Premium Finance. Anybody know about these guys?

put your facts up front and  answer this question
Did you accpet or reject the offer to visit Premium finance and see the operation??
yes or no?
then if No how can you comment and hide behind this forum..?
whats so hard
something to hide  haven't

Triumph95

Why u r so upset about it??
Should it be exposed to Current Affair or big publication in sydney morning herald or the Age??
Such a ridiculous comment

I luv to hear from everyone comments again.
Rudra….Have you heard about Storm Financial services recently??
might be Premium finance is next ???

Hello all.
I found this forum after doing a google search on Premium Financial.
My wife and have just had a meeting at home with one of their salesmen, after finally getting tired of their constant phone calls, and have been offered a trip to their Brisbane office for a " financial health check", as they call it. We were told the cost would be $197 for 2 return flights from Townsville to Brisbane, plus accomodation in Brisbane, which I find very reasonable. 
We were never told about a $5000 dollar fee to sign up for their services. I suppose they will drop that on us after having all day to smooth us over. It is very good to have an advance warning of this. 
I told the salesman while he was here we hade been previously burnt by a so called " financial planner ' , who turned out to be nothing more than a salesman, working only to collect the best commision possible from building companys and mortgage suppliers. He even got us to switch banks, we switched back after a couple of years when we worked out out original bank could have been giving us a better deal all along.
I am in two minds about making the trip and spending a day with these people because it sounds like I may be heading down the same path again, only paying extra money up front, when I would be better off doing my own investigating and making my own decisions about investing.

Thank you QLDs007.
That may be all I need to make my decision. I do not like the thought of being stuck in the centre of Brissy and have to find my own way to the airport in time to catch a flight.
If these guys are as good as they say, I see no reason to have to go all the way down there to see them when I can give them all the information they need from here. They can send their salesman up, why not their financial team?

Thank you again QLDs007.

Hi Gus.
       I've just had a cold call from Premium Finance.

Went searching and found this site.
Thank for the posting about Premium Finance, now i am better informed.

Keep up the good work….G the Net wonderful.  

god_of_money, yes I have heard of Storm Financial Services but the difference between them and Premium is I'm not investing in Premium Finance. There is absolutely no investing done with Premium Finance, yes there is payment of $5000 which I paid AFTER my property purchase went through. The $5000 was money well spent in my books as it made the process easier and as it is a once off payment and allows me to go back to them in the future at no cost. I plan on utilising them again this year when I purchase my second investment property.

Hi god_of_money,

Thanks and I believe I have made the right decision for me.

Yes I understand both Premium and Storm charged fees, however this doesn’t make them the same.

As I mentioned on another post in another topic, we got an independent valuation done before we purchased the property and it the value was higher than what we paid for it. We know what happened with West Point and this made us aware of companies such as this and as such we did the necessary checking before going into something like this.

Yes they both said that property and shares respectively would rise in value, however I think you will find the shares are more volatile than property and this isn’t something Premium told us, it is something we discovered from our own research before deciding to invest in property. Property values are going to decrease in this economic climate and we’re prepared for that to happen, however it should be noted that different areas will experience different fall levels. Where I currently live is the area in which we purchased and we have seen first hand how property prices have been affected by this economic downturn. Prices in our area have barely dropped if anything at all where as the closer we look towards the city we have seen massive drops in prices.

When I went to Premium Finance I didn’t go in blindly not knowing anything about property or the market, I had done my research for well over a year in the area I live in knowing that my first property would be in that area. I would like to thank everyone for their opinions and advice though, it’s always good to hear what other like minded people think.