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Clean up your credit history before you apply

Though you can qualify for this type of loan product with a bad or non-existent credit rating, having a good credit score can increase your chances of borrowing more money at a lower interest rate. T…...

Prioritise what you really need

Because of the risk involved in using a secured loan, it's best to keep your eyes on the prize. Reduce other payments if you can, and try to stick with one loan at a time, to reduce your debt-to…...

Know what makes good collateral

The best types of assets to use as collateral are ones with a title of ownership such as a home or vehicle. Because banks are mostly conservative about valuing an asset themselves, keeping a detailed…...

Explore all your options

It's important that you explore all the loan options available to you. This means checking what each lender is offering in the way of loan terms, amounts, comparison interest rates, any addition…...

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