Three Tips For Finding Your Perfect Loan

November 3, 2019

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If you’re applying for a loan in New Zealand, it might feel easy to get overwhelmed. 

There are a lot of options to consider and different numbers you need to understand. 

But rather than just going for the first loan you come across, we encourage you to do a little research before you settle on the loan that’s best for you. 

Here’s a quick three-point checklist to refer to when you’re looking for your next loan. 

From Bank To ‘Pay Day’ Loans: Understand The Range Of Options

The first thing you’ll learn when you start searching for a loan, is there’s a wide variety of options out there. 

Don’t let this overwhelm you — it’s a good thing to have a lot of options. 

Many people go to their bank first. This is the traditional place to start. 

Banks can give you a good deal. But they can also be slow and inflexible compared to other types of lenders. 

Then you have credit unions and peer-to-peer lending options.

And at the other end of the spectrum you have pay day lenders, who aim to give customers quick cash loans at high interest rates. 

Your personal financial situation will largely determine which type of lender you wish to deal with. 

Loanplace is a broker that works with New Zealand’s leading lenders and matches customers with the best option for them.

Get an instant estimate of how much we could help you borrow.

Choose A Finance Company That Prides Itself On Excellent Customer Service

You might be paying back your loan for several years after you settle on a provider. 

So it pays to choose a company that has a great customer service ethic and delivers friendly, professional service.

There’s nothing worse than being bounced around a call center by customer service reps who don’t seem to care whether they help you or not!

So whoever you select to borrow money with, be sure they treat you as a valued customer, that you can contact them easily and that they provide a professional service.

Make Sure Your Loan Provider Or Broker Has A Proven Track Record

This especially goes for small lenders and pay day lenders. 

Never borrow money from someone who can’t prove they deliver great results for their customers. 

Make sure they clearly state their terms and conditions — and their fees.

And, if possible, choose a finance provider who can substantiate their reputation with verified customer reviews!

(Here’s what that looks like.)

If you have any questions don’t hesitate to get in touch with us on 0800 461 228 — or email us directly at [email protected].