Finance Through Skylinesaustralia Forum

[psybic]

I'm a software developer, work in the Finance Industry. Lately, I have quit my job and started to do some independant consulting.

I am working on some online client referal systems, so basically, all the work for getting the is done from here in Newcastle, but the client can be anywhere in australia.

The place I am contracting for at the moment has 25 lenders they put the proposal to, but thats just an example.

How many people using the forsale section on here, or other forums, could be assisted by some online applications for personal unsecured loans. Its your typical broker setup, but we do it all using online forms, rather than you walking in to a broker. Also, the fees are less, because one office services many clients.

I would have pmed this to a mod, but it wouldn't be bad to hear the general ideas on this. It came to me just then when someone was talking about getting finance gor a GTR who was 19. You aren't going to get many secured lenders interested in using an imported car for security at all. There are many other ways of obtaining the finance that you need though, thats why using a broker can help you with that, as well as interest rates.

Thoughts?

[psybic]

Ok, thanks for all the PM's guys, lol I wasn't actually just trying to drum up business, but I am surprised you guys seemed to struggle with finance, cause I can't see how you won't get any with your situations. Its about knowing HOW to ask for it and wording the loan purpose correctly.

So obviously there is a need for people to get finance on here, would people like an interface they could put in all their details then either be emailed or phoned and told whether they are going to be in with a chance or not?

Does any of the admin people have any feedback?

[jabtronic]

Yeah I think an interface like that would be useful, but only if it's based on lenders that are willing and deal primarily in loaning out to the majority of us who are using the loan to buy Japanese imports.

As you said in your PM, no car financier is going to touch me because I want Japanese car, the only choice is to get a personal loan but most *banks* still won't accept because of the value of the loan. I get granted car finance (for Australian delivered vehicles) no problem because of the security but when I ask for a personal loan instead it becomes alot harder.

If your idea is so that the brokering process is primarily online (instead of in an office) I think it would be very useful and beneficial and could save alot of hassle

Edited March 30, 2006 by jabtronic

[psybic]

There would be around 25 different lenders that loans would be going to. So should be able to find a product to suit.

Thats pretty much it, get your details online, rather than you having to go to an office. Cuts down on alot of wasted time making appointments and travel and crap.

The company I was going to interface with doesn't actually start until 01 May 2006, but I asked them to take your details and sort something out for you. If they can land you finance easily, it will be a good example for others in similar positions that it can be done, with minimal fuss.

Also, if alot of people start using a particular service, lenders can and WILL be influenced. The company I used to work for had alot of say in the product a lender would offer, because it didn't bother us what the lender charged, if it was too much, we'd use a different lender, so they HAD to compete, other wise it was wasting their time.

So if lots of people start asking for finance like the guys I have heard from so far, young, good income, no debt, but want an import car, as long as you guys don't start screwing them around and defaulting on loans, the lenders will open up new products to suit the market and thats good news for everyone.

[psybic]

BUMP.

Any feedback from skylinesaustralia yet??? You guys don't want to help members get finance for vehicles in your for sale section?

An interesting point, I went to a car yard that specialises in imports here in Newcastle.

I think its interesting to note that they use just some of the products that we could over through an online system for finance. They also, DO NOT leak down, or compression test their imported vehicles and warranty on say an 89/90 model GTR, would be negotiated, as in, probably no warranty unless you pay alot for it.

So whats the advantage paying $25k for a GTR from the car yard, when there are some going for $17k here on the forums. Neither offer warranty and the car yard was even hesitant when I asked if I could do a compression test before purchasing a vehicle, or inspecting the turbos for shaft play.

We cut out the car yards cut of the finance and the money goes to SAU and the consumer instead, at the same time helping people sell their cars privately (increasing the value of privately sold cars). Why no feedback???

[GTR_STEALTH]

I think its an excellent idea...

Skylines Australia would be crazy not to see the oppurtinity here....

[psybic]

Thanks man.

Yeah, I think they should go for it. I think maybe I just haven't asked the right people. I wrote to PranK or whatever the admin dude that did alot of the PHP work apparently. Maybe he doesn't respond to PM's.

Who should I write to and make aware of this thread so they can review and respond?

And on that note, I have written my system in such a way that an IFRAME can easily be added to a page of skylines australia style and we could even apply the skylines australia styles if that was an issue for them.

[sindows]

Thanks man.

Yeah, I think they should go for it. I think maybe I just haven't asked the right people. I wrote to PranK or whatever the admin dude that did alot of the PHP work apparently. Maybe he doesn't respond to PM's.

Who should I write to and make aware of this thread so they can review and respond?

And on that note, I have written my system in such a way that an IFRAME can easily be added to a page of skylines australia style and we could even apply the skylines australia styles if that was an issue for them.

Write to either prank or bltz.

[psybic]

Yeah, tried that many times. Could only actually get in touch by responding to a warning

Been putting people through manually while waiting anyway. :sorcerer:

[sindows]

No, email them...

As prank constantly says, he doesnt reply to PM's.

christian (AT) skylinesaustralia.com i think it is...

[Beer Baron]

i dont understand how this is an opportunity for skylines australia? this is an opportunity for you to drum up business from members of the forum. the only person benefitting here is you, and the lenders. nothing wrong with that, everyone has to make a living, just dont call it something it's not. and i dont see why the forum should be a vehichle for you to sell finance. if you want to become a trader contact blitz and pay your dues like everyone else.

[chaos]

SAU charge the fella to advertise through here.

SAU could even possibly get some benefits from each sale thats referred to this guy via the site.

[psybic]

i dont understand how this is an opportunity for skylines australia? this is an opportunity for you to drum up business from members of the forum. the only person benefitting here is you, and the lenders. nothing wrong with that, everyone has to make a living, just dont call it something it's not. and i dont see why the forum should be a vehichle for you to sell finance. if you want to become a trader contact blitz and pay your dues like everyone else.

Perhaps you fail to understand what I am getting at.

Let me dumb it down.... with a case study, about Fred who wants to by a car.

Typically, Fred has two options. Buy a GTR(cause who wants to buy anything else) from a car yard, as I posted earlier, they provide no warranty, they don't test the turbo's or do a comp or leak down test, and he pays $23K+ for an 89 in average condition. The advantage is, the car yard offers finance.

Option two, is Fred buys from the forum. Private sale, still needs finance, goes and pays Bobby Simpkis to be his broker. The broker either charges a broker fee or doesn't (either way he still gets a cut from the bank, but I bet you already knew that, cause you seem pretty switched on )

My suggestion is to CUT OUT THE BROKER.... yeah... thats right. NO BROKER.

SAU GET $$$ instead of the BROKER.

I don't want to be a trader. I have no intention in ever meeting any of these people or hearing from them. I wish the system to be fully automated. So its not like an ad. Its a page, on the forum, where someone wanting Finance enter's their details, then they are contacted later from the company that sources the loan.

Each time someone enters their details, obviously the database knows where the lead originated, if its successful, SAU gets a little cheque at the end of the month. For doing nothing. Just having a page. Typical car loan for over $20K would see them getting around $100.

I don't know how much stuff you read before posting that, but I'm not a broker, I haven't made any money out of the people who have asked me for Finance. I am a software developer and I stand to make money from building the database that facilitates this. Please try and read more before posting misguided shite.

I have emailed old mate, countless times, I know he doesn't respond to PM's. He has responded once, thank god he got the concept quickly, however haven't heard back again.

[psybic]

Last post was hell long. So a quick summary is:

I don't sell finance. I write code.

They aren't directed off this site. It appears internal to SAU to a user.

SAU receive $$$ for each settled loan they submit to the database of loan requests.

I don't see how it doesn't benefit SAU. They just have a form in the for sale section that lets people apply for finance, for each settle application they get $$$.

[R31Nismoid]

So whats it in for you? (its all a bit clearer now for me at leasT)

Surely you arent doing this from the goodness of your heart?

Or are you?

[psybic]

I'll get paid from the company that actually obtains the loans to set this up. Hopefully going on 12 month contract as their chief technology officer, so the more deals they put through, the better for me.

They would ofcourse love to have skylines australia putting through deals to them.

They have already worked on a few as I said and people buying cars are usually after more than $20k and they aren't your typical dead beat debt consolidation person. So its a pretty good client that comes off these forums usually.

So yes, I will be better off if deals go through this site. If not direct $$$ per loan amounts.

SAU will make a certain amount of $$$ per deal.

Client gets Finance without going to broker, MASSIVE convienience, plus cheaper, cause the broker would go through a multilender system like ours anyway, but ad their cut, which is bigger than the SAU cut would be.

Ofcourse the company that sorts out the loan make money from commision also.

So typically, broker gets say $120 from us, maybe a service fee of $400 (but trust me, I have seen some much higher).

We'd only pay SAU say $100 (because the automated system is built, they don't have to actually do anything).

Client doesn't pay that $400 service fee, cause their is no broker, just SAU.

Client is $400 better off.

SAU is $100 up, cause they don't have such a system now

Our company is $50 better off than if it went through a broker, but maybe would have never got that client at all, so even better.

The only people that won't like this, are brokers that deal alot with car finance and car yards themselves.

The company I used to work for, who suck arse, were neg with large online car sites... not sure if I can mention who, but lets just say, think BIG. However because they sucked arse, didn't happen... no really, they lick bot bot.

So this is a similar, yet simpler concept. Nice and easy to see exactly what is happening. Its not magic, its just cutting out the need for finance brokers and car yards. Which is what the private sale section does anyway, its a virtual car yard... but you can't get finance through your virtual car yard... yet...