Beware the car yard car loan

When you're purchasing a new car, it's easy to arrange your finance in that same car yard, especially with the low interest rates advertised. However, it could be more cost effective to obtain your loan elsewhere. When considering your car finance, don't focus on the rate. Instead, ask for the monthly repayment figure. The rates quoted by the car yards do not include the commissions they make on your finance application. Many will take a 3-4% commission and that will be added to your monthly repayments. These commission rates can be more than double that charged by other car loan providers. So next time you require a car loan, it's worth obtaining a quote from your broker or bank before

How to save over $200 per month on your home loan

In the current home loan market, there is strong competition from the lenders to gain your owner occupied home loan business. So interest rates are now much lower than what you were offered when you took out your loan. Unfortunately most lenders will not match those rates that are offered to new customers, so it is worth your while to shop around for a better rate. The majority of households currently pay an interest rate around the 4.7% mark. That is nearly 1% higher than the current rates offered by some of the smaller lenders. If your current home loan balance is $450,000 and you are paying an interest rate of 4.7%, your monthly principle and interest repayments would be approximately $23

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