:: Newsletter Article
Finance Shopping - Why is it different to buying a car?
| I suspect most people have enough nous to walk into a car yard and haggle a pretty good deal for themselves. Why! Because like most shopping it's something we have all done before and a few mistakes won't cost all that much anyway. Most lenders would have you believe you don't need to shop for finance, simply come into the branch and we will get you sorted. A bit like buying your car at the first showroom you walk into. In fact shopping for finance is the total opposite to nearly all types of consumer shopping, but it is still shopping. In fact shopping for finance is the total opposite to nearly all types of consumer shopping, but it's still shopping. A few helpful tips on how to shop for your finance. Credit Reporting. Did you know that everytime you ask a lender to check to see if you qualify for one of their loans, an enquiry is made on your credit history report. Mortgage providers in particular will see large credit enquires as an opportunity to refuse your application alone. The Tip - Use a Mortgage Broker that will make the enquires without submitting your personal details to lenders. Check you credit report at least yearly for FREE. Go to www.mycreditfile.com.au Internet Shopping. The internet has been a great revolution for the savy shopper with bargains at every mouse click. Unfortunately most finance research sites are nothing more than lead generation tools for large market lead providers. After answering 20 questions they will tell you 'Congratulations you qualify with 20 lenders, one of our staff will contact you shortly'. The reality is your details are then promptly sold to the highest bidder. Did you actually qualify? Most likely not, these websites do not operate the databases required to do the research. The Tip - Contact your broker and discuss your financial requirements one-on-one over the phone or better still have us arrange a visit to you for a real conversation. The options provided are always qualified against real lenders and credit policy. That's it for this month, I hope you have enjoyed the read, if you would like to know more or have a question you would like answered, click to the feedback form or give me a call me on 1300 854 335. ^^^^^^^^^^^^^^
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