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buying a mudda bike

Discussion in 'The Pub' started by kyro_02, May 17, 2008.

  1. Hi guys, well I have a new job, like woot!

    anyhow, i'm on my second week, im casual(perm i think? dont ask me! - i go through 'skilled') and do 36 hours a week(3 days), anyhow. i take(will be taking) about $700 home a week. minus last week, only worked 2 days.

    I know there's a few people in finance (infact, i was speaking to someone who is in it, a while ago. but the username escapes me - on this forum)

    how long(weeks/months) is it generally (i _should_ wait) before apply for a personal loan, i know it all differs from place to place). I hear "3 months" i also hear "x amount of payslips" - ie; 5.

    I will save $1,000 before applying for a loan(gimme a few weeks) but yeah, anyhow. im after a max of $6,000 loan.

    I am with commonwealth, so i would like to stay with them, ya'll feel free to put your input!

    any do's and dont's (excluding "don't get a loan" of course.. haha!)

    I am thinking about buying a mates CBR250RR $4k (keeping in mind, I am off my restrictions in august, I am 6'3 and weigh 85kg. and the loan will be a minimum of 2 years.) I suppose; I could always buy a more powerful bike and not ride it until im off my restrictions, in august. But I can't wait that long ha.
  2. They usually like 3 months employment, and ask for the last 2-4 payslips, if your work doesn't do payslips, then you can get a letter written with the company logo on it and they just have to write how much you earn. :)
  3. How are your restrictions affected by LAMS in July?

    $700p/w, you should look to just paying cash for your bike, save your ass off for a little while, you will be glad you did.
  4. Welcome back kyro.................
    I agree with triway but mainly because of your dramas in the past with scraping to get by etc. Save a bit and do it much easier.

    1 July can see you on a LAMS bike but you may want to wait a bit longer and get a long term bike.
  5. 3 Months is the norm before you can get a loan.
    I would however try a building society / community bank or finance broker, instead of the Comm Bank.
    My experience is they are a bit hard to get along with!
    I would avoid any of the GE money type places (if I could).
  6. Hi again!

    I have a dilemma? yay or nay?

    I am employed through skilled as a Casual, I have been with them for about 5 weeks .. and, I have worked 4 weeks at one job, and i've just started a "temp" job at target distribution centre, which will go for a few weeks until my 'first' job goes back into production(no stock). My bro has been at that job for 12+ months and this is the only time its happened, AFAIK

    Will I theoretically have to wait 3 WHOLE months without going to another job, before I can apply for a loan.. at say.. commonwealth? if that's the case, i've waited a whole month, and will have to do another 3 months.. argh!?
  7. Forget the banks. Best for me was a popular credit union. way. way. way better deal than the bank.

    I should mention that for various reasons I f@#%ing hate banks but that doesn't change the fact that the credit unions provided me with a better deal
  8. I agree with everything said here.
    If you are saving enough to save 1k in “a few weeks†then hold out till you can pay cash.
    But if you are going to go a loan look at a credit union (CUA, VTCU, PCU etc) I would be seriously surprised if they didn’t give you a much better rate, than a major bank. Not to mention they aren’t inherently pricks
  9. speak to miss Dj.. she will point you in the right direction.
    as posted b4 you'll need 3 months pay slips sooo by that time you'll have a open lic