NUTTTR
Jun 25 2003, 01:02 AM
I'm currently a CBA customer and am gonna ring them tomorrow anyway, but it says the maximum "personal" loan they give is 20K.... However, every other bank seems to have listed new car loans, etc, etc, this will be for a new car, and i'm looking to borrow as much as possible, for obvious expenses such as insurance and stuff as i get myself setup as such. I'd really prefer to stay with CBA, but, if i go to another bank will it be "harder" to get a loan?
Would they lend me any less? I earn over 30k a year before tax, i'm pretty much assuming they'd lend me almost what i earn over a long term? Hmmmmmm....
Any thoughts?
Aaron
Anonymous
Jun 25 2003, 01:30 AM
How long have you had your job?
you must be employed at the one location for longer than 12 months for most banks to even look at you
St George was great with my car loan, all banks will approve u for an ammount, CBA are one of the hardest to get decent $$ from though, and they DONT take into account the fact that u have banked with them in the past, not like ST george and credit unions do.
either go St George or a credit union such as State West is my opinion
[white lie]
Jun 25 2003, 05:23 AM
I have heard CBA are hard to get money from, but i would have thought they'd take into account how long you've been with them. Its the only way i can explain how they approved my loan...ridiculous amount on a very small wage at the time!
They do tend to say max of $20K but i think thats only in personal loans. After that you have to go to a different type of loan. Which should mean a lower interest rate too...
Mick
Jun 25 2003, 10:13 AM
QUOTE
Originally posted by NUMB:
CBA are one of the hardest to get decent $$ from though, and they DONT take into account the fact that u have banked with them in the past, not like ST george and credit unions do
but if he goes to st george he HASNT banked with them in the past????
NUTTTR
Jun 25 2003, 11:03 AM
Weel, i'm past probation in my current job, so that means i'm permanently employeed, basically contract, so that's permanent, previous job was there for um....... 3 years So yeah.......
Dunno........ they were heaps easy to get a loan from before for my car (when i was a student earning **** all!) so i was hopeing it would be the same, doens't sound like it tho
BlackIce
Jun 25 2003, 11:23 AM
Don't hold your breath.. when I was on $32k a year they wouldnt even lend me $10,000 !
Someone like Capital Finance would be a better bet for you..
umop-3p|sdn
Jun 25 2003, 11:52 AM
I found the CBA to be pretty good with loans. They gave me a loan for $8500 for my first car when I'd only been employed for about 3 months. Since then, they've given me another loan for my current car (about $15,000). The interest rate is pretty good too. The only difficulty I had was when I was applying they told me they would only lend the purchase price of the car, plus the price of stamp duty. They said they wouldn't lend me money for insurance (as it is a recuring expense). They also told me I would need to give them some kind of proof of what I spent the money on. After the loan was funded though, I never heard from them again, and spent the money on whatever I wanted
Maybe the guy I talked to on the phone had no idea.......
And for the record, I've been employed at the same place for 2 years, earning about $35k
MrAUII
Jun 25 2003, 07:01 PM
yeah $20,000 personal loan sounds about right for you. if you want more get a car loan the interest rate is much lower and they give you heaps more but also secure the car to the loan. you dont pay they take your car.
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