Jen1977ni

We went to look @ a car yesterday with a view to getting it on finance. However the guy there told us we had to be in Oz for at least 3 months before being considered for finance?! My partner has transferred from the British Army into the Aussie Army so has a guaranteed wage plus we were gonna put $5 to $10k down on it as a deposit. So, was this guy right, to be honest he did seem a little bit unsure...

MartinLuther

Maybe it's a rule of the finance company. I seem to remember that I had to wait 6 months to get a credit card but I think that was a Virgin rule. I think I could have got one from the bank immediately if I paid for it.

Geelong Gent

Well based on personal experience we did it in the first 12 hours with toyota finance.

ozhappy981

There is no legal requirement that says you have to be in the country x months before you can get finance on a car/mortgage/credit card.

But each company can of course make up its own rules. It's up to them who they want to lend money to.

Maybe this particular company has had bad experience with new immigrants taking out loans, then hightailing it out of Oz and never paying back the loan. So, this company has decided to haev this three-months rule.

But why are you taken the car dealer's finance option anyway? These deals usually have much higher interest rates then a bank loan. Why don't you take yourself to your bank and ask them for a car loan?

Bonnie65

Hi Jen

We were offered car finance when we went to Wippells on arrival - it was with St George bank as I recall. Ended up not bothering in the end but the finance was available.

It's also worth looking at credit unions for car loans - we recently used Savings and Loans credit union when we bought a new car recently
http://www.savingsloans.com.au/Default.aspx?p=1

Their interest rates are very competitive. They're based in Adelaide but were happy to take business from us in Qld

billymacker

why get into debt why not just buy a car for the $10k you have.

Centurion

Because some people like newer cars. $10k doesnt get you a whole load here.

harrip

For a $10K car you could get into debt with repair bills. May as well go for something certain. People like certainty...

Jen1977ni

Great, thanks Nic.

@ Billy: We want to get a car on finance because we want something more reliable than the banger we bought for $5k, to take us further afield, as in all honesty, we'd not risk driving something of $10k and lower on a long journey, and because, it's what we want to do, rather than waste all of our savings on a car! Simple enough really...

Gems

Try Nissan, they offered us finance the first week we landed and this was on a temp visa. However requires slightly higher deposit.
It was Perth, but may be worth trying your Nissan city dealer.

Gems

billymacker

plenty of cars for sale at good value for $10000

http://perth.gumtree.com.au/c-Cars-V...AdIdZ184745255

and this one bid them $10000 you may get it for $10500
http://perth.gumtree.com.au/c-Cars-V...AdIdZ184721770

you don't have to have the latest fancy car you only need it to get you from a to b, change it in 12 months
use your money else where you will need it.

FluffyTheCampfireSlayer2

We also got a car within 24 hours of landing - Toyota Finance again.

I'd say this fella is talking out of his hoop!

Seacaptain

This is good to hear as we are hoping to do the same as the OP within a couple of weeks of arriving in Oz!

hoofie2002

You could also try a secured car loan from your bank.

Cheetah7

I think whatever car you get, don't compromise on safety features and if that means paying a bit more then so be it. Getting from A to B is one thing we all have to do but I know I would rather have a newer car to do it in.