Banking news of the week

  • 40% of Australians spend more on their pets than on themselves
  • Is 2021 the year of the online lender?
  • Property prices rise across the board in May
  • What is a good credit score for a low rate auto loan?
  • Finish the exercise in style
  • 4 things to remember when buying a used car

All in this week’s best recap of banking news: Editor’s Choice.

40% of Australians spend more on their pets than on themselves

We all love our fur babies, but how much? Well, sorry mum and dad, but according to a recent survey by ING, a third of Australians said they adore their pets more than their human family members!

Not only that, but one in four survey respondents said they would give up on their partner if they didn’t get along with their pet, and 40% of owners admit to spending more on their pet. company. pets than themselves.

Read the full article: 40% of Australians spend more on their pets than they do, says ING to find out more about Australian pet owners and whether or not you should consider getting pet insurance.

Year of online lender

As Australians ditch the big four for record low interest rates from small lenders, it appears as many as six in ten borrowers are considering opting for online lenders instead.

But cheap rates aren’t all you could get when you go with an online lender — many of these competitors offer lower fees, simple application processes, and faster loan approvals.

Read the full article: A New Way to Borrow is taking Australia by storm for more on online lenders, plus information on some value-added options that have Mozo Expert endorsement.

House prices rose across the board in May

And just when you thought Australian property prices couldn’t rise, they did. According to CoreLogic’s latest Home Value Index, national house prices rose 2.2% last month.

This was the second highest increase of 2021, alongside the 2.8% increase we saw in March (aka the “fastest rate of appreciation” recorded in 31 years!).

Sydney (surprise, surprise) and, interestingly, Hobart currently lead the country in house price increases in May.

Hobart:

  • Increase in monthly value: 3.2%
  • Annual growth rate: 16.5%

Sydney:

  • Monthly Value Increase: 3.0%
  • Annual growth rate: 11.2%

Read the full article: Property prices rise across the board in May: Corelogic for a comprehensive overview of Australia’s property boom.

What is a good credit score for a low rate car loan?

You’re probably well aware that your credit score can dictate the type of interest rate you’re approved for when you take out a car loan — or if you’re approved at all.

But what exactly constitutes a “good” credit score when it comes to low rate auto loans? Ultimately, it’s at the discretion of the lender.

Typically, auto loans come with tiered interest rates, which means you’ll receive a rate based on your credit score. So the better your credit score, the lower the interest rate.

Read the full article: What is a good credit score for a low rate car loan? to discover now.

Finish the exercise in style

June is here, which means we’re halfway through 2021 – crazy, right? With a change of seasons and a new financial year fast approaching, we are expecting a busy month.

So our June 2021 financial checklist couldn’t have come at a better time.

In this month’s checklist:

  • Learn how to stay warm without breaking the bank
  • Get yourself a nice EOFY car deal
  • Go on a road trip to break in your new wheelset
  • Find out how you could get paid to nap
  • Get this bread this Gemini season

Read the full article: June 2021 financial checklist to help you get through the busy month ahead.

4 things to remember when buying a used car

From auto loans to car insurance, there are a number of things to consider before buying a used vehicle.

While you might think there’s less financial risk in going for a used vehicle over a new one, that’s not always the case.

Read the full article: 4 things to remember when buying a used car to educate you on all the things you should consider to avoid making the wrong used car purchase.

Looking for a car loan to help finance your new set of wheels? Then, use our auto loan comparison tool below to shop around and compare options until you find the one that’s right for you:

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