Finance

[ashmo]

hey guys,

Im going to need finance for the new FG 6T im alittle worried though I might get knocked back the fact im only 21 and ive only been in the new job about 7 months and im employed as perm part time. (im getting 38+ hours a week)

Is/has anyone recieved finance that's been in a similar situation to mine? Does anyone here work for a bank? Do I need to be employee longer etc? I dont want to apply for finance if im going to get knocked back straight away as it goes on the credit rating and I dont want lots of applictions for credit on there as it looks bad.

Obviously my credit history and income will play a big factor but my history is good and I feel the income should easyily be enough.

Any help would be great im probably just being paranoid as ive been waiting so long and the times almost here!

[YPURV4]

I got a 30,000 loan when I was 20, but I had already paid off a 10 g loan for my first car so I had a good rating, and had been working at my job for the last 4 years.

But id say you would fine mate they give loans to any one these days.

[ashmo]

cheers dude I forgot to say im about a month away from paying off a 12g loan so that should help alittle.

[senna_T]

I bought my T when I was 20 (as my 21st B'day present to my self) and got finance after being with the company for 5 months. If you have a decent wage and no other major debts you are usually ok - if you still live with your parents that makes it even easier! Oh and shop around for your finance too, get as many quotes as you can through banks, then go and see the Dealerships Finance guys, they will always beat the banks for the business. Win - win situation really, you save money and all the paperwork is done in house

[ashmo]

cheers pat I still live with the parents but will be moving out in about 6 months or so with the gf but want to get the car first haha. that's a good idea I didnt think about getting lots of quotes and bringing them to the dealership. Doing in house would be much better as you sign the papers the same day you pick the car up

[tab]

The fact that you’re permanent and been there more than three months plays in your favour. They only care about those things as they are now legally obliged to, but all they really care about is if the sh*t hits the fan that they can sell your car and get their money back.

[Dillz]

I'm a bronzy with RACV now so I get 5% off now

[ashmo]

I assume if you get finance through a car yard they take security of the car as with most banks? So that would help obviously right?

[Skooby]

Most banks will only lend it to you with the car as security.

But banks hate me. I defaulted on a loan 14 years ago and they still give me problems to this day. I recently tried to get a credit increase of $500 on my $1000 CC and they declined it, stating that I was not in a financial position to pay it back.

Wife and my income per week

Both working full time

Both worked for the same company for 4+ years

CC and personal loan for car always paid on time

Told them to shove their CC up their arse, paid it off and only use cash now.

My mate, who has only lived in the country for 3 years and is still awaiting his residency was approved a $10k CC, a home loan and car loan all in the same day. Farked if I know what their lending criteria is!

Edited 26/04/08 06:55 AM by Skooby

[Chich]

if you can't afford it don't buy it.