Car Finance - is it possible in Oz with no credit history??

[E2306]

Can anyone advise please?

[Suzukiscottie]

I believe that it is possible if you have a job and a regular income and can meet the payment terms.

 

 

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[Marisawright]

Australia doesn't have the slavish reliance on credit scores that exists in the UK, the main thing they'll want to know is whether you have a job.

 

However, I would strongly advise against taking out a car loan when you first arrive. Buy an old banger instead.

 

I say this because if you take out a car loan, and then find that Australia isn't right for you, you'll be stuck with a debt, and a car you can't sell because there's finance on it. Much safer to make do with a second-hand car until you're settled, then upgrade.

 

I know you feel you're going to make a success of it - but let's face it, every family who migrates thinks so, otherwise they wouldn't do it. And we've seen many members here having to go home after a year or two and finding themselves in a bind over car finance. I know you've done your research and there's a good chance it will all go well, but best play it safe.