Furniture Loans

Furniture loans are in a family of products called cash loans. These loans get regulated by the government in Australia, and they’re designed to be a multi-purpose way to borrow. That means, unlike with a car loan, where you need to tell the lender exactly what you’re buying, with a cash loan, you can pay for pretty much anything. For instance, you can use one loan to pay for furniture, a couple of utility bills, and removalist fees – with one monthly repayment to cover all the different costs.

You definitely can. One of the things about cash loans is they’re supposed to provide a convenient, cost-effective way to spread repayments for larger purchases over time. They’re a flexible finance solution, which means if you discover you no longer need the facility during the loan term, you can repay without paying any extra fees whatsoever. You can also make extra repayments during the loan.

You won’t be able to make any adjustments to the amount or term of the loan while it’s running, so it’s essential to think carefully before you apply and cover all the items and expenses you’re going to need. Lenders need you to repay your existing loan before you take out another one, so it’s worth giving things some thought before you borrow.

Cash loans for furniture are unsecured loans, which means you don’t have to use your new items as collateral when you borrow. Unlike most car loans, the lender won’t hold a claim over your furniture during the finance term.

You absolutely can. Cash loan qualification requirements are different from many other forms of finance. The lender is primarily interested in making sure you can pay your loan back without hardship. Pensioner loan repayments can be made using age pension income, and similarly, loans for the self-employed get assessed by what goes through your bank account each month – not so much by what you do for a living or how long you’ve been with an employer.

Furniture stores offer a very limited choice of finance products – they usually only work with one credit provider. When you apply for furniture finance via Savvy, you’ll see a wider choice of cash loan lenders – and they offer finance specifically designed for purchases like furniture.