Finance Company

Finance Company

The finance company you get a loan from has a major impact on your overall loan experience. Because each finance lender has its own loan options, conditions, requirements, and processes, choosing the right one is crucial. Finance and loan companies typically fall into two categories: traditional and online lenders. If you’re looking for flexibility when it comes to obtaining loans, you can look for an online finance company that allows you to apply for loans no matter where you are.

SocietyOne is among the top online finance companies in Australia. Our online loaning process is streamlined to make it easier for you to choose among the different financial loans we offer. From start to finish, our process is 100% online, and you can even complete your online application in about five minutes. Should your application be approved, it typically takes just one business day for your funds to be released.

Some examples of finance companies include credit financing companies, car finance companies, and companies with personal loan solutions. To know more about what a financing company is, what it offers, and how you can benefit from it, we have answered common finance company questions below.

What services do finance companies offer?

Every finance company has its own suite of financial services, such as automotive financial services and quick money loans. Some of the most common services offered by finance companies in Sydney and other parts of Australia include the following:

Car loans

Automotive finance helps people acquire the vehicle they want without depleting their savings. A car loan can be used to buy a new or used car, depending on what the lender allows. SocietyOne, for example, offers secured and unsecured car loan options where you can get up to $70,000 for a secured loan option and up to $50,000 for our unsecured car loan option.

Home loans

Many traditional and online finance companies offer loans to cover the cost of property acquisition. Home loans are popular both among aspiring homeowners and investors in Australia. SocietyOne also offers home renovation loans, so in case you’re not ready to move into a brand new home yet, you can get enough funds to renovate your existing space as needed.

Student loans

Many Australian families also take out student loans to support the education of their children. These loans are typically taken out for college-level education, which can be more expensive than primary schooling. SocietyOne offers affordable loans for students. We give you the option to choose your desired loan amount, loan term, and repayment frequency (monthly or fortnightly).

How do I choose the best finance company?

Deciding on one finance company to get a loan from can be challenging, especially if you have a gamut of options available. To avoid getting overwhelmed, just keep these factors in mind when choosing a lender:

Application process

Getting a loan can be stressful if you don’t choose the right lender. If their process is inefficient, you may end up waiting for a very long time before you can get your funds. Choose a lender that is easy to work with. To get a SocietyOne loan, all you have to do is simply request a personalised quote on our platform, complete your application and submit the necessary documents online, and wait for your application to be approved.

Loan rates

Some loan companies can charge excessive fees on top of the loan’s principal amount and monthly repayments, so make sure you go for a lender who is transparent to you about how they do their pricing. SocietyOne uses a risk-based pricing mechanism meaning the better your credit score is, the better the loan deal we can offer you. We won’t charge hidden fees, monthly fees, and early exit fees either.

Flexibility of options

If you think you’ll need more than one type of loan in future, go for a lender who has multiple loan options so you can get a different loan from them next time too. This way, you don’t have to waste time going through the application process from scratch again. SocietyOne offers various cheap loans to suit your needs. You can simply go to our platform and pick out the loan type that suits you to get started.

What are the benefits of working with finance companies?

Some people think that it’s better to pay for the things they need and want using cash, and this can be true in certain situations, but there’s a wealth of benefits waiting if you work with an online finance company. You can:

Set your priorities

Loans spread out the cost of the car, home, or item that you want to buy over a certain period so you can pay for it in smaller monthly payments instead of a one-time lump sum. This leaves you with enough allowance to spend on your other financial priorities or desired items.

Retain your savings

When you pay for something expensive in full cash, there’s a possibility of depleting your savings. This leaves you little to no room to cover unexpected expenses in the future. With a loan, you can keep your money in the bank to prepare for emergencies.

Improve your credit score

Loans may be debt, but they can improve your credit score if you manage them correctly as well. As long as you don’t miss your repayments and take out too many loans at a time, you can build an impressive credit profile that will allow you to land better loan deals in the future.

SocietyOne is an online finance company where you can also get personal loans like green loans, debt consolidation loans, and motorbike loans. Request a personalised quote now to start your application with us!