Welcome to the Muscle Money FAQs page, where we aim to demystify the complex world of finance. From car loans to equipment loans, from commercial low doc loans to recreational vehicle finance, we’ve got the answers you’ve been looking for.
Did you know that more than a quarter of Australian adults have low financial literacy? The good news is you don’t need to be one of them. You can empower yourself to make informed decisions about your next finance application. Explore the comprehensive Muscle Money FAQ section today and take the first step towards greater financial confidence.
Whether you’re navigating car loans or seeking tips on how to secure competitive low doc commercial loans, the Muscle Money FAQs can provide expert insights designed to get you started on your financial journey.
Discover answers to Muscle Money frequently asked questions regarding loan terms, application processes and more. You’ll also find answers to common questions about how Muscle Money operates and discover why we’re the ideal choice for a wide range of finance solutions.
Muscle Money is a leading online finance platform that offers access to a range of loan solutions tailored to your needs. We combine state-of-the-art online tools with a dedicated team of expert brokers who share over 30 years of industry experience.
With Muscle Money, you’ll have access to a simple online application process that can be accessed at any time and from anywhere. But if you have any questions or require further assistance, our brokers are on hand to take your call. We aim to provide a seamless and personalised finance experience for a wide range of borrower needs.
The amount you can borrow will generally depend on your specific financial profile. This includes your income, expenses, existing debt levels, credit score, employment history and the size of your deposit. High levels of existing debt or a low credit score may reduce your borrowing capacity, while stable employment or applying for a secured loan may allow you to borrow more.
When you apply with Muscle Money, our state-of-the-art platform and talented brokers will assess your financial situation to determine the most suitable loan amount for you. This will be based on your personal circumstances and financial requirements.
With Muscle Money, you can apply online and then receive a loan pre-approval in less than 24 hours. Depending on the type of loan you’re applying for and the documentation required, the entire loan process can be completed in as little as 2-3 business days.
A secured loan is a type of loan where an asset (like a car, piece of equipment or property) is used as collateral. This collateral acts as security for the lender, reducing their risk. If you were to default on a secured loan, the lender would have the right to seize the asset so that they can recover the balance owing on the loan.
Because they are a lower-risk finance product, secured loans may offer lower interest rates and higher borrowing limits compared to unsecured loans. They are most commonly used for large financial purchases, such as properties, vehicles or commercial equipment.
Absolutely! We understand that many people today are juggling busy schedules and don’t have a lot of time for scheduled appointments during office hours. That’s why our digital platform is designed for a seamless and secure online application experience. You’ll be able to apply for a loan online at any time of the day or night, whether you’re at home, at work or even in line at the supermarket!
However, this doesn’t mean you can’t talk to a human being when you have a question or want some free expert advice. If you prefer a personal touch, our expert brokers are always available to assist you throughout the entire loan application process.
A secured personal loan requires collateral, such as a car or property, which can be claimed by the lender if the loan is not repaid. In contrast, an unsecured personal loan doesn’t require any form of collateral or security. As a result, unsecured loans may have higher interest rates because of the increased risk to the lender.
Your data security is our top priority. We employ advanced encryption and security measures to ensure that your personal and financial information remains confidential and protected throughout the entire loan application process.
While a good credit score can increase your chances of loan approval, we work with a range of lenders who consider various factors beyond just your credit score. If you’re worried about your credit history, we recommend discussing your situation with one of our brokers to explore the best options for your financial situation.
Traditionally, finance brokers required in-person visits during office hours, while online lenders completely removed all human interaction. The difference with Muscle Money is that we offer the best of both worlds.
We combine the convenience of online tools with the expertise of seasoned brokers. Our platform offers real-time feedback, a wide range of loan options and unwavering data security. Plus, our commitment to understanding your individual needs sets us apart.
We work with over 40 different finance partners who offer a wide range of flexible loan terms. For most personal loans, car loans, equipment loans and recreational vehicle loans, terms can range from 1 to 7 years. Ultimately, the loan term will depend on the type of loan you’re applying for and your specific financial situation.
Keep in mind that a longer loan term will reduce monthly repayments but increase the total amount of interest you’ll pay over the life of the loan. Our brokers can work with you to determine the best loan term that balances affordable monthly payments with the overall cost of the loan.
To apply for a loan, you’ll typically need to provide photo ID (e.g., driver’s licence or passport), proof of income (e.g., payslips or tax returns), recent bank statements and details of any existing debts.
Specific documentation requirements may vary depending on the type of loan you’re applying for. If you’re unsure about whether you’ll be able to meet the minimum loan requirements, then why not talk to our friendly brokers about securing a low doc loan?
In addition to receiving real-time updates on your application, you can check on the status of your loan by logging in to the Muscle Money online portal. Our brokers are also available to provide updates and answer any queries you may have throughout the application and approval process.
If you’d like the option of repaying your loan early, make sure you discuss this with one of our brokers before finalising your application. While most loans can be repaid early, some lenders will charge penalties or early repayment fees.
Our brokers can help you understand the implications of repaying your loan early so you can make an informed decision about what’s best for your future financial goals.
Our brokers negotiate with a network of lenders to secure competitive interest rates for a wide range of loans. Ultimately, your interest rates will be based on the type of loan you’re applying for, the loan term, your credit score and your financial profile. The lower the perceived risk to the lender, the more likely they are to offer reduced interest rates.
To find out more about what kind of interest rates you may qualify for, contact the team at Muscle Money today.
There are some simple steps you can take to improve your eligibility for a loan. Start by trying to maintain a good credit score and paying down any existing debt (such as credit cards). Lenders also prefer it when borrowers have stable employment, so, if possible, try to wait until you’ve been at your current job for at least 3 months.
Another crucial part of gaining loan approval is providing the right documentation. For those who are self-employed, a low doc commercial loan may be the best option since these offer more flexible documentation requirements.
We can assist with a wide range of loan options. These include:
Whether you’re financing new equipment, a new vehicle or looking to consolidate debt, Muscle Money can help you find the perfect loan to suit your needs.
