bank loan, how hard is it to get approved ?

[someonestolecc]

Oh. Also they tried to sell me some bullshit insurance/protection on it which would have made them a packet and done nothing for me if Id have claimed it.

Keep your wits about you - it's a bank.

[Revhead]

Loan insurance is not worth the reams of paper it's printed on. Well the policy I was required to take out (as the loan was over $x, don't remember the amount) was completely useless when I needed it anyway.

[Raikkonen]

I'm interested in finding out how this goes, as i'm also looking to take out a loan for my car within the next month...

My situations a little bit better, i've saved up 6 grand in past 3 - 4 months but i have 2 casual jobs which maybe bite my behind

One of the jobs i've been at for about 10 months the other just over 3 (which i think is the safety threshold)

[ecl]

i dunno how much you can borrow.. try st george and the loan calculators

i think it helps if you have an account with that bank also

e.g. i have a st george account

comm bank turned me away and st george said ok =)

[imperium]

shit man... i got two questions how long have to been saving to buy a skyline.... or did your parents give u money for it? And what skyline ?

[skylinedrifter]

saved it all up, took like a good 4yrs. im going for a gtst r33.

[IMPASN]

hey wat amount loan r u gettin an over how many years?

[MR R32]

I doubt that you would get approved unless you can con you parents to go in with you for security...

You still have to pay insurance, petrol, rego, maintenance too remember.... This could mean that all of your income will be absorbed by owning a Skyline..

Buy a Datto, and do it up with the money that you are SAVING. If you are worried about your credit rating going bad, then you shouldnt be playing with fire while you are not really in the position to be doing so...

[ipg]

why would you get a loan for a depreciating asset?

it just doesnt make fiscal sense.

[slow13dude]

why would you get a loan for a depreciating asset?

it just doesnt make fiscal sense.

Buying a car full stop doesn't make fiscal sense.

But like me, there are people that took out a loan because they wanted their Skyline because they didn't want to have five years of their life pass by before they got it.

Getting a loan can be the difference between getting a GTST and dreaming about a GTR, or just going for it.

[Raikkonen]

i'm gonna go for mine sometime after newyears maybe next thurs - fri

i'll let ya's know how i go

[skylinedrifter]

i just did the commo online thingy and got approved. w00t. but its only for 6k . better than nothing i guess.

[chaos]

have the banks actaully rang and approved it yet?? most cases you would still need to go to the bank and fill out forms. Most online forms are just a first stage approval.

[skylinedrifter]

yeh, they still have to ring me. its just basically showing the orignal documents of pay slip, bank statement etc.

[armbrecht]

hrmm steveL, i dunno. they make u read this full page privacy note and on it, it mentions something about disclosing your credit rating details with other banks. dunno what they intend to do. hrmmm...

My banking history seems ok and everything. ive got a 2000 dollar saver account and my  

other account has around 500dollars which i use daily.

i would usually go to my parents for money. but since this is going towards a "skyline" they dont want to help me out becoz they absolutely hate me buyin it in the first place, im still having fights and arguements about buyin the line. stupid parents.

so yeh, my parents would never be my guarantor. really, im all by myself with buyin the line .

i feel sorry for ya. my parents wont let me get anything else BUT a skyline

i wanted a honda civic initially :'(

personally, i think $6000 is a bit too much for you to borrow on a casual job of less than $200pw.

[jimmy 00]

Skylinedrifter,

my advice is definately do not lodge your form over net/phone. go in and speak to someone at the bank. i know its a pain in the ass, but make an appointment (with the manager if you can). it make a huge difference. i was reJected twice on 20k earning $900-$1100 p/w when i applied online, but when i went in and saw someone at the bank they approved me the next day. aparently something about actually goin in and presenting yourself??? go figure.

also, your banking history is a big thing. my bank manager said that they look at a steady savings record, look at getting a savings account and putting even $20 p/w into it. it will help heaps with a home loan in the future too.

[z3n2k]

i would like to see how this is going.. since i am earning just under 50k a year working full time and considering buying a r34.. since i already have my r32 which i am going to see for 15k.. thinking how much money i would need to borrow since they approx 30 - 35 for a stock one on road that is..

would be interesting to see if he gets it.

Honestly save the money for your first car or go get a better job maybe..

Part Time employment is so much easier to get a loan with.

[ATTN]

dude depend on a few issues

1. your credit history (no fualts)

2. how much you earn a year

3. how much you want to lend

you have to have a good credit history eg. if you own a credit card and always pay it off, thats good cause thats a few thigs they'll look ,

but if you dont have a credit history is all so a bad thing because then they wont know if you are able to pay off the loan if you know what i mean it can get confuessing

try to get a credit card first then save at least $2000 to be safe

and show the bank you got a stead income going into you account and you sure be alright

good luck with getting the loan i work in the insurance bussiness so i kinda know the go.

[angel21]

You need payslips which your employer is required (by law) to give you, they may take into factor any assets you own TV, bed, computer etc. but be very careful not to bite off more than you can chew. What happens if you have problems with the car? use an excel sheet as a budgeting tool and be honest with what you can expect to spend. Goodluck

[chaos]

yeh it may be a bit much considering your only on casual emplyoment, so you can get fired without warning then you could be in trouble finacially, as was said try to get into full time or part time emplyoment to be on the safe side.