| Author | Topic |
|---|
Location:
Camden, NSW
Registered:
June 2002
|
|
Perosnal/Car Loans
|
Thu, 24 June 2004 08:55
|
 |
Hey guys,
i know this isnt really the car forum to ask as noone ever seems to have money  jks
For those with loans, who is it with, whats the intrest like, how much (just an approximate) and what are the repayments like for you (hard, easy, 400, 500, 600 a month etc)
Its just im shopping around for a loan and just wanted some ideas of where to try
THanks guys
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:02
|
|
to pay for my conversion i got a 5 grand loan and put about 5 out of my own pocket and a further 2 out of my pocket for respray
I earn 400 after tax a week which is shit but my mates mum got me the loan over 5 yrs.. which equates to 26 dollars a week.. you barely even realise ur repaying a loan!
was with bendigo bank aswell
what sum you looking at borrowing?
|
|
|
Location:
Camden, NSW
Registered:
June 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:07
|
|
looking at buying an s15 silvia/200sx.
im looking at borrowing around 20-25g but i only earn 400 a week  hence y i wanna know if people on higher incomes struggle?. Im a 2nd year apprentice by the time i would get tha car (end of this year) and would be earning more than 400 but so far repayments look to be around the 120 - 150 a week mark, which i feel i can repay as i dont spend much money as it is
|
|
|
Location:
Baulko Hillo
Registered:
April 2004
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:11
|
|
Well, I work for CBA so of course I'm gonna plug their loans 
Depands on your credit rating etc, but you can possibly borrow $10,000 over 1-7 years. Repayments depend on current interest rate, but there are no early repayment fees or anything.
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:12
|
|
I can tell you right now.. your not gonna get it
earning too low
they wont see that u can afford 150 a week
they will say u need 300 bucks a week to live.. and 100 for saving and loan or something like that
the LEAST they will give to you on living expenses depending on bank is around 1000 a month
how old are you?
how much do you have saved?
how much of your income do you put away a week(avg or exact ammount that happens every week?)
and last of all.. shame for not getting a toyota
|
|
|
Location:
Baulko Hillo
Registered:
April 2004
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:16
|
|
But how old are you? What about insurance?
I would advise you against borrowing that much when that's what you earn (don't mean that to sound rude). They will look at things like your weekly earnings etc against their own average figures for expenses etc.
I'm not sure if they will even lend that much as a first loan (I'm assuming it is your first loan.)
Perhaps you could look into going through a finance company such as AGC as it will be secured against the car, so if things go bad and you cannot pay, they will just reposess it and recover their money via auctioning the vehicle.
Cheers,
Jeremy.
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:17
|
|
|
why get rid of a nice ma70 for one of them
|
|
|
Location:
Baulko Hillo
Registered:
April 2004
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:18
|
|
Oh yeah, forgot to mention that, you will need to have a few grand in your account and have a consistent transaction history blah blah blah........
Sorry dude, but I think you are pretty high risk from what I can gather for a bank etc to lend money to 
|
|
|
Location:
Brisbane, QLD
Registered:
February 2003
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:21
|
|
what i want to know is why you get about $400 a week on a first year apprenticeship yet i get just over $200 after tax 
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:27
|
|
put it this way
i was HIGH RISK
i only got it pushed through for 5 cause my mates mum who is a loans consultant pushed it through like all hell(it even said rejected and she changed it)
i was earning atleast 400 after tax.. sometimes more..
i had 3000 in my bank saving 300 a week
i had receipts for everything i spent about 6 grand on before that.
been in my job 2.5 yrs
had a letter from manager saying i was guaranteed 36 hrs a week..
|
|
|
Location:
Brisbane, QLD
Registered:
February 2003
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:29
|
|
really?
a friend of mine got a $6000 personal loan(maybe more) over 5 years, he was earning $300ish before tax, casual job(his only job that he'd had for 2 years)
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:51
|
|
|
how long ago was that?.. they have seemed to get alot stricker lately
|
|
|
Location:
Camden, NSW
Registered:
June 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 09:53
|
|
ok...
1. I aint a mechanic, im in the printing game and olds own the company so better $$$
2. Got around 15k in the bank, maybe more pending sale of my car
3. Know a few bank managers quite weel + people who used to work high up in the bank
4. Job Security - Olds arent gonna fire me nor is my brother unless i go crazy n stuff everything up
5. Been working there for last 2.5 years
6. Only ever spend around 150 a week, can prove it with bank statements
7. im 20 but i dont care on insurance etc as it will be through company and i pay $2500 for my MA70 neway n they said they will just transfer the rate to the s15
ok, there, now what do you think, do i still have NO chance of getting a loan?
|
|
|
Location:
local to everywhere
Registered:
June 2004
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 12:14
|
|
If a bank won't help you.
Check out www.autoge.com.au they could be an alternative for you, yes interest rate would be higher then a bank, but that's how they make their money.
|
|
|
Location:
Baulko Hillo
Registered:
April 2004
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 12:19
|
|
Dude, if you know bank managers, I would talk to them and see what they can do for you on a more personal level.
From what you have listed, if you do this, I would say you actually have quite a good chance!
Good luck,
Jeremy.
|
|
|
Location:
Camden, NSW
Registered:
June 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 21:35
|
|
yeah thanks, i hope i get a good chance cos damn i want one
i was thinking bout the new supra but they are too heavy!!!!!
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 24 June 2004 23:44
|
|
you know your current supra is gonna be faster than a 200sx right?
plus its a hell of a lot more torquey
you sound pretty secure.. the onyl thing as i said will be your earnings
most banks rely on loan people not even in that bank(in one of their head offices or whatever) to do the loan things..
what bank are you with?
when i went ffor my loan i was told that you had to earnat least 700 a fortnight before they would even look at you!
will your parents go guarantor?
|
|
|
Location:
Camden, NSW
Registered:
June 2002
|
|
Re: Perosnal/Car Loans
|
Fri, 25 June 2004 13:59
|
|
It may be slower now, but the s15 will feel faster and when im done with it it will be faster, i want it more for a drift/street/circuit car.
Um yeah olds will go garantor i think, that should help me out a bit shouldnt it?
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Fri, 25 June 2004 23:54
|
|
|
depending on the bank, yes
|
|
|
Location:
Sydney
Registered:
January 2003
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Sat, 26 June 2004 11:44
|
|
|
oh yeah.. i had about 20k in assets
|
|
|
I supported Toymods
Location:
Epping, Sydney
Registered:
May 2002
|
|
Re: Perosnal/Car Loans
|
Sat, 26 June 2004 14:14
|
|
assets mean very little if the bank thinks you're not earning enough to pay back the loan - as much as people bitch about banks repossessing stuff, the last thing a bank really wants is a crapload of assets they have to try and sell off.
Having a high disposable income (minimal expenses) will help, but on $400 a week, any bank is going to ask osme pretty serious questions about a $20k loan, esp for a 20yo. Even with a guarantor, that could be challenging.
fwiw, I got my loan with teacher's credit union - cant remember the rates, but they have great redraw facilities, good interest rates, I think I'm paying back ~$100 a fortnight. (only a $8k loan tho - I hate being in debt)
|
|
|
Location:
South Australia
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Sun, 27 June 2004 06:30
|
|
I got $5000 over 5 years and I only earn about $260 per week after tax, pay 11.5% interest p.a....no early exit fee (can pay it off whenever i like), it's unsecured, I'm a full-time student/part time pizza maker (have been in that job for over 3 years) and I didn't have any trouble getting it at all.
Only had about $80 in my bank account and $6000 worth of car as my assets.
I of course have very low expenses (live with parents) so that can be a big help.
|
|
|
Location:
Brisbane
Registered:
November 2002
|
|
Re: Perosnal/Car Loans
|
Sun, 27 June 2004 11:11
|
|
Having gotten up to my arse in debt, I would strongly suggest that you deal with cash only, or at most a small personal loan like $5k just to finish off the purchase.
Remember that if you get secured finance you MUST have it comprehensively insured. In my line of work, I see people all the time signing contracts on finance, and contracts to buy cars - then not being able to afford insurance. You can have your car reposessed and you can also technically be bankrupted if you void the terms of your secured loan.
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Sun, 27 June 2004 13:20
|
|
|
thats why i went for unsecured personal loan
|
|
|
Location:
Brisbane
Registered:
November 2002
|
|
Re: Perosnal/Car Loans
|
Sun, 27 June 2004 13:38
|
|
Yep.
I would probably work on an unsecured loan of no more than $5k or (say) a third of your car's value, whichever is higher. Any more than that and it's getting a bit sketchy. Always keep yourself in a position where you can sell your car and end up well clear of the zero mark.
|
|
|
Location:
Melbourne
Registered:
November 2003
|
|
Re: Perosnal/Car Loans
|
Sun, 27 June 2004 16:48
|
|
A bit OT here, but:
1. thug_immortal, how much are you gonna sell your car for? Is it manual?
2. A MA70 is faster than a S15? Power to weight wise an S15 shits all over a MA70... Am I wrong? It seems insane that something that has 106kw per KG is quicker than something that has 142kw per KG. Am I wrong?
|
|
|
Location:
South Australia
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Mon, 28 June 2004 01:43
|
|
|
I hope that kW/tonne not kW/kg
|
|
|
Location:
Adelaide, SA
Registered:
May 2002
|
|
Re: Perosnal/Car Loans
|
Mon, 28 June 2004 04:08
|
|
| Shraka wrote on Mon, 28 June 2004 02:18 |
A bit OT here, but:
1. thug_immortal, how much are you gonna sell your car for? Is it manual?
2. A MA70 is faster than a S15? Power to weight wise an S15 shits all over a MA70... Am I wrong? It seems insane that something that has 106kw per KG is quicker than something that has 142kw per KG. Am I wrong?
|
Maybe a stock ma70 is slower than a stock s15, but thug_immortal's car looks a bit far from stock. Manufactuer's power figures, power-to-weight figures mean stuff all, it's the 0-100km/h and 0-400m times that are probably more important.
Still, when it's modified vs modified who knows??????
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Mon, 28 June 2004 04:52
|
|
he'll miss the torque
its 2 cyl up and 1000cc on the nissan
|
|
|
Location:
Brisbane
Registered:
November 2002
|
|
Re: Perosnal/Car Loans
|
Mon, 28 June 2004 12:54
|
|
A 200sx and an MA71 with the basic exhaust/boost filter should run similar times, the 200sx may be a touch faster. The MA71 will be a lot nicer around town though.
Stock the 200sx would piss all over an MA71.
|
|
|
Location:
Central Coast NSW
Registered:
March 2004
|
|
Re: Perosnal/Car Loans
|
Tue, 29 June 2004 06:35
|
|
Myself and 3 mates all got $12 000 loans at around the same time. I'm a 1st year electrician and get $380 a week. my loans set at 5 years and i only have to repay about $266 a month. When i got my loan i had only been working for 4 months. My advice would be at the Commonwealth. Thats who we all went through and had no probs at all. 
hope this helps
|
|
|
Location:
Camden, NSW
Registered:
June 2002
|
|
Re: Perosnal/Car Loans
|
Tue, 29 June 2004 06:49
|
|
Thanks for your imput guys, its really appreciated.
I have never raced the new 200sx in my car so i dont know how it would fare, i just hate the fact that the MA70 feels so heavy (cause it is!). Im looking to get a newer (less than 5yrs old) and dont want to sacrifice power. My budget is aroud 25-30k. I just like the look of the s15 and it doesnt take much to get them to haul ass, and get them kicking oput sideways for a bit of fun. I miss my sprinter so the 215 being easy to set up for dorifto is exciting to say the least.
As for the loan, im unsure as to what i will do... I know i can repay a 30k loan no worries, have been bufgeting etc for the past year to make sure i can do it, (i saved 10g in 8 months) its just i dont wanna outlay the money straight up and have no money to live with hence the loan, im thinking of borrowing maybe half the money, and if i cant get the financial institutions to lend me the money, i may have to get my brother/olds to take out the loan and just repay that.
I just wanted to know what you guys would do and that you have answered, thanks alot 
Cheers,
Scott
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Tue, 29 June 2004 11:33
|
|
how did u save 10 grand in 8 months.. that means ur montly
spent 10k or whatever u have saved on lightenning ma70
|
|
|
Location:
Camden, NSW
Registered:
June 2002
|
|
Re: Perosnal/Car Loans
|
Tue, 29 June 2004 22:32
|
|
huh?
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Tue, 29 June 2004 23:00
|
|
|
if u spent whatever u have saved on making the ma70 weigh less.. with power it has.. it would murder
|
|
|
Location:
Camden, NSW
Registered:
June 2002
|
|
Re: Perosnal/Car Loans
|
Tue, 29 June 2004 23:43
|
|
|
Oh, yeah i know, but its a 16yr old car!!!!!
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Wed, 30 June 2004 02:12
|
|
mines 20yr old.. id still rather it than anything else
its faster.. handles better and suits my taste
its basically a new car anyway
engine transplant.. all new suspension.. all interior is being redone..
|
|
|
Location:
Canberra
Registered:
May 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 29 July 2004 11:09
|
|
|
I''m also thinking of getting a loan, I earn $664 a week after tax, and only want 10k at the most but don't think I'll get it as although I get 48hrs a week its casual and I've been at the job only 2 months so I don't like my chances.
|
|
|
Location:
Tassie
Registered:
October 2003
|
|
Re: Perosnal/Car Loans
|
Thu, 29 July 2004 11:35
|
|
what r the chances of getting a loan if u r totatly debt free
BUT i got default listed once cuz i didn't understand how my mobile fone bill worked.
I've got a reasonably high disposable income and have alot of money in the bank and I own a few shares in things (After the default listing i decided for every $1 a make 50 cents of it goes in the bank).
If it makes any difference my boss will write a letter to the bank/credit union.
?
I no being 19 my chances are slim but my parents will go guarantor for me if they need to and they have a good credit rating with assets and that stuff .
Can anybody point me in the right direction ?
|
|
|
Location:
Bundaberg, Qld.
Registered:
May 2002
|
|
Re: Perosnal/Car Loans
|
Thu, 29 July 2004 12:44
|
|
i just got a personal loan through my bank last week. was heaps simple to how i thought it would be. i got an unsecured one as i wanted cash to bargain with for a new car. i took it over 5 years (though i hope to pay it sooner) and pay a minimum of $300.90 a month.
the only assets i have are the feral and my clothes and the old stereo i own. oh, and TV.
i have only been in full time work for 9 or so months. and i got it.. 
i am 32 though (if that makes any difference?) and i did pay a car finance loan off years ago and have never had any bad debts (well other than a couple shitty telstra deals, but who hasnt had them.  ), so my credit rating must of been ok.
Malicia, i want your pay... mine over 200 less than that a week.
i miss working in the mines.....
|
|
|
Location:
Canberra
Registered:
May 2002
|
|
Re: Perosnal/Car Loans
|
Fri, 30 July 2004 03:31
|
|
|
I run my arse off for chubb 12hrs a night
|
|
|
Location:
Brisbane
Registered:
July 2002
|
|
Re: Perosnal/Car Loans
|
Fri, 30 July 2004 04:56
|
|
| feral4mr2 wrote on Thu, 29 July 2004 22:44 |
i just got a personal loan through my bank last week. was heaps simple to how i thought it would be. i got an unsecured one as i wanted cash to bargain with for a new car. i took it over 5 years (though i hope to pay it sooner) and pay a minimum of $300.90 a month.
the only assets i have are the feral and my clothes and the old stereo i own. oh, and TV.
i have only been in full time work for 9 or so months. and i got it..
i am 32 though (if that makes any difference?) and i did pay a car finance loan off years ago and have never had any bad debts (well other than a couple shitty telstra deals, but who hasnt had them. ), so my credit rating must of been ok.
Malicia, i want your pay... mine over 200 less than that a week.
i miss working in the mines.....
|
i do think ur age helps alot lol
if the bank saw what my loan helped me pay for... hehe
|
|
|
I supported Toymods
Location:
Perth
Registered:
July 2004
|
|
Re: Perosnal/Car Loans
|
Mon, 27 June 2005 09:06
|
|
to drag up an old thread..
Im looking at financing about 10-12K to finance my second car aka daily driver (Ive always dreamed of a JZ/UZZ30 as my ride so this is the direction i want to go), while i take my MA70 off the road and start ripping her apart to rebuild her (1JZ and all). I cant have it off the road for more than a week because my line of work doesn't permit me to do that and i need my car to get around with in the meantime.
heres my problem.
i have just cleared a number of shitty defaults on my credit file.. all except one is cleared and this one black mark is in dispute at the moment because its a debt telstra factored off that never existed in the first place. so hopefully it wont be too long before this is removed and im totally in the clear..
now ive been searching around. as ive had a few defaults, despite the fact theyve been paid off, i hear the banks dont want to even talk to people like me. so ive been talking to people like esanda, ge, blah blah and i generally get the same thing.. "oh its an import. no, for that we require a 40% deposit and 4 year term.." or "oh its more than 7 years old? no we cant do that".
so that brings me to the question, who do i go talk to now? i dont want to get locked into something for 4 years. 2 tops.. i only want 10-12K anyway, yes it will have to be secured, i understand that.. but insurance is a problem as most insurance agencies wont insure imports/cars over 15yo/people with criminal records, and in this case, two of those affect me. just car wont insure me because i have been convicted of something in the last ten years when i was a juvenile.. (im 26 now). so who should i be talking to?
edit: fyi i have worked the same job for 20 months and i cleared 39.5K last financial year..
help!
[Updated on: Mon, 27 June 2005 09:08]
|
|
|
Registered:
June 2003
|
|
Re: Perosnal/Car Loans
|
Mon, 27 June 2005 10:03
|
|
Have you tried going through any brokers? Some of those blokes can work miracles.
There are brokers for getting loans, and there are brokers for getting insurance. I don't know any loan brokers offhand, but these guys helped me out a while back with car insurance:
Insurance Australia Broking Pty Limited
1300 366 085
|
|
|
I supported Toymods
Location:
Epping, Sydney
Registered:
May 2002
|
|
Re: Perosnal/Car Loans
|
Mon, 27 June 2005 10:10
|
|
if you were convicted as a juvenile, your record should be cleaned, shouldn't it?
and just go for a personal loan, with no penalty for making more than the required repayments. I did this, because the car I was buying was 15+ years old. that way it doesn't really matter what you're buying it for - you could list it as "large collection of sex aids to start up erotic fantasy studio" or some such. on 30+k for 20 months, a $10k loan shouldn't be too hard to get (but the banks, as you know, will not touch you with a 10 foot pole, any previous loan defaults makes them not like you)
|
|
|
Location:
Campbelltown
Registered:
November 2003
|
|
Re: Perosnal/Car Loans
|
Mon, 27 June 2005 10:17
|
|
|
hey Ae86slut i realise you work with CBA but do you have any banking with Gateway credit union which was set up by CBA for employers and family, man it rocks for loans and atm i have 50 sitting in an account so that once i want to go for a car loan i will get one with them.
|
|
|
I supported Toymods
Location:
Perth
Registered:
July 2004
|
|
Re: Perosnal/Car Loans
|
Mon, 27 June 2005 10:23
|
|
should be, but its technically under 10 years still so theyll still hold it against me regardless. theyre an insurance company at the end of the day..
maybe i might try the broker path. what does this usually cost to hire a broker to look?
|
|
|
Location:
Newcastle, Australia
Registered:
March 2005
|
|
Re: Perosnal/Car Loans
|
Mon, 27 June 2005 11:56
|
|
Why get a loan for any more than 5k? It's ridiculous to loan 15k for a car that will take 5 years to pay off, cost you more like 18-20k by the time you have paid off the loan, and be worth 5-10k by the time it is paid off...
Better off just buying an old bomb and saving up the cash to buy something you really like. You'll also end up with something far newer and better, rather than just getting up to your eyeballs in debt trying to impress your mates with what is really just a means of getting from A to B.
|
|
|
Location:
tas
Registered:
June 2002
|
|
Re: Perosnal/Car Loans
|
Mon, 27 June 2005 12:19
|
|
Ha man, i dunno how i pulled it off, but a i got a $5k loan for a laptop, i was on the dole at the time, and had no previous work history behind me.
Now i make enough bieng an IT guy sitting on the internet all day looking busy, that i will only save up real money and buy outright. Debt is bastard. Just stay out of debt all together i tell you.
That $5000 laptop i buaght is already obsolete, and i built another one the same for $700 not long after from parts on ebay.
|
|
|
I supported Toymods
Location:
Perth
Registered:
July 2004
|
|
Re: Perosnal/Car Loans
|
Tue, 28 June 2005 00:46
|
|
|
debt wouldnt phase me much for 10-12K.. like the commissions i make alone in the year would enable me to literally pay off a loan that size easily in 1 year.. any more though and id be a bit narky.. i obviously dont want to stay in the shit too long because it will detract me from my real purpose which is taking te poopra off the road to do the 1JZ + R154 + Complete respray inside and out..
|
|
|
I supported Toymods
Location:
Perth
Registered:
July 2004
|
|
Re: Perosnal/Car Loans
|
Thu, 21 July 2005 00:58
|
|
*bump*
which providers should i be looking at for a 5K loan to fund my JZ conversion? a personal loan obviously.. who offers a good deal?
|
|
|
Location:
Sydney
Registered:
October 2003
|
|
Re: Perosnal/Car Loans
|
Thu, 21 July 2005 02:00
|
|
If you cant seem to get money, change the purpose of the loan from car/personal to investment/shares/managed fund
I promise they will at least reconsider your loan if not grant it, worked for my brother whos probably has one of the worst credit ratings !!!!
|
|
|
