S2000? + Car Loan Questions

[cannabiscorpse]

With a personal loan mate you have two options- secured and unsecured. The secured loan (more trouble than its worth imo) you have to put the car up as security. However you can still get a unsecured personal loan (pay slightly more in interest) and not have to put the car up as security. They ask what its for- but you can just say its for a car of $$ value.

Also in my opinion, get the 34 bro!

[kawasakirider]

Cheers for the info mate, with the unsecured personal loan, can I get it fixed rate? I don't want the interest to be floating all over the place when the bank feels greedy, (as if they aren't already, haha).

I think I'm gunna go for this job, and go for the 34. I love 34's too much, plus I don't like the s2k soft top, it looks girly, and a mugen hard top (makes them look awesome IMO) is 5 grand. Too much....

Anyone know how long I'll have to be working for to get this loan? Also, will they loan me the money if they know I'm not licensed to drive it?

[cannabiscorpse]

Pretty sure you can still get unsecured with a fixed interest rate- although fixed is a higher rate. With my bank you had to be working full time for 3 months and have payslips etc. Also, with you not being licensed to drive it, i would say its fine. I just wouldnt mention that to them, and if they ask what car your chasing say its a na version of the 34. If its unsecured it really doesnt matter to them what its spent on as long as you make your repayments. My bank basically has a check list for unsecured loans (car, boat, bike, house renovations, car repairs etc) and once you tick the box there is no questions asked about what you are spending it on.

Edited May 28, 2011 by cannabiscorpse

[kawasakirider]

Thanks man

Yeah, I know the fixed rates are higher, but isn't there a chance with a variable rate loan that it will go higher than the fixed rate? Which bank do you use? Have you ever had a loan for a car? What's your experience been like, good/bad?

Thanks for the advice.

[Truffles]

Cheers for the info mate, with the unsecured personal loan, can I get it fixed rate? I don't want the interest to be floating all over the place when the bank feels greedy, (as if they aren't already, haha).

I think I'm gunna go for this job, and go for the 34. I love 34's too much, plus I don't like the s2k soft top, it looks girly, and a mugen hard top (makes them look awesome IMO) is 5 grand. Too much....

Anyone know how long I'll have to be working for to get this loan? Also, will they loan me the money if they know I'm not licensed to drive it?

Don't see why you'd get a loannd be paying 15-16% interest for 9 months a for a car you can't drive for 8-9 months?

If the S2000 if your silver medal, it will always be your silver medal.

Also, the Spoon duck-tailed hardtop is where it's at:

I looked into one when I had mine, but they're far too expensive. Was like 5k for the hardtop (when our dollar was piss poor compared to the US), $1500 for labour and fitting materials and $1500 for paint. Not worth it, at all.

Edited May 28, 2011 by Truffles

[cannabiscorpse]

Yeah mate i have had a couple of personal loans over the years and my experience has been good. I have been using commonwealth bank since i was 18 or so, and i they were the first bank i got credit through. They have always been great to me, and i have been going back to the same branch for around 7 years now, and they know me personally and always go above and beyond to help me.

Basically i got my first loan at 18 and bought an ss commodore, then about a year later after paying some off borrowed more and got a yamaha r6. I always went the variable rate and took the risk of the inflating interest rates, but thats entirely your choice. I got my home loan with them around 2 years ago and its always been easy to deal with them over. Also early this year my wife and i took another personal loan to pay for her to further her skills as beauty therapist, and once again they were very easy to deal with.

In my experiences i have had nothing bad to say about getting loans, my only advice is to make sure your budget allows it, and to make the most of it try and overpay the repayments. If you can afford to slap even another $20-$50 a week off the loan on top of the repayments, it basically is paying it straight off the loan (without the interest) and you will get to the end of the loan much faster.

[Birds]

Yep^

I'd always borrow on a plan where I could afford to make higher repayments than required. Too many people borrow at the bottom interest rates or borrow their maximum and end up behind on repayments at some point.

[kawasakirider]

Don't see why you'd get a loannd be paying 15-16% interest for 9 months a for a car you can't drive for 8-9 months?

If the S2000 if your silver medal, it will always be your silver medal.

Also, the Spoon duck-tailed hardtop is where it's at:

I looked into one when I had mine, but they're far too expensive. Was like 5k for the hardtop (when our dollar was piss poor compared to the US), $1500 for labour and fitting materials and $1500 for paint. Not worth it, at all.

Because if I had the car, even if it was sitting in my shed I could still work on it and make it better, I get my opens in February anyway. Plus even if I couldn't drive it, I'd be paying it off as soon as possible. I'd have my gold medal at the end of the day, plus r34's are a fair bit cheaper than s2000's. There's a 34 gt-t on eBay with a 26 in it for 38 grand. Wish I could have that,

The s2k is awesome, but the performance potential isn't as easy to come by in regards to $$ as the 34, and it's not as practical. I don't like the ducktail, I think it looks like a hatchback, lol. The mugen hard top is sweet, though.

[kawasakirider]

Yeah mate i have had a couple of personal loans over the years and my experience has been good. I have been using commonwealth bank since i was 18 or so, and i they were the first bank i got credit through. They have always been great to me, and i have been going back to the same branch for around 7 years now, and they know me personally and always go above and beyond to help me.

Basically i got my first loan at 18 and bought an ss commodore, then about a year later after paying some off borrowed more and got a yamaha r6. I always went the variable rate and took the risk of the inflating interest rates, but thats entirely your choice. I got my home loan with them around 2 years ago and its always been easy to deal with them over. Also early this year my wife and i took another personal loan to pay for her to further her skills as beauty therapist, and once again they were very easy to deal with.

In my experiences i have had nothing bad to say about getting loans, my only advice is to make sure your budget allows it, and to make the most of it try and overpay the repayments. If you can afford to slap even another $20-$50 a week off the loan on top of the repayments, it basically is paying it straight off the loan (without the interest) and you will get to the end of the loan much faster.

Thanks for the advice, do commonwealth allow you to do this without a fee or penalty? I was going to ask about this when I got back online. You've been a great help mate, thanks very much.

Cheers birds!

[RS4-S]

geez sounds like youve done abit of work. so you put a BA DOHC 6cly in? or an AU VCT? i converted my ED to manual, SOO much better than those shity BTR auto boxes. well i stand corrected if you've done most of that shit your laughing

yeh get a personal loan because if you get a 'car loan' you have to pay full comp insurance for the first 3 years of the loan (thats what we had to do with NAB and then a condition of the loan was we had to put 12 months rego on at a time not 3 or 6 months (canberra) but it was a brand new car).

+1 for putting afew extra bucks on each payment. also read the fine print about early payout fees. because if you smash the loan and pay it off too early they can sting you $100-$300

[kawasakirider]

geez sounds like youve done abit of work. so you put a BA DOHC 6cly in? or an AU VCT? i converted my ED to manual, SOO much better than those shity BTR auto boxes. well i stand corrected if you've done most of that shit your laughing

yeh get a personal loan because if you get a 'car loan' you have to pay full comp insurance for the first 3 years of the loan (thats what we had to do with NAB and then a condition of the loan was we had to put 12 months rego on at a time not 3 or 6 months (canberra) but it was a brand new car).

+1 for putting afew extra bucks on each payment. also read the fine print about early payout fees. because if you smash the loan and pay it off too early they can sting you $100-$300

AU single cam tickford engine, non VCT, put an EL ecu (with a smartlock bypass module) in it and ran a BBM. The guy sold it to me as 03, but I thought that was the first year of BA? It's more than likely 02. Still a pretty big project and a F around, The AU sump doesn't clear the EA K frame, so it had to be cut and welded. At the moment, the car isn't running. I had it road worthy with an EB manifold, but the belt was slipping because it was a different serpentine configuration to stock, and it wasn't getting enough pull from the balancer. So it was changed over to bbm with the intention of putting the A/C compressor back on, but the only way it can fit is by turning the dizzy, obviously screwing the timing up. I've gotta find a way to get a bracket and a pulley on there. I kinda lost interest in the project, it's sitting at my mothers house just gathering dust. It's a nice EA mont, EB GT body kit (no wing, ew lol), it had a nice set of ROH 17's on it. I'd like to sell it but no one wants it. I didn't do this by myself, my mate who is a gun with cars and I did it, but I can still fix anything that breaks The BTR 4 speeds are shit, aren't they?

Can someone explain to me, or give me a link so I can read about how I could get a loan without security, get the S2K and then when the time comes, sell and buy an R34? I wouldn't be in a hurry to sell the S2K, but I know I'd be able to get into a 34 at some stage, and that's what matters to me. If I could do two cars on the one loan, I'd have more fun doing it like that. I would also (hope to) have quite a few K left over to mod the 34, as you can get 34's for under 20 and S2K's in the mid 20's.

[kawasakirider]

just a note, if your going into R/S get into cash flow positive homes, you could buy 1 to 4 a year without any drama , give yourself and income as well. Check this lady out, i have a mate doing this at the moment and hes doing dam well. And nope i have nothing to do with that site, i just know it from my mate who buys houses.

http://www.realwealt....com.au/index2/

If it was me, looking back and the debt i used to carry, id forget the car right atm and do the house thing or id find a way to do both but i wouldnt sacrifice a solid investment over buying debt for a car.

I didn't see this post, mate. I'll check it out, thanks heaps I know cars are negatively geared debt, I just can't help myself, lol. I'd be inclined to get into some positively geared investments ASAP.

[kawasakirider]

That's really interesting, and it's an idea that I've had in my head for a long time, although I have had no idea of the particulars, this book kind of gets my idea, and polishes it, lol.

Anyone know if I'm earning this money, how I'd go about getting a home loan at my age? Ideally I'd be financing a home, and renting it for more than the mortgage. I'm possibly thinking about renting to uni students. I'm in a share house at the moment where each room is $140 x 3 rooms, that's definitely enough to clear a mortgage.

[cannabiscorpse]

Thanks for the advice, do commonwealth allow you to do this without a fee or penalty? I was going to ask about this when I got back online. You've been a great help mate, thanks very much.

Cheers birds!

No probs mate- yeah commonwealth allowed extra repayments without additional fee- although im pretty sure that if you pay it out in full in under twelve months you get a fee of $200 odd dollars. commonwealth have never asked for security for my personal loans, and i have had my home loan with them since i was 22. I dont think they car too much about age as long as your over 18 and have good steady income with payslips. Also, im not on as much as you!

[Truffles]

That's really interesting, and it's an idea that I've had in my head for a long time, although I have had no idea of the particulars, this book kind of gets my idea, and polishes it, lol.

Anyone know if I'm earning this money, how I'd go about getting a home loan at my age? Ideally I'd be financing a home, and renting it for more than the mortgage. I'm possibly thinking about renting to uni students. I'm in a share house at the moment where each room is $140 x 3 rooms, that's definitely enough to clear a mortgage.

It's definitely possible. An ex of mine (whom I'm still friends with) purchased a house and rents it to help pay the mortgage, while living at home with her parents.

The catch is her parents are also listed as a guarantor on her loan. She's on about 55-60k a year net and manages to do alright. Has a car on finance and still manages to save $150ish a week.

If you can get your parents as a guarantor on your loan (obviously and hopefully you won't need them) your chances just dramatically went up. Also, another major factor is if the bank will consider the rent you will receive as direct income when calculating your income, because at even $350 a week rent your yearly income is increased by $18200. Which is obviously a substantial amount.

It's worth talking to your parents and a bank officer about it. But first, I'd look at getting atleast a 10% deposit and establishing a good saving pattern with the bank. That's what they want to see.

[kawasakirider]

Thanks for the advice, guys. My brother just got me a sweeter deal, a traineeship in construction with the company he works for, for only $3 an hour less. So I'd still be clearing over $1120 a week. If I take this job, I'll get all sorts of certificates and it would lead to me being able to be a leading hand, foreman or superintendant. They get paid handsomely

[Ruxis]

A p plater concerned about 260 km/h and sliding around corners. Forget about the house loan you won't need it if you get what I mean

I'm pretty sure a s2000 may be illegal on your ps. You can't drive 350zs on your ps cause there to powerful. Should look into that.

[Truffles]

I'm pretty sure a s2000 may be illegal on your ps. You can't drive 350zs on your ps cause there to powerful. Should look into that.

Can 100% confirm that they are infact legal. They use a N/A 2.0L engine which is listed as 184kw at the flywheel. So it complies with all of Queenslands regulations. One of the fastest P-plate cars available, given that they way 300-400kgs less than commodores/falcons with the same power.

Yes, the 350Z is illegal to drive with a provisional license. It's power is listed at 206kw at the flywheel, exceeding Queenslands 200kw maximum for P-platers.

[kawasakirider]

A p plater concerned about 260 km/h and sliding around corners. Forget about the house loan you won't need it if you get what I mean

I'm pretty sure a s2000 may be illegal on your ps. You can't drive 350zs on your ps cause there to powerful. Should look into that.

LOL, you obviously didn't read my posts. I'm not interested on the specs for the street, I want to do some track days. 260 isn't a selling point for me, it's just a fun fact. I'd like to drift at a track or skidpan and learn how, though.

[ZILLR]

s2000s and sliding dont go well together. yes the body is great for sliding but the drive line HATES it.

i snapped my first drive shaft last saturday (only had the car for 2 months)

i was also aware that they have weak driveshafts and diffs so i was very gentle on the clutch and only flicked it out 3 times.

they are excellent for grip driving and quite fast in a straight line too (i have beaten a stock GT-T)

basically have money on the side for rear end problems if you get the s2k. engine is BULLETPROOF (so far haha) great on petrol aswell, it loves to burn oil$$$... and if you want a nice intake sound remove the airbox lid and a factory pod is sitting inside the airbox.

only cons are the rear end and having no room lol.

hope this helps!