Loan of the month – April 2024

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Case study #1: Shaun

The need

Shaun was struggling with debt payments that were too high, so he needed to free up some of his disposable income.

The challenge

Shaun had recently sold his business and paid off most of his debts with the proceeds of the sale.

However, he still had a large $33,000 loan on a very high-interest rate.

Despite working full time with a good income, his loan payments of $1100 per week were making it difficult for him to live.

The solution

Shaun’s situation was no problem for our expert loan advisors, who specialise in finding smart solutions to financial problems.

We consolidated his existing debt into a new low-cost loan, plus added some cash on top so he could tidy up some loose ends.

His new $43,000 loan had an interest rate of 18.45%, a lot less than he was paying previously.

This reduced his weekly loan payments to just $260 per week, a saving of $840 per week!

Shaun can now move on and enjoy having a far more manageable loan payment, which allows him to do more of what he wants to do.

Case study #2: Nadine

The need

Nadine’s car had recently broken down and she desperately needed one to get to work and do the school run.

The challenge

Nadine applied for a car loan with several lenders but she wasn’t happy with the loan terms, such as needing to secure the car against the loan and pay the seller directly.

The lenders also attached several conditions to the loan, like needing to have full insurance, and the car needing to be of a certain age.

Nadine just wanted a good used car, and didn’t want to pay for things she didn’t need.

She also wanted a bit of extra cash so she could fix up her existing car and sell it.

The solution

Loansmart is a loan broker, which means we work with multiple lenders to get our customers the best deal.

We have lenders who can be flexible with their loan conditions, enabling us to get our customers what they need more easily.

We were able to arrange a loan direct to Nadine, which meant she could go out and buy the car she wanted with cash.

She also got the extra cash she needed to fix up her old car so she could sell it.

Nadine’s loan was unsecured, meaning there was no security needed. Most of the lending Loansmart arranges is unsecured.

The benefit of an unsecured loan is there are far less hoops for our customers to jump through, making it an extremely easy process.

That’s what Loansmart does best: we do all the jumping through hoops so our customers can just sit back and wait for their loan to be approved.

Our entire process is online, so there’s no pesky forms to fill out or appointments to attend. We make it very quick and easy, and most of our loans are approved within 1-2 hours!*

Get in touch with our friendly team today to find out how we can help you achieve your financial goals.

*Subject to responsible lending criteria.