| The Pub Talk about anything not relating to cars or Commodores in general. |
24-09-2007, 04:38 PM
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Ride: VN Calais 5L
Join Date: Dec 2006
Location: Geelong
Posts: 225
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finance/loans
hey all. im looking at a 5000 personal loan and i was just wondering where you got yours? i went and applied for one at bendigo bank today but couldnt get it cos they wanted me to get comprehensive insurance with the car i was gunna buy which is ridiculous cos im notr spending 2000 on insurance for a car of equal value.
any suggestions?
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24-09-2007, 04:50 PM
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Yeah, Punchy's alright ay
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Ride: Foam tuned VS Senator
Join Date: Feb 2007
Posts: 1,607
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hey mate do a search there is about 3 of these threads hangin about
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24-09-2007, 04:59 PM
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In a commodore once again
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Ride: 1992 VP V6 5spd & 1988 VN Wagon ( Wrecking )
Join Date: Aug 2006
Location: Morphett Vale, SA
Posts: 1,670
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i got mine ( years ago now ) through ANZ, i got a discount though cos we put it under mums name and she works there!
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24-09-2007, 05:02 PM
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.
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Ride: 'Enhanced' Y Series Senator Sig
Join Date: Feb 2005
Location: Geelong
Posts: 5,645
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RACV perhaps.
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24-09-2007, 05:24 PM
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Ride: VN Calais 5L
Join Date: Dec 2006
Location: Geelong
Posts: 225
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do you have to be an racv member for that?
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24-09-2007, 05:41 PM
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.
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Ride: 'Enhanced' Y Series Senator Sig
Join Date: Feb 2005
Location: Geelong
Posts: 5,645
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Sure don't.
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24-09-2007, 05:56 PM
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Ride: VN Calais 5L
Join Date: Dec 2006
Location: Geelong
Posts: 225
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okay, thanks.
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24-09-2007, 06:41 PM
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The Bitch Donating Member
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Ride: VT Acclaim S1 & VZ SV6
Join Date: Nov 2003
Location: Adelaide
Posts: 729
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No one will give you finance for a car unless it you have comprehensive insurance. This is so if you write off the car or it gets stolen, they have a way to recoup the balance of the loan.
You will find it is written as standard into a loan that you must have comprehensive insurance and if you don't (some take the insurance out then cancel it) they can recall the loan at once.
C.
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You're only young once, but you can be immature forever.
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24-09-2007, 06:46 PM
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?!?
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Ride: ZZR250
Join Date: Mar 2007
Location: Atherton, QLD
Posts: 231
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Just get an unsecured personal loan. That way you dont expressly have to use it for the car and you dont need to get insurance. At least thats how I thought/heard they worked...
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24-09-2007, 07:25 PM
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Ride: vz commo&vs caprice
Join Date: Sep 2007
Posts: 36
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Look ata citibank low rate credit card,cheaper cash withdraw rate the unsecured personal loan
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24-09-2007, 07:27 PM
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Drop A Patch....
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Ride: VS Clubsport, GK Sigma Turbo, GJ Sigma V6 Project
Join Date: Aug 2005
Location: Mt Martha, Vic
Posts: 1,289
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If its a personal loan it should matter about insurance... but finance it does.
I got my loan with commonwealth, no problems. They knew it was for a car and they offered to give me a quote for insurance on the car, but was already insured and they didnt care.
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24-09-2007, 09:48 PM
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Ride: VN Calais 5L
Join Date: Dec 2006
Location: Geelong
Posts: 225
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Quote:
Originally Posted by Sashyre
No one will give you finance for a car unless it you have comprehensive insurance. This is so if you write off the car or it gets stolen, they have a way to recoup the balance of the loan.
You will find it is written as standard into a loan that you must have comprehensive insurance and if you don't (some take the insurance out then cancel it) they can recall the loan at once.
C.
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my brother got a 6G loan for a car without having to get compo.
a mate got a 5G loan for a car without having to get compo and she just worked at maccas. go figure. both at the same bank. maybe they just dont like me.
not going for a credit card. cant repay as quick as they'd want it
i applied for a personal loan not a secure loan anyways, but didnt wanna give it to me. bugger.
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24-09-2007, 10:16 PM
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So Wet For You!
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Ride: VP Calais International, VP Berlina LX Wagon
Join Date: Jan 2005
Location: SOUTH OZ
Posts: 3,276
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Like i told you on msn, they will want some form of collateral
You could use the VN as collateral, to approve the loan. I think the mistake you made was telling them you were buying a car. When i got my loan for my VP (14,000) i used my other 2 cars as collateral, and the VP was fully mine. Both cars didn't need full comp insurance.
The girls exacts words when i asked how do you know what i'm spending the money on, she said 'we don't, for all we know you could be setting up hydro, we just hope you buy the car'.
I'm still not sure if they will want full comp using your VN, thats just how they did it with me.
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25-09-2007, 09:13 AM
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Smarter than you - JC Mod
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Ride: Mercedes 280SE
Join Date: Mar 2005
Location: Warrnambool
Posts: 3,038
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Just to put a different spin on this...
You are having trouble getting a loan and would have trouble paying back a credit card. You refuse to get comprehensive insurance because it is too expensive...
Have you thought it might not be the best time for you to be borrowing money? Not being rude but if all the regular options are too difficult then it might not be safe just now. Banks obviously consider you a risk not worth taking.
Also, why are you trying to get 5k when as you say the car is only worth 2? lesser the loan the more likely you are to get it. In fact, why not try to save 2k in the next few months. You'd be amazed at the money you'll save by NOT having a loan.
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