Finty
The Asset Financier

The Asset Financier Consumer Loan

Fixed rate

A consumer loan designed to help customers purchase a new or used asset for personal use. The loan features a fixed interest rate and no deposit requirement.

Written byDavid Boyd
Interest rate a year, from
9.49%
Comparison rate, from
13.43%
Establishment fee
$495
Monthly fee
$10
Borrow
$5,000 to $250,000

Monthly repayment

$20,000 over 3 years

What it would cost

At the lowest published rate of 9.49%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$651
Total repayments
$23,419
Interest and monthly fees
$3,419

Loan details

Rates

Interest rate (a year)
9.49%–18.70%
Comparison rate (a year)
13.43%–15.43%
Rate type
Fixed
Security
Not published

Limits and fees

Loan amount
$5,000 to $250,000
Loan term
2 years to 7 years
Establishment fee
$495
Monthly fee
$10

How it compares

Against the other personal loans we compare. Typical means the middle half of them.

Comparison rate

13.43%

From 13.43%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$6,288

Interest and fees at its starting rate. Typical is $5,513.

Setup fee

$495

A typical setup fee is $150.

Monthly fee

$10

A typical monthly fee is $8.

Most you can borrow

$250,000

Typically you can borrow up to $60,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • Room to borrow more. Up to $250,000, more than the typical $60,000, which can cover bigger costs in one loan.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A higher starting rate. Its comparison rate starts at 13.43%, above the typical 10.14%, so it's likely to cost more than most similar loans unless you're offered less.
  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 9.49% to 18.70%, and only some people get the starting rate.
  • A higher setup fee. $495, above the typical $150. It's usually added to the loan, so you pay interest on it too.
  • A $10 monthly fee. That adds $597 over 5 years, as well as the interest.

Similar loans

Personal loans from other lenders that start at a similar comparison rate.