![]() |
|
![]() |
#1 | ||
Spr Jenkins
Join Date: Mar 2006
Location: Melbourne
Posts: 597
|
Does anyone know where to get a personal loan at good rates? What criteria do they have? Do you need to have some sort of collateral in case of default of the loan? How does it woork. Any info would be appreciated. Thanks Joel
|
||
![]() |
![]() ![]() |
![]() |
#2 | ||
Starter Motor
Join Date: Oct 2006
Location: Adelaide
Posts: 15
|
Fair assumption that you are after a loan for a car. This IS Ford Forums.
![]() For a bank or similar, you need a job. Take a few pay dockets with you, not just one. You need 100 points of ID. Most banks or similar like you to open an account with them rather than just have a loan. For a car or bike, the bank will take a Bill Of Sale on the vehicle, meaning if you default on the loan (don't pay), they can legally take the car/bike away. Along with your credit rating. If you want to pay the loan in, say, 3 years, take it out over 5 years. You can still pay in 3 with no penalties, but you have the option to lessen your payments if times get tough. Bank will explain. Best bet is to talk to a bank. AVOID Credit Agencies (GE Money and their associates) like the plague! They are not worth the extra hassle, nor the extra interest you pay.
__________________
Te pilos recidene volo et opus solidus capere ![]() |
||
![]() |
![]() ![]() |
![]() |
#3 | ||
Just slidin'
Join Date: Sep 2005
Location: Brisvegas
Posts: 7,791
|
Fancy you should ask. I went today to get a farily large (for me) amount so I can pay off my car completely, a couple of grand of music equipment, a holiday and another small 4 cyl. They were all frothing to give me the money, so I went with the one that suited me. I find out on Monday if I get the loan. Im only 21 by the way.
The differences were: Commonwealth: $135 establishment, 11.2, 13.2 or 15.2% depending on loan amount, your credit checks, etc. $135 extra if you pay it out in the first two years ($15000), $7 a month account fees, and you can redraw on extra payments you have made, if you go the variable rate. Bank of Queensland: $150 establishment 11.49%, $5 a month account fees, and a $150 fee if you close within a year. No redraw. Interest is not fixed. Suncorp: $175 establishment, 12.55%, wasnt told account fees, used to be $4.50, a $300 fee for cancelling within one year, no redraw, interest not fixed. They all asked for 100 points ID, three most recent payslips and all other payment slips for any other debts, plus three last bank statements of your savings account. Hope that helps.
__________________
MD Mondeo - For the family
NP Pajero - For the adventure |
||
![]() |
![]() ![]() |
![]() |
#4 | ||
Regular Member
Join Date: Nov 2006
Location: Melbourne, Victoria.
Posts: 179
|
Read my lips trendsetters, PLENTY CO OP is the best you can get.
|
||
![]() |
![]() ![]() |
![]() |
#5 | ||
FF.Com.Au Hardcore
Join Date: Oct 2006
Posts: 1,652
|
Never needed one, don't believe in them.
|
||
![]() |
![]() ![]() |
![]() |
#6 | ||
Professional Mouse Jockey
Join Date: Nov 2005
Location: SE Vic
Posts: 3,185
|
RACV has 9% interest loans. Dunno about fees and charges etc. Check out their web site for all the info.
__________________
Isuzu MUX for towing horses - currently no Fords in the stable Time flies like an arrow; fruit flies like a banana. Groucho Marx
|
||
![]() |
![]() ![]() |
![]() |
#7 | ||
Spin 'em Habib !
Join Date: Jul 2005
Location: Cranbourne Victoria
Posts: 3,854
|
is this for your blower kit ??
Go With RACV , Thats who im with ...
__________________
AU2PWR |
||
![]() |
![]() ![]() |
![]() |
#8 | ||
Join Date: Dec 2004
Posts: 9,292
|
most banks like to see that you can save for a start.
each commercial entity has their own criterior of credit. you can PM me for further info/example if you like but i wont get into it here, its too long. do some research, ring and ask. explain about you, your financials and credit history. ask them what they could do for you if you decided to go with them. they wont tell you straight up what % rate, but ask a ball park figure according to your circumstances. ask for all fees etc. if you go further than the initial contact, you will have a credit check and this will be place on your credit file as an application of credit. the more of these you have the harder it is and the higher the interest rate you will get. spend the money, buy your credit file and see what it looks like. you will be surprised. your interest rate WILL depend on this + the money you earn, what you do, where you live/have lived, savings you have, etc. dont lock yourself in till you are fully aware of everything that you are doing. ask the hard questions, put the pressure on and dont just take the first company that says YES. |
||
![]() |
![]() ![]() |
![]() |
#9 | ||
It'll Buff Out.
Join Date: Dec 2004
Location: Newcastle NSW
Posts: 1,298
|
The easiest way to get a loan from a bank is prove you dont need one.........
|
||
![]() |
![]() ![]() |
![]() |
#10 | ||
Regular Member
Join Date: May 2006
Location: west of melb
Posts: 192
|
click below tell joe that den (thats me) put you on too him
he will lead you to the best loan lender that suits your needs den |
||
![]() |
![]() ![]() |
![]() |
#11 | ||
V8 Ghia & BF2 XR6 + Wagon
Join Date: Dec 2004
Location: Adelaide
Posts: 1,569
|
Generally a computer will "pre approve" your application, then someone will go over it.
If you meet the computers criteria all should go well. Go to a bank website and have a play around with their loan calculators (some on www.commbank.com.au for personal loans) Enter your income & outgoings and it will say "you MAY be able to borrow up to $x,xxx" Borrow just under what it says you can and you should be fine. |
||
![]() |
![]() ![]() |
![]() |
#12 | |||
FF.Com.Au Hardcore
Join Date: Jan 2006
Location: Sitting on the Dunny , Contemplating "What to do Next".
Posts: 505
|
Quote:
Once you have dealt with a financial instiution , try and stick with them , they'll have you on record and makes it a lot easier for following loans if needed .
__________________
XB Futura 302 , Wife ED Fairmont ,1994 Polynesian Green. Daughter No 1 KJ Laser , Daughter No 2 KH Laser Keeping FORDS in the family (Embarressment :yeees: , Son now has a "Camira" ![]() "Look Right , Look Left , Look Right , BEFORE crossing Roads"
|
|||
![]() |
![]() ![]() |