A finance broker is a lending sector professional that provides a service to buyers to source the most affordable and suitable loans from their lender base. These services can be invaluable to many businesses, and individuals buying cars, boats, caravans, motorcycles and other goods.
While the lending market is constantly expanding with emerging new lenders, dealer finance and online application options, there can be downsides to the plethora of options. More options, more lenders can mean more confusion, more time and for some buyers, may mean a less-than-their-best-possible loan. Not all buyers have the financial knowledge and skill to discern between the varying features and rates of different loans or the time to spend navigating and research the market.
Without the time or knowledge buyers may just opt for any loan offered by a dealer. A loan which may not be at their best possible rate. They may ask friends for suggestions, apply to the bank they deal with, or use the lender that provided their current loan. Actions which may or may not result in the ideal loan being secured. Brokers like Jade Finance can be the answer. We explain how our services can help buyers to achieve their most suitable outcome while saving their time and providing confidence that an expert has sourced their loan.
How does a finance broker work?
Jade Finance is a finance brokerage providing services to individuals and business for a wide range of loans. We work directly with our customers, and you do not need to be referred by anyone to contact us. We are a Licensed Credit Provider under ASIC and have accreditation with the major banks, other banks and many non-bank lenders.
Our accreditations which are granted by the lenders, provide us with their approval to source loans for our customers from their credit product portfolio. Customers connect with us either online or phone and brief us on their financing requirements. We then cover off on our lender base to find them the most suitable loan and the best interest rate available from our lenders.
We do the work for you, but you make the decision whether to accept and progress the offer.
Why you need a finance broker? Lender rate variations!
Interest rates variations are one of the key reasons why using a finance broker can be a major benefit to your loan outcome. While the Reserve Bank sets the cash rate, lenders set their own lending rates.
Rates vary with lenders and with different types of loans and for individual loan applicants. Finding which is your best rate on the most suitable loan and from the most suitable lender can be a challenge, and time-consuming.
Dealers typically only have the rate offered by their one credit partner to offer. Banks and finance companies usually offer a rate based on their advertised rate and the applicant’s credit score and financials. Our brokers have access to multiple lenders and the ability to find the best market rates.
We have industry-level market intel, the right tech resources for the lending market and the right lender connections to find the best possible rate options from our market, quickly. Compare our current rates to see how competitive we are in the market.
Finance Broker Helps with Suitable Loan Products
Not all loans for cars, boats and business assets are the same from all lenders. Lenders include their own features and conditions and have their own criteria for approval. As such, not every credit product may be the most suitable option for every borrower. For example, our dedicated Secured Car Loans, Secured Boat Loans and our asset finance loans have fixed rates, fixed terms and fixed payments. These fixed elements provide certainty for borrowers that their loan will remain the same over the full term. Our brokers use our negotiating power to best achieve a term that will deliver our customer with their most suitable repayment schedule. The loan amount is not set by the credit product but by the borrowing limit for that individual or business as determined by the lender.
In comparison, some lenders may offer a more general personal loan which can be used for cars, boats, caravans and other types of goods and may have a variable or a fixed rate, a fixed borrowing amount, and other conditions such as a minimum or maximum repayment term.
Save Time, Be Confident - Use a Finance Broker
Some buyers may set aside a lot of time to make their purchase. Considering the makes and models, test driving, getting aboard at a boat show, or inspecting machinery at various dealerships or industry showcases.
Others need to act quickly. They may have unserviceable machines that are holding up production and require replacing. They may be buying second-hand and have found that dream boat. Stock on a popular model vehicle such as the top-selling Toyota RAV4 may be in short supply and buyers may need to be in a position to commit quickly.
Using our services may cut down the time it takes to secure affordable financing.
Worrying about money and finances is something many people experience. Using our expert services may assist in easing worries about selecting the right financing option. Knowing you have had a professional source your loan with your best interests their total focus.
To realise the benefits of using a finance broker to source your loans, connect with Jade Finance.
DISCLAIMER: NO LIABILITY IS ACCEPTED IF ERRORS OR MISREPRESENTATIONS ARE FOUND IN THIS ARTICLE. THE ARTICLE IS PREPARED AND PRESENTED FOR GENERAL INFORMATIVE PURPOSES AND IS NOT INTENDED TO BE THE SOLE SOURCE OF INFORMATION FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING GUIDANCE AND ADVICE SHOULD CONSULT A FINANCIAL ADVISOR.
