Jump to content

Vehicle Financing with a 457 Visa


Guest imburjul

Recommended Posts

Guest imburjul

Hi all!

 

I have received some great information from this forum. I am trying to get a lot of questions answered before we arrive in Perth, so we know what to expect and this community is very informative. Though I am coming to Perth from the US I have a lot of the same questions you all have shared, so THANK YOU for sharing your site. I wanted to throw in a question I have to see if anyone has any feedback.....

 

My partner and I will be moving to Perth (he will be arriving in late March and I will arrive in late June) and we will need to purchase a vehicle, however, I'm not sure how financing works for individuals on a 457 visa.

 

Does anyone know if financing is hard to obtain if you do not have any Australian credit history. We have excellent credit here in the US, but I'm not sure if that would apply (would we first have to develop Australian credit history). Also, one last question.....does anyone know what the average financing rate is on a car loan and whether used vehicles can be financed at the same rate?

 

Thanks,

 

 

Julie

Link to comment
Share on other sites

Guest Glasgow2012

Hi Julie,

 

We are in the same position, i will be arriving late March / early April on a 457 and the family following in the summer time. From what i have been told you should be able to qualify for a salary sacrifice scheme and lease a car along as 1 of you has full time employment.

Link to comment
Share on other sites

You can get car finance on a 457 but usually need to go through the bigger dealers, and the APR is not as good. Also they will want you to have finished paying it off a few months before the 457 expires.

Link to comment
Share on other sites

I've seen dealers advertising they'll happily finance on a 457, but I suspect at high rate, and as Stu says I've heard that some will only finance for the length of the visa.

One nugget I can share through experience is to really read the insurance small print if you take it. I took out a policy with a $400 excess which I thought was fair enough. Then had my first ever accident and they wanted $900. They added on a $500 "inexperienced driver" fee. Doesn't matter that I've had no accident ever when not in Australia, they classed me as "inexperienced". Watch for that if taking out a policy.

Link to comment
Share on other sites

  • 3 weeks later...

Hi

As I understand cars tend to be very pricey, will not be looking for a gas gazzling shiney new car on arrival just something reliable the size of a ford focus between 8-12 yrs old any ideas on what would make of cars would be available and rough pricingif possible? Will be selling my beloved bmw with private plate :ssign8: and jeep am gutted just not worth the hassel of shipping over. My husband is the same 2 motorbikes sold during the summer so to be wheel less so to speak on arrival is I think the most dreaded of all things for us .......

thanks

Mary

Link to comment
Share on other sites

We bought our hail damaged 2003 Kia Sportage for $2000. :cool:

 

It's only done 130k and it's well looked after. It's certainly no looker but we don't really care about that.

There are cheap cars about, I'm hankering for a classic Merc and there are some great examples here for not very much.

 

Sorry, that doesn't help with the financing issue though.

Link to comment
Share on other sites

  • 2 weeks later...
Guest Donnab76

Hi, we're planning on shipping our car,having seen the prices of used cars in Perth. At present, we have a 330d BMW, does anyone know if this would be an expensive car to insure,run etc etc

Link to comment
Share on other sites

Hi, we're planning on shipping our car,having seen the prices of used cars in Perth. At present, we have a 330d BMW, does anyone know if this would be an expensive car to insure,run etc etc

 

No more expensive than running it in the UK, it well worth bringing your car over, I brought the wifes mini over, glad I did, importing it wasnt as bad as I thought it would be, look on http://www.sgio.com.au/car-insurance/index.shtml?cid=google-wa&ctype=ppc and get an insurance quote, we found insuarnce prices here to be comparable with the UK, only difference is you dont legally need insurance here as the registration includes third party

Link to comment
Share on other sites

For the insurance stuff, check out http://www.icwa.wa.gov.au/mvpi/ctp/mvpi_ctp_faq.shtml for more on the CTP insurance you get with your registration. It only covers personal injury to the other party.

 

 

We took out a fully comp policy with SGIO anyway, when I rego'd the car I asked the lady over the counter if I needed insurance by law, she said no, but its good to have, the reason for using SGIO is that a lot of the other mainstream insurers would not insure an import, a lot of the independant brokers would but they were charging a premium, SGIO worked out to be the cheapest

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...