CarStart Finance Review: Are their higher interest rates worth it?

There are numerous lenders offering finance to borrowers in Australia including CarStart Finance. But are they any good? Let’s find out.

It’s always wise to do your research when taking out any type of car loan. You never know…you could get a better deal elsewhere after all.

Our review of CarStart Finance discovered high interest rates for their borrowers, ranging from 7% to 30% based on the strength of the loan application.

But while that might seem like a bad thing, there are instances where you should go with this lender.

So let’s dig a little deeper here.

CarStart Finance Review

This is a finance company who helps people with car loans primarily in Brisbane.

If you check the online reviews of CarStart, they are less than ideal. Some people really hate this company.

CarStart Finance Review Slacks Creek

One thing that we discovered through our research is that CarStart is owned by CreditCorp. So if you default on your loan obligations, you’ll be hearing from the toughest guys in town.

That said, CarStart is a good company. They work with clients to get the best possible deal.

Interest rates do vary. Some people might pay 7% while others get hit with 30% rates on their entire loan. It really depends on the application as they are all unique.

To get the best chance of approval, you should;

  1. Make sure all your documentation is in order. No loose ends.
  2. Actually have a reliable income stream like a job or business.
  3. Nothing significant on your credit report like loan defaults.

And the thing is too, even if you do your best to get everything right, there is no guarantee of success here. Some people are just plain out refused finance.

No car loan provider in Australia can guarantee approval. Run if someone says it’s guaranteed!

CarStart seems to mostly target those in challenging situations that need a car for work. Slacks Creek has a lot of industrial-based jobs after all.

If that’s you – it could certainly work out in your favour to run your application through them. It’s often more convenient to use someone local in the market.

With that out of the way, let’s look at some finer details here:

CarStart debt collection

If you’ve defaulted on your car loan, then you can expect contact from Credit Corp regarding your CarStart profile. You’ll have to make catch up payments and they might hit you with some penalty interest as well.

Why did I get a high interest rate?

Some lenders take on a huge risk with some applications who have less than ideal credit histories, so to compensate, they need to charge a high fee. This also includes a loan establishment fee and application fee, plus commissions too!

Are there better alternatives?

Often if you’ve been approved with CarStart but the interest rate is high, other lenders are likely to be the same. They are all a bit concerned that you might default in the future or simply not be able to make your repayments on the car.

How can you help me?

Well, here at The Debt Free Community we’re designed to help people in challenging financial times. Let’s say you’re being chased by debt collectors and need someone to step in for you, to stop those nasty phone calls and letters of demand. That’s where we can help!

Getting started

If you’re looking for a car loan in Slacks Creek, then CarStart is a good choice. They do seem to have a good success rate with their applicants.

Avoid any temptation to skip your repayments. They know where you live and work now, so will be able to repossess your car if they desire to get the money back. After all, this is secured finance.

We would recommend these guys if you feel comfortable to use them. On the other hand, some other lenders might have a better deal available for you.

And at the same time, if you’re in dire finance times, then taking out finance probably isn’t the best idea right now. Instead, you should focus on getting OUT of debt, not into more debt.

If debt collectors are harassing you, then please get in touch with our team. We’ll be more than happy to help you out!

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What is Personal Insolvency? (And How to Avoid It)

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Rapid Finance Review: I’ve got some bad news for you…

Rapid Finance Review

We’re continuing to research Rapid Finance for consumers. The Debt Free Community continues to examine the dangerous game of the short-term money market in Australia.

Rapid Finance provides all types of loans including payday finance and in this review, we’re going to tell you why this type of loan is a bad idea.

Because what you really want to know is: Am I getting the best deal possible?

In most cases, you actually aren’t. We’re here to tell you that you find the solution to your problems at the very bottom of this guide. Let’s get into it!

Rapid Finance Review

The promise with a lot of these guys is instant cash finance. But there’s a catch that you’re probably completely missing here.

It’s the sky-high interest rates you’ll be charged, often as high as 30%.

Now luckily, Rapid Finance also provides a range of other financing options at significantly more attractive rates. This includes their home and car finance plus personal loans.

With the personal loans, it’s probably going to take a few days for you to get approved and for the funds to be transferred. It’s a small price to pay when you consider the cost of traditional payday loans.

In our opinion, Rapid Finance reviews are quite genuine showing the degree of customer service and attractive loan rates. Unfortunately, not everyone was happy.

The thing is: They can’t guarantee that you’ll be approved. It’s always based on several factors including your credit report and any red marks you might have.

Dealing with financial challenges

Some people keep taking out finance each and every year, only to slide backwards in life.

It’s a bad cycle to be in with no clear exit strategy in place. So many people eventually declare bankruptcy.

Maybe you know someone like this who got themselves in hot water. Maybe you’re one of those people.

Are debt collectors calling you? Or are you starting to miss some repayments on bills? If yes – you should probably get in touch with us right now.

What we can do is recommend our mediation service. They will speak to those bill collectors on your behalf so you don’t have to go through the stress yourself.

Because after all, you just want to get on with your life and not deal with these worries and struggles. Let someone else (like ourselves) sort that out for you.

Rapid Finance debt collection

Have you been contacted by debt collectors on behalf of Rapid Finance? You probably got a text message that says “Please contact us immediately regarding an urgent personal matter” – it’s an official warning from them.

Their collection agency has seen that you’ve ignored their attempts to recover the debts owed and now it’s with their collections agency. It’s a difficult time for most people.

Luckily – we’d love to help talk to them on your behalf.

In summary

Rapid Finance is one of the best Australian companies out there. While they can’t approve everyone, they clearly do the best that they can.

We wouldn’t recommend their payday lending services and they don’t really offer this much. After all, they want their customers to get an awesome deal.

If you’re having some challenges right now, then please contact the National Debt Helpline or us right here at The Debt Free Community so you can start rebuilding from a rough past.

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Payday Loan with SRG Finance: Your Worst Mistake All Year?

SRG Finance Australia

It’s crazy to think that people are still happy to get seriously high interest loans from companies such as SRG Finance in St Kilda.

You’re probably needing some cash quickly, right? Like things aren’t going so well. Maybe you’re overdue on some bills or other debts like your credit card.

Getting a payday loan through SRG Finance could be the worst mistake you’ll make this year, if you can’t repay it. Luckily, the reviews look great!

This appears to be a great finance company if you can stomach the excess interest they charge. In this guide, we’re actually going to discuss the payday lending challenges.

SRG Finance

If you’re looking for a small loan which you think you can repay quickly, then that’s called a payday loan. It’s something that SRG Finance likes to offer.

The main problem is the interest rates. They are very high!

Next we have the penalties (or slap in the face) if you miss a repayment.

Also, they can put bad marks on your credit history if you don’t repay on time.

But most importantly, when you do take out a payday loan, that could restrict your chances of getting a car loan in the future. This is because too many loan applications does make banks quite nervous about your personal affairs.

SRG Finance Australia

Now truth be told, it’s not all that bad. When you read the online reviews, you’ll find most people are pretty hapyp with SRG Finance. Their customer service shines.

Our main gripe is the payday loans on offer for which they’ll charge you a nice 30% on. It’s very profitable for them and the Australian government lets them get away with this.

Payday can be disastrous

You think you’ve got a grip on things then something big comes up. Like you gotta repair the car quickly or your tooth has some aches and pains.

Those are genuine reasons for taking out a payday loan. That is if you’re happy with the Terms and Conditions which are very much in favour of the lender.

They are compliant it seems with the National Credit Code and ASIC restrictions.

It’s the borrowers that still often suffer with these payday loans. They take out these loans to repay other debts or use them to fuel alcohol or gambling addictions.

If you’re looking for a sure-fire way to go backwards in most cases, then a payday loan is a good one for you. Most people are smart enough to avoid these.

Banks like to lure you in. The interesting part is that they profit off your misery. Lost your job? Bad relationship? Now you need a loan and they’re going to make a fortune.

In fact, it’s a billion-dollar industry right here in Australia. Consumer Action has a massive article on this.

In the United States, it’s 90 billion. Yes, that’s billion with a B. Crazy, isn’t it?

Debt collectors soon arrive

Have you been contacted by debt collectors recently? Maybe even representing SRG Finance. You probably got a letter or SMS text message like “You must contact us now to have this immediately resolved!!” with big threats.

You really do need to take action if this is happening. Payday lending is merely a debt trap that you’ll struggle to get out of easily. Ignorance isn’t bliss and nor is taking out additional debt. That’s fighting with fire and everything we’re against here on this website.

Where we can help

Put your thoughts of a payday loan to the side for a moment. Clearly we have a debt crisis here in Australia and 85% of payday loans originate online now.

What that means is that it has become so much easier for you to take out that attractive looking loan but also, so much easier for them to lend (and make a profit!)

You’re basically trading a short term gain today (instant cash) with long term misery. That’s literally no way to live.

If you’re having a tough time paying for things, then please get in touch.

We can:

  1. Talk to debt collectors for you so you don’t have to answer the phone.
  2. Work out a way to reduce your monthly expenses so it’s manageable.

That’s how we work primarily and we advocate against payday lending constantly. In fact, we’d love to see all Australians getting out of debt.

In summary

SRG Finance is a good company but please pass on their short term finance offerings. Their personal loans may have more attractive rates.

The team is friendly but they don’t offer anything decent on payday loans. In fact, these companies often make big chunks of cash off these loans. Do you want to make a profit for them?

Why not get in touch with someone who can help you out during these tough times. The discovery phone call is FREE. Let’s see if we’re a match.

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Clear Loans Review: Are Their Interest Rates TOO High?

It’s always a good idea to research companies such as Clear Loans by reading online reviews such as this one, as you’ll be much wiser moving forward.

Australia has many Pay Day and short term lenders dishing out loans each and every day. The thing is: Not all are created equal. You see – there is a big disparity.

We recommend that you READ THIS REVIEW FIRST of Clear Loans before you go through with your application. You’ll want to know if they’re the real deal.

Because here at The Debt Free Community, we actually research these companies for you. Plus – if you’re struggling with debt collectors hassling you, then we might be able to help too!

Clear Loans Review

When you search online, you’ve no doubt seen an interesting mix of reviews about Clear Loans. Some say they’re very good, while others are not so happy.

Why is this so? Well, typically those who got finance approval left a 5-star review, while those who got denied left a 1-star review. It’s pretty typical and not many people leave more constructive feedback halfway through.

But one thing is for sure: They have been around for a long time and will continue to stick around in Australia for a lot longer. While not one of Australia’s biggest companies in the financing space, they have made some good progress since the early days of the company.

Clear Loans Australia Review

At the same time, the emphasis should be on you. What you want is a fast finance application process, quick approval but at a good interest rate.

What we can recommend is:

  1. Make sure you have all your documentation in order before applying.
  2. Don’t count on finance approval because it’s never guaranteed at all.
  3. Consider just getting a 2nd job or drive for Uber if you need quick cash.

The last point is interesting as we generally don’t recommend Pay Day loans around here. This is because the consumer (yourself) often doesn’t get a good deal.

In fact, we’re all about 100% zero debt lifestyles, but we understand that this isn’t entirely possible for most people. Like sometimes life just throws them a curveball, right?!

In such situations, engaging with Clear Loans could be a good idea. These guys may be also able to help with car loans and home loans, especially if you have full-time employment currently.

What’s evident is that they do their best to stay within the confines of Australian laws and regulations. Not always but almost all of the time.

The main thing we don’t really like is the guarantor loan approach. That is – someone else has to cover your loan if you fail to pay. It’s not a wise move for anyone. Again – see if you can get another job if possible.

That said – this company still continues to do their best and often tries to avoid guarantor loans in the 1st instance. It all comes down to how good of an application you are to them.

How long does Clear Loans approval take?

This really depends on the individual circumstances. We’ve heard of same-day approvals but this isn’t often the case, especially if you apply at 4pm on a Friday afternoon! Generally, it takes a few days for approval AND for the funds to transfer across.

Clear Loans Review Approval Time
Loan and finance Australia

Why are the Clear Loans interest rates?

Typically higher than most other lending products. After all, they specialize in Pay Day loans which are high risk. For that reason – they need to charge more, up to 30% under Australian laws. It’s crazy!

Is it still worth it?

Yes – it can be worth it if you can justify the reason for the loan to yourself. Gambling is not a sufficient reason. You might need to buy a cheap 2nd hand car to get to and from your new job. That’s a sufficient reason where it might be worth it, when all other options have been diminished due to a bad credit history.

How can you help?

The Debt Free Community helps people with our recommended service. They can talk to debt collectors or even banks on your behalf, so you don’t have to. If you’re receiving threatening phone calls and letters, but you’re too scared to answer them, then this is exactly where you could perhaps benefit.

Getting started

Clear Loans is clearly a loan service provider that most Australians are happy with, but not all people. The thing is – you’ll get a better chance of approval if you have regular employment and reasonably clean credit history, paired with well-prepared documentation for the bank.

The interest rates are a tad on the high side, but a tradeoff if you’ve considered all other options or have been denied elsewhere. For this reason, we rate them reasonably well within this review.

At the same time, if you’re already in financial distress, then please consider getting in touch. If threatening phone calls, messages and letters from debt collectors is stopping you from sleeping, then it’s time to take action today.

If you don’t want to speak with them, then we can! 😃

Here’s what you can do:

  1. Drop-in your contact details to have a chat
  2. One of the team members will be in touch
  3. You’ll be assessed if you’re a good candidate
  4. Celebrate in no more phone calls or letters arriving

It’s really that easy!

Thousands of Australians have already taken this approach to their debt collection harassment and dramas. If you want to sleep at night, then this is a wise approach.

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