As mentioned, refinancing can also have some drawbacks. For example, you will probably face entry and exit fees and pay more interest in the long run.
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REFINANCING YOUR LOAN
Do you have an existing personal or car loan? When it is time to pay the current loan, you may require extra help. That’s where refinancing your loan may be useful for you.
We can assist you with your refinancing needs – whether you have a loan with another lender or us.
But before you decide to refinance your loan, we encourage you to take time to research and understand what refinancing is about. It has several benefits, but only if you know how to use it as a tool to achieve your financial goals.
when do you need Refinancing
If you are stuck with a high-interest loan, it’s not true that there is no way out. A little bit of guidance and perseverance can help you surpass the hurdle. With the right refinancing offer, you can get a new loan with a lower rate to pay off the first loan. In doing so, you can reduce and complete the monthly repayments and then focus on repaying the second loan.
should you refinance
You have probably heard about the horror tales about refinancing. But there are also many others with lots of success stories. It’s easy to get confused and be hesitant. As a trusted company in the finance industry, AZ Finance can tell you there is always a risk involved, whether you’re a borrower or a lender. However, the key is to make the loan work for you by becoming wise financially as you possibly can. If you can save one or two per cent in interest rates, refinancing certainly makes sense.
A Lower Interest Rate
Yes! Believe it or not, refinancing can help reduce your interest payments. It’s actually the biggest reason why Australians refinance their loan. Lower interest means reduced monthly payments, allowing you to save some cash, especially for rainy days.
HOW CAN WE HELP
Do you have a personal loan whose repayment you cannot keep up with? Contact AZ Finance and refinance your loan with us. We also accept refinancing for other types of loans, such as:
- Commercial
- Car
- Motorcycle
- Boat or jet ski
- Caravan
Don’t wait too long to get the most out of refinancing. Time is of the essence! Your interest savings can easily exceed the refinancing costs if you act now. Contact AZ Finance and see how we can help.