Frequently asked questions & answers
Also known as a reverse mortgage, a home loan equity release is a financial product that allows homeowners to access the equity built up in their property. It provides a way to convert a portion of the home’s value into cash or regular payments while retaining ownership and the right to reside in the property.
A leisure loan is a collective term for several types of recreational asset finance. The most popular leisure assets in Australia are caravans, camper trailers, boats, motorcycles, and jet skis. Fox Finance Group has been helping Aussies finance their outdoor adventures for over 16 years, our Leisure Loan Specialists have the experience and know-how to find you the best finance option for any type of leisure finance.
A low doc car loan is a type of vehicle financing designed for individuals or business owners who may have difficulty providing traditional income documentation, like bank statements or company financials. This makes it easier and faster to secure financing for business vehicles without extensive documentation.
Getting pre-approved for a motorcycle loan means that, once a lender has assessed your credit, you will know the how much you can borrow, how much interest you’ll pay, as well as the loan terms that you qualify for. Once you have your pre-approval in place, you’re in an awesome position to negotiate with motorcycle dealerships, or with private sellers, to lock in the best deal for yourself. Let our Motorcycle Lending Specialists guide you through the preapproval process, call us now or apply now to fast track your bike loan preapproval application.
A comparison rate is an annual interest rate that includes all Fees & Charges associated with your motorcycle finance. This rate excludes transactional fees associated with a loan – such as early payment fees (if applicable), late payment fees (if applicable), or statement request fees.
A private sale car loan is when a vehicle finance company lends you the money to buy a vehicle from a private seller (not a dealership). The lender will hold security over the privately purchased vehicle for the duration of the loan. Private Sale Car Loans can be used for personal use (a consumer car loan) or commercial use (business vehicle loan). Speak with one of Lending Specialists about how we can best structure your loan to suit you and the repayment that you are trying to achieve.
Private sales can relate to cars, bikes, boats caravans, camper trailers and much more. Buying privately can often be a much easier for buyers than trying to negotiate a purchase price with a dealer. Private sellers are less experienced salespeople, and they aren’t carrying overheads like rent, wages and franchise fees – so there’s no loading costs attached. Private sellers are often motivated to sell quickly, as they typically want to finance their next vehicle too. However, there are several things to consider, like getting a full inspection done before buying. Speak to the team at Fox Finance Group so we can share our advice and experience with you, while we help you finance your next private sale vehicle. Reach out to us or apply now – its obligation free.
Property investment loans work somewhat differently to a traditional home loan a client intends to occupy. Investment properties can generate income for the investor, meaning the investment income is usually factored in the pre-approval assessment process. Investing in a property as opposed to making an owner-occupied purchase are higher risk transactions, meaning the interest rate can differ slightly to a traditional home loan. Speaking to a lending specialist about your next property investment loan is the best move forward to ensure the product suits your needs best. You can speak to a lending specialist on 1300 665 906, or enquire here.
A secured debt consolidation loan is a loan for which you offer the lender some sort of security, which is usually a vehicle.
The alternative to a secured debt consolidation loan is an unsecured debt consolidation loan or debt consolidation loan where no security is required. Because this is more risky for the lender, unsecured loans can come with a higher interest rate over secured loans. Sometimes this can be balanced with the flexibility to payout your unsecured loan early without any early payout fees.
A secured jet ski loan is a loan for which you offer the lender some sort of security, which is usually the jet ski itself.
The alternative to a secured jet ski loan is an unsecured jet ski loan or personal loan where no security is required. Because this is more risky for the lender, unsecured loans can come with a higher interest rate over secured loans. Sometimes this can be balanced with the flexibility to payout your unsecured loan early without any early payout fees. Speak with your Fox Finance Group Lending Specialist about this for more information on how we can structure this for you.
