Some Things To Consider When Applying for Finance Of Any Nature
(Does your monthly repayment include the following?)

AGREED VALUE CRAFT INSURANCE – For 12 Months
(Accidental Loss/Damage, Liabilities to other people and Body Injury to the named insured)

LOAN PROTECTION INSURANCE – For Life of the Loan
(This covers your loan repayments if you are sick or have an accident and unable to make your loan repayments.
 
GAP/SHORTFALL EQUITY INSURANCE
(This covers the difference between your craft insurance and the total loan commitment/pay-out in a total loss situation, e.g. craft stolen and never recovered.  A cash bonus is payable at the time of settlement/payout.)

MARINE BASED DATADOT DNA
(Protects your asset with the ultimate in anti-theft technology.)
MAKE SURE YOU AND YOUR VALUABLE PURCHASE ARE FULLY PROTECTED!!
TO COMPLETE YOUR FINANCE YOU NEED TO PROVIDE THE FOLLOWING:
CURRENT AUSTRALIAN DRIVERS LICENCE
(For proof of identity purposes.)

Find out more about DataDot
 
RECENT PROOF OF INCOME
(2 pay-slips required, one to be no more than 30 days old.  Pay-slips must be of acceptable nature, not hand-written.
If you are self employed a letter (on letterhead) from your accountant, stating your individual income is the only form of proof accepted.)
BANK STATEMENT OR AUTHORISED PROOF FROM THE BANK
(Used to confirm bank account details are correct to deduct your monthly direct debit.
Internet down loads are NOT acceptable.)

$ $ $ $ $
INTEREST RATE V REPAYMENT
WHY NOT ASK YOURSELF …..
IS IT ALL ABOUT RATE OR REPAYMENT??

EXAMPLE ONE  (HONDA FINANCE)
COMPANY (A) LENDS YOU $ 100.00 AT AN INTEREST RATE OF 14.00% OVER 1 YEAR. THEY HAVE A LOAN APPLICATION FEE OF $ 50.00 AND NO ONGOING FEES.

EXAMPLE TWO  (ANY ONE OF THE BIG BANKS)
COMPANY (B) LENDS YOU $ 100.00 AT AN INTEREST RATE OF 12.00% OVER 1 YEAR. THEY HAVE A LOAN APPLICATION FEE OF $ 75.00 AND ONGOING FEES.

 SUMMARY

SUMMARY
COMPANY (A)		COMPANY (B)
LOAN AMOUNT	$ 100.00	LOAN AMOUNT	$  100.00
APPLICATION FEE	$   50.00	APPLICATION FEE	$    75.00
INT. ON $ 150.00 @ 14%	$   21.00	INT. ON $ 175.00 @ 12%	$    21.00
TOTAL REPAYMENT	$ 171.00	TOTAL REPAYMENT	$  196.00

NOW  ASK YOURSELF …..
IS IT ALL ABOUT RATE OR REPAYMENT??