Piscine75 Posted December 30, 2011 Report Share Posted December 30, 2011 Can anyone throw some light on this? Banks rates seems very high but have been told there is lower out there but cant find anyone? Thanks in advance Quote Link to comment Share on other sites More sharing options...
lornarees1 Posted December 30, 2011 Report Share Posted December 30, 2011 toyota are coin 3.9 % on brand new cars at the mo , last day 2moro tho Quote Link to comment Share on other sites More sharing options...
Guest pat and mike Posted December 30, 2011 Report Share Posted December 30, 2011 you may find that if you are new to Aus you aren't on any credit listings and therefore no-one will touch you with a bargepole....and those that do may make you pay. Quote Link to comment Share on other sites More sharing options...
Piscine75 Posted January 2, 2012 Author Report Share Posted January 2, 2012 you may find that if you are new to Aus you aren't on any credit listings and therefore no-one will touch you with a bargepole....and those that do may make you pay. You are so right. Can't get anything below 11%. Criminal Quote Link to comment Share on other sites More sharing options...
basicweb Posted January 2, 2012 Report Share Posted January 2, 2012 I have a mate who's an independent loan adviser, he specialises in new arrivals over here, if you are interested I can pm you his details. can't guarantee he can help, but pretty sure if he can he will be a lot cheaper than the car financiers. Tracey Quote Link to comment Share on other sites More sharing options...
Guest ChrisMich Posted January 3, 2012 Report Share Posted January 3, 2012 So how do you get a credit rating if you are new and on a 457 visa? Quote Link to comment Share on other sites More sharing options...
Guest pat and mike Posted January 3, 2012 Report Share Posted January 3, 2012 painfully slowly !! we convinced our bank - or rather the bank manager convinced "Head office" to give us a credit car with - can't remember if it was $500 or $1000 limit. it meant we'd got on the credit radar. after a few months we rang the credit card co, said we had purchase we needed to make and it was $1500 and the person on the other end tapped away at the computer and said the limit seemed very low, would $5k be more suitable? once we had paid a couple of months of cr card bills we applied for another card from another bank and got one with a few grand on. six years on they keep writing to us saying they've upped our limit...think its just getting on the credit register is the problem. i know banks now seem to be targeting immigrants so it may be easier to break in !! Quote Link to comment Share on other sites More sharing options...
bensdad Posted January 4, 2012 Report Share Posted January 4, 2012 All we could get was 11% but we were happy with that as we were new arrivals and the car was heavily discounted as well so it all come out in the wash. Our finance co was st. George. Quote Link to comment Share on other sites More sharing options...
lornarees1 Posted January 4, 2012 Report Share Posted January 4, 2012 We got a car from Toyota with apr of 3.9 the original finance price was 32000 but they would only give us 29000 I think it depends on your wages as well my oh is in the mine and we on a 457 visa so could only get 46 months of finance Quote Link to comment Share on other sites More sharing options...
Andyrob Posted January 4, 2012 Report Share Posted January 4, 2012 If you can do it through your employer, a novated lease is fairly easy to arrange. I got one after 2 weeks being employed. They can source some good deals on car prices too, if you want a new car. Other option is commonwealth bank. They financed my for my ex partners car. By the way anyone interested in buying a 3 month old Hyundai i30??? Need to get rid of it lol Quote Link to comment Share on other sites More sharing options...
Piscine75 Posted January 4, 2012 Author Report Share Posted January 4, 2012 If you can do it through your employer, a novated lease is fairly easy to arrange. I got one after 2 weeks being employed. They can source some good deals on car prices too, if you want a new car. Other option is commonwealth bank. They financed my for my ex partners car. By the way anyone interested in buying a 3 month old Hyundai i30??? Need to get rid of it lol Hiya, Forgive my ignorance but what is a novated lease? Quote Link to comment Share on other sites More sharing options...
Andyrob Posted January 4, 2012 Report Share Posted January 4, 2012 It's an arrangement between you, the lease company and your employer. The lease payments (plus fuel and maintenance if you want to) are taken off before you are paid. Some comes off before tax, and some afterwards. So there are tax savings with it. Have a look at smartsalary's website, they have all the info on there Andy Quote Link to comment Share on other sites More sharing options...
Piscine75 Posted January 5, 2012 Author Report Share Posted January 5, 2012 It's an arrangement between you, the lease company and your employer. The lease payments (plus fuel and maintenance if you want to) are taken off before you are paid. Some comes off before tax, and some afterwards. So there are tax savings with it. Have a look at smartsalary's website, they have all the info on there Andy Hi Andy, Thanks for such useful information. Do you know if you are eligible on a 457 visa? Quote Link to comment Share on other sites More sharing options...
Andyrob Posted January 5, 2012 Report Share Posted January 5, 2012 Yeah - I'm on a 457 visa, and had only been on it 2 weeks when I got the car. It's a wee bit more complicated than if you are a resident, but it's not that hard. I was able to prove some savings I have in the uk, so it was simple - but definitely worth doing. You shouldn't have too much problem Andy Quote Link to comment Share on other sites More sharing options...
Piscine75 Posted January 5, 2012 Author Report Share Posted January 5, 2012 Hi Andy just wondering if this is different to the LAFHA? Quote Link to comment Share on other sites More sharing options...
Andyrob Posted January 5, 2012 Report Share Posted January 5, 2012 Yeah completely. LAFHA is an allowance you can claim for being here on a 457. I believe it reduces your tax, but I'm not sure. The novated lease is just a different way of doing a normal fully maintained car lease that means your payments come off Before your salary is paid and you make some tax savings. Andy Quote Link to comment Share on other sites More sharing options...
Piscine75 Posted January 5, 2012 Author Report Share Posted January 5, 2012 HI Andy do you have to go through one company or can you get your finance from any company and pay it through via your salary? The reason I ask is I have just both a car and got my finance arranged. Quote Link to comment Share on other sites More sharing options...
Andyrob Posted January 5, 2012 Report Share Posted January 5, 2012 It depends on which company you go through. I know that smart salary will let you sort the car and finance yourself, provided that the finance company will meet there conditions (there are only 2 and they are to do with the repayments). But if your finance is approved but not paid out doesn't mean you need to go through with it - worth getting a quote elsewhere at least. If you are straight out financing then a lease may well work out cheaper per month. The only real condition with the novate lease I found was that the lease has to end 2 months before my visa expires (ie my lease is 3 years 10 months) but didn't bother me as I am going for residency anyway. Regards Andy Quote Link to comment Share on other sites More sharing options...
Guest Jillie14 Posted March 14, 2012 Report Share Posted March 14, 2012 I would agree with Andy and go for a novated lease - see enclosed info below - happy to help if more required :ssign15: Clickhere Quote Link to comment Share on other sites More sharing options...
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