. Another could be damage from a severe storm, an unexpected vet bill or funeral costs.

An Overview of Fast Personal Loans

If you really want a fast Personal Loan, where you can have your loan processed, and approved and the money in your bank account in a quick time, you’re better off dealing with a private lender than one of the big banks. Private lenders are renowned for fast turnaround times, whereas banks can be a little tardy when it comes to processing loan applications.

Fast Personal Loans also tend to offer shorter repayment terms if that suits you, from as little as several months to several years to repay the debt.

Interest rates from private lenders are also highly competitive, along with the advantage of speedy service.

Fast Personal Loans With Cashify

Cashify is an Australian-owned and operated lender. We specialise in offering a suite of Personal Loans and other loans for everyday Australians. Our processing and approval times for loan applications are rapid, so if you need money quickly, be sure to talk to us first.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

Let’s Talk About Debt Consolidation Loans and What You Need To Know

By | Personal Loan

Debt consolidation is something you hear quite often in Australia these days. Many Aussies are struggling with juggling multiple debts of all kinds, so debt consolidation is a very topical subject for a lot of people.

This article is going to be taking a look at debt consolidation in general, the hidden benefits of a personal debt consolidation loan, as well as the process of applying for one.

What Is Debt Consolidation?

Debt consolidation is simply about combining numerous existing debts into one manageable debt. Debts that can be consolidated include credit cards, personal loans, business loans and other debts.

It’s a process of simplification, making your financial situation far more manageable and less stressful.

What Are the Advantages of Debt Consolidation?

Debt consolidation only works if you have at least two or more outstanding debts. Let’s quickly look at the benefits of debt consolidation.

As mentioned, debt consolidation is about simplifying your finances. Rather than having two or more debts to make repayments on every month, with debt consolidation, you’ll only have to think about making a repayment on the one debt. This means there’s less chance that you will forget to make a payment or be late in making a payment.

Another more hidden advantage of debt consolidation is the possibility of saving cash on interest or admin fees. As a simple example, you might have a number of credit cards that attract high rates of interest. If you can roll these over into a Debt Consolidation Loan with a lower interest rate, you’ll start saving money immediately.

A third benefit that’s likely to be the direct result of debt consolidation is that of not having to make such high repayments every single month. Using the credit card example, you might currently be repaying $1000 per month in minimum monthly payments, whereas with debt consolidation, you may reduce that repayment total considerably, putting more money in your pocket and taking the stress out of your financial situation whilst still repaying your debt.

What is a Debt Consolidation Loan?

A Debt Consolidation Loan is a loan specifically designed to consolidate two or more current debts by rolling them into a new, single loan. The lender may offer loans specifically tailored to debt consolidation, or you might opt for a Personal Loan where you state debt consolidation as the primary reason for taking out the loan.

The Process Of a Debt Consolidation Loan

Once you’ve found a lender for a Debt Consolidation Loan, you’ll want to make sure that you meet their lending criteria. Part of the criteria in this instance will be having two or more eligible outstanding debts that can be consolidated into one loan. You’ll also need to be able to substantiate your loan application with supporting documents that prove your identity and that you have the financial means to repay the loan. If your main source of income is reliant on a Centrelink payment, chances are you won’t get approved for a Debt Consolidation Loan.

If everything is in order and you meet the criteria to apply for a Debt Consolidation Loan, you’ll generally be able to fill out an application form online and submit it along with digital copies of your supporting documentation. This online process helps to speed things up, as well as being convenient. It means you can apply from home at any time that suits you.

Before applying, work out how much you need to borrow to consolidate your debts and use the online calculators to work out the repayment terms and how much you’ll likely have to repay each week or month.

Depending on the lender, they may pay out your nominated debts on your behalf once your loan has been approved or, the money will go into your nominated bank account, after which you can pay out those outstanding debts yourself. Once you’ve paid out those debts, credit cards in particular, it’s wise to completely close those accounts so you don’t increase your debt again.

Talk To Cashify About Debt Consolidation

Cashify is a private lender that specialises in tailoring loans for debt consolidation. To fully understand how we can help you, browse our website and reach out to chat about your current debt situation.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

4 Things You Need To Know About Home Renovation Loans

By | Personal Loan

Part of the great Australian dream isn’t just being able to buy your own home. Many Aussie homeowners love to renovate, improve and update their homes. It could be simply for personal satisfaction or to add value to the home in the event that it’s ever put on the market.

There’s nothing quite as satisfying about having a vision for home improvements and seeing that vision come to life.

Wanting to renovate your home is a fantastic cause, but it’s also something that can cost considerable money, depending on the scope of the proposed renovations. Even just a simple repaint can cost a pretty penny, let alone remodelling a kitchen and bathrooms.

Home Renovation Loans are the key and this guide to home renovations finance is going to cover a few points to be aware of.

#1 – What Are My Options With Borrowing for a Home Renovation?

When it comes to acquiring finance for home renovations, you have a number of options available to you. The easiest and fastest option is to apply for a Home Renovation Loan or a standard Personal loan, using home improvements as the primary reason for wanting the loan.

A second option is to take advantage of the equity you’ve built up in your home and take out a second mortgage to cover the costs of your renovations.

Thirdly, if your renovation project is only a small one, then perhaps applying for a credit card will often be enough to cover the costs associated with the project. Although this may seem the most straightforward, it is important to understand that credit cards often attract high-interest rates.

It really depends on your personal circumstances and the scope of your remodelling project as to which option will suit you best.

#2 – Work Out How Much Money You Will Need

There’s no point even thinking about what finance option to chase until you have a fair idea of how much money you need to borrow to complete home improvements.

This means you need to first sit down and formulate a budget for your renovations. This budget needs to include the cost of all the materials and fittings, tools, paying for tradies and so on. It can be difficult to arrive at an accurate or exact figure from the outset, but a rough idea will give you an indication of how much cash you’ll need to borrow.

Once you have a budget written down and a total figure, it’s always wise to add a bit more to that figure, as there is bound to be stuff you haven’t thought of or unforeseen expenses that crop up during the renovation phase. It’s better to have too much money than not enough cash to get the job completed.

#3 – Work Out Your Actual Borrowing Power

It’s all well and good to decide that you want to borrow X amount of money for home improvements, but you also have to take your borrowing power into consideration. For example, you might decide you need $100k to complete your dream project, but your borrowing power might be limited to only $50k.

There are ways to work out your borrowing power. One thing you can do is have a discussion with your lender to determine how much money you can potentially loan for renovations. Another option is to visit the lender’s website and use the borrowing power calculator you’ll find on the websites of most Australian lenders. This calculator will at least give you a rough idea of how much you can afford before you speak to your lender directly or submit an application for a loan.

#4 – Does the Lender Offer Terms That Suit Your Circumstances?

If you have the financial means, rather than remaining in debt for a lengthy period of time, you may want to opt for an instant short-term loan for renovations; perhaps a few months to a few years. Does the lender offer short term finance?

If you were to take out a Personal Loan for home renovations with a bank, for example, their minimum terms might be two years to repay the loan. This won’t suit you if your desire is to get the loan repaid within 6 months. The longer you repay the loan, the longer you have a debt hanging over your head and the more you’ll be paying in interest.
For small loans online, private lenders are the best option.

Cashify Can Help

Cashify specialises in helping everyday Aussies realise their home renovation dreams. We have a range of loans that may suit you, so get in touch today to discuss your options.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

Emergency Loan – A Perfect Answer For Financial Emergencies

By | Personal Loan

Anyone who is faced with any sort of emergency or urgent situation will likely need money to help resolve the problem expediently. It doesn’t matter what the emergency is, everything costs money in life, so the chances are high you’ll need to be able to get your hands on some cash, and fast!

This is where an Emergency Loan can really save the day.

In this article, we’re going to be taking a closer look at urgent loans, when you might need one, what they’re all about and where to get a fast Emergency Loan.

When Might You Need An Emergency Loan?

Naturally, you’ll need to find the money somewhere to resolve your problem, so if you don’t have the money on hand, one of the quickest ways of finding the money you need is to borrow it from a lender; whether that be a bank or a company in the private lending sector.

One common emergency scenario where you’ll need money is an emergency medical procedure loan. This could be a sudden illness or an accident. Medical care costs money, even if you have private health insurance and Medicare. Most of the time, you’ll need cash upfront to cover medical expenses and medications. Medical emergencies are stressful enough, so you won’t want to have financial pressure placed on top of the situation.

Another typical scenario is when something happens to your home. Perhaps there was a severe storm and your house suffered hail damage or was partially destroyed by a falling tree. Even if you have insurance, making a claim takes time. You’ll need money fast to get back to normal and an emergency loan for home renovations can help. You can always repay that loan once your insurance payout comes through.

A similar scenario might be when your car breaks down or you’re involved in an accident that leaves you without your own transport. An Emergency Loan can give you the funding to have your car repaired and also to hire a car while you’re waiting for repairs to be completed.

The 3 scenarios above are just a few examples of when an Emergency Loan can come to the rescue.

What Are the Key Features Of An Emergency Loan?

Let’s see what the features of a typical Emergency Loan are. These will vary between lenders, but here’s a general guide.

An Emergency Loan will usually allow you to borrow amounts ranging from a few thousand dollars and up to around $50K, depending on how much money you need to resolve your situation.

With the majority of Australian lenders, you’ll be able to fill out your loan application online, along with being able to upload supporting documentation with the completed application. This is convenient, saves time and will help speed up processing times.

You can often find lower interest rates on loans, particularly if you decide to take out a loan with a private lender.

Another advantage to private lenders is the speed with which the loan application is processed and approved. You’re faced with an emergency. You won’t want to be waiting weeks for the outcome of your loan application. Private lenders make a point of processing and approving loan applications quickly, so lenders in the private sector are your best option when you need money fast. You can have your hands on the money you require within a day or two in most cases.

When it comes to repaying the loan, depending on how much you borrow, you can usually select up to 7 years to repay the debt. Keep in mind that the longer you take to pay back the loan, the more money you’ll end up paying on interest.

To be eligible for an Emergency Loan, you’ll need to be:

  • Over 18 years of age
  • Be an Australian citizen or permanent resident
  • Be currently employed
  • Be able to prove your identity

Take Out An Emergency Loan With Cashify Loans

Cashify is an Australian-owned and operated lender in the private lending sector. We process loans for emergencies in rapid time. Often, you will have the money in your account on the same day, if you apply early in the day. Talk to us about how we can help you with your emergency.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.

Digital Marketing by King Kong