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Bank loans for cars???

Bank loans for cars???

Old Mar 3rd 2009, 1:48 am
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Default Bank loans for cars???

Hi everyone

We've made it!!! but now have a problem...... went to see the bank today and apparently until we get PR there is no way we can get a bank loan for a car - this was BNZ - we didn't worry about this beforehand as we heard loads of ppl got loans.... What did you all do to get it??? Help as there is no way we can manage without a car!!!
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Old Mar 3rd 2009, 1:52 am
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Default Re: Bank loans for cars???

Try a broker or dealer finance, but don't forget to haggle hard over interest rates etc.
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Old Mar 3rd 2009, 2:14 am
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Default Re: Bank loans for cars???

Originally Posted by onsisoppad View Post
Hi everyone

We've made it!!! but now have a problem...... went to see the bank today and apparently until we get PR there is no way we can get a bank loan for a car - this was BNZ - we didn't worry about this beforehand as we heard loads of ppl got loans.... What did you all do to get it??? Help as there is no way we can manage without a car!!!

How much do you want to spend? I have a friend in Palmy who is returning to the UK and is selling the Toyota starlet. Its just a town run about but they have been all over in it. Its as cheap as chips $1800 firm and has a new MOT new tyres and is in very good nick apparently. If you want a cheap, reliable car for little $ this is for you!! Obviously you will have to come to Palmy to get it. I think the previous owner had it 15 years..only about 3/4 owners in total. PM me if you are interested. They are great cars and go for ever apparently.
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Old Mar 3rd 2009, 5:29 am
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Default Re: Bank loans for cars???

We bought two cars within weeks of getting here in July 07 and both of them were financed so it can be done.

We bought an Audi TT and a Mitzi Outlander and the finances were arranged through a franchised dealer without any hassle. The only restriction was that the finance term was only able to be for the length of the visa we had which was at the time 12 months.

We did however let the finance company know that we were staying and would be getting PR before the end of the visa period. They agreed (although we never used it) to waive any fees to re-arrange finance at that point if we needed to.

Finance agents in some dealers will do finance for literally any vehicle at any other dealer. We use a guy a Andrew Simms in Auckland who has since arranged the finance for a friend of ours on a new Mazda 323 and she at the time was also on a 12 month visa.

If you want his details let me know by PM .

Go into a main dealer or in fact any dealer at the moment and say you are seriously needing to buy a car and they'll find a way to finance it believe me. The car industry here in terms of sales is in a dire situation, use it to your advantage!

Last edited by teambwr47; Mar 3rd 2009 at 5:34 am.
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Old Mar 3rd 2009, 7:15 am
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Default Re: Bank loans for cars???

The situation has changed (obviously) from what it was in mid 2007. But most good dealers will still have finance available through one of mtf, UDC or Marac finance companies. Or try those finance companies online.

ps If the dealer doesn't have one of the better finance companies standing behind him, then that might tell you something too.
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Old Mar 3rd 2009, 11:38 am
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Default Re: Bank loans for cars???

Originally Posted by onsisoppad View Post
Hi everyone

We've made it!!! but now have a problem...... went to see the bank today and apparently until we get PR there is no way we can get a bank loan for a car - this was BNZ - we didn't worry about this beforehand as we heard loads of ppl got loans.... What did you all do to get it??? Help as there is no way we can manage without a car!!!
Now is not the time to buy a new car especially during the recession. A used car for under $1000 is the way to go.
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Old Mar 3rd 2009, 2:52 pm
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Default Re: Bank loans for cars???

I would be looking for a cheap import not blowing my cash on a new car.
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Old Mar 3rd 2009, 7:12 pm
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Default Re: Bank loans for cars???

Originally Posted by ukkiwi View Post
I would be looking for a cheap import not blowing my cash on a new car.


Totally agree. In the past I have spent waaaaaaaaaaay to much on cars. I now drive an 11 year old Honda loser cruiser that I have had for 2 years and will own for many, many more to come!! It goes, keeps the rain out and its cheap. Plus cos its 11 years old I care not one jot of its appearance. So who cares about the odd body wound??
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Old Mar 4th 2009, 2:47 am
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Default Re: Bank loans for cars???

Originally Posted by Genesis View Post
Totally agree. In the past I have spent waaaaaaaaaaay to much on cars. I now drive an 11 year old Honda loser cruiser that I have had for 2 years and will own for many, many more to come!! It goes, keeps the rain out and its cheap. Plus cos its 11 years old I care not one jot of its appearance. So who cares about the odd body wound??
Congratulations mate, you are now officially classed as a Kiwi. As such, please leave this forum immediately.

Oh, and pick up the bean tin exhaust and neon lighting strips up from by the door on the way out OK?

PS: I would also get the older vehicle myself. We did it when we arrived - the Sigma cost $700, got us around for a year, and we sold it for $400. Well worth the gamble, and means you have time to see what's about and making informed choices rather than blowing your wad on something that devalues as you look at it sitting on the driveway out of necessity.

Last edited by Wiz'n'Ton; Mar 4th 2009 at 3:11 am.
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Old Mar 4th 2009, 3:58 am
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Default Re: Bank loans for cars???

We walked into a garage & said "show us your cheapest car cos we have just arrived from the UK, haven't sold our house & are on a VERY tight budget!"
The garageman showed us a couple of cars at $3-4k..."anything cheaper?" we asked
He then took us to the back of the garage where there was a cute cream Honda Accord...born in 1982!!
Someone had just traded it in...1 owner in 20-odd years!
We bought it for $800...bargain!!
I care not...it gets me to work & back...I kinda like it...even the kids will get in it now!!
You don't need a bank loan...buy cheap...really cheap!!
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Old Mar 4th 2009, 7:17 am
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Default Re: Bank loans for cars???

If you want to buy a new or nearly new car there has never been a better time to do so than now.......

The car market is in freefall and many main dealers will go to the wall in NZ over the coming year or less.

While many will always buy old cars as do most Kiwis, if you're into cars and your job/finances are secure now's a time to take advantage....
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Old Mar 4th 2009, 8:07 am
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Default Re: Bank loans for cars???

Originally Posted by teambwr47 View Post
If you want to buy a new or nearly new car there has never been a better time to do so than now.......

The car market is in freefall and many main dealers will go to the wall in NZ over the coming year or less.

While many will always buy old cars as do most Kiwis, if you're into cars and your job/finances are secure now's a time to take advantage....
I kinda agree....

If you are a car person (as i am) and like you say, you have a secure job and are able to make the monthly payments then go for it!!! Although the monthly payments do become tedius after time

I am not sure what we are gonna do re: cars when we get there but i think i would be worried that if i bought an old car it would break down all the time!!!

Dont get me wrong... i'm a modern woman and do my own services etc... BUT if ur head gasket goes or a timing belt snaps when u are miles away from home you're screwed!

Also, whats the main reason that kiwis have many old cars??

Even on google earth, all the pics have older style cars... i even saw an ancient nissan sunny... and i aint seen one of those in the UK for years!
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Old Mar 4th 2009, 8:57 am
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Default Re: Bank loans for cars???

There are plenty of newer cars as well though. In any case one big reason is the flood of 2nd hand Japanese imports into the market. The 2nd is that many Kiwis are very cheap or too poor/tight to buy new cars.

It isn't much better in Australia, although over there the cars generally seem to last forever.

And I'm going to offer one more reason and that is many in the UK have it pretty good and have become spoilt. Is it really necessary to change cars every 2-3 years and have the latest Audi or 4WD?
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Old Mar 4th 2009, 11:00 am
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Default Re: Bank loans for cars???

Originally Posted by sr71 View Post
It isn't much better in Australia, although over there the cars generally seem to last forever.
Haha that reminds me of my stay in South Africa. There were actually cars taped together with Duct Tape lol

Originally Posted by sr71 View Post
Is it really necessary to change cars every 2-3 years and have the latest Audi or 4WD?
No it really isnt necessary, but sometimes compulsory lol My almost 5 yr old megane is ready for the scrap heap lol only done 40k miles and requires a £600 repair! I grudge getting rid of it tho.. bloody money i've lost on it... I must have been having a blonde day when i bought that... After all it is a renault!! I should have known better.

I will keep it til we leave for NZ... if it lasts that long lol

I guess japanese cars do run forever!!! I'll keep that in mind haha
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Old Mar 4th 2009, 6:04 pm
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Default Re: Bank loans for cars???

I don't want a fancy new car. Just a reliable car to take me from a-b . As I got 3 small children i require a car we can all fit in - asa most cars don't fit 3 carseats in the back!!!!! I don't even have a $1000 cash to buy a car so would HAVE to be on a loan as we didn't manage to sell our car back home. We've been told that you can not get a car older than 1999 on finance. I gave up my top of the range 4x4 in england and are happy with a 1999 car we can all fit in comfortably and a pram and maybe a friend or two for the kids. And they come in at about $10K - So it is not like I want a fancy car or anything.......

Why do people critisize? We are able to repay the monthly payment as my husband is on a reasonable wage...... we just didn't realize we can't get it on a loan.

However Dads are great and my dad is lending met the money instead and i can pay him back all the way to south africa instead.

I thought this is a forum for advice instead i am being criticized.
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