pegg Posted November 21, 2016 Report Share Posted November 21, 2016 Hi all, EEK another money question ;o) Anyhow , things are going fab and we are wanting to apply for a small loan - ( VW kombi ) ……… So just wondering we have spoke to one broker who says to use her over a bank . Just wondering if any of you guys would recomend a broker over a bank etc ? Thanks Guys Quote Link to comment Share on other sites More sharing options...
ali Posted November 21, 2016 Report Share Posted November 21, 2016 We got a car loan from the RAC which included road side assistance. I'd say shop around and see who offers the best deal. Quote Link to comment Share on other sites More sharing options...
Weedolly Posted November 21, 2016 Report Share Posted November 21, 2016 Of course she is going to say you should use her! how do you think she makes her money Quote Link to comment Share on other sites More sharing options...
pegg Posted November 21, 2016 Author Report Share Posted November 21, 2016 Of course she is going to say you should use her! how do you think she makes her money Aww yes i know that @Weedolly ….. im just thinking that a broker may have more options - as our loan is for a vintage car ( Had Old vws all our life and friend of ours runs highly sort after VW restoration company ). So yep its for a VW camper ( Kombi ) - so think it will be unswecured loan . Quote Link to comment Share on other sites More sharing options...
pegg Posted November 21, 2016 Author Report Share Posted November 21, 2016 We got a car loan from the RAC which included road side assistance. I'd say shop around and see who offers the best deal. Thanks @ali but due to loan being for a classic car - im sure car loans are for new cars . But as we've been here for 6 months not sure if we have a credit score yet ? but should be ok as permenant visa holders - employed- all bills paid before dead line - And savings going well ………… So yup we will see ) Quote Link to comment Share on other sites More sharing options...
Weedolly Posted November 21, 2016 Report Share Posted November 21, 2016 Go for a personal loan from your bank not a car loan. Last time we bought a car paid half from savings, got a personal loan for the other half over 5 years but overpaid it and had it gone within a year! Just did it that way so we still had some money in the bank. Then you are not tied to a certain term e g 5 years and lots of interest. I know everyone is not in a position to pay off that quickly but every bit extra helps and brings the interest down Quote Link to comment Share on other sites More sharing options...
pegg Posted November 21, 2016 Author Report Share Posted November 21, 2016 Yes, i think because its a classic vehicle - personal loan best and we can use savings too . Quote Link to comment Share on other sites More sharing options...
elfie Posted November 22, 2016 Report Share Posted November 22, 2016 If you take hp you payva forfit if you pay it off early. If you take a loan with your bank you can make extra payments to pay off early. Or just save and have no loan Quote Link to comment Share on other sites More sharing options...
Sashamb Posted November 30, 2016 Report Share Posted November 30, 2016 Hi all, EEK another money question ;o) Anyhow , things are going fab and we are wanting to apply for a small loan - ( VW kombi ) ……… So just wondering we have spoke to one broker who says to use her over a bank . Just wondering if any of you guys would recomend a broker over a bank etc ? Thanks Guys Hi Pegg Have you got enough equity in your home? If so, you can use the equity for personal investment, which the vintage/classic car can fall under. As for bank V broker. I say go with the broker (and yes i would say that as i am a broker) but the bank will only be able to tell you about their products. CBA will not tell you about ANZ's products. Broker can compare all the suitable lenders, give you more choice, and save you the run around. Best of all it wont cost you anything to use a broker. Also about car finances, be aware of the 0% finance that some car yards offer. Where they will make their money is on the price (which will be higher) of the car and you will end up paying lot more. In any case, car dealerships finance is much more expensive and you can get a better deal anywhere else you go. Quote Link to comment Share on other sites More sharing options...
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