All Topics / Finance / Vehicle Purchase & Financial Attractiveness

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of woodsmanwoodsman
    Member
    @woodsman
    Join Date: 2004
    Post Count: 714

    Will need to purchase a vehicle later this year. (Lucky enough to be able to walk to work and have access to my sister’s car who is currently overseas)

    Does anyone have any suggestions what is the best way to purchase (if there is) a vehicle that will need to be financed, so as to minimise the impact one’s attractiveness to future financiers? Or do financiers look solely at the payment amount?

    Profile photo of brahmsbrahms
    Participant
    @brahms
    Join Date: 2004
    Post Count: 485

    Or do financiers look solely at the payment amount?

    pretty much, weigh up whether (1) using equity in a property or (2) what the effect of higher repayments have on your borrowing capacity.

    ‘the cheapest form of finance is saving’ – but its not usually what people want to hear – and i wouldn’t have a job either…mmm…might delete that later..he he

    cheers

    brahms
    [email protected]
    Brisbane

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Use cash, buy a cheap one.

    Financing a vehicle is a bad idea if you want to keep purchasing properties.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    Click below to email me

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of BonbeachBonbeach
    Participant
    @bonbeach
    Join Date: 2004
    Post Count: 214

    Terry

    Are you suggesting that I should sell the Monaro???

    Luke [cap]

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Hmmmm. Since you already have it, you would probably lose too much by selling it. Just don’t crash it!

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    Click below to email me

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 5 posts - 1 through 5 (of 5 total)

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