Consolidating car loan into home loan

To help you find what your payments would be, use an online loan calculator to figure out different terms and rates.

A car loan consolidation is relatively easy to get, as the vehicles are all collateral against the loan.With the news media increasingly publishing advice on how to survive lean economic times and with the average South African’s disposable income now 16 percent lower (in real terms) than it was in 2007, those struggling to balance their finances are advised to consolidate their debt into one single mortgage account.Instead of paying huge interest rates on hire purchase items such as cars, the younger management sect put all their debt into a single bond, paying it off in most cases by means of monthly debit orders.If they do refuse to consolidate loans into the bond account, it is always possible to change banks.Rawson says like most other property investors, he foresees interest rates rising but relatively slowly as the global economy enters its recovery phase.

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