Personal Loans Made Fast And Simple

Personal financing for individuals refers to obtaining funds for a particular purchase without requiring an initial payment. The borrowed amount, plus accrued interest, is repaid through gradual instalments. Details such as interest rates are determined by your unique financial circumstances.

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You can use personal finance loans for different situations in life. Whether you want to travel, upgrade your car, buy new furniture, etc. these loans provide the money you need. They let you achieve your goals without needing to pay everything upfront. You can repay the loan in manageable instalments while enjoying the things you've bought.

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Certainly, you can get personal financing even with a less-than-perfect credit score. Motor Money collaborates with different lenders, some of whom focus on helping people with less favourable credit records. However, you might face higher interest rates and stricter terms compared to those with better credit. Be assured, we strive to secure the best possible loan terms for your circumstances.

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A secured loan is tied to an asset, such as a car, which acts as collateral for the amount you borrow. This means the lender has the right to repossess the asset if you’re unable to keep up with repayments, using its sale to cover the outstanding loan balance.

Secured loans often come with lower interest rates compared to unsecured loans. They may also allow you to borrow a higher amount or extend the repayment term, giving you more flexibility.

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An unsecured loan doesn’t require any collateral, meaning there’s no asset for the lender to claim if you fail to make repayments. The main benefit of an unsecured loan is that you don’t need to put anything up as security—so as long as you stay on top of your repayments, there’s no risk to your assets. However, unsecured loans typically come with higher interest rates, lower borrowing limits, and shorter repayment terms compared to secured loans.

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Having a good credit score can make a big difference when applying for loans, as a lower score might mean higher interest rates. The good news is that you can take steps to improve it! Here are some tips:

• Pay your rent, mortgage, and utility bills on time.
• Stay on top of credit card payments, aim to pay more than the minimum, and consider reducing your credit limit.
• Avoid submitting too many credit applications.

These small changes can go a long way toward boosting your score and helping you secure better loan terms.

Anywhere between 1 and 7 years, based on your needs.

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Absolutely! If you're self-employed, you can still apply for a personal car loan. Generally, you'll need to provide your ATO-issued Individual Notice of Assessment for the current or previous financial year. Reach out to the team at Motor Money to discuss your unique circumstances, and we’ll help you find the best option tailored to your needs.

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Several factors influence your borrowing capacity, as well as the terms, interest rates, and duration of a car loan. Because of this, it’s difficult to pinpoint exactly how much you can borrow for a car loan. To learn more, get in touch with the Motor Money team today!

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