I Need Finance For An Import

[Fujiwara]

Hey Guys.

I was going to get my current finance refinanced with Esanda, but

they said they don't finance for imports.....

ANy companies out there that do?

Also, looking to pay it off in 3 yrs so they need to have a minimum loan term of 3 yrs...not more.

Or if anyone can hook us up with a low rate, then pls PM me.

Kind Regards,

Paul

[R34GTFOUR]

Hey Guys.

I was going to get my current finance refinanced with Esanda, but

they said they don't finance for imports.....

ANy companies out there that do?

Also, looking to pay it off in 3 yrs so they need to have a minimum loan term of 3 yrs...not more.

Or if anyone can hook us up with a low rate, then pls PM me.

Kind Regards,

Paul

You can get a unsecured personal loan from pretty much any bank and as long as you can repay it and havent got a bad credit history they'll lend 30k with out any problems at all. The only problem with unsecured loans is that the finance institution doesnt use your car as security so the interest rates are slightly higher. Normally theres a 2-3% difference p.a. between a secured and unsecured. In a loan term of 3yrs thats not going to make that much of a difference maybe an extra 10-15 bucks a week, if that. You are going to find it extremely tough to find a place to lend you money and use an import as security, none of the big banks will do it, and the smaller places that may generally have hidden fees which makes up for it.

Personally, i would shop around the big banks, and some of the credit unions and get an unsecured variable loan, since the interest rate wont changed that much ovver the next 3yrs to hurt you and by going variable rate you can generally repay as much as you want. Be careful when they say you can make extra repayments on a fixed, there generally is a limit of how much you can repay on top of you standard repayment.

Shop around is the best idea

[lingeringsoul]

Tofu delivery not making enough money?

[some_cs_student]

I personally found that HSBC and MembersEquity unsecured loans were roughly 11.45% which is not too bad for unsecured personal loans.

There is a really cheap company called EasyStreet but I don't think they will loan much money at all as they wanted security which was a different loan with a different division of the company.

Most banks will prefer if you tell them you are taking it out for 5 or 6 years and pay it off early, but watch out for exit fees.

Regards,

Gareth

[Fujiwara]

hmmm...

thanks for the advice.

didn;'t think of that one before.

will have to research tmr on day off.

One more thing, do i have to tell them it's for a car?

[bluey33]

dependsing how much u want to loan, ST George bank will give it to you.

If its under $13,000 for a car they dont ask ANY questions! Depends how much u need...

[Fujiwara]

this is crazy

st george quoted me 8.95% and monthly repayments of $1022 for a 30k loan

HSBC quoted me 10.45% and monthly repayments of $974

How the hell does that work out?

higher interest rate, yet i pay less???

FINANCE/BANKS are full of BS imo

Edited May 2, 2007 by Fujiwara

[ProphetR33]

this is crazy

st george quoted me 8.95% and monthly repayments of $1022 for a 30k loan

HSBC quoted me 10.45% and monthly repayments of $9744

How the hell does that work out?

higher interest rate, yet i pay less???

FINANCE/BANKS are full of BS imo

$9744 is more than $1022

I think you mean $974. Did you check the term that they calculated the repayments on?

St George may be 36 months. HSBC may be 38 or so.

[Fujiwara]

$9744 is more than $1022

I think you mean $974. Did you check the term that they calculated the repayments on?

St George may be 36 months. HSBC may be 38 or so.

yeap...thats what i meant.

and they both said 3 yrs, so it better be 36 months.,

[JP80]

i had a hell of a time getting finance myself, all the lenders hated hearing "import" mentioned

i eventually went with Police and Nurses

their TV ads are shit, but they were pretty happy to have my business

they do however, seem to need to know where most of the money is going, but they don't seem to care why the money is going there (actually had a bit of trouble explaining the three step import/payment process i was meant to use with my importer, but i got around it)

on 15k it was like 11.24% fixed over 5 years

min fortnightly repayments of like $167

(its cheaper if you do the thing where they deduct repayments from your pay, 10.02% at the time, but i was changing jobs... i guess i have the option to change it now, but their phone number is all the way in my pocket)

[HackerX]

I got mine (for my R34) through RACQ (who I work for, but they offer finance to anybody) who onsell from RACV (who offer the same sort of finance directly).

The requirements were:

Bought from a dealer (only because it's an import)

Full comp insurance (a given on financed cars)

Also, because of my pretty much zero credit history, I had to show a savings history.

$25K over 5 years = min $230 fortnightly payments (can't remember what the % rate was)

Edit: Should point out that I'm paying it off quicker than that