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Personal & Car Finance

Latest Questions

Jarrod P.
Jarrod P.
Tolland, NSW
1 Likes
0 Followers
Q:

When I turned 18 I was ignorant and went and got a credit card straight away. I neglected to make any repayments and as such have a poor credit rating now. 5 years later and I just recently bought a new car and the finance is 19% p.a.

The cars market value is about $20,000 but the loan is $29,000 roughly. I can get a novated lease to the market value of the car but need to get rid of the gap. Is there any way to do this? Haven't missed any payments on my finance for the past 2 years.

5 days ago
Kate C.
Kate C.
Northcote, VIC
1 Likes
0 Followers
Q:

I have a fairly new car that I purchased 18 months ago and currently have a payout figure on my secured personal loan of $27k.
This is about $10 500 more than the car is currently worth if I sell it privately.

I would like to buy a cheaper car (around $10-12k) and sell my car. This means that I'll need a loan of roughly $22 000.

Should I apply for another person loan to cover this and sell my car? Any advice appreciated.
Kate

4 months ago
Trevor A.
Trevor A.
Nailsworth, SA
2 Likes
0 Followers
Q:

My wife and I currently have 3 unsecured debts between 2 credit cards and a personal loan.
We are working hard to pay them off as soon as possible so we can have some financial freedom, start building some assets and get on with our lives with a house etc down the track.

Is it best to try to consolidate the 3 debts into one so there is one account fee, one interest payment and one monthly payment, or is it better to keep them separate?

4 months ago
rohan r.
rohan r.
Balwyn, VIC
3 Likes
0 Followers
Q:

I have two children about to start Private secondary school. We have been putting away money since they were born into a separate bank account and have around $80k. is there a better way that we can use this money - I have heard of education funds, but we have not explored. one idea was to buy an investment property with this money (and some top up) and effectively use some of the rental money to pay their school fees and then incur a debt for the fees against the growth in the property?

8 months ago
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