Blog

Benefits of Loan Pre-Approval   Making big purchases, like a new car or home is exciting! It also requires thinking about your situation and choices carefully. You may also need to act quickly when necessary, which can be tricky. A fast loan pre-approval is a helpful tool that can make this process easier. It increases your chances of buying what you want before someone else does and takes some of the stress out of these monumental decisions!   What's Conditional Pre-Approval? Conditional pre-approval is like a signal from a lender. It tells you that you can ask for a loan up to a certain amount. But you don't have to take the loan, and the lender doesn't have to give you that much money. However, it tells a seller that you're serious about buying and that you're sure you can pay for what you want. To figure out how much you can borrow, the lender looks at your financial situation and the price range of whatever it is you want to buy.   Why Consider Pre-Approved Loans? Conditional pre-approval not only shows sellers that you're serious about buying, but it also helps you with your finances and budgeting once you find what you want. If you're just starting to think about buying a home for example, getting a swift pre-approval helps you look for homes that you can more likely afford. It gives you an idea of how much money the lender might lend you. If something changes while you're looking – like your money situation – you can update your pre-approval.   How to access Fast Loan Pre-Approval from Horizon Bank? You can apply for a loan online, pop into your local Horizon branch, or give us a call and talk to a lender. Here's what you should know: The price range of what you want to buy If you've saved money for part of the purchase How much you earn How much you spend on living expenses   How Long Does Loan Pre-Approval Last? When pre-approved for a loan, the pre-approval generally will last for two months. Need longer? No stress! We just need to revisit your documents to give you more time. Speak to your lender to learn more about the duration of your individual pre-approval.   Time to Buy, What Happens Next? Once you find what you want to buy you just provide the details to the lender and seek formal approval. This significantly reduces turnaround time in order for you to make your purchase quickly.   With 10 branches located in Thirroul, Wollongong, Albion Park, Berry, Nowra, Ulladulla, Moruya, Bega, Bermagui and Merimbula, we have got the NSW South Coast covered. Not a local? Not a worry! Reach out to us by filling in an online application form and we’ll assist you over the phone and email.

Did you know that electric and hybrid cars produce significantly fewer emissions than traditional petrol or diesel vehicles? If you're looking to reduce your carbon footprint, switching to an electric or hybrid car is a great way to do it. In this blog post, we'll take a look at the benefits of electric and hybrid cars. What is a carbon footprint and how can electric and hybrid cars help reduce it?The carbon footprint is the total amount of carbon dioxide and other greenhouse gases that are emitted by an individual, organisation, event, or product. Greenhouse gases are released when fossil fuels such as coal and oil are burned. They contribute to the Earth's greenhouse effect, trapping heat in the atmosphere and causing the Earth's temperature to rise. Electric and hybrid cars can help to reduce an individual's carbon footprint because they produce zero emissions. In addition, electric and hybrid cars are often more fuel-efficient than traditional fuel-powered cars, meaning that they require less fuel to travel the same distance. As a result, electric and hybrid cars offer a cleaner and more efficient way to travel, helping to reduce our impact on the environment. How do electric and hybrid cars work?Electric cars are powered by batteries that store electricity, which is then used to run the car's motors whereas hybrid cars have both an electric motor and a fuel engine. The electric motor is used for low-speed driving, while the fuel engine is used for higher speeds. Both hybrid and electric cars use regenerative braking to help charge the batteries. When the brakes are applied, the car's kinetic energy is converted into electrical energy, which is then stored in the batteries. What are the benefits of owning an electric or hybrid car?Hybrid cars and electric cars are becoming increasingly popular as people look for more efficient and environmentally friendly ways to travel. There are a number of benefits to owning an electric or hybrid car! They produce no emissions They’re more fuel-efficient than traditional petrol or diesel cars They’re often cheaper to maintain Electric cars also have the potential to save you money on fuel costs, as you’ll only need to charge your battery rather than buying/refilling petrol or diesel. Hybrid cars offer a compromise between electric and traditional petrol or diesel cars, as they still run on petrol or diesel but also have an electric battery that helps to power the car and reduce emissions. Ultimately, the decision of whether to buy an electric or hybrid car depends on your personal circumstances and preferences, but there’s no doubt that they offer a number of benefits over traditional petrol or diesel cars. Consider your daily driving habitsIf you have a long commute or frequently drive on the highway, a hybrid car may be a better option since it can run on petrol if needed. Electric cars are best suited for metropolitan driving, where there are plenty of charging stations available. Think about your budgetHybrid and electric cars tend to be more expensive than traditional petrol or diesel-powered vehicles, but with fuel prices fluctuating rapidly they may save you money in the long run. Do your researchTest drive a few different models before making your final decision. Reach out to experts, friends, family or peers who have experience with electric and hybrid vehicles. With so many options available, it's important to find the right car for you. Horizon Bank has a Green Car Loan that offers competitive rates and terms to help you finance the purchase of a new or used hybrid or electric vehicle. The Green Car Loan from Horizon Bank is a great option for those who are looking to finance a green car. The loan offers competitive rates and terms, making it easy to get a car loan for a new or used hybrid or electric vehicle. Get in touch with your local branch today and let us help you get behind the wheel of your new car! Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong.