What are Personal loans used for?
Whether you want to renovate your kitchen, take care of some nasty roof leaks or need a little help financing your dream wedding, a low-interest personal loan is one of your best credit options.
How much can I borrow Personal loan?
Personal loans offer between $1,000 and $50,000 with loan terms from 12 months to 5 years. They’re offered by all mainstream banks, a handful of peer-to-peer lenders and a host of alternative or specialist credit providers.
Extra features to consider
In addition to searching for the lowest rates you should look for bonus features such as loans that allow you to repay early without penalty and redraw facilities. You should also take into account the comparison rate of a product rather that the interest rate alone.
The comparison rate will include additional costs and fees and give you a clearer picture on what a loan will actually cost you. Additionally if you don’t have great credit, make sure you compare offers using a comparison site to ensure you meet the lenders eligibility requirements.
Compare Personal loans
Comparing lenders and loans will help you find the lowest interest rates, loan fees and the best loan features that actually meet your needs. This means that you can find the loan that you’re looking for, and speed up the application and approval process.
LoanXP aims to help you access lenders that provide affordable rates, easy loan approval, and the quickest turnaround time.
Australia’s most reputable personal loan providers
Find the most reputable lenders in Australia, and gain direct access to the loan that you need to finance anything from home improvements to a vehicle. Our collection of trusted lenders offer the most affordable loans in Australia.
With an easy online application, you can have the cash you need in no time!
Direct lenders offering low-interest rate Personal loans
Car Finance: How to finance a car?
Car loans are designed to help you purchase a new or used vehicle. Once you’ve bought the vehicle you’ll need to repay your loan (plus interest) for an agreed period of time. This is usually between 2 and 5 years and will depend on affordability as well as the loan term you select.
Doing your research before taking the plunge
Buying a car is certainly a big. You should always do your research carefully and make sure you know everything there’s to know about your chosen car and the finance that goes along with it. Compare interest rates, offers, terms, features as well as repayment flexibility and check on the reliability of your provider.
Types of Car loans in Australia
There are three main types of car finance packages available to you. This includes a standard loan, a finance lease, and a hire purchase. One of the most common is the standard loan which allows you to buy a car (which is used to secure the loan) and you have to repay this loan in instalments over a set period of time. You can opt for a fixed or variable interest rate and choose a repayment schedule that suits you.
Compare lenders & loans in Australia
There are many factors to consider when you apply for a car loan. Interest rates, balloon payments, fees, loan turnaround times, and loan features are only some of the aspects that need to influence your decision.
This might be a lengthy process if you were to attempt to collect, and compare all the relevant information from the hundreds of lenders available. LoanXP aims to simplify the process, and make your loan application process simple, convenient, and effective.
Find your ideal car loan with us
LoansXP will assist you to find the most suitable car loan by providing comprehensive information on Australia’s preferred lenders. These lenders range from large banks to smaller dealerships but are all reliable providers that you can trust.
List of direct lenders offering Car loans
Quick Loans: Instantly resolve your cash emergency
Also known as short-term loans or payday loans, these nifty little financial tools allow you to cover any financial emergency with simplicity, ease, and of course, speed. If you need cash right away and don’t need a large amount, quick loans is certainly a good option.
What is a Quick loan?
You can borrow anything from $50 to $2,000 and do not have to provide any security. You can make your application entirely online and will typically receive the loan within minutes of approval. These loans can be expensive but are ideal for occasional emergencies and financial boosts.
Cost caps you need to be aware of
Any lender offering a small, unsecured, cash loan will have to adhere to the caps imposed by the SACC which include a maximum of 20% of your loan amount as an establishment fee and an ongoing 4% monthly fee. For loans of between $20,001 and $5,000 there is a 48% p.a. interest rate cap and a maximum establishment fee of $400.
How do I apply for a Quick loan?
To get a quick loan online you’ll need to be 18 years or older, be an Australian citizen or permanent resident, and be employed and earning a stable income. You will also have to provide your lender with supporting documents which will include your ID, proof of address, you bank statements for the last 3 months, your recent payslips and a list of your income and expenses.
How long does the loan approval take?
Depending on the loan lender’s processes, you could have the cash in your account in as little as a few hours. Some quick loan types, such as payday loans are often deposited within minutes after loan approval.
Choosing the right lender
Choosing the right lender might not always be easy considering the large number of lenders on the market. Being able to compare all the information from a central platform makes comparing and applying for loan quick and simple – and this is exactly what LoanXP aims to do for you!
List of direct lenders offering Quick cash loans
I have bad credit, now what?
If you have a bad credit rating or have been declined for a loan with a mainstream lender, you’re probably going to have to consider alternative options such as a bad credit loan.
What are bad credit loans?
These are loans offered to people that have a poor credit history or lack a credit history altogether. They’re offered by a selection of specialist lenders and generally carry higher interest rates that regular personal loans.
How much can you get with bad credit?
You may be able to get between $2,000 and $50,000 but will most likely have to provide some form of security to ensure approval. You’ll also have to go through a credit check and have your finances reviewed to ensure that you can afford the installments you’ll be required to make.
Before taking out a loan…
Compare all offers carefully to ensure that you’re getting what you expect and need. Make sure to check the loan agreement carefully and ask questions if there’s anything you’re unsure about.
Supporting documents to keep on hand
When applying for a loan you’ll need to provide a copy of your ID, proof of address, 3 months bank statements (or longer), recent payslips as well as documents relating to the security you intend to provide (such as a title deed and property valuation).
Compare a range of Bad credit loans
LoanXP covers a range of Australian lenders that offer personal loans for bad credit. Whether you need a quick loan to cover expenses or want to buy a car, we can offer you access to the most suitable lenders.
Financing should be easily available to consumers in Australia who are able to afford the loan repayments. As a result, we assist people with bad credit to find suitable loans, and get the cash they need.
Direct lenders offering Personal Loans for Bad Credit Online
Are you struggling with too much or too many debts?
Do you feel like you could lose control at any point? If so, you may benefit from the simplification and improved affordability that a debt consolidation loan will bring.
What is debt consolidation?
Debt consolidation refers to the act of repaying multiple smaller debts with one larger loan. Instead of making multiple repayments at different rates and with different payment cycles, you will be left with one much simpler and easier–to–manage personal loan.
That said, debt consolidation is not always going to save you money. In fact, by taking out a larger loan and repaying it over a longer period of time, you’re debts are likely to cost you more in the long run.
Alternatives to debt consolidation
- Make a personal debt repayment plan and revise your budget
- Contact your lenders and request more affordable repayment terms
- Work with a financial planner or seek help from a professional
- Refinance your home or switch loans
- Use a balance transfer credit card
- Consider debt counselling
What debts can be consolidated?
Any unsecured debts, such as credit card balances, personal loans and store accounts can be consolidated. Some people may also be able to throw their car loan in as well depending on your outstanding balance as well as your lender’s policies.
Do you qualify for consolidation?
To qualify for debt consolidation you will have to have fairly good credit, be earning a stable income, have some form of security to offer up and be able to show the lender that you can afford the repayments (for large loans).
Find & compare loans from the most reputable lenders in Australia
LoanXP can help you find the most appropriate lender for you specific debt consolidation needs. Our comprehensive list of providers will narrow down your search and make it easier for you to compare options.