The features and benefits of horse float personal loan
You can compare loans starting at competitive rates for both secured and unsecured, helping you secure a cheaper deal for your profile.
With a personal loan, you can secure financing for as low as $2,000 all the way up to your maximum borrowing capacity, which is capped at $75,000.
You also have a say in the affordability of your repayments by setting the length of your loan anywhere between one and seven years to suit your repayment capabilities.
Because you’re utilising a personal loan, you aren’t restricted to buying either new or used floats: your range of options is extended to both of them across the country.
You’ll be able to choose between fixed and variable interest on your personal loan, giving you a choice between stability and the potential for further savings.
Personal loan applications only take five to ten minutes to complete and are 100% online. After submitting your application, you can receive an outcome in just 60 seconds.
Types of personal loan
With an unsecured personal loan, you can potentially borrow as much as $75,000 without the need to attach any valuable assets, such as your car, as security. These loans are the most widely available and often the quickest, with same-day approval possible.
Secured personal loans, on the other hand, make use of collateral. This lowers your risk profile in the eyes of a lender, potentially lowering your interest rate and expanding your borrowing power beyond what you may be able to get through an unsecured loan.
Variable interest rates remain open to fluctuation during your term. This means you can benefit from decreasing rates and save on your loan if the market heads in that direction, although you’ll also pay more if rates start rising.
Fixed interest rates are locked at the beginning of your loan and remain constant throughout your repayments. This acts as a valuable protection against interest rate increases, as your loan will be unaffected, but you’ll miss out on potential drops as well.
If you’re paying off multiple debts at the moment, particularly those with high interest (such as credit card debts), consolidating them into one payment can not only make them more convenient to manage but also potentially save you money overall.
Looking to take off on a holiday with your family but want to pay it off at your own speed? Travelling can be expensive, so you can distribute the cost of your next trip over a period you’re more comfortable with by taking out a personal loan to pay for it.
There are so many costs that go into making your dream wedding a reality, from venue hire to catering to dresses and suits and so much more. By taking out a personal loan, you can start planning the big day you want, even if you can’t pay for it upfront.
Home improvements are desirable for a range of homeowners to help keep their living space fresh and interesting, not to mention increase its value. You can get past the financial hit of renovations with a personal loan paid in instalments.
Personal loans aren’t limited to PAYG employees, though. If you’re running your own business, you can still be approved for financing by submitting tax returns and other alternative documents instead of payslips and utilise your funds however you wish.
There’s a variety of expenses which come with being a student, ranging from the cost of your courses, textbooks and computer to your accommodation. Taking out a personal loan can make these costs more manageable by spacing them out.
Some lenders offer green personal loans, which are designed to be used for energy-efficient appliances and products such as solar panel and air conditioning installation in your home. You can qualify for lower interest rates and fees with this loan.
Why compare personal loans through Savvy?
Horse float personal loans explained
Why should I consider a personal loan to help me finance my horse float?
When it comes to your options for horse float financing, personal loans are amongst the most affordable with highly competitive interest rates. These stand in contrast to other methods of payment, such as credit cards, as lowering the overall interest and associated fees can make a real difference in the long run. Simply put, it can sometimes be difficult to garner the savings required to pay for something as important as a float for your horse.
This kind of purchase can often set buyers back thousands of dollars, which you may not have available when you need it. Couple that with the fact that you want to buy a product that meets your quality requirements and you’ll probably have a sizeable hole burned in your pocket. That’s where a personal loan can come in to help. Whether you apply for one to cover the cost of the float or simply to lend a helping hand, personal loans are an effective way of alleviating the financial burden of big purchases.
What’s the difference between a secured and unsecured personal loan for financing my horse float?
Another choice that your lender may provide to you is whether the horse float personal loan you go with is secured or unsecured. Securing your personal loan involves affixing a valuable asset of yours as collateral for added security. This will usually come in the form of a car or other vehicle, or in this case your horse float. Lenders will generally offer lower interest rates to lenders who secure their personal loans, as the security of one of their valuable assets means that they will have added motivation to ensure the loan is paid off.
Alternatively, you can opt for the more common option of an unsecured loan. These are quicker to process and generally easier to be approved for. They may become necessary if the horse float you’re looking to purchase is a bit older and your lender doesn't accept it as collateral. The trade-off for borrowers avoiding putting forward an asset for security could be higher interest rates and monthly fees, but unsecured loans can be more lenient in the way that you are able to use the funds lent to you. This may come in the form of adding money to your horse float personal loan to pay for any bills or making use of any spare change should there be any left over.
What else should I consider when comparing options for horse float financing?
There are a variety of areas you can look to when comparing different finance options for your horse float. As mentioned, fixed or variable rates and secured or unsecured loans are two major factors that will likely inform your decision over which lender to go for. Interest rates will also prove to be a key point of difference between lenders and are perhaps the most easily accessible way to compare them, given that rates are often front and centre on webpages. Each lender’s policies on elements such as minimum and maximum terms or amounts, repayment conditions (e.g., extra/early repayments) and other fees will also serve as important considerations for any prospective lenders.
Other horse float finance questions
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Still looking for the right personal loan?
Personal loans come in all shapes and sizes, so read more about the ways you can use them, as well as how they might work for you.