Car Loans Brisbane can arrange the loan that you need quickly and professionally. We have wholesale rates better than the banks starting at 5.60%*. Call 1300 633 334 to get a quote.
Car loans Brisbane – Credit cards and personal loans.
Credit cards are quick and easy to use but their popularity is waning. Personal loans are less flexible but often cheaper.
According to the Australian Prudential and Regulation Authority, as at December 2012, personal loan balances totalled $58 billion and credit card balances totalled $40 billion. Car Loans Brisbane can consolidate these to make life easier.
The type of purchase is often the key to whether a credit card or personal loan will work best.
The best choice depends on what you plan to spend the money on and your personal discipline when it comes to making repayments.
Credit cards are more of a line of credit-style account when you access money as you need it, while personal loans are often provided as one lump sum to pay for a particular purchase.
Both types of borrowing have a downside. These may include penalties and fees, and they need to be handled with caution
Credit cards are more convenient for retail purchases. A personal loan facility has to be set up in advance and is better for larger items like a car.
Maybe consider – Debt consolidation – which means rolling a group of debts together – such as store cards and credit cards that typically have a high interest rate – into one, easier-to-manage personal loan, another credit card or even your mortgage.
For example, the interest rate of 21 per cent on a $20,000 credit card debt will cost you $4,000 a year before you even put a dent in the outstanding loan. On a personal loan with a 12 per cent rate, that drops to $900 a year and for a mortgage rate at 6 per cent it’s just $600.
Car loans Brisbane – call 1300 633 334
* Comparison rate is 7.50% based on a $30000 loan over 7 years with 20% deposit and a brokerage fee of $770 and establishment fee of $400.
