Looking to save some money? Feeling weighed down by multiple repayments? Losing track of what is due and when? A small debt consolidation loan can help streamline your debt into one manageable repayment — saving you time, money, and stress!
Take control of your finances today and apply online for a quick and easy debt consolidation loan with Swoosh for up to $5,000.
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What is a debt consolidation loan?
A debt consolidation loan is a type of personal loan that allows you to combine multiple debts into one single loan. Whether you have multiple credit cards or a combination of personal loans, merging your debts can save you both time and money.
Swoosh offers secured debt consolidation loans from $2100-$5000. Our loans are secured by your car (or another vehicle) and are paid off over 12 months.
How do debt consolidation loans work?
At Swoosh, our quick and easy debt consolidation loans are designed for simplicity so you can get on top of your finances, avoid missed payments, and potentially save on interest. Consolidate your debt in 3 steps:
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Complete our online loan application in just minutes.
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We review your bad credit loan instantly.
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Electronically sign the contract and the money will be deposited directly into your bank account the same day!*
Apply online today
Flexible repayment options
Payments can be made:
- Weekly
- Fortnightly
- Monthly
Rates and fees
Swoosh Finance is all about simple, easy finance. That’s why we’re upfront about our rates and fees. You know what you are dealing with before you make any decisions.
Interest is calculated daily, based on the outstanding balance, and is applied monthly to your account. Our debt consolidation loans have fixed interest rates, so you know exactly how much you’ll be paying for the entire loan term.
If a scheduled payment is returned unpaid, we may issue a $40.00 debit dishonour fee. This fee is not subject to interest, though you’ll continue to pay the usual interest charges as described.
| Loan amount | $2,100 – $5,000 |
| Fees: |
|
| Annual Interest | 48% |
| Term length | 12 Months |
|
Debit dishonour fee (if a scheduled payment is returned unpaid) | $40 debit dishonour fee may be issued if a scheduled payment is missed or returned unpaid |
| Repayment options | Weekly, fortnightly or monthly (based on your paydays) |
Keep in mind that you may incur additional fees each time you miss a payment. As a result, this may also affect the length of your loan.
How to get a debt consolidation loan?
Applying with Swoosh is 100% online, paperless, and hassle-free. To apply for a debt consolidation loan all you need to do is meet our 4 eligibility requirements:
- Be at least 18 years old
- New Zealand permanent resident
- At least 3 months of regular income*
- Own a vehicle registered in your name**
*Minimum of $350 per week
**Vehicle will be used as security for the loan
Check eligibility
Are debt consolidation loans a good idea?
Whether a debt consolidation loan is a good idea will depend on your individual circumstances. But a debt consolidation loan can help to make your debt more manageable by combining multiple payments into one simple repayment. With just one loan to focus on, you’ll have better control over your finances – and you could even save money by paying a single interest rate instead of several. It’s important to keep in mind that in some cases, you may end up paying more on interest.
Find out more: Is debt consolidation worth it?
Debt consolidation loans FAQs
Yes! At Swoosh, we look at more than just your credit score. Whether you have bad credit or no credit, if you meet our eligibility criteria, you could still qualify for a secured loan! Our eligibility criteria include:
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- At least 18 years old
- New Zealand permanent resident
- Earning a minimum of $350/week
- Own a vehicle registered in your name (the vehicle will be used as security for the loan)
When applying for a loan, lenders like Swoosh typically conduct a credit check known as a hard enquiry, which can temporarily lower your credit score. However, consolidating your debts and consistently making on-time repayments can help strengthen your credit score over time if lenders report that information to the credit bureau.
It’s easier than you think! Just submit an online application and we’ll respond in no time. As long as you meet our simple eligibility and lending criteria, you’re good to go!
At Swoosh, we offer fast debt consolidation loans from $2100-$5000 with flexible repayment options of weekly, fortnightly, or monthly instalments. Apply online today and we’ll help you take control of your financial future!
