Want to know our refinancing tips in 2018? Whilst you are tax planning for the end of financial year 2018, it may be a good opportunity to evaluate any current business or personal loans you may have. If done correctly, refinancing your loans can potentially save you hundreds if not thousands of dollars in the new financial year.
Why should you consider refinancing your loans in 2018?
- Quite simply there may be a better deal out there that will save you money. Better rates and fees from other lenders may mean you can score a little extra cash in your pocket.
- You may be able to sign up with a better lender. If you have been unhappy with your current lender’s customer service or product offering it might be time to start shopping around. There is so much competition out there, as well as a better interest rate you may find you have the opportunity for a better account manager.
Points to consider when shopping around:
- Does your current lender have any exit fees?
- Does your potentially new lender have set up costs, and will they cover your exit fees if changing lender?
- Compare interest rates as this is your highest cost
- Compare the interest rate with the loan term – you don’t want to end up paying more with a lower interest rate but longer loan term
What is the best way to go about refinancing your loans?
With so many refinancing options and lenders out there is can be hard to know who to trust with your finances. How do you know you are getting the best deal? At Aspect Accountants and Advisors we partner with some great lenders and associates in banking.
Book a meeting with Aspect Accountants and Advisors or ask us about our trusted finance lenders to make your refinancing decision easier.
Aspect Accountants and Advisors are based in West Perth. Give us a call on 9227 9400.