What Should You Know Before Buying Extended Warranty for Your New Car

Are you buying a new car? Congratulations! It's a moment to celebrate. However, if you've shopped for cars many times, you must know that sales person will try their level best to make you buy extras, including a warranty for the particular car you are buying. Thus, before you make up your mind you must know few things before going for an extended warranty. 

• Have you ever shopped around first: This is the first rule if you are thinking to make a major purchase like a car. You can't just take a quick decision on the first deal, which is offered to you. Buying warranty is similar to buying anything. Get a professional quote for the extended warranty on the car you are planning to buy from different dealerships, insurance or finances and see where you can crack the best deal. If the price is out of your pocket, you can always purchase it later.

• What is your repair history like: You need to think about what your history with cars is like. Do they breakdown because of heavy use. If the usage of your car will be more than a vehicle that drives to the shop and back, then the warranty is certainly going to be of great value.

• What is covered by the warranty: Check about things that are covered under warranty before putting money into it? Many parts that are likely to break down are usually not covered under warranty. Moreover, different types of coverage tiers that makes the expense rise by adding things that are already covered. Is the price fully justified? Do you need it? Think and decide.

• Who is assisting you for your extended warranty: Make sure you check who is taking care of the warranty and are reputable enough to provide you with an appropriate warranty.

Before making a final decision, ask yourself few questions and then decide. In case if you are looking for car loans in Melbourne than Loans Direct is a worthy choice for you.

What Credit Score Is Needed To Buy A House?

For most of us, purchasing a house is a major financial situation that calls for borrowing money. For this, a loan is needed and as we know, all banks and lenders rely on credit score for approval of loans. Yes, those three tiny digits can mean the difference between the yes and no; in other words, can decide whether you are moving to your dream home or not.

Now there will be many questions striking your mind, such as:

• Do I have a good credit score?
• What is the credit score needed to buy a home?
• What is minimum credit score to buy a house?
• Is there any direct relation between credit score & interest rate?

If these and more such questions are coming in your mind then this blog will provide answer to all your queries.

The Basics of Credit Score

You credit card is not only needed for getting a mortgage rather it clearly states your financial picture. The credit number signifies the creditworthiness of a person, higher the score, higher is credit worthiness. Therefore, in simple words, a person with a higher score is almost guaranteed to pay his/her debts whereas a person with low score is more likely to miss payments.

Payment History, Amounts Owed, Length of credit history, New Credit, Types of credit used, all these factors play a major role in calculating the score of your credit card.

Now, the next important question is what credit score is needed to buy a house

There is no hard & fast rule for this. However, a credit score of 600 or above in Australia is considered good. So, if your credit score is 600 or above then there are positive chances of loan approval. If your credit score is lower than there are less chances of qualifying the loan but in this case lenders consider other criteria such as solid assets if any, source of income that makes up for the low credit score. So, before applying for your home loan get a credit check Australia for your score.

For anything you need pertaining to loans in Australia, the finance brokers at Loans Direct can assist you in finding the best option.

Myths Busted About Non-bank Lenders

There are various myths skimming around about running with a non-bank lender, however it's essential to know that large portion of them aren't valid. Non-banks lenders are putting forth borrowers a focused distinct option for the real banks, yet not everybody comprehends what a non-bank is or how they work.

What precisely is a non-bank and how would they contrast from the bigger lenders?
A few borrowers expect that a non-bank lender is meant for people who can't get a home loan with a bank. Non-bank lenders have a noteworthy spotlight on loaning and don't offer a full suite of deposit items to finance their home loans. Non-banks give rivalry to the banks and give borrowers more options in home loans to look over. They are required to maintain the same buyer credit standards and regulations as different lenders so you can be guaranteed that you have comparable rights and desires of administration as a bank lender.

Myth: Non-banks are not aggressive
Not at all like the bigger banks, non-banks are not weighed around the expense of having vast corporate structure and branch systems. This permits them to have the capacity to offer aggressive interest rates, adaptable loan choices and customized correspondence with their borrowers.

Myth: Non-bank home loans don't accompany every one of the elements I require
Non-banks regularly don't offer full banking exchange records and credit cards, as they are not authorized to offer deposit items but rather includes on their home loans can be like what you get with a bank.

Myth: Non-banks don't have the same assets accessible to borrowers
After some time, borrowers have turned out to be all around educated about needing to find out about home loans direct, before settling on a choice.

Myth: Non-banks don't have the same number of loan alternatives accessible
Numerous non-bank lenders can have the same number, if not more, home loan items accessible to borrowers than banks. Very aggressive variable and settled interest rate loans, interest only mortgage, credit extensions, loans with or without yearly charges, SMSF loans and loans for independently employed borrowers and those with terrible credit are only a couple of the diverse sorts of loans that numerous non-banks offer.

Concerning the bigger banks, there is frequently a 'one size fits all' methodology and on the off chance that you don't fit the criteria for a specific loan, you can't have any significant bearing. In any case, with regards to non-banks, numerous have a more customized and adaptable loaning process and in the event that you don't fit the criteria for one loan they might have different choices that will permit you to would what you like to do.

Looking into for a few individuals is about identifying with somebody so you can make inquiries as you go. Our Lending Specialists have broad loaning information and take the time you have to comprehend your alternatives. Best of all they utilize dialect that you can comprehend and give you their contact subtle elements so you can address the same individual at whatever point you require help. Applying for a home loan is a tremendous money related responsibility and we are focused on giving the right data to help you settle on an educated choice.