Have been trying to buy a car and have been quoted for us to finance the car we need 30% deposit and our interest rate payments would be at 30%. Any help or advice on what to do or is this the norm for TWP.

Thanks

I don't know where you tried to buy the car. Given your status and probably no Canadian credit history 30% down seems okay but a 30% interest rate is very out of line.

Walk away and try elsewhere!

That is seriously over the top mate,even Kia at Sherwood park will give you a much better deal than that even on a TWP.
I ended up buying a caravan for $3000 but did get offered finance there,and at much better deals than you are mentioning.

You don't have to be fleeced just cos your on a TWP.

And always be prepared to walk away,car salesmen here are like leeches,they will ALWAYS try and upsell,upsell,upsell!!

So what is the typical intrest rate do you reckon I shoul look for?

I have no idea, but maybe give Scotia bank a call (or one of the others) as they offer newcomer accounts (including TWP holders) and car loans to newcomers.

http://www.scotiabank.com/ca/en/0,,2468,00.html

"... Currently the Auto Loan Program is available through the following car dealerships in Canada: Kia, Chrysler, Hyundai, Jaguar/Land Rover, Mazda, Mitsubishi and Volvo. This program is only available for Landed Immigrants and Foreign Workers. Subject to Scotiabank financing terms and conditions. Downpayment required... "

More... http://www.scotiabank.com/ca/en/0,,5208,00.html

example: http://www.kia.ca/pages/specialoffer...naloffers.aspx

Did you have any luck securing a car? We are in the same position on TWP. My husband has been here 2 months and my son and I joined him a fortnight ago but trying to find a car has been a nightmare. We have visited a couple of garages but the mileage on the cars are in the 200,000-300,000 km mark and the cars are in terrible condition.
We are waiting to hear back from a garage who offer credit if you have 2 months payslips and earn over 1400 a month but we should find out tomorrow.
If you had any luck securing a car/finance we would be grateful for advice too.
Many Thanks
Debs

I have had no luck!! Advice .... Try a few places and don't let them beat you up to much on the intrest rate payments as they have with me? Kia at sherwood infairnessareok, but still have mucked me about!

If you are buying something for a few thousand $,try JJ truck and auto's.
I bought my Caravan from there,they didn't budge much on the price but its proven a good reliable car/van,and the price was pretty decent.
Not sure if they do finance as I saved my $'s for a couple of months.

Ok thanks for the advice - good luck with your search. My Husband has just gone off to a garage to discuss finance options with them but I will find out what the interest rates etc are.

Do you have any sort of deposit to put down? Could you not buy something outright? It is very possible and realistic to buy decent cars under $5k with low enough mileage on them. Honest, we have some. Even one for sale

If you have something in the $3k mark we would be interested - sorry to comment on your post UK28

Look in your PM's