Finance And Importing

[DJBarnstar]

Hi Team,

I have a question in relation to obtaining finance for an imported vehicle.

I would like to import an Elgrand E51 Autech through a broker.

Usually I would pay with cash, but in this circumstance It will be for a business, so I will want to use finance for tax purposes.

How do I go about obtaining finance for an OS vehicle, and which lenders are used to the process?

Thanks!

[GH05T]

you generally will not be able to use the vehicle as encumberance and if you can i wouldnt like to see the rates and fees.

i do vehicle finance for a living and even i put my imports on personal loans (peoples choice are about 6.9% for 5 years with low fees)

for business it makes it hard. speak to your accountant to see if the loan can be in your name if self employed or somehow accounted under the business as a director or benificial shareholder.

whats the structure of your company (pm me if you would like)

[DJBarnstar]

Thanks for the reply. Looks like I'll do it under a personal name. Is it hard to get finance for an import - how does that work if the finance company can't access the vehicle?

[GH05T]

ah, yeah the cars needs to be regoed here, sorry didnt read that properly, you may need a simple personal unsecured loan which is much higher rates

[Alkatraz]

If you were in WA i could put you onto my contact at P&N Bank who have unsecured loans at 8.5% right now. No good in NSW though. Do some research and see if you can find some any decent unsecured rates over there. Someone might have a deal going.