The value of a good Finance Broker is already well known and loved by many here in Australia, but when it comes to financing big-ticket leisure items such as your motorbike, jet ski, camper trailer, caravan or boat, many Australians continue to tread the well-worn path straight down to their local bank.
With interest rates at an all-time low, loans are now cheaper than this generation has seen before. However, the work and knowledge involved in being able to achieve the best loan outcome (including the best interest rate and lowest repayments) can make the idea of shopping around for a better deal seem all too confusing.
This is why more and more people now have an accredited Finance Broker in their corner that is trained to be able to get the best finance deal for them without them even having to leave home!
If you’re considering finance, here are the things you should expect from an experienced finance broker.
Know Their Stuff
There is no “standard” finance story. You are unique, and the same applies to your credit profile. If you walk into some banks you are likely to be offered a one size fits all loan, like a personal loan which normally carries a higher interest rate and repayment. (Now there is nothing too personal about that!) An experienced Finance Broker will have access to multiple loan products which will ensure that you end up being offered not only the most competitive loan but more importantly the right solution for your needs.
A professional Finance Broker will get to know you and take the time to understand your current situation and also your future plans. They will also speak with you about your credit profile and previous loans history to make sure they are fully prepared when they present your application to the financier that is right for you.
At the end of the day a good Finance Broker will work hard for you, not the banks. It’s the job of your Finance Broker to find the best loan fit for you. If done professionally, this will translate into a better deal for you and a better chance of a fast, competitive loan approval the first time around.
Paperwork Made Easy
A professional Finance Broker will be able to offer you a range of convenient loan application options. These will range from a simple online application that you can complete in minutes in the comfort of your own home or office, plus an over the phone interview to help you complete your application details.
Your Finance Broker will be able to save you time and help take the hassle out of the process, including the painful back and forth of information that can transpire throughout the loan application process with the banks. An experienced Finance Broker will know exactly what information the banks are going to need from you upfront to get you the best finance approval. This will save you hours, possibly days in the process.
If you are considering buying something from a private seller then your Finance Broker will also be able to help you find out if your vehicle is encumbered? It is really important to get this part right so you don’t have any nasty surprises down the track. And while we are talking about nasty surprises when buying privately or even through a dealer, a reputable Finance Broker will be able to offer you an extensive vehicle warranty to protect yourself against unwanted mechanical breakdowns. Now which bank would do all this for you? I don’t know of one.
Financing Through A Dealership
In today’s world it’s your right to be given a choice of financiers and loan options to compare. Most Dealerships will only be able to offer you one or two financier options at best. Some of these financiers will be owned or backed by the Manufacturer. This can be very limiting when it comes to being able to offer you a non bias, competitive loan option. An experienced, qualified Finance Broker can be accredited with over 20+ lenders at any one time.
As experienced Finance Brokers we know that the Financiers here in Australia are well known for changing their rates regularly, so the more options that you can easily compare the better. A good Finance Broker will be always up to date with who is offering the best rates and in which scenario they are willing to offer these deals. Your Finance Broker will help you keep the banks honest and make sure that they are hungry for your business.
Protect Your Credit File
At some point you’ll probably be asked, ‘Have you been previously declined for finance?’ If you have your loan declined, the enquiry for that loan application will show on your credit file. Having multiple enquiries on your credit file could be viewed negatively when you apply for finance again in the future. This means that making sure that your loan gets approved the first time is extremely important for you to be able to maintain a great credit score long into the future.
Chances are the best loan result will not come from the bank that you first set up your savings account with when you got your first job. Nor is it likely to be the bank whose ad you saw on the back of a bus on the way to work this morning. The great news for you is there is plenty of financiers on the market willing to negotiate a great deal to get your business. The old saying, ‘It’s not what you know but who you know’ really does ring true in our industry.
Putting it simply, if you’ve got a flawless credit history and you own your own home, the lender for you is going to be different to the lender who is right for your nephew, who just graduated university and wants to buy his first motorbike.
It Really Is All About Personal Service
Take the time initially to let your Finance Broker get to know you, your current needs and future goals. This will in turn make the process of getting your next loan approval even more efficient as they will already have your basic details and can get to work even faster on your approval. For all of the reasons mentioned above, a good Finance Broker is worth their weight in gold to any of their clients!
So Here’s Our Pitch
As a Finance Broker we pride ourselves on being experienced finance professionals. For over 15 years, we have been helping people get a better deal on finance. We have loan specialists in car finance, marine finance and leisure finance (including jet skis, boats, caravans and camper trailers), plus a commercial finance team experienced enough to help you grow your business.
With Ask 4 Finance you get access to your very own experienced Finance Broker from the start. Your personal Finance Broker is available to you 24/7. You get their direct email address and mobile number, which makes it easy for you to stay in contact with them if and when you have questions.
Keen to go boating this summer or are you planning a trip around Australia? Our Leisure Loan Division specialise in financing all of the fun stuff like boats, jet skis, caravans, camper trailers, motorbikes, cars and more.