Finance broker case study
“Rob needed a new car for work and had his heart set on a 2009 Holden HSV. The ute was going to cost $43,000 and he has saved enough for a 10% deposit. However, when you are on wages, with children and a mortgage, finance becomes a critical factor.
Not just the interest rate but also the term of the loan.
On a tight budget, there is a world of difference between three years and five-year terms.
So, I went to market. I approached three different lenders and was offered anywhere between 7.15% – 10.99%. But none of them would go beyond three years. Their strict matrix of loan parameters would not accommodate Rob.
That Rob was a good mate of a friend only made me more determined. Every lender has a different mindset and IA are happy to think outside the square.
If Rob agreed to use his unencumbered boat as collateral security then they would offer 7.23% and 5 years.
He was thrilled and when we settled last Friday I got a very excited call from the car yard.
Another happy customer.
Funny really. A little bit more lateral thinking and one of the other lenders might have come to the party and got the deal. Instead, IA’s flexibility and speed won the day. Their personal touch also makes them easy to deal with.”
IA Group works closely with its partner brokers. Our relationship with you is important to us. We understand your reputation can be impacted by our performance.
We think outside the square and work with you to get deals placed for your customers. Asset agnostic, we are happy to consider any serialised asset that has a unit identifier.
To find out how we can work together, please feel free to call us on 1300 729 995.