Buying a car
#1
Buying a car
Yello peeps
Just looking for some advice. In the uk we have a car on hp. When we come to Aus we need a car and won't have enough in the sale of our car to buy one outright so we will need a loan to buy one... Things I have considered
Getting a loan from bank (will this even be possible as I would have only just landed, husband has job so have got proof of income, if so do you think we could set it all up from the uk so the money will be in bank when arrive?)
Get on hp via a garage ( will I be able to as just landed, whats the general consensus with deposits are interest rates general higher than the banks?)
Any advise would be great, would love to hear from someone that's been in same boat
Thanks for reading
Just looking for some advice. In the uk we have a car on hp. When we come to Aus we need a car and won't have enough in the sale of our car to buy one outright so we will need a loan to buy one... Things I have considered
Getting a loan from bank (will this even be possible as I would have only just landed, husband has job so have got proof of income, if so do you think we could set it all up from the uk so the money will be in bank when arrive?)
Get on hp via a garage ( will I be able to as just landed, whats the general consensus with deposits are interest rates general higher than the banks?)
Any advise would be great, would love to hear from someone that's been in same boat
Thanks for reading
#2
Lost in BE Cyberspace
Joined: Dec 2010
Posts: 14,040
Re: Buying a car
Yello peeps
Just looking for some advice. In the uk we have a car on hp. When we come to Aus we need a car and won't have enough in the sale of our car to buy one outright so we will need a loan to buy one... Things I have considered
Getting a loan from bank (will this even be possible as I would have only just landed, husband has job so have got proof of income, if so do you think we could set it all up from the uk so the money will be in bank when arrive?)
Get on hp via a garage ( will I be able to as just landed, whats the general consensus with deposits are interest rates general higher than the banks?)
Any advise would be great, would love to hear from someone that's been in same boat
Thanks for reading
Just looking for some advice. In the uk we have a car on hp. When we come to Aus we need a car and won't have enough in the sale of our car to buy one outright so we will need a loan to buy one... Things I have considered
Getting a loan from bank (will this even be possible as I would have only just landed, husband has job so have got proof of income, if so do you think we could set it all up from the uk so the money will be in bank when arrive?)
Get on hp via a garage ( will I be able to as just landed, whats the general consensus with deposits are interest rates general higher than the banks?)
Any advise would be great, would love to hear from someone that's been in same boat
Thanks for reading
#3
Re: Buying a car
Am sure nobody is going to lend you money before you get here, shouldn't be a massive issue once you get here and have an income.
#4
Re: Buying a car
Yello peeps
Just looking for some advice. In the uk we have a car on hp. When we come to Aus we need a car and won't have enough in the sale of our car to buy one outright so we will need a loan to buy one... Things I have considered
Getting a loan from bank (will this even be possible as I would have only just landed, husband has job so have got proof of income, if so do you think we could set it all up from the uk so the money will be in bank when arrive?)
Get on hp via a garage ( will I be able to as just landed, whats the general consensus with deposits are interest rates general higher than the banks?)
Any advise would be great, would love to hear from someone that's been in same boat
Thanks for reading
Just looking for some advice. In the uk we have a car on hp. When we come to Aus we need a car and won't have enough in the sale of our car to buy one outright so we will need a loan to buy one... Things I have considered
Getting a loan from bank (will this even be possible as I would have only just landed, husband has job so have got proof of income, if so do you think we could set it all up from the uk so the money will be in bank when arrive?)
Get on hp via a garage ( will I be able to as just landed, whats the general consensus with deposits are interest rates general higher than the banks?)
Any advise would be great, would love to hear from someone that's been in same boat
Thanks for reading
#5
Just Joined
Joined: Jul 2012
Posts: 8
Re: Buying a car
Yes, I agree with bc world. be very, very careful who you deal with.
#6
Re: Buying a car
You could do what we did, we bought a 8 year old "Aussie 6" (as in cheap to run & insure) car on our credit card from a dealer (getting a years warranty too), paying approx 20% interest on the purchase. the HP offered by the dealer was 16% plus approx $400 in "fees". since arriving we have been offered 18 months at 3.99% on balance transfers from westpac so the purchase will end up being quite reasonable.
Last edited by derab; Jul 14th 2012 at 3:17 am.
#7
BE Enthusiast
Joined: Feb 2005
Location: The Gold Coast, QLD
Posts: 443
Re: Buying a car
Avoid dealer finance as even a franchised main dealer is out to get as much out of you as they can and will try and get you to sign up for as much useless add ons as they can screw you for. We were even offered gap protection on a brand new car and the finance guy only backed off when I pointed out the insurance company would replace the car with a new one anyway for the first year. Refuse to pay any origination fee which we unfortunately fell for.
Make sure any price quoted on a vehicle is Driveaway or you will not be happy when you actually pay for the vehicle.
Get a straightforward loan from someone legitimate such as Suncorp or the like and you will be less likely to make a silly mistake while under the pressure of the car dealer.
It is also worth looking on carsales .com.au and use the search for brand new cars in stock and you might get a surprise as to what is available compared to the ridiculous prices asked for second hand cars in Australia.
Maybe not everyones cup of tea but a Brand new Mitsubishi Lancer with 5yr/10yr warranty, capped price servicing and 5 star ancap for $17990 driveaway makes a certain amount of sense compared to a lot of second hand motors out there.
Make sure any price quoted on a vehicle is Driveaway or you will not be happy when you actually pay for the vehicle.
Get a straightforward loan from someone legitimate such as Suncorp or the like and you will be less likely to make a silly mistake while under the pressure of the car dealer.
It is also worth looking on carsales .com.au and use the search for brand new cars in stock and you might get a surprise as to what is available compared to the ridiculous prices asked for second hand cars in Australia.
Maybe not everyones cup of tea but a Brand new Mitsubishi Lancer with 5yr/10yr warranty, capped price servicing and 5 star ancap for $17990 driveaway makes a certain amount of sense compared to a lot of second hand motors out there.
Last edited by neil248; Jul 14th 2012 at 7:38 am.