Finace Broker?
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ScottyTav
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- Joined: Sun Feb 20, 2005 6:00 pm
Finace Broker?
Hi, does anyone here know of a GOOD finance broker for a personal/car loan up to $20,000? It is for my fiancee and is a bit of a hard one becuause she is a temporary resident until July when we get married. Thanks!
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FTO338
- Oldtimer
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- Joined: Sun Feb 09, 2003 6:00 pm
- Location: Port Melbourne: Pimping with RX400h, B200 Turbo.
I use to be in finance, so apart from you normal credit rating, incomes & so on, there are few things I can think of if someone is willing to do this for you.
1. You have to be a guarantor, which mean you be liable for all the debt if your partner decided not to repay the loan. This is also depends on your financial as well.
2. A secure loan, which means you need to use another asset like a house as security, vehicle doesn’t count as it's a depreciating asset.
Which state you from? All my finance contacts are base in Melbourne.
1. You have to be a guarantor, which mean you be liable for all the debt if your partner decided not to repay the loan. This is also depends on your financial as well.
2. A secure loan, which means you need to use another asset like a house as security, vehicle doesn’t count as it's a depreciating asset.
Which state you from? All my finance contacts are base in Melbourne.
DISCLAIMER: The above text is the personal opinion of the author and does not represent the indisputable truth. The author is not responsible for any deaths, injuries or mental illness caused by the above statments.
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payaya
- Oldtimer
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- Joined: Sat Sep 06, 2003 5:00 pm
I'm in the legal side of things when it comes to finance.
How long has your girl been working for??? If less than say three years then you have to be the security is basic terms. If she defaults then your the man!
Borrowers always take into consideration if your an aussie citizen and also how long you have been living at your current address. Skippers cost money. If they cannot contact you it would costs $150.00 minimum to find you. Thats just for your number, if you dont answer your phone $100.00 at least for an agent to attend a given address.
If she has been applying for credit cards, loans etc often in recent times then that would be recorded with baycorp. If she has outstanding debts to creditors this would also be taken into consideration.
I work with massive finance companies who send us around 20 Million dollars is lost renvue. Dont fall into the trap of high inerest rates. Imagine a loan with a 20% interest rate over five years. You would be paying massive amounts of interest! If you default they would take the security (car) off you sell it at auction for crazy cheap prices then slap you with a massive residule. Not only do they slap onto you whats remaining on your debt but all the interest they would have collected after your contract has ended. Always look at your contract amount whem taking out a loan. Taking out a $20000.00 loan your contract amount could be close to $30000.00. So bascially your paying $10000.00 interest untill you pay off everything. Dont even think of selling the car, you cant. Any vehicle subjected to fianance would not happen untill the encomberace is taken off the vehicle.
A lot of people believe not paying, a creditor will forget about it. Fianance companies earn so much interest they can afford to put you down if they feel like it. Recently i requested we proceeed legally with 5 debts. Guess how much it costs the client?? $40000.00. Seems a bit much does it?? Its really not. You go guarrantor for a reason you have the assets to back someone else up when they fail. I see people houses taken away for $5000.00. I see families ruined!
If you go guarrantor make sure its right because if something bad happens you could lose your car, house if your paying one off and worst comes to worst bankruptcy.
How long has your girl been working for??? If less than say three years then you have to be the security is basic terms. If she defaults then your the man!
Borrowers always take into consideration if your an aussie citizen and also how long you have been living at your current address. Skippers cost money. If they cannot contact you it would costs $150.00 minimum to find you. Thats just for your number, if you dont answer your phone $100.00 at least for an agent to attend a given address.
If she has been applying for credit cards, loans etc often in recent times then that would be recorded with baycorp. If she has outstanding debts to creditors this would also be taken into consideration.
I work with massive finance companies who send us around 20 Million dollars is lost renvue. Dont fall into the trap of high inerest rates. Imagine a loan with a 20% interest rate over five years. You would be paying massive amounts of interest! If you default they would take the security (car) off you sell it at auction for crazy cheap prices then slap you with a massive residule. Not only do they slap onto you whats remaining on your debt but all the interest they would have collected after your contract has ended. Always look at your contract amount whem taking out a loan. Taking out a $20000.00 loan your contract amount could be close to $30000.00. So bascially your paying $10000.00 interest untill you pay off everything. Dont even think of selling the car, you cant. Any vehicle subjected to fianance would not happen untill the encomberace is taken off the vehicle.
A lot of people believe not paying, a creditor will forget about it. Fianance companies earn so much interest they can afford to put you down if they feel like it. Recently i requested we proceeed legally with 5 debts. Guess how much it costs the client?? $40000.00. Seems a bit much does it?? Its really not. You go guarrantor for a reason you have the assets to back someone else up when they fail. I see people houses taken away for $5000.00. I see families ruined!
If you go guarrantor make sure its right because if something bad happens you could lose your car, house if your paying one off and worst comes to worst bankruptcy.