Christmas Loans
Borrow money for Xmas and consolidate existing debt
Kiwis love celebrating Christmas with their loved ones, but rising costs can put a strain on their finances.
There’s a lot to spend money on over the holidays, and keeping up with debt repayments often gets put on the back burner.
Over 450,000 New Zealanders are behind on their credit payments, according to latest data from Centrix.
Centrix’s Managing Director, Keith McLaughlin, says this is up 3.5% from last year.
“We expect arrears to rise over the summer period, in-line with forthcoming festive spending and wider seasonal trends.”
It really does cost more to celebrate Christmas
There’s no doubt about it – Christmas costs have increased dramatically in recent years.
Buying gifts, hosting parties, and attending events can overwhelm and strain people financially.
According to one survey, households spend an average of $1500 during the festive season.
The classic tradition of celebrating with food has gotten more expensive for families. While food prices aren’t increasing as much as they were, the cost of food was still 18% higher in July 2024 than in 2023.
With the holidays being so expensive, the demand for credit rose by 8% before Christmas in 2023, with many using credit cards and buy-now-pay-later options.
As unemployment rises and more people struggle to make ends meet, this trend is likely to continue.
Additionally, many businesses close over Christmas and New Year, leaving new employees without income.
After Christmas, parents also face significant back-to-school expenses, especially if their children are starting a new school.
Reduce the amount you repay on your debt
With Christmas being so expensive, it’s no wonder households don’t have much left over to cover loan payments or bills.
The thing is, don’t let these slip away from you. You can harm your credit score if you miss a few payments and fall behind.
One alternative could be a debt consolidation loan from Loan Direct. This is where we take your existing loans and combine them into a new loan at a lower interest rate.
Some of our clients save hundreds of dollars each week this way. It’s so easy – you simply apply using our quick 2-minute online application form, and we’ll do the rest.
Within 1-2 hours*, we’ll get back to you with some options and you can choose the one that suits you best.
*Subject to responsible lending checks and criteria
How do we do it?
As a loan broker, we shop your loan application around to multiple low-cost lenders so you get the best deal.
Having more lenders gives you more chances of getting approved!
We can likely help you save money on your loan repayments with rates starting at just 9.95%.
Our goal is to make your repayments affordable. That’s why we can spread your payments out over a longer period of time – up to 7 years! – to make sure you’ll still have money left over.
Our goal at Loan Direct is to help our customers succeed, so we make getting on top of their finances super easy.
Find out how we can help you, too, by getting in touch with our friendly team!
