Want to hit the tracks but don’t want to wait
until you’ve got the cash? Here’s how.

While it’s great if you have the cash saved and ready to go for that next boat or camper trailer purchase, more often than not a finance option is a good way to get travelling as soon as possible. So who do you turn to for tailored solutions for adventurers? The major banks have strict terms and conditions and can be quite inflexible. Independent finance specialists are an option that more and more 4WDers are taking up purely for their independence.

Dave Challinor from Fortified Finance and Leasing says this is one of biggest reasons for growth in the independent financial sector over the last few years. “People just don’t want to be treated as a number anymore,” he told us. “They’re looking to get personalised service and a more tailored package that suits their individual situation, which an independent specialist can give them.”

With this in mind, we got Dave’s take on loans and what they mean for you.

LOAN OPTIONS
There are many product types available, and Fortified Finance and Leasing sort through them all and tailor them to your own situation. In most cases, the team try and source funding on a secured loan basis. Secured loans by definition are generally the cheapest alternative. However, unsecured options are also available should you not be eligible for a secured loan.

While it is possible for clients to draw against their own home loan for these large purchases, it is something that Fortified Finance advises against for a number of reasons. Home loans are generally taken over a 25 to 30-year period, which means purchasing 4WDs and campers will have you indebted to the bank longer. Short-term lending on a secured/ unsecured basis puts you into a position to repay the loan quicker, which frees you from the bank sooner rather than later. After all, the longer you’re indebted to the bank, the more interest you have to pay!

Because of the short-term secured/unsecured loans, the actual dollar amount of interest can be substantially less than using your home loan if you pay it off over the full term. If your financial planner has already begun using the equity in your home to generate future prosperity for you and your family, the last thing you want is to limit their ability to do so. At the end of the day, Fortified Finance and Leasing is simply about getting you on the tracks sooner and out of debt quicker.

Article by Dave Challinor, Fortified Finance & Leasing
as appeared in Action and Adventure

ABOUT DAVE: With over 20 years of banking and finance experience, Dave has been exposed to and witnessed every possible change in the financial environment. From bank policy shifts to continually increasing governmental legislation, there is really no form of lending that Dave has dealt with. Being the owner of Fortified Finance & Leasing in Brisbane’s North, Dave stays abreast of any changes in lending requirements that affects any consumer. and personal needs.

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