A vehicle or a repair
Include running costs, insurance and an allowance for the unexpected alongside the purchase price.
Borrow with the whole picture in mind
A loan should fit your life.
Not just your purchase.
Replacing a car, improving your home or investing in your business can bring a lot of questions. Start with what the money is for, then look carefully at the commitment that comes with it.
Ask a borrowing questionWhat are you making room for?
A change at home
Get estimates, separate essentials from extras and leave room for work that may cost more than expected.
A business requirement
Connect the funding need to a cash-flow forecast. Consider how repayments would be met during quieter periods.
Before you commit
Questions worth putting in writing.
Ask for an explanation of anything you do not understand before signing an agreement.
What will I repay in total?
Ask for the interest rate, all applicable fees, the payment schedule and total borrowing cost. Compare offers on the same basis.
What happens if circumstances change?
Check early repayment conditions, missed-payment charges and how to discuss payment difficulties. Do not assume a payment can be skipped.
Does combining debts reduce the cost?
A single payment may be simpler, but a longer repayment period or new fees can cost more. Review the full terms before consolidating.
Your next step
A considered decision starts with a question.
Share the purpose of the borrowing and your timing. Ask how to provide financial documents through an appropriate channel.
Borrowing is subject to eligibility, credit assessment and applicable terms. General information is not an offer or a guarantee of approval.