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Old Aug 7th 2017, 4:00 pm   #1
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Default 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
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Old Aug 8th 2017, 4:57 am   #2
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Default Re: Credit rating

Quote:
Originally Posted by oscarricher View Post
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
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Old Aug 8th 2017, 7:18 am   #3
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Default 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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