Financeing

[Trapper9998]

I know there alot of topics on this already but i am not going to ask for places to look as i have been looking at place already, but basicaly to save me alot of time and effort for nothing i was wondering if anyone new minimum requirements that places look at for financeing someone. I know its not a skyline altho i like them i would like to get a 300zx, which means an unsecured loan. there in lays the problem nobody tells you min requierments. ANZ has some wishy washy getting your hopes up thing about just needing to be over 18 and australian resident for example.

[slip]

I know there alot of topics on this already but i am not going to ask for places to look as i have been looking at place already, but basicaly to save me alot of time and effort for nothing i was wondering if anyone new minimum requirements that places look at for financeing someone. I know its not a skyline altho i like them i would like to get a 300zx, which means an unsecured loan. there in lays the problem nobody tells you min requierments. ANZ has some wishy washy getting your hopes up thing about just needing to be over 18 and australian resident for example.

there are no minimum requirements. There are literally hundres of vehicle finance / finance companies. It is not necessarily and unsecured loan, if it's a vehicle loan they should put an encumberance on your car with REVS.

You are meant to have a good credit rating to be able to get normal finance, but we just got a bloke approved on a VT who is an ex bankrupt. It is up to each individual application because sometimes you can get past certain negatives.

Following are the main points, where do you stand on each, and ill give you a rough idea on how you're looking.

Time in current job and previous job.

Full time, part time, or casual.

Time in current address, and previous address.

Renting with a lease in your name, mortgage, own outright, living with parents, boarding.

Any previous loans that you have paid out, or are currently paying?

Was/is it a good accout? ie have your payments all been on time, or have you been spasmodically late....(includes credit cards)

Current net/gross income.

Is it a steady wage or do you work on commission etc

Outgoings

Rent/mortgage/any other things

Assets

Tools, bikes, cars, boats, furniture or other things of value. How much is each worth.

Credit Report

Are there any defaults, court judgements, or bankruptcy acts on your credit file? How many enquiries are there, and have you been knocked back in the past?

Thats a quick one.

[Trapper9998]

Following are the main points, where do you stand on each, and ill give you a rough idea on how you're looking.

Time in current job and previous job. 3 years of on call casual for numerous companies interspaced when work load was light with dole (i hate that part i think thats what does me in everytime) currently working in a rostered casual position at woolworths petrol.

Time in current address, and previous address.current address a year a month previous lived with my folks for 21 years. Currently renting house i am in off folks

Any previous loans that you have paid out, or are currently paying?1 credit card currently being paid off at about 100 a month.

Was/is it a good accout? resonably good account, now and then late becuase of lack of work.

Current net/gross income. 500 a week after tax is all i know what i will be getting by the end of january. steady wage, never again will i work commision (have once and i hated it)

Outgoings

150 per fortnight on rent, 100 bucks a month on mobile phone. 60 for net per month and 20 for home phone bout 200 every 3 months for power

Assets

one 1990 vn exec commodore worth about 3k atm (i got a bum deal on that i really did) and my compute which is worth about 1800. all my money goes into trying to get either a good car or bills

Credit Report

none that i know of, as for being knocked back all i got knocked back on was the fact that it was an import i was after and that was just in the qouteing area never applied for finance before.

thanks for your help mate

[Spook's_Skyline]

national bank were awesome for us

low rate

very helpful

[slip]

so how long have you been in your casual job @ woolies, and how much do you make per week there?

what will you be doing to ear $500 net/week in january?

I wouldnt be optimistic going to a major lender with that application. Your employment situation isnt helping you at the moment.

Keep your VN for a while, get into a job and stay there, $500/week is enough for a young bloke. Heres a better idea than getting a loan....

Save as much as you can, and start investing it in things that give you back positive cash flow (shares/managed funds/many other options) and try to make your own money, instead of paying off a car that is going to strap you, leave you in debt for 4-5 years, make a finance company thousands of dollars in interest etc etc. Financially and for your future, youre much better off saving and trying to make some money instead of getting into a long term debt and having to save up just to pay for maintenance and repairs etc. People spend so much and repeatedly put themselves in the hole to get a car that they want at the time, and at the end of it, they dont come out looking very good financially.

Working on commission is ok in the right situation. I do it for a living (selling cars) Bit stressfull sometimes

Good luck whatever you do.

[Trapper9998]

I just starter at woolies, i am doing research now and looking 6 to 12 months down the track. starting in jan i pull graveyard shifts so 500 a week is what it works out too after tax. selling cars i would like to try my hand at at least once. especialy if it was on an import lot but i don't think i am very good at sales.