A personal loan is a very diverse type of finance and can be used for a number of useful things. There are also different types of personal loans such as secured personal loans and unsecured personal loans which can be tailored to meet your specific finance requirements. Read the article below to find out how you can make the most out of a low rate personal loan.

1. Consolidate your debt

Take control of your finances by consolidating your debts into one manageable repayment. Whether you have credit cards, store cards and even car loans, you can roll them all into one affordable weekly or monthly repayment. The best thing about a debt consolidation personal loan is that it generally has a much lower interest rate than credit cards, so you’ll save money on interest as well as having a clear end date that your loan will be paid off by.

2. Buy a car

A secured personal loan can be a great option for buying a car, especially if you’re looking at getting heaps of extras or modifications done. A personal loan can help you to purchase the vehicle and then have additional funds available to make any mods you want to make. Whether you’re looking to add a lift kit, spotties, winch and an awning or are looking at restoring a vintage collectible, a personal loan may be the right finance option for you.

3. Go on a holiday

Even with current COVID restrictions, it is important to take time off to recharge your batteries and spend quality time with the family. Why not see what the great Aussie outback has to offer with a low-rate personal loan for your next holiday. Personal loans for holidays are generally much cheaper than just whacking it on the credit card because of lower interest rates on personal loans. With a personal loan for your holiday, you also have fixed repayments so you know exactly how much your repayments are and a fixed loan term so you don’t end up just paying the minimum balance on the credit card and taking 18 years to pay it off.

4. Plan your wedding

First of all, if you’re planning your wedding – congratulations from the team here at Loans For U. We wish you all the best for your life together and we’re here to help make your dream wedding a reality with industry-leading rates on personal loans for your wedding. We can even provide personal loans for engagement rings, so if you haven’t already popped the question, speak to our team today to find out how you can combine all your engagement and wedding expenses into one hassle-free repayment.

5. Home renovations/repairs

Whether you need to undertake repairs or are looking to renovate, a home renovation personal loan can provide you with the funds to make your dream home a reality.

Looking For More Info

No matter whether you’re looking to consolidate debt or take a much-deserved holiday, a low rate personal loan can help you achieve it. For more information on our range of Personal Loan options, speak to our friendly consultants today on 1800 538 287 or simply apply online.