When you want to buy something and you don’t have money, you need finance.
Do you care where the money comes from? Do you get financial advice, or do you just get the money?
Most of us just get the “easy” money and don’t understand the costs involved.
For example, you need to a car so you go to a few car dealers you find the one that you want to buy. The car dealer offers finance, so you figure that you’ll just go with that. It’s easy, you can do it there and then. You want that car and you don’t want anyone else to jump in and buy it while you take the time to go and get finance from somewhere else.
If you had sought financial advice before going shopping, you may have avoided fees and paying a higher interest rate. There are other options for financing a new car, such as getting a loan through a bank or using home equity if available. Also having a clear idea of how much you are able to spend before you start your search will save time and angst!
The same goes for buying house – getting a mortgage with your usual bank is not always your best option. Yes, it may seem like the easy option as you already have a relationship with that lender.
That bank may give you money but it doesn’t mean that they will give you the best advice or the best deal though. So, is that lender right for you? How can you get a better deal?
When you work with a Financial Adviser you get access to many different lenders, not just the bank you decided to go directly to. Our ongoing relationships with lenders mean that we can often get you a better deal than what you would get if you went to that same bank yourself. It is about more than the interest rate. The frequency of payments can save you money. Can you do weekly payments rather than fortnightly payments? Can you make lump sum payments? Is there a flexi facility which allows you to redraw funds as you need, using your savings to save interest in the meantime? Is the lending for investment? Is your investment lending interest only? These are the questions we will be asking the lenders.
What we do is more than just getting quick money for you. We look at the bigger picture and work with you to build your financial future. Maybe you’re wanting to buy a car this week, but are you thinking about buying a house next year, and maybe figuring out how to fund a holiday too? Yup, it’s all stuff that we can help you with.
We assess your needs, identify costs, provide opportunities – getting the finance is the smallest part of what we do!