Finance & Insurance?

[RTHRTY3]

Hello people.

Just after the best place to get finance (loan) and insurance, prefably the cheapest ones. Any help is appreciated.

Thanx inadvance.

[ix9]

*cough* use the search button *cough*

But i'll give advice anyway...

Finance.. Good Luck, 99% of companies wont provide a secured loan against a grey import vehicle. You have to go unsecured (and thus, cant borrow as much)

Insurance, good luck. depending on your age (ie, if your over 21) you have a much better chance at getting insurance that 17-20yo;s.

[docile]

It all depends how old you are. Im 20 and i've just been through the same thing.

RAC gave me a great loan with great repayments etc. Easy to deal with and in THEORY had it all worked out in under 2 days.

The worst part was like Strich9ine said. They hate grey imports (silvia's, skylines, 180sx etc), which i didnt find out untill the last minute (which is where i had big problems). Unless you have a 20% deposit they wont hand over a cent.

If your after a 200sx, wrx, falcon, commy etc they'll have no problems whatsoever. Find a car, do the basic things and they'll write you a cheque.

Insurance will kill you, and if your around 18-21 expect around 3-$4000 from a company like Famous or Just Cars etc.

One thing is NEVER go through dealer finance. It can look good on paper, but it can cost you so much more

[GTS-t VSPEC]

Insurance is the real killer while your young, I go through Western QBE, but they don't take on any new imports:(

[MarkR33]

Howdy

Phat you may want to try a broker, I had a bit of trouble getting finance for my R33 Skyline . At the time i was only in a part time job. My main credit union wouldnt do a car loan as i was only in the job for a few months , RAC wouldnt do a car loan A: because the car was an import B: becuase the car was older than 7+ years

That is probably going to be the real killer not the actual 'getting finance for a grey import' its the cars age. Most will not have a problem financing relatively new cars such as R34 because they check up on the average value of the car in australia.

In desperation looking for finance i rang a few main stream banks and spoke to them about it , a guy from ESANDA finance (which is a partner of ANZ) advised me that most will not finance or even want to becuase they want to appear to be helping the australia job market (which is noble but stupid) . RAC is mainly the same or any type of automotive organisation

now im sure you want to stop hearing about the negative stuff ill tell you some positives. I have my skyline now but It depends on how you want to get there

Dealer finance (easy appears good but interest rates can be 12%+ upto 18%!!!!) which is what i was quoted

think of it like this

20000K Loan through a dealer

at 18% interest

Repayments over 5 years (without 18%Interest) = 4000

Repayments over 5 years (with 18% Interest) = 4720

= 23600 and thats just the interest added on

Admin fees +50$ a month

Stamp duty 3-7% depanding on what the dealer sets usually its 5%

Now the thing with dealer finance is that there is a list of terms and conditions a mile long , such as if you want to pay it off just say a bit more every tax year e.g 1000 extra every year to get the payments down, well guess what most of the time you cant

dealer finance is evil and should be destroyed by the son of rajab, some people can get better deals alls im saying is beware and read the fine print, if you were like me your eager and want a car and money now !!! but think what you sign tommorow will be with you for 5 years (much like a girlfriend)

in my opinion with all these factors i believe you should get yourself an EA falcon (jokes!!) get a personal loan

the interest rate varies from 9-11.5 percent less fees and if you want to repay it back earlier (WELL GO FOR IT TIGER!!)

the type of loan would more than likely be an unsecured (untiered) loan as the car is more than 7 yrs old and cannot be used for security

unsecured personal loan may cost a little bit more in interest such as a 1% difference which can total 100$ a year difference.

they are worth it becuase the security of the loan is there, its your car! not the dealers if you want to drift it into a pole then its your problem not the banks, the banks dont give a flying .... if you crash it as long as you make the repayments

if your lucky to get a secured personal loan also keep in mind if using the car as security then they may request you have insurance (which im sure you would get anyway)

I rang a few companies (major banks as more reliable) and credit unions. and out of all of them the NATIONAL was willing to give me a loan , not based on whether i had been in my job for a certain amount of time or what i wanted it for (tell them you want a dick englargment ) they dont care as long as you can pay and your income can meet your repayments

if you live at home with mum and dad even better, its not hard just perservere the world can seem against u at time ( as mat and me soon found out) but there is always someone willing to take your money from you

hope this has helped I work for a bank so if you need any more help or you want to ask me some questions about which companies i have tried then email me or leave me a post) i researched getting a skyline/insuring and getting finance for about 6 months

Insurance , well depends on what you really need

when i first got my r33 i insured it for 3rd party fire and theft through suncorp metway for $350 a year

comprehensive is a bit harder, im 20 so i tried a few

quoted young&Cool stock r33 parked in a company car park(if you drive to work) full compro = 2600(mods effect premium a ship load e.g i askedf if i had mags how much extra $400 on premium a year , exhaust 300$+++ it all ads up and dont even put down you park in a public car park premium ended up to be around 5000

Famous classic car insure r33 all legal mods (doesnt effect premium) for me 2600$ a year

they will match other quotes aswell so if you can get another quote they will match it which is good of them so email me and i can give you some details on where to get some quotes from

im sure you could get them down even more they are a good bunch to deal with , im just a little apprehensive about if iever have to make a claim through them as they are underwritten by an offshore provider that does not conform to australias credit control /insurance act/ so as much as famous are a good company they are licenced etc.. if their underwriter goes down the toilet then well thats stiff bickies to you !! but i think its worth the risk

well just have to cross that bridge ( i hope not) if we ever come to it

catcha

Mark

[docile]

Phat: Mark has some good points. OMG i just realised who he is

RAC can suck, but for an aussie car (and the age thing was never a problem) i would go for it. I got RAC insurance on my car for 2K (which is good because i dont exactly have a wonderful record and no NCB).

I dealt with Famous (actually went and saw / spoke with them etc) and to be honest, things dont make sense their. To many differences etc. It was going to cost me 3600 a year on the same car as Mark, with a similiar record, living in the same area etc.

They DIDNT beat the best quotes (their own) with me......

Phat, if your serious and having problems. PM Mark. He'll be able to point you in the best directions.

[wld33r]

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