Rons Rave

Why choose a financial broker over doing it yourself?

Ron Chowanetz - Friday, October 19, 2018
Why choose a financial broker over doing it yourself?
Finances can be a topic many people avoid talking about. Sometimes they even avoid starting the process of getting finance until it comes to the point that they have no choice but to take the step. This process can be done alone or with the support, knowledge and experience of a finance broker. 

Too many times people don’t have the time to do their homework or the experience to know where to start and what to look out for.

A finance broker is a third party who arranges the finance between the borrowers and lenders. As a specialist in vehicle and asset finance, I will share with you three of the benefits of using a finance broker.

1.    Access to multiple options/minimise security offered

Using a broker means you get access to many different lenders depending on what asset is being funded. There is a rule of thumb that continues to remain true, “Use anyone except your bank to finance capital equipment”. 

It is vital you use available funds and collateral security only for working capital and not to purchase equipment. Don’t overexpose yourself to one lender as they may limit funding to you. As your exposure increases with one financier, they will increasingly want to dictate the terms of how and when you repay debt.

2.    Save time, money & stress

It’s a cliché saying, “saving you time and money”, and it certainly rings true when using a broker. The lenders we have accreditations with (and there are many) can certainly offer better finance options and service as your existing facility (or at the very least match it). 

A business owner wants and needs to continue to concentrate on running their business, rather than worrying about applying for money, and that’s where we brokers come in – we do it all for you. It’s quick and simple. We strive to ensure you get the deal that best suits your needs with minimum fuss on your part.

3.    Industry knowledge

The key way in which finance brokers can help your business is by removing the #1 barrier to business growth.  Brokers have a vast knowledge of how individual funders work and when it comes to asset funding it is essential that you match the asset with the funding (in other words, choosing the option that will best match equipment finance cost with the income for the asset). 

Some assets will become obsolete quicker than others, so the decision about what term to choose to finance your equipment needs to take into account each asset type. 

We care about our clients and their businesses. That’s why we take the time to get to know your business and ensure we are accessible to answer your questions in a timely manner. 

Why take the chance of not seeking specialised support for one of the most important decisions you will make in your business? 

If you are looking for vehicle or asset finance and have any questions give me a call today on 0412 534 503.


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