What is a car loan balloon payment and how does it work?
When someone takes out a car loan, they may be given the option of repaying the loan through two different structures – one with a balloon payment and one without. For borrowers who take out a car loan without a balloon structure, they repay the loan through a series of regular monthly payments. Once they’ve […]
- Author: admin
- Date: 13 August 2024
How interest gets calculated on your home loan
As a basic rule, mortgage interest is calculated each day, based on the amount of money (or principal) still owing on your loan. As the principal declines, so does the borrower’s interest bill. For example, if someone took out a $500,000 principal-and-interest loan, interest would be charged initially on $500,000; but if, say, a year […]
- Author: admin
- Date: 13 August 2024
Car waiting times have fallen 40% over the past year
Good news for car buyers: waiting times have fallen dramatically in the past 12 months. The average waiting time for a new car in Australia was 65 days in June 2024, according to Price My Car. That compares to 109 days in June 2023 and 155 days in June 2022. The models with the shortest […]
- Author: admin
- Date: 6 August 2024
Rents keep increasing – but at a decreasing rate
Property investors continue to enjoy increases in their rental income, but the rate of growth appears to be slowing, judging by the latest Domain data. The median house rent in the combined capital cities rose 11.1% in the year to June 2024, compared to 11.5% in the year to June 2023. Capital city unit rents […]
- Author: admin
- Date: 6 August 2024
How to consolidate tax debt
If you find yourself owing money to the Australian Taxation Office (ATO), and you weren’t prepared for it, there are options available to you. What happens if you fail to make your tax payments on time? According to the Australian Taxation Office (ATO), they will first contact you. From there, the ATO will apply the […]
- Author: admin
- Date: 16 July 2024
7 costs to know when buying a car
When it comes to buying a car, it’s vital to analyse the total cost of ownership, rather than focusing on the sticker price alone. That way, you’ll be able to make an informed decision about the best way to proceed. 1. New vs used An important decision is whether to buy new or used. A […]
- Author: admin
- Date: 16 July 2024
9 things to prepare before buying a home
If you want your property purchase to be as stress-free and successful as possible, it’s important to follow a methodical process that begins even before you start looking at online listings. The first thing you should do is reduce your spending and increase your savings rate at least three months before you apply for a home loan […]
- Author: admin
- Date: 16 July 2024
How do green home loans work?
As more Australians look for ways to minimise their carbon footprint, a growing number of lenders are backing them with ‘green’ loans. Green loans, also known as sustainable loans, are loan products that can be used to finance the purchase of energy-efficient homes, the construction of energy-efficient homes and green renovations. They can also be […]
- Author: admin
- Date: 25 June 2024
The instant asset write-off could make your business more profitable
The instant asset write-off, which was due to expire on 30 June 2024, was recently extended by another 12 months, which means eligible businesses can continue taking advantage of this tax benefit in the 2024-25 financial year. Under the instant asset write-off, eligible businesses can immediately deduct the full cost of eligible assets under $20,000, […]
- Author: admin
- Date: 25 June 2024
Your quick guide to guarantor home loans
One of the hardest parts of buying a property can be saving the deposit. A guarantor home loan could give buyers the chance to enter the market years ahead of schedule by using a guarantor (generally a parent or close relative) to cover some or all of the deposit. As a result, buyers could potentially […]
- Author: admin
- Date: 25 June 2024
