CAR LOANS

If you are buying your first car or looking to upgrade, make sure you speak to the mortgage brokers at Intellichoice first about finding the right car loan to finance your new set of wheels. We have established a strategic partnership to offer you a quick and easy way to arrange the purchase of your new or used vehicle.

We have access to a comprehensive range of business and personal car loans and will be able to find a product to suit your needs and circumstances.

And don't worry even if you don't fit into the strict lending criteria of the bank - we may still be able to find a finance solution for you. If you have defaults, had too many enquiries on your credit rating, are self employed with no financials, or been declined multiple times without a reason - speak to us about alternative car finance solutions, including our bad credit car loans. We assess each client based on its merits and then offer a tailored finance solution to suit your needs and budget.

Once you have bought your car, you will want peace of mind knowing it is covered with the right type of car insurance, so make sure you protect your car against damage, theft, fire or storm.

Comprehensive Cover

You or anyone you authorise to drive your car will be covered for loss of or damage to your vehicle caused by an event in the period of insurance. This includes loss or damage to your car caused by another party, whether they are insured or not, fire, theft or attempted theft, storm, hail or flood, vandalism or malicious acts.

Fire, theft and third party property damage/extra cover

You or anyone you authorise to drive your car will be covered for an accidental loss of or damage to your vehicle cause by fire or theft in the period of insurance.

Third party property damage cover

You or anyone you authorise to drive your car are covered for the amounts you must legally pay another person to compensate for loss of or damage to their property if the loss or damage is caused by your car, as a result of an event in the period of insurance.

Before taking out any insurance policy, it is important to read through the appropriate product and disclosure statement. Through an alliance with one of their trusted partners, Intellichoice will be able to provide you with a car insurance policy that suits your needs and budget.

Speak to the mortgage brokers at Intellichoice at 1300 55 10 45 and let us help you obtain a car loan and car insurance policy quickly so you can get behind the wheel sooner.

DEBT CONSOLIDATION LOAN

Most people find themselves in debt because they do not have a sound financial plan or budget. Once in debt, they need a sound debt management strategy, for example, through a debt consolidation loan. However, before getting a debt consolidation loan, it is recommended that you speak with Intellichoice first, so they can work out with you which is the best loan option for you depending on your financial circumstances.

Benefits of a debt consolidation loan:

• A debt consolidation loan is the replacement of multiple loans and debts, such as credit cards and unsecured personal loans, with a single personal loan

• By using debt consolidation, you only have to make one payment, instead of making numerous payments

• You may end up with a lower monthly payment and a longer repayment period, and this will greatly help some people to manage their finances more effectively

• It is important to note that you do not have to own property to take advantage of these low interest programs

• A debt consolidation loan generally has a lower interest rate, as compared to the interest rate on credit cards or personal loans

Take control of your debts today. By consolidating all your loans and credit cards into one loan, you can ultimately reduce the amount you pay each month, not to mention the stress and worry. Call 1300 55 10 45 and let Intellichoice help you get back on track.

Consolidate debt with a debt consolidation loan

If you are having trouble managing multiple debts, such as personal loans, car loans and multiple credit cards, you should consider consolidating all of them into a single loan using a debt consolidation loan. Debt consolidation loans are available as unsecured personal loans or as secured loans, such as mortgages.

When should you consider using a debt consolidation loan?

You should consider using a debt consolidation loan when you're in any of the following situations:

• You find it difficult to manage multiple payments

• You cannot deal with several creditors at a time

• You cannot stay current on your repayments

• You would like to replace all your personal loans and credit card debts into one easy monthly repayment

• You wish to save money after making your monthly bill payments

How do you benefit from unsecured debt consolidation loans?

Unsecured debt consolidation loans offer the following benefits as listed below:

• Consolidate debts: Using debt consolidation loans, you can pay off all or most of your debts (such as credit cards, personal loans) at once. You are left with a single loan, which you'll repay through an affordable payment plan.

• Reduce stress: Paying off multiple bills using a single debt consolidation loan reduces your stress level and helps you to avoid dealing with several creditors

• Eliminate collection calls: A debt consolidation loan will take care of your loans, you can avoid getting harrassed from creditors or collection agencies

• Low interest rate: Most debt consolidation loans offer interst rates lower than the interest rate on your credit cards. Thus, the monthly repayments will be lower than most of your current bill payments

• Budgeting gets easier: Consolidation loans help you to replace several bills with one easy manageable monthly repayment, which will make your monthly budgeting a lot easier

• Credit rating improves: When you pay off your loans with a single debt consolidation loan, it will have a positive impact on your credit

How do you choose the right consolidation loan?

Below are 3 tips to help you choose the right debt consolidation loan:

• Shop around: Interest rates on the loans will vary from each mortgage lender, so shop around before choosing a debt consolidation loan. Alternatively, you can also speak to a mortgage broker to help research and find the best deal for you based on your needs and circumstances

• Be aware of the costs: Before you sign any document, make sure you are aware of the loan costs you'll have to pay. If possible, ask your mortgage lender to break down the costs of taking out a consolidation loan.

• Add up the interest and fees: Calculate the monthly payments, interest and charges on your existing bills and compare this with what you need to pay with a consolidation loan. Make sure your monthly payment on the consolidation loan is much less than your current bill payments

Are there any disadvantages of a consolidation loan?

Usually, an unsecured debt consolidation loan (low debt consolidation loans obtained without owning a home) involve a longer repayment term. Even if your monthly repayment is low, you actually end up paying much more in total interest throughout the longer term.

There's no doubt that debt consolidation loans help you to consolidate all your debts into a single manageable payment. On the one hand, it helps to bring your finances back on track, while on the other hand, it creates a positive impact on your credit. However, in case you don't qualify for a debt consolidation loan, you may consider a debt consolidation program as a way out of your debt problems. For more details on how the mortgage brokers can help you with a debt consolidation loan, call us on 1300 55 10 45 and we will be only too happy to answer any questions or concerns you may have.

Deciding between secured and unsecured loans

Finding the right mortgage loan for you and your financial needs is important - after all, you don't want to pay any more for your mortgage loan than you absolutely have to. When shopping around for a mortgage loan, you might find yourself facing a decision between applying for secured or a unsecured loan.

If you're not entirely sure what the difference is or which type of mortgage loan is right for you, then the information below should shed a little bit of light on these two different types of loans and when the best time is to use each.

Secured Loans

Secured loans use collateral (some item of value that can be sold to recover the money that has been borrowed if the borrower is unable to repay the loan) as security to guarantee the repayment of the loan.

As a result of the collateral that is used to secure the personal loan, mortgage lenders are usually more willing to grant lower interest rates for secured loans. The interest rate offered depends upon the credit rating of the person applying for the loan as well as the value and ease of finding a market for the item used as collateral.

Unsecured Loans

As the name might imply, unsecured loans are loans that do not use collateral as a guarantee that the loan will be repaid. Because of this, unsecured personal loans are much more likely to have a higher interest rate.

These personal loans are still advantageous, however, since there is no collateral that could be seized and sold by a mortgage lender. Unsecured loans are generally given to individuals with good credit, though depending upon the amount to be borrowed, there are some unsecured loans which are offered to individuals with less-than-perfect credit as well.

When to Use Secured Loans

Secured loans can be used in a variety of different circumstances, for example, if the individual who is applying for the loan doesn't have the best of credit. This doesn't mean that secured loans are used exclusively by individuals with bad credit - many people with good credit still choose to use secured loans for their needs because they can get a lower interest rate that way.

Additionally, some high-value items such as real estate and automobiles serve as the collateral for their own loan and therefore don't have much of an option aside from secured loans. The larger the amount to be borrowed is, the more likely you are to have to take out a secured loan to borrow it.

When to Use Unsecured Loans

Since they don't have the guarantee of collateral, mortgage lenders are generally much more careful when issuing unsecured loans. For lower-value loans, however, unsecured loans can be very helpful. Short-term mortgage loans that are unsecured can save on paperwork and remove the fear of losing your collateral, all the while not hurting you too much with a higher interest rate because of the shortened amount of time that it takes to repay the loan.

Though many mortgage lenders are hesitant to make unsecured loans to individuals with poor or bad credit, a thorough search can help you to find mortgage lenders willing to make unsecured loans to individuals regardless of their credit. This can be useful in catching up on some bills, consolidating them into the single unsecured loan payment.

If you are looking for a secured personal loan or an unsecured personal loan, speak to an Intellichoice mortgage broker on 1300 55 10 45 and we will help find the best mortgage loan for you based on your needs and circumstances.