Question: Financing an Import?

[ix9]

hey all,

I have a trivial question.

I would like to know who here has a "Secured" personal loan to a Skyline ? and What finance company they are with ?

I heard that financiers use the glass's guide to used car value's to determine whether to finance you or not. Now, if a skyline is not a local car, it wouldn't be in the glass's guide right ?

SO

How did you guys get your cars ?

I'm exploring all avenue's of finance here hey, thanks for any help.

[Boostzor]

Its gonna be very hard to get a secured loan for a line for the reasons u said but its not too hard to get an unsecured and just have a little more interest. Plus if it turns pear shaped they cant repo ure car no matter what.

[hippy]

yeah i'd say it would have to be near impossible to get a secured loan for an import let alone a skyline. I tried to get a secured loan myself, but as soon as they hear import its a no no. Also for secured loans u have to get comprehensive insurance, i'd be interested to hear if anyone hear has a secured loan under their name for an import.

[ex-static]

Good Luck,

I found it extremely hard to get an un-secured loan for over 20k, under 20k wouldnt have been a hassle, you could try WestpacBank of melbourne they offer loans on almost anything.

Actually as a matter of fact, most Banks will lend you 20k unsecured, but once you pass that magical number youre in trouble.

Why dont you try leasing it? Do you have a full time job, an on a salary?

Try Prosperion - www.prosperion.com.au

[ix9]

thx guys, that just confirmed what I suspected.

I guess it's an unsecured personal loan for me then hey!

But i'd still like to hear of anyone with a secured loan with an import.

[400HP]

Now, if a skyline is not a local car, it wouldn't be in the glass's guide right

no its not. In fact there is no official valuation guide for imports in Australia. You can bullshit the value as much as you want.

Go with prosperion.

[ix9]

I was _SO_ into the prosperion idea....

I enquired back in march, employer said "yes kym, knock yourself out, we can help you lease a car"

a few months later, they changed thier tune, and now it's too "risky" to help me with a novated lease with prosperion..

THAT SUCKS balls!

And obtaining a secured loan for an import is not possible. So an unsecured loan looks like the way to go. Wish me luck..

As for the 20k "magical barrier".... I'm _WAY_ over that! So I shouldn't count my chickens huh !?

F**** finance, F*** insurance, F*** these STUPID things preventing me from getting a skyline!!!

Just my 2c.

[ex-static]

Check your employment agreement, there should be somehting in there about salary packaging.. if its in there, then they have to do it.. heh

also, get one of the guys from prsoperion to ring your company, they'll talk your employer round.. its thier job

[Boostzor]

Pacakging is generally only for govt departments isnt it?

[ix9]

Originally posted by ex-static

Check your employment agreement, there should be somehting in there about salary packaging.. if its in there, then they have to do it.. heh

also, get one of the guys from prsoperion to ring your company, they'll talk your employer round.. its thier job

Nothing about salary packaging hey. unfortunately.

they've already made up thier mind about it... it sucks.. they won't be talked around. they spoke to their accountant about it too...

[ix9]

Originally posted by Boostzor

Pacakging is generally only for govt departments isnt it?

Nope. any employer can provide salary packaging.

It's mainly for company cars hey

except my employer. they suck ass.

[Guest zerorespect]

guys - my current car is an import honda prelude - no probs getting a secured loan on it

the trick is that it has to be registered in australia before you can think about applying for the loan

they ask make, model, year, rego and vin number

you say nissan, skyline, 1996, xxx-xxx, xxxxxxxxxxxx and see how far u get

same with insurance...people were telling me horror stories about insurance for imports but again, make, model, year, rego and vin please...

again..told them straight up and there you go...they even gave me a market value of $37k (3 years ago) when i paid $25k...awesome...i've even been arse ended and everything was jake with them fixing everything so no probs

i know the difference b/n the line and the prelude is the availability of it locally but don't go convincing yourself u can't get one until you try

i'm going through the hoops selling my prelude and organising a novated lease on a gtr at the mo...insurance is the killer

they will never offer you any type of finance for a vehicle that is not brand new from a dealer or registered in australia -> hence me looking at yards and private sales rather than importing myself

the other option is adding it to your home loan...

[inark]

how did u manage to import a prelude when theyre already imported into australia... im guessing a personal import??

[Guest zerorespect]

yer...it was 3.5 years ago...and yes it was a personal import...

i've had a few cars and this thing is the best...it's breaking my heart selling it to get a gtr

i bought it from the original owner who teaches japanese doods to play golf in japan...he came home for a holiday and brought a car with him...now it's mine!

[NIZ30]

Not getting a secured loan for a skyline has little to do with the fact that it is a skyline. Finance companies "taylor" the loan. Meaning they take into account the amount and the age of the car, not the make or origin.

Basicly you can't get a secured loan through the big places like Esanda, and VERY difficult through small companies, for any car over five years old (which is most skylines). Even if the car is say, four years old, the interest is just as high as an unsecured loan, but it would have more establishment fees and penalty interest should you try and pay it out early, so wouldn't be worth it.

Secured loans are only worth it if the car is brand spanking new. People who can afford a skyline in this catagory usually are involved with businesses anyway, and would choose a Comercial Hire Purchase or Lease for tax reasons.

[Guest tgriffin]

Originally posted by Strich9ine

hey all,  

I have a trivial question.

I would like to know who here has a "Secured" personal loan to a Skyline ? and What finance company they are with ?

I heard that financiers use the glass's guide to used car value's to determine whether to finance you or not.  Now, if a skyline is not a local car, it wouldn't be in the glass's guide right ?

SO

How did you guys get your cars ?

I'm exploring all avenue's of finance here hey, thanks for any help.

I got a secured loan on a '95 Pulsar via a dealership (Col Crawford). However, they organised it via St George.

[dAVE]

I have a lease on my 4wd. Its basically a secured loan. I pay off $XX per month for 4 years till its all paid off.

You could try that I guess.

[Red Sky II]

Just been through the financing thing in purchasing my Spec II R33 (due to arrive on Saturday). As I am importing it through an agent the secured option wasn't available as they needed it to be registered so they can take the security over it. There was no mention of limits though compared to an unsecured loan where the $20K barrier exists.

Most finance companies and banks will prefer a secured loan to an unsecured one for obvious reasons. I could have obtained a secured loan from BankWest but needed the car here first - not going to happen.

We then got creative and I have financed my car using their Mastercard Lite product with an interest rate of 9.99%, which is less than their unsecured loan rates and no minimum number of months to pay it off. All I had to make sure was not to tell them what I was using it for. The amount of credit you will get depends on your financial position.

Cheers, Al

[NIZ30]

9.99% How long is this for? Most cheap credit card rates are only for the first six months, then up to 14-19%.

[Guest Rhino]

I got an unsecured loan of $28K for my GTR before I had even found it at auction, and I'm a 21y.o. that earns probably half what most of you guys do.

The reason why I got the loan is that I have no expenses, my income is totally disposable (or was). Banks take things like children/child support, house loans/rent, living expenses a lot more seriously now, they even asked me if I had a mobile phone and if so how much did I pay a month!

I was really suprised at how easy it was to get my loan, phone up Westpac/Challenges' loan enquiry line (freecall) 30 mins later they had all the info they needed and went to work on my details to see if I was too much of a risk. From memory it took a week to get the approval finalised and they even rang to confirm on a Saturday, 45 min. later I had bought my GTR at auction:D

Just ring some places Kim and seee how you go.