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?

Commercial Investment Finance

Buying a commercial property is a great way to increase your wealth and now is the best time to look at commercial properties while the interest rates are at an all time low. Commercial finance is quite easy to get approved for however you will need some cash to pay for value fees and we are not talking a few hundred bucks here like you would need for a house the bank will charge anywhere from $5000-$10,000

To have your commercial property valued and in most cases this is needed upfront some ways around this are to get an investor to lend you the money for a part share in the commercial property and sometimes a commercial lender may incorporate the cost of the valuer into the loan but this rarely happens with commercial finance the most common way to pay this fee is buy using equity in your own home to secure the value of the building and it is highly recommended that you get your own independent valuation as banks are very conservative especially in the global financial down turn we are currently in.
Use interest only finance, you should always use interest only finance whether investing in a commercial property or a residential property.
Using interest only finance simply means you have more serviceability and can most likely buy a bigger commercial property then using principle and interest finance or more then one small commercial property to spread your risks across several sectors.