The conditions of your new loan will determine what happens to your redraw balance when you refinance a loan with a redraw facility. You might be able to reduce the principal and possibly your monthly payments by transferring the redraw balance to the new loan in certain circumstances. But as part of the refinancing process, some lenders might force you to close the redraw facility, which means you’ll lose access to any outstanding redraw funds. To find out how this would affect your redraw facility, it is imperative that you discuss this with Trelos Finance prior to refinancing.
Your credit score, the length of your loan term, your current interest rate, and your financial objectives all play a role in determining whether or not to refinance your auto loan. Over time, you may be able to save money by refinancing if your interest rate or monthly payments are lowered. But before you refinance, Trelos Finance will ensure:
- It fits your goals,
- Fits your financial condition by weighing the benefits and drawbacks,
- Include any associated costs in the proposed transaction.
Trelos Finance will ensure you can make an informed choice by comparing all options available.
Generally, no. You need to ensure that your property has enough equity in the property to make sure you’re in a position to refinance. Trelos finance will arrange for a valuation on your behalf to ensure we’re in a position to refinance.
Refinancing costs vary based on a number of factors including:
- Lender exit fees,
- Application fees,
- Government fees.
Trelos Finance will go over these expenses with you and take them into account before refinancing.
The first step in financing a business car is to find a good lender and make sure your company satisfies their requirements, this where Trelos Finance can assist! After assembling the required paperwork, Trelos Finance will assist in submitting a financing application and carefully read the terms and conditions. We will then complete the finance arrangement and utilise the money to buy the car after it has been approved. Make a commitment to paying on time and in accordance with the terms specified in order to keep your credit score high. Through this procedure, you can successfully manage your funds and purchase the car that your business requires with Trelos finance.
Brokers can help with refinancing, yes. By utilising a variety of lenders and lending choices, they assist you in navigating the refinancing process and locating the ideal terms and rates for your circumstances. In addition to saving you time, brokers help handle paperwork and negotiations, sometimes achieving better prices than you could find on your own.
The “best” refinance business for you will rely on your unique needs and situation. This is where Trelos Finance will compare:
- The terms of the loan,
- Applicable fees,
- Interest rates,
- Customer service.
This will allow you to make an informed decision that is specific to your financial needs & objectives.
Here at Trelos Finance, we do not charge a fee for our services. Our fees are paid upfront by the lender ensuring you receive the best product for your current situation.
Asset finance is the process of obtaining business financing by using a particular asset as security, such as machinery, automobiles, property, or equipment. Instead of paying for assets all at once, you can spread the cost of acquisition over time with this kind of financing. It can assist companies in controlling their cash flow and acquiring essential assets without using up all of their capital reserves. Hire purchase agreements, leasing, and asset-based loans are common forms of asset finance.
Start by determining your financial situation and the necessities for the vehicle before applying for a business auto loan. Trelos Finance will explore potential lenders for business auto loans and compile the required paperwork, such as income verification and financial data. We will then apply for the loan, work out the terms, and make sure you read the offer through completely before accepting it. Once accepted, buy the car and adhere to the loan terms by making regular payments.
Yes, it might be beneficial to remortgage through a broker. Brokers give customers access to a variety of lenders which often results in better terms and prices. To save time and effort, they also handle paperwork and negotiations.
Trelos Finance will make sure your company satisfies the requirements by doing some research on lenders before applying for a business vehicle loan. We will then collect the necessary paperwork, evaluate loan offers, then submit an application to the lender of your choice. Lastly, we will examine and approve the terms of the loan, then complete the loan. To keep your credit score high, use the money to buy the car and make your payments on schedule.
