Can’t face another day in the office? Desperate to experience new sights, food and culture? Well, while your heart may be saying you need some time away your wallet might be saying something entirely different. There’s no doubt that travel is expensive, and with our island home being particularly far away from most international hotspots, this probably won’t be changing anytime soon. At Safrock, we think everyone deserves some time out and your financial situation shouldn’t stop you from experiencing the world. So, how could applying for travel loans with us help you get away?
A travel loan is a personal loan for travel, and can generally be used in any way you see fit. Flights, accommodation, experiences, dinner at a Michelin three-star restaurant in Paris.
We’ve put together this guide to show you seven reasons why you should apply for travel loans with Safrock today.
1. You won’t have to patiently wait for your savings account to grow.
According to MoneySmart, on average Australians save $77 per week for overseas travel. If you do the maths, this means that the average Aussie spends around $4,000 a year on holidays. While this amount might be feasible if you’re only making short local trips, it won’t help you to take that Mediterranean island hopping trip you’ve been dreaming of.
Finder found that collectively, Australians spend 7.6 million hours each week researching cheap flights and accommodation deals. So we obviously love to travel! Therefore taking out a loan for a holiday or trip is becoming increasingly common. In 2018, Aussies borrowed $826 million in personal loans for travel and holidays. It makes sense that so many of us turn to finance products to help us achieve our dreams.
At Safrock, we can help you find the best holiday travel loan that won’t send you into a scary spiral of repayments.
2. Students should travel too!
Travel shouldn’t just be reserved for the wealthier, older generations. Some of the best travel experiences happen in your younger years! Overseas travel can open your eyes to the world and its possibilities too. That’s why it’s something that everyone should have the chance to experience for themselves.
Let’s be real, #studentlife can be pretty tricky to navigate. Not only can it get expensive and difficult to pay your bills and keep up with your friends at the pub, but sometimes you just really need a break. Only being able to work casually or part-time means that most students forego their dream of travel. The reality is, they need to keep paying outrageous rent for their student accommodation.
All this aside, there’s really no better time in your life to travel and see the world. Your semester breaks are long and you are craving fun, adventure and new friends. At Safrock we can help find travel loans for students too. As long as you can provide us with the following information, we could help you find the perfect lender:
- Internet banking details
- myGov account details
- Contact information
- Employment information
- As our loans are secured, we’ll also need information about your asset (this could be your car, motorbike, caravan or boat)
While travel is overwhelmingly tempting, it’s only recommended that you apply for a loan if you are sure that you can afford it. Do some groundwork first, paying close attention to your incomings, outgoings and overall budget. A trip of a lifetime should not plunge you into a lifetime of debt!
3. Why not get the whole package?
Taking out a travel loan for a holiday package is another great way to use vacation loans. Holiday packages are often great value as you organise and pay for transport, accommodation, activities and outings all in one go. These are convenient options if you are wanting bang for your buck and for your time. A package could really help you maximise your travel experience.
Packages are usually available for organised or group tours, cruises, and most commonly for flights and accommodation deals. As with anything advertised online, there are some package deals that really are too good to be true and don’t wind up saving you any money at all (in fact, they’re quite costly). But if you do your research, there are plenty of package deals out there that can save you hundreds, if not thousands of dollars on your next holiday.
As package deals cover a multitude of travel expenses, the bottom line on the deals themselves can seem pretty pricey. Just keep in mind though that all of the organising, researching and booking has already been done for you! Winning!
4. It could help you in an emergency.
Have you factored emergency funds into your holiday budget? According to Finder, 1,700 Aussie travellers were hospitalised while overseas between 2016 and 2017. Lost, stolen or damaged goods and luggage also ranked highly as problems that we face internationally.
While you cannot discount the importance of quality travel insurance, it’s also a good idea to have a dedicated amount of emergency funds in your budget just in case. If your flights are delayed and your insurer won’t cover the extra expenses you incur, or you run out of medication and need to find a specialist chemist, your travel loan could become an emergency travel loan.
What about spending money? This can be hard to budget for, especially if you are going somewhere completely new and are unsure how much daily living expenses are there. Lonely Planet gives pretty sound advice regarding this, and will often even give you a per day estimate for spending money. But after you’ve paid for flights, your accommodation and have planned out where you’re going to eat most nights (the best part of travelling, right?) well, there’s really not much left over. Especially when you’ve promised to bring back souvenirs! A travel money loan could also help you with this budgeting issue.
5. We consider travel loans for bad credit.
We’ve all made mistakes in our past, though unfortunately sometimes these mistakes can seem more hurtful than others. If your credit score reflects some of your past regrets, we don’t think this should necessarily stop you from travelling either.
As we only offer a secured personal loan comparison service and refer you to a lender, we do not conduct credit checks. However, the lender you choose may. This doesn’t necessarily mean that your application will be denied; many lenders really just need proof that you can afford to keep up with your repayments. There is a chance that you could be approved for a loan even with bad credit.
|Good choices for your credit||Bad choices for your credit|
Taking out a personal loan also won’t automatically make your credit worse. Your credit report reflects amounts, payment history, balances and number of debts. Regardless of the type of credit or loan though, a missed payment is a missed payment. Work out a budget that suits you and make any and all payments on time!
6. The application process is easy.
At Safrock we are specialists in finding you the best travel loans deals going around. Our lender-finding service is comparison based, which means we provide you with the key loan information so you can compare your options and make an informed decision. When looking at travel loans, vacation loan rates should be at the top of your checklist. No matter the loan amount, you don’t want to be making travel loan repayments long after your trip has ended. A lower interest rate is going to make for an affordable lending experience.
Just click “Apply Now” from any page on our website to start viewing your options. Our application process is so simple that you could be done within just a few minutes.
Step 1: Apply Online
Our application form should only take you a few minutes if you have all necessary documentation and information ready. Then, just choose your loan amount and duration and we will get to work!
Step 2: Meet your Match
After we’ve received your application, our team gets to work to present you with a comparison of loans straight away. Once you choose the lender you like, we pass on your details to them.
Step 3: Find a Premium Loan
Your chosen lender will then perform their own assessment. Processing times vary depending on the individual lender, though if you’re approved you could receive the cash straight into your bank account soon after!
7. We are 100% online.
As everything we do at Safrock is done online, it is fast and convenient for you to access the information you need right from the couch. It also means that you can apply any day, any time. Though, it is more likely that you will receive a speedy response to your application or enquiry if you apply during regular business hours.
If you’re still unsure about applying with Safrock, it is quick and easy to contact our loan specialists through filling out our contact form. Being an online service does mean that you are not able to ring and apply over the phone, but we are ready and waiting to reply to any questions you may have about taking out travel loans through one of Safrock’s partner lenders.
But do you really need a travel loan?
We may have made travel loans seem easy to reach for when you’re desperate for a trip. But it’s undeniable that it’s still a form of debt, and you should really only apply if you are sure you can afford it.
The easiest way to be sure is to forecast your finances, and no you don’t need to be an excel whiz to do this. Subtract all of your current weekly expenses from your incoming salary and determine just how much you actually have ‘spare.’ Out of this ‘spare’ money, if you’re not already saving some for yourself, do it! This is obviously the best way to avoid needing to apply for financial products in the future. If you’re already doing this but it doesn’t seem to be getting anywhere, have a look at the ‘loan costs’ section on our website. This is a good indicator for how much a loan might cost you in interest, fees and charges, and what your weekly instalments could be.
It’s also a good idea to talk to someone you trust about any financial decisions you plan on making. Even if it’s just a parent or friendly neighbour. Outside opinions and advice can often help us to see our situation from a different perspective and may cause us to reconsider or at least put off making any rash decisions.
What are you waiting for?
If you are ready and raring to head off on your next adventure, travel loans with Safrock could be a smart move. Just click “Apply Now” from any page on our website to get started, and we’ll be with you every step of the way. Au revoir!