Australian Car Loans Info News

Wed, 2 May 2007
Interest rates on hold: reprieve for homeowners
In a boon for the nation's mortgage belt, the Reserve Bank decided at its quarterly meeting on May 1 to leave the official cash rate unchanged at 6.25 per cent. The Reserve Bank's decision followed the publication of a much lower than expected March-quarter consumer price index, which showed inflation rose just 0.1 per cent for the quarter and 2.4 per cent for the year. This was well within the Reserve Bank’s target of 2-3 per cent. In a rare show of consensus, many economic forecasters are now predicting a further easing in inflation and most believe interest rates will stay on hold for the rest of 2007, particularly given the impending federal elections.

Tue, 04 September 2007
Economic boom continues at pace
Australia's economy grew faster than expected last quarter thanks to a boom in business and government investment, reviving speculation that interest rates will have to rise yet further to curb inflation. Australia's Gross Domestic Product (GDP) expanded at a 0.9 per cent pace in the April-June period, compared with 1.6 per cent in the previous three months. Compared with a year earlier, the economy grew 4.3 per cent. The Reserve Bank of Australia (RBA) holds its September policy meeting today but is widely expected to keep rates unchanged, having only raised them to a decade high of 6.5 percent last month.

Tue, 04 September 2007
Banks yet to find takers for $10b loan
SIX weeks after a consortium of three banks trumpeted they were financing the nation's biggest ever takeover, they have yet to syndicate the loans to other lenders. But the three banks involved in the exercise - ANZ Banking Group, National Australia Bank and BNP Paribas - claim the recent credit market meltdown should not adversely affect the exercise. The $10 billion loan is the largest single corporate financing ever undertaken on the Australian loan market. It includes a $2 billion bridging facility which was used to fund the purchase of an 11 per cent stake in Coles at $16.47 a share.

Tue, 04 September 2007
NRMA pumps wrong arguments
If NSW motorist organisation NRMA had its completely ignorant way, its members - and all motorists right around the country - would be paying more for their petrol all the time. In its non-wisdom, the NRMA wants the ACCC to be given increased powers to monitor oil companies. That's the first step to fixing the price of petrol at the pump. Setting not what the NRMA jointly with the average motorist thinks they would get -- a maximum price. But a minimum price.

Thu, 18 October 2007
Geneva Finance in default
Geneva Finance on Monday defaulted on the redemption of debenture payments due on Monday and is now seeking a “moratorium” on further payments.

Mon, 07 January 2008
Private Sector lending rates on the incline
Predictions of another interest rate rise in February were sparked by a surprise jump in private sector borrowing

Business debt has driven private sector credit to its strongest level in five months despite two interest rate rises and worries about global credit conditions.

Although, higher rates appear to have slowed down compared with the first half of 2007.



Sun, 25 May 2008
Consumer credit demand slowing
Australia’s overall demand for credit slowed in the first quarter of calendar year 2008, according to risk information provider Veda Advantage.

It found credit card and personal loan enquiries were down 0.2 per cent for the quarter, compared to the same period last year.

Personal loan enquiries were down by 2.3 per cent compared year-on-year with 2007, while credit card enquiries rose by 1.5 per cent.

Veda also found families are spending a significant amount of their income on debt repayments, with 1.3 million Australians spending more than half their gross household incomes on debt, and 1.8 million Australians spending more than 40 per cent of their income on repayments.

Thirty-one per cent of Australians live in households that spend 30 per cent of their income on debt repayments.

Analysis of the data also revealed exposure to debt increases with income levels.

While 18 per cent of Australians with a gross household income of less than $40,000 spent 35 per cent or more of their income on debt, this proportion rises to 21 per cent of Australians with household incomes between $40,000 and $70,000, while 27 per cent of Australian households earning a household income of more than $90,000 are currently spending 35 per cent or more of their income repaying debt.

SOURCE: Liam Egan, Money Management

Thu, 30 October 2008
Remember to lock and cover
GIO spokesman Rob Whelan says GIO's Classic home and contents policy covers only items stolen from a car if the car is parked in the customer's garage or driveway. If the customer wants to extend the cover to personal items stolen anywhere in Australia or New Zealand, an extra "portable cover" cost is payable.

The limit is $1000 an item and $4000 a claim. Whelan estimates the cost of a $4000 portable-cover option is about $100 (on top of the house and contents policy cost), although this may vary.

Higher-value items can be listed individually and covered for full replacement cost - again for an extra premium, which Whelan says varies depending on the item and the policy.

Alternatively, GIO's top-of-the-range Platinum home and contents insurance includes automatic cover for contents stolen in Australia or New Zealand.

GIO's comprehensive motor vehicle policy includes cover for personal items stolen from your car but only up to $500 in total, with a limit of $150 an item.

At Allianz, the protection is similar to GIO's. Customers have a "personal effects" option with their contents insurance that covers items stolen anywhere in Australia (plus a $100 excess).

Allianz spokesman Nicholas Scofield says the cost of this option is $149.88. At the lower end, a maximum of $1000 a claim and $500 an item attracts a premium of $57.55.

"Specified personal effects" offers cover for items such as laptops and musical instruments up to a specified amount.

Under Allianz's motor vehicle insurance, personal effects stolen from a locked car are covered up to $500.



Tue, 11 November 2008
High-net-worth clients want control
Australian high-net-worth clients want to retain a fair degree of control over both their wealth and the manner in which it is invested, according to new research released this week by Brisbane-based firm Goodman Private Wealth Advisers...

Tue, 18 November 2008
Bleak Friday
AMP Financial Services will cut around 200 jobs across its business, joining groups including ANZ and the new St George/Westpac entity, which are also expected to announce significant redundancies in the lead up to Christmas...

BOOKMARK THIS WEBSITE
To add Australian Car Loans Info to your favourites, simply click here.

|  home  |  news  | links  |