How much could apps like Afterpay benefit your life? If you’re ready to buy that much-awaited pair of jeans, pay for a needed holiday, or replace the lounge suite Fido damaged on the weekend but don’t have access to funds to do so, what can you do? Apps like Afterpay in Australia have been helping everyday Aussies get the goods they need now and pay for them later. Afterpay is an app-based buy now, pay later service, allowing consumers to shop for what they want and delay payments.
Of course, apps like Afterpay Australiaaren’t the ideal solution for everyone; finding loans similar to Afterpay like apps is the best solution for those people. Below, we cover what apps like Afterpay Australia are, the viable alternatives, the pros, cons, features, eligibility criteria, and the four simple steps to apply.
What Are Apps Like Afterpay Australia?
Payment apps like Afterpay are systems for Australians to get items they want now and pay for them in several set instalments – this usually runs over four instalments. There is no money provided to the consumer whatsoever. Instead, the deal exists between the store and the buy-now-pay-later provider. No cash advance is provided to the consumer, so you cannot purchase at more than one store per application. Consumers usually make their first instalment payment immediately after taking possession of the item.
On the contrary, when you opt for a cash advance loan as an alternative to Afterpay Australia, you will get cash paid into your bank account to spend how you wish. You can shop at multiple stores and won’t have to make your first instalment payment until your next payday. Also, loans as an alternative to Afterpay usually come in higher amounts than you would be allowed to acquire via Afterpay. All first-time Afterpay clients start with a limit of $600.
How Does a Loan Alternative to Afterpay Australia Work?
If you’re opting for an Afterpay alternative Australia in the form of a cash advance loan, you’re putting yourself in a position to get the cash you want in hand to spend as you wish. The repayment terms are better spaced apart and you can afford to buy items from several stores. You can set such a loan in place by using our quick online application form. Simply input your personal details, which is done very similarly to other apps like Afterpay.
If a lender can assist you, you will be advised in a short space of time and given the opportunity to complete the loan setup directly with the lender. Interest will be added according to the amount borrowed. If your loan is up to $2000, there will be no interest charged (but rather a 20% establishment fee and 4% monthly service charge) but if your loan is above $2001, interest of up to 48% can apply. The total amount is split between the months you’ve applied for and paid over in set instalments.
Types of Loan Alternatives to Afterpay
When you opt for an Afterpay alternative Australia, you’re given access to a variety of loan types to choose from, according to your needs. These are:
Afterpay Alternative Australia for Bad Credit Borrowers
If you have poor credit, you may be worried that you won’t be able to get a payday loan, or at best, the amount you can borrow will be limited. This is where the payday loans at Cash Funds as an alternative to Afterpay are useful. While lenders still find credit checks important, they’re often willing to provide funds to low credit borrowers. You can take out a loan of between $300 and $10,000 with 3 to 24 months to repay with low credit.
Unsecured Loans as an Alternative to Afterpay
Loans are an excellent alternative to Afterpay Australia. These loans don’t require any collateral or co-signatory. Unsecured loans of up to $2000 have zero interest attached, as Australian law doesn’t allow interest but loans of higher amounts come with up to 48% interest. You can get unsecured loans as an alternative to Afterpay of between $300 and $10,000 with 3 to 24 months to pay.
Unemployed Loans – Apps Like Afterpay Australia Alternative
If you’re not traditionally employed, you won’t be able to use Afterpay and other apps like Afterpay. However, if you earn some income, but you don’t have a regular job, you can still get a cash loan from Cash Funds if you meet the criteria. If you can prove that you have been earning at least $350 per week for more than 3 months, you can qualify for a short-term loan that serves as an exceptional alternative to Afterpay. These loans can range from $300 to $10,000, with 3 to 24 months to pay, depending on the amount of money borrowed. When you apply for such a loan and it is approved, the cash will be paid over, whereas there is no cash handed over when using Afterpay.
Afterpay Alternative Australia – Cash Advances for Centrelink Recipients
You may not be able to use Afterpay like apps if you’re a Centrelink recipient. These apps usually require an applicant to be employed and earn a certain amount each month. That doesn’t mean you’re out of options when it comes to funding. It simply means that you need to find an alternative to Afterpay Australia. And that’s what you will find at Cash Funds. While we work quite differently from payment apps like Afterpay, we can provide you with funding even if you’re a Centrelink recipient. You must earn $350 per week, and Centrelink cannot make up more than 50% of that.
Features of Alternative to Afterpay Loans
If you’re using a cash advance loan as an alternative to Afterpay, you will find that these loans share similar features:
More Flexible Loan Amounts Than Afterpay Like Apps
While you cannot apply for a lump sum when using apps like Klarna and Afterpay, you certainly can when applying for a cash advance from Cash Funds. Loan amounts are flexible from $300 to $10,000 with 3 to 24 months to pay. Most Afterpay like apps have a limit on the first use of a client – usually $600.
Better Terms Than Payment Apps Like Afterpay
When using apps like Klarna and Afterpay, the total amount of the item you wish to buy is split between several payments (usually four). These terms aren’t ideal if you are paying a high amount. When opting for alternative loans available at Cash Funds, the repayment terms range from 3 to 24 months, depending on the loan amount.
Lenders offering Loans Similar to Access Your Pay Early
Reputable lenders provide the loans on offer at Cash Funds. By using a loan-finder such as Cash Funds, borrowers can access loans on offer from responsible, ethical and transparent lenders.
Fees Similar to Payment Apps Like Afterpay
When requesting a cash advance from Cash Funds, there is no interest on loans of up to $2000 and 48% interest on loans above $2000.
Better Repayment Schedule Than Apps Like Afterpay Australia
The repayment schedule when using Afterpay and other apps like Afterpay is usually split into four equal payments due every two weeks. For some, this simply isn’t ideal as they earn their income monthly. It must be noted that the alternative loans available at Cash Funds offer monthly instalments of equal amounts over 3 to 24 months. However, borrowers are welcome to set up repayment schedules that best suit their financial situation, so payments can be collected weekly, fortnightly, or monthly.
Advantages and Disadvantages of Alternatives to Afterpay
Advantages of Getting a Loan Alternative to Afterpay Australia
Quick Loan Application Processing
The online application for loans via Cash Funds is super quick and easy to set in place. The entire process should take only a few minutes.
60-minute Payout on an Alternative to Afterpay
If you’re opting for a loan as an alternative to Afterpay, you will be surprised at how quickly they’re paid out when approved. Most borrowers don’t wait longer than 60 minutes.
Flexible Loan Terms for Alternatives to Afterpay Australia
Loan terms range from 3 to 24 months, unlike Afterpay terms, which are 4 instalments set for every two weeks.
Get a $2000 Afterpay Alternative Australia with 0% Interest
Australian law dictates that loans of up to $2000 come with zero interest but can incur a once-off 20% establishment fee and a 4% monthly service fee.
Disadvantages of Loans Via Payment Apps Like Afterpay
Expensive
Interest can go as high as 48% on Cash Funds loans.
Eligibility Criteria for Apps Like Afterpay Alternative Loans
To qualify for a cash advance loan with Cash Funds, you must meet the following eligibility criteria:
- 18 years + to apply
- Minimum earnings of $350 per week
- Legal residents and citizens of Australia only
- Affordability assessment applies
Application Process for Alternative to Afterpay Loans
To get access to payday loans that are viable alternatives to payment apps like Afterpay, you need to follow four basic steps:
Step 1: Choose Your Loan Amount & Term
Using the sliders and menus, select how much you need to loan and how long you require to pay it off. Loans range from $300 to $10,000 with 3 to 24 months to pay.
Step 2: Input Your Personal Data in the Online Application Form
Simply provide your full name, address, banking details, employment information and a list of your monthly expenses that currently come off your bank account.
Step 3: Wait Two Minutes for Feedback & Decide if You’ll Go Ahead
Once you have submitted your application form, you will be given two minutes before receiving feedback. If a lender can assist, you can decide if you wish to go ahead. If you do, you will be transferred to the lender to finalise the loan agreement.
Step 4: Sign Your Loan Agreement & Get Your Money
If you wish to go ahead with the loan instead of making use of apps like Afterpay, you will be transferred to the lender to complete the process. The lender will send you a loan agreement to consider. Read through it. Make sure that you understand the terms and then sign it before sending it back to the lender. Once the loan contract is received and checked, the cash will be transferred into your bank account.
FAQs
What is Similar to Afterpay and Klarna in Australia?
If you’re looking for the best apps like Klarna and Afterpay, you will find that there are several options out there. Payment apps like Afterpay only offer a few weeks to complete paying for the item you have purchased. If you want to use similar apps like Afterpay with longer loan terms and more flexibility when it comes to loan amounts, using a loan-finder such as Cash Funds is the answer.
What is Better Than Buy Now Pay Later Apps Like Afterpay?
While Afterpay has its benefits for consumers, it’s not always ideal for consumers. For instance, the 4 instalments offered by Afterpay and similar apps like Afterpay don’t span over 4 months. They usually span 4 to 6 weeks! If you only get paid monthly high quality replica watches, this could be a problem. If you want something better, you could opt for cash advance loans of between $300 and $10,000 at Cash Funds, which can be paid off over 3 to 24 months.
What Apps Let You Pay in Instalments?
If you want to buy something now but want to pay it off in instalments, you could apply for a store account. However, the credit extended is not cash-in-hand and can only be used at that store. You will also find that there is a limit to how much you can spend. If you’re looking for a way to pay off things in instalments, consider the cash advance loans made available through Cash Funds. Here you can buy anything you want in Australia and pay back the amount in set monthly instalments.
Can Centrelink Recipients Get Alternative Loans to Apps Like Afterpay?
If Centrelink benefits are your only form of income, you may struggle to get any credit at all, even with Afterpay. You can, however, apply for a loan with Cash Funds if your current earnings are $350 per month and Centrelink forms no more than half of your monthly income.
Are There Apps Like Afterpay No Credit Check?
Even apps like Afterpay require a credit check because, according to Australian lending regulations, lenders must carry out credit checks on all applicants. That said, if you apply for a cash advance via Cash Funds, you can get a loan approved even if you have less than perfect credit.