At Spotter Finance we get a lot of requests for holiday loans. In fact, at the time of writing this article approximately 10 per cent of the loans that we have approved are for holiday loans or holiday purposes.
Holidays can be a stress reliever, however, Australian’s tend to holiday less than other citizens due to the significant distances required to travel to get to various destinations. Europe is not on our doorstep!
At Spotter finance we offer:
- Loans typically between $500 and $15,000 for holidays
- Loans to those with impaired credit files
- Loans typically settle within a day of you getting all the relevant information to us
It’s important to understand that if you have decided to get a holiday loan there may be other cheaper cost of funding options that are available to you, if you can’t fund the holiday out of your savings. For example, you could try a credit card with an interest free period or a low interest rate, or a personal loan through a bank. However, if cheaper options are not available, then we will be happy to consider your application to see if we can assist. Here are some helpful tips when applying.
A bad credit rating will not immediately disqualify you from receiving a loan from us. We understand that the applicants we get sometimes have impaired credit files. We will evaluate on a case-by-case basis.
The cost of finance will vary from applicant to applicant based on your individual circumstance, including the amount you are looking to borrow and your credit rating. However, lending in Australia is regulated. There is a lending example at the bottom of this page that show you the maximum rates.
If you are looking to reduce your rate, then sometimes offering security (such as a car) can help. Mention that to our loan assessors to see what’s possible if that’s something of interest to you.