Hello,

Does anyone know how the credit system works in Australia? I will have to buy a car but don't want a shitty one so thought of getting a car loan and putting a decent deposit down.

I have a letter from WA Pol stating I have a job and how much a year I will earn.

Will it be difficult to get a loan straight off? What requirements need to be met?

Many thanks

Car finance thru car companies comes with higher interest rate so best option is personal loan (as this can be upto 10% less in interest). Long time (15yrs) since we got loans )!so I would highly recommend posting this to the main Australia section for better answers. Also credit system does not, as far as I know, work like the uk one

we had only been in Oz 3 months, back in 2011, OH got a bank loan with NAB, we're on a 457, loan ends in June when visa expires, just had to provide visa details and work details. repayments are much less than what the car dealership offered us.

Actually, finance through a dealer using a reputable finance company can be cheaper than a personal loan. It does depend on the type of loan and your credit rating (here - which is not helpful for OP). Since I have just bought a new car, I did the research but my OH is also in the finance industry.

We wanted to get a decent car too so took out a loan. We were both working and so had no problems whatsoever getting a loan within a couple of weeks of arrival.

My husband got a loan for my car within 6 weeks of arriving. All he needed was the deposit and proof of income. The financing through the dealer was much less expensive than the bank loans we researched.