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Re-finance So, you’ve been ripped off elsewhere? You’re currently on a really high interest rate at the bank? The car yard organised some dodgy finance? No worries. Finance Smart can payout your existing loan with your current bank or finance company and we’ll arrange a package to suit your budget.
You can further reduce your repayments by increasing the term, allowing you to minimise your scheduled minimum commitment. You could also choose a balloon payment or residual option. This variation is slowly growing in popularity. By setting a larger balloon payment for the end of the term, which can vary according to circumstances, you can reduce your monthly payments to better balance your budget. At the end of the term, you can either pay out the full amount in one hit or re-finance the balloon amount and continue paying off the car over a new loan period. Finally, you may just be switching from a business type loan to a personal loan to avoid paying unnecessary stamp duties & GST, or vice versa ie switching from a personal loan to business finance to take advantage of possible tax benefits. Whatever the reason, Finance Smart is confident that we can arrange a better deal.
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Why re-finance?