Case Study #1: Kira
The need
Kira needed to buy a new car and decided a budget of $20,000 would be ideal.
Unfortunately, she didn’t have enough in her savings account to cover it, so she came to Loansmart to see if we could help.
The challenge
Kira wanted the cash paid directly to her, rather than to the seller. This was because the car she was interested in was in another city, and she wasn’t 100% sure if she would buy it before viewing it.
But if she loved the car and it checked out, she wanted to be able to buy it on the spot.
She also wanted the freedom to arrange her own car insurance if she decided to go ahead with the purchase.
Luckily for Kira, Loansmart specialises in making lending super easy.
The challenge
Kira wanted the cash paid directly to her, rather than to the seller. This was because the car she was interested in was in another city, and she wasn’t 100% sure if she would buy it before viewing it.
But if she loved the car and it checked out, she wanted to be able to buy it on the spot.
She also wanted the freedom to arrange her own car insurance if she decided to go ahead with the purchase.
Luckily for Kira, Loansmart specialises in making lending super easy.
The solution
Loansmart was able to get Kira an unsecured loan to buy her car.
An unsecured loan is usually the best way to buy a car because you simply get the cash deposited into your bank account to spend as you please.
Some lenders impose all sorts of conditions on their car loans, such as the vehicle needing to be a certain age, or requiring a particular type of insurance.
This is common with secured car loans, where the vehicle itself is used as security against the loan.
With an unsecured loan, you can go car shopping with the freedom of cash. This is ideal because you can then buy whatever car you want, from wherever you want.
Kira was delighted that Loansmart could get her the money she needed so easily. She loved how quick and easy it was, and she’s now enjoying driving around the city in her beautiful new car.
With Loansmart’s unsecured car loans, you can borrow up to $75,000 from just 11.95%!
Case Study #2: April
The need
April desperately needed to reduce her debt. She owed about $35,000 on several credit cards and was struggling to meet her repayments.
Having initially taken out the credit cards thinking it was an easy way to pay for things, she found the interest rates of nearly 30% were very high, making it impossible for her to pay them off.
She came to Loansmart looking for a debt consolidation loan at a lower interest rate to help her reduce her overall debt.
The challenge
April had already applied for a loan from several loan providers, including her bank, but had been declined everywhere.
She told us we were her last resort.
For the Loansmart team, this is where they excel. Every day they help people who may have less-than-great credit scores by arranging fair, affordable loans that help them get back on track.
The solution
April’s loan advisor had a look at her financial situation and got her approved for a $75,000 loan, plus combining all her existing debts into one manageable loan payment.
Loansmart’s debt consolidation loans are the ideal solution for people like April because our interest rates are often considerably lower than those on their existing debts.
Her new loan had an interest rate of 17.95%, about 10% less than she was paying before.
We structured the loan over a 7-year term to improve the affordability, reducing April’s weekly repayments from $700 to just $350!
She was overjoyed at this massive improvement in her financial situation.
To find out how Loansmart can help you improve your financial circumstances, get in touch with our friendly loan advisors today.
