British Expats

British Expats (https://britishexpats.com/forum/)
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-   -   Credit rating (https://britishexpats.com/forum/australia-54/credit-rating-901305/)

oscarricher Aug 7th 2017 4:00 pm

Credit rating
 
Hi guys

apologies if covered before but i can never work the search engine on these forums.

I am moving to Oz in Octo, and want to buy a new car under a loan repayment scheme. How do i get a credit rating in australia? do they use my UK one? will i have problems getting a loan? I have sold my house so have liquid assets but obviously i dont want to put a large chuck on that into a car!
I also will have a job (as long as HR sort the checks out in time!).

anyone been here or advice with credit ratings?

ta

Pollyana Aug 8th 2017 4:57 am

Re: Credit rating
 

Originally Posted by oscarricher (Post 12311417)
Hi guys

apologies if covered before but i can never work the search engine on these forums.

I am moving to Oz in Octo, and want to buy a new car under a loan repayment scheme. How do i get a credit rating in australia? do they use my UK one? will i have problems getting a loan? I have sold my house so have liquid assets but obviously i dont want to put a large chuck on that into a car!
I also will have a job (as long as HR sort the checks out in time!).

anyone been here or advice with credit ratings?

ta

Your UK rating is irrelevant,you'll be starting again from scratch

sr71 Aug 8th 2017 7:18 am

Re: Credit rating
 
You'll start with a blank credit rating, which is generally a good thing (though not sure with the recent changes shows repayment history)

In any case car finance is very easy to get as long as you have a job, go and talk to someone like Alphera (BMW finance). They are a secured loan generally so less risk for lenders. Or go to a broker like Stratton Finance.

And there are plenty of companies giving loans out to subprime borrowers, people with unpaid defaults, ex-bankrupts etc. You just end up with higher interest or higher car prices.


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