car finance when newly arrived i oz??

[sia5]

Hi we are arriving in oz in 10 weeks and have just been told that we prob wont be able to get car finance until we have been in oz for more than 6 months?? is this true has any other kiwi expats had trouble getting a car on finance upon arrival??? thanks

[Chickadee]

You may find restrictions if you try to go through the bank, but other lenders are able to help you. When we arrived from Canada we were unable to get a bank loan to buy a car. But we bought through a large used car dealership and they were able to do the financing for us, at similar interest rate & terms.

ETA - we were on a work visa, which may have been why the banks weren't able to cover us. I vaguely remember that it had to do with our residency status (ie we weren't residents), so it may depend on NZ/Aus agreements and what your status is when you arrive.

good luck

[JosieJo]

There are some caryards that advertise new arrivals no problem, I guess they sting you with the interest and you'd get a much better deal if you buy privately. As a rule you won't get finance from banks if you haven't been in a job at least 3 months (past the probation period).

[sia5]

:)Thanks for that! as a kiwi i think we are considered residants but im not sure that will help us much with dp being in new job once we get there ? might have to be happy to enjoy Adelaides public transport for a few months, it will all be worth it!!

[kiwibird27]

Get yourself a couple of credit cards asap, then u will have a credit history then no problem.... Technically u aren't permanent residents, which is the main issue with loans etc here, but just tick the yes box and try not to look guilty!!! Once u have a credit history its no issue

[sia5]

Thanks , im no good at those confusing forms anyway so if i tick the wrong box it was a accident! :laughing:

[steviebabynz]

We used Esanda when we first got to Perth - they were able to run a credit check back in NZ since they operate in oz and nz - did that through the car dealer. Interest wasn't crazy either - hope you've worked something out