Tag: Loan repayment
-
What is a redraw facility on a car loan and how does it work in Australia?
If you are looking to purchase a car in Australia, a car loan is a popular financing option. A redraw facility is a feature that some car loan providers offer to allow borrowers to access additional funds that have been paid towards the loan. Essentially, a redraw facility works by allowing you to withdraw any…
-
What is a balloon payment on a car loan and how does it work in Australia?
A balloon payment is a lump sum payment made at the end of a car loan term that is larger than the regular loan repayment amount. In Australia, balloon payments are a popular option for car buyers who want to lower their regular repayments and have flexibility at the end of their loan term.…
-
How to calculate your car loan repayments in Australia?
When purchasing a car in Australia, many people opt for a car loan to finance the purchase. A car loan allows you to make the purchase without having to pay for the entire cost upfront. However, it’s important to understand how to calculate your car loan repayments in Australia to ensure you can afford the…