Personal finance Guide and Tips

Personal finance can be a great way to buy things you want now and only pay in small weekly or monthly instalments. One of the most widely used personal finance is finance to buy a car or motorbike, as we need to upgrade our transport every couple of years. However be careful of spruikers at car yards offering in house finance, as these are often above the normal interest rate that you can most likely get at your bank or elsewhere. Just because they say they will give you easy finance doesn’t mean you should take it. remember to research all of your options and if there interest rate and establishment fees stack up against the majority of other sources then use this finance option.

When choosing your personal finance lender make sure to read the fine print there are plenty of tricks for example there is a car yard that advertises no interest finance, however the cars are over priced it will say something like no interest finance buy this car for x amount a week usually around $100 over 4yrs this means for that car worth around $2000 you would of paid $20800 sure no interest why would there be when your giving them more money legally then any bank or general lender would make off the deal? For instance if you went and bought the same car for $2000 but used bank finance currently around 10% at $2000 you would only pay $10 a year in interest as opposed to $5200 see the difference?
Personal finance can be a great way to buy things you want now and only pay in small weekly or monthly instalments. One of the most widely used personal finance is finance to buy a car or motorbike, as we need to upgrade our transport every couple of years. However be careful of spruikers at car yards offering in house finance, as these are often above the normal interest rate that you can most likely get at your bank or elsewhere. Just because they say they will give you easy finance doesn’t mean you should take it. remember to research all of your options and if there interest rate and establishment fees stack up against the majority of other sources then use this finance option.

When choosing your personal finance lender make sure to read the fine print there are plenty of tricks for example there is a car yard that advertises no interest finance, however the cars are over priced it will say something like no interest finance buy this car for x amount a week usually around $100 over 4yrs this means for that car worth around $2000 you would of paid $20800 sure no interest why would there be when your giving them more money legally then any bank or general lender would make off the deal? For instance if you went and bought the same car for $2000 but used bank finance currently around 10% at $2000 you would only pay $10 a year in interest as opposed to $5200 see the difference?