Guest sims

car finance deposits

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    Guest sims

    Hi all,

     

    We just recently moved to Adelaide (Seaford area) and we are on the hunt to buy a car.

     

    We went to one of the dealerships who told us that recently the rules have changed for car finance and that you have to put a downpayment of 50% minimum in order to obtain finance.

     

    Is this true? If so are there any ways around it?

     

    Thanks in advance!

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    Guest Mitchell

    If it is true then try your bank. I did a personal loan rather specific car finance and got the full amount. Your bank may be able to tell you the rules too.

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    Guest sarahtwinn82
    If it is true then try your bank. I did a personal loan rather specific car finance and got the full amount. Your bank may be able to tell you the rules too.

     

    Yeah we did the same as Michelle and got a personal loan form commonwealth bank.

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    Guest cornish Busdriver

    When i brought my car here on finance it was a 2002 holden belina for $9500 fron Christies beach auto care bottom of beach road.

    Annette there organised my finance through Toyota finance and i only had to put down a $1000 deposit but i had been working 4 months already and in a secure job.

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    My daughter just bought a new car (3 weeks ago) she ut down $300 to hold the car subject to finance- don't go near anyone asking for 50% deposit

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    Well, the bigger the deposit you put down the better as a) it lowers the monthly repayments and b) you pay less interest.

     

    Nothing wrong with putting 50% down if you can afford it, and I would personally put down as much as I could afford as a deposit.

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    Guest ed999
    My daughter just buying a new car with NO deposit!

    Hi catherine

     

    Where was that?

     

    E

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