3 Witty Ways to Capitalise on Low Interest Rates

 It is analysed that over the next year, there hardly will be any change in the cash rate. Reportedly, it is kept at 2 percent for another consecutive month and as far as the CommSec's analysis is concerned, the cash rate is not likely to move from its current state any time soon.

Do you know what does it exactly mean? This simply means that the interest rate you might be enjoying for your home will be stable for a while, and now you will be able to capitalise on it. Make sure you make the most of the record of this low interest.

Here you go -

Save Yourself a Wiggle Room-

You can save yourself a wiggle room in case you just fix your rate. This way you get a nice holdfast in your savings. Moreover, you can possibly split your home loan too. Keep one part of it on a fixed rate and the other one on variable. You never know what the future has to bring to you. Supposedly, any future rate movements, if beneficial, will be applied to the portion left with variable rate.

Insulate Yourself from Future Rate Rises-

The low interest rate will always mean savings. However, it is not all. The thing that should concern you is the way you will insulate yourself from the future rate rises. Splitting up your home loan in two portions is one option. On the other hand, you can also pretend that you are still repaying the loan at a rate of 2 per cent higher. Just use the money saved to take more off your payments of mortgage. It's all about bumping your repayments and insulating yourself from the future rate rises.

If there is a Redraw Facility, Increase the Frequency of the Repayments-

Another way you can save the most of the current cash rate is to increase the frequency of the repayments. This means you're not bumping up the amount. This will be useful to you only once you're assured that there is a redraw facility attached to the mortgage repayments you are going to make. The benefit this facility provides you with is that you can redraw your money out of the repayments you've already made if you need it at the time of emergency.

It's high time you use the stability of the cash rate currently available. Capitalise the most of it!

Do you have any Idea How Bad Credit Car Loan Interest Rates Work?

Well, it’s not just you, there are many who might have encountered number of problems due to compromised credit ratings in the past, but still want to get the same kind of deal on car loans that saves them some money. However, the key is to understand that your car loan approval will be provided after the sole decision of lender and the interest rates will be based on the risk assessed as well as your credit history.

Car loan lenders in Australia generally rely on the statistics given on your credit report, which eventually helps them to consider your application as well as if you are going to pay for the loan without any hitch. Your application, approval of a loan and the interest rates are highly influenced by your credit history. Other factors, which ought to be taken into consideration while fixing the interest rate are net asset position, surplus of income after all the expenses have been made, as well as employment and residence stability.

On the other hand, if your credit history is all clear without any past issues, you can expect paying an interest rate same as in a normal car loan. However, if your credit history has some serious marks on a negative note, the rate might go up exceedingly. Thus, to be on a safer side, always try to keep your credit ratings as healthy as possible.

At times, the interest rates might look high, but everything is decided after the analysis has been done by the lender. Consequently, those who have directed their finances poorly even when they got a second chance have automatically given the lenders the chance to raise the rates.

Offering similar rate loans for each car buyer is quite unprofitable for the lender. Therefore, only individuals whose credit record shows reliability and assurance are considered for low rate car loans. On the off chance, if you are seeking a bad credit car loan, it is wise to consider purchasing a more affordable vehicle.

Finding a bad credit car loan in affordable rates in not so difficult. However, selecting the right one is the key. To hit the bull’s eye, always go with the experts. You can talk to one at Loans Direct by Requesting a No Obligation Free Consultation.