Finance Companies suck...

[placidfemme]

As most of you know Sam and I are looking for a new bike for Sam, which has proven to be a mission all on it's own seeing as we have "criteria" that the bike has to meet (image wise, condition wise and so forth).

We FINALLY found the bike that we both agreed was perfect... and for the price we wanted too... we had 2 buyers lined up for the FXR Sam is currently riding... everything was perfect...

The finance company had all the papers... and all we were wating for was approval... the guy was holding the new bike for us until approval...

After 4 days of chasing the finance companie... we finally find out that the stupid cow who was dealing with our case/account had quit her job and she hadn't entered any of the loan/bike details into the system in regards to the new bike...

They said we could send through all the papers again and they would run it again with our new rep and have approval/disaproval within 3 working days (so much for the advertised "Under an hour approval"). Upon telling this to the guy holding the bike... he threw a tantrum and has now ended up selling the bike to someone else :(

so now its back to square one, finding a bike...

bike shopping really sucks sometimes.

[justsomeguy]

That sucks girl.......

I assume you've tried the banks - they usually do deals within minutes..

Better luck next time.

[SARGE]

That sucks girl.......

I assume you've tried the banks - they usually do deals within minutes..

Better luck next time.


PF- ring me when you find one .. i can do the finance in a day

[placidfemme]

That sucks girl.......

I assume you've tried the banks - they usually do deals within minutes..

Better luck next time.

Eh, we'll we've already got a loan with these guys, so we would just be topping it up, also the bike that Sam's riding at the moment is security for that loan... so we'd might as well stick with them... just easier...

[muzz]

that sucks alright. We have dealt with MTF took 6 hrs from the time we walked into the shop had a test ride and rode away. MTF will do 100% finace if you got good history.

[placidfemme]

PF- ring me when you find one .. i can do the finance in a day

lol first... thats a REALLY big signature picture :)

Sweet thanks :)

[placidfemme]

that sucks alright. We have dealt with MTF took 6 hrs from the time we walked into the shop had a test ride and rode away. MTF will do 100% finace if you got good history.

Whats MTF?

[muzz]

Whats MTF?
Motor Trade Finace :niceone:

[WINJA]

Whats MTF?
MOTOR TRADE FINANCE

[placidfemme]

Motor Trade Finace :niceone:


ahhh... sweet thank you :)

[Waylander]

So what bike was Sam gonna upgrade to?

[WINJA]

PF JUST BUY HER A BLENDER THEN SHE CAN BE THE WOMAN IN THE RELATIONSHIP

[placidfemme]

PF JUST BUY HER A BLENDER THEN SHE CAN BE THE WOMAN IN THE RELATIONSHIP

lol no cause then all she'd make is milkshakes and get a fat ass...

Waylander... she was gonna get the pic attached below:

http://ccc.domaindlx.com/placidfemme/kremit.bmp

and another pic:

http://ccc.domaindlx.com/placidfemme/green%20250.bmp

[SARGE]

lol first... thats a REALLY big signature picture :)

Sweet thanks :)


ask "the Dover" the meaniing of that picture.. funny story that ...


by the way.. i use MTF here at Colemans.. can get some decent rates right now too..

[cowpoos]

I use markson direct finnance...gary is a broker...he doen't piss around...

I've been with him a few times and he looks after me really well...I usually ring him and say.....gary...Ryan Withers here...I just brough...car,bike...what ever...I need the money....

He's like....right....who did you buy it off....and whats their phone number....and then he's like....go get insurance....and bye!!! [doesn't even ask me how much it is]

I get a couple of things to sign in the mail...all filled out....even the direct debit form is filled out!!!!!...I sign two forms...mail them back...

Next day....I go get new vehicle...sales man is like...who is that guy...and I'm like I don't really know...he just lets me buy things...never meet him of anything...and all I do is sign three things...sale purchase agreement...at the place of purchase...finance form thingy....direct debt form....

Give him a ring... 0-9-573 1522...say Ryan withers told you to give him a call!

[strayjuliet]

Sorry to hear about that problem, I hope you find a bike that you both like soon and that the finance goes through quickly. :niceone:

[curious george]

Since when did finance become cheaper than from a bank?
What's the advantage in going to a Finance company?
I always thought Banks were just money shops?

[Big Dave]

Also - you could try
www.integrityfinancial.co.nz
He mainly does boats, but Brian is a friend of mine, a serious motorcycle nut (he has the Honda collection I sometimes picture), prides himself on professional service and is an honest operator.

[avgas]

Since when did finance become cheaper than from a bank?
What's the advantage in going to a Finance company?
I always thought Banks were just money shops?
Nup, other way round now aye. I thought it was all bullshit, but then i found out through my Girlfriend (who does finance through westpac [FREE PLUG call Virginia at 09 529 3117 - now she wont beat me :doctor: ]
Finance Companies are good cos they pretty much give anyone a loan. Which is good if you have crappy credentials, no job, no life etc

[onearmedbandit]

Unless you've got a post graduate loan or a mortgage through a bank the finance companies we use allow us to blow the banks out of the water. Not even a consideration, and our company does over $700,000 in finace deals a month, so I have pretty good experience at this. Sure there *might* be the odd exception, but if banks were so great why do these finance providers do so much business. And no it's not because the finance companies give finance to anyone, the requirements are quite stringent. We also turn a good percentage of customers around from bank provided loans, and if they compare loans they almost without fail go with our option. If you go to a first tier loan company (GE, MARAC, UDC, etc) you won't get shafted, go to a smaller company and expect big fees. However you'd only do that if you were considered high risk.

PF - had you done any paperwork on the bike, say signed a Vehicle Offer Sale Agreement? I take it you didn't leave a deposit, or you would have said you either got it back or lost it. Was he just 'holding' the bike for you? Also if Sams current bike has a 'hook' on it you'll have to get it either removed or transferred to the new bike before you sell it, although you are probably aware of that.

[curious george]

Finance Companies are good cos they pretty much give anyone a loan. Which is good if you have crappy credentials, no job, no life etc
Good for money, but good for the borrower? They don't call 'em loan sharks for nothing......
Assuming you have a good banking record, would the bank not be the best?
If you are turned down for whatever reason, then your next best bet after mum/dad is the finance co?
I've never delt with finance co, but a quote I got froma dealer a few years back scared the pants off me!
What's the best way to go about it people who know about money?

[placidfemme]

Thanks for all the comments and suggestions... I'm not going with a finance co because it's cheaper than a bank (because it certainly isn't lol), but we already have a fairly big loan with this company and for the extra amount we are looking at borrowing, the finance company is most likely to accept it, whereas a bank would say no.

It just really pissed me off because I've been searching for a damn bike for over 4 months now... and now I finally a bike that we liked, and was in good condition and had heaps of potential to be built up as a bike that Sam can ride for years to come (we don't see her getting a bike bigger than 250cc for at least another 3 or 4 years... so we need a really good one).

*starts bike hunting AGAIN* :(

[Drunken Monkey]

Curious George raises an important point.
I know hearing 'no' from a bank when you want money doesn't sound nice, but people don't realise they're doing you a favour. Hey, the bank wants your money. They like to loan you other people's money so they can charge interest on your repayments. They don't like bad debts, and only refuse to give you the loan if they think you may get into further financial trouble if they do so. The bank is just tyring to look after your best interests.
And no, I don't work for a bank.

[FROSTY]

pf--why diddnt ya call me???? ---Its what i do for a living--Vehicle finance
why dont we get a loan pre approved so all ya gotta do is find a bike ya like

[Sniper]

Good luck PF

[placidfemme]

Curious George raises an important point.
I know hearing 'no' from a bank when you want money doesn't sound nice, but people don't realise they're doing you a favour. Hey, the bank wants your money. They like to loan you other people's money so they can charge interest on your repayments. They don't like bad debts, and only refuse to give you the loan if they think you may get into further financial trouble if they do so. The bank is just tyring to look after your best interests.
And no, I don't work for a bank.

I can understand that... but BNZ wouldn't even give me a $500 overdraft on a perfect account history... never went into overdraft before (other than work screwing my pay check that one time), I've had money going into my account EVERY week for over 3 years, and I have good credit... and they said no to $500 so why would they lend me $5000? Maybe BNZ just sucks... but I had to talk to about 15 different people just to set up a fixed savings account for 2 years...


pf--why diddnt ya call me???? ---Its what i do for a living--Vehicle finance
why dont we get a loan pre approved so all ya gotta do is find a bike ya like

Sorry... I wasn't aware thats what you do...

Getting a pre-approved amount would be fine if it were with an actual bike shop (but add $1500 onto the bike & the loan because they charge more than private sales) and for private sales the finance co requires the bike be appraised and also a letter from the seller and then on top of that they call up a dealership and get an actual quote for the bike (which is stupid because for example... [don't really wanna name any bike shops] but finance co called up bike shop and asked for sale price of 1991 ZXR250 under 35,000km's and in great condition... said bike shop told finance co sale price was $4500, whereas in said bike shops show room are ZXR's in standard condition (no mod's or aftermarket pipe) and all had 40,000km+ and not one was under $6500

It's just such a bloody drama... I could possibly get financing elsewhere (from the many places named above and earlier in the thread) but I'd prefer to keep my debts in one place and all together if possible...

But I will call them up and ask if there is an easier way to get an pre approved amount set up... :)

[*sic]

i have a major problem with finance company's being that they tend to prey on those that will more than likely never be able to pay it back! (not saying your in that boat girl)

and then the interest rates!! OMG.. theives with smiles they all are

[placidfemme]

i have a major problem with finance company's being that they tend to prey on those that will more than likely never be able to pay it back! (not saying your in that boat girl)

and then the interest rates!! OMG.. theives with smiles they all are

yeah the interest sucks... and they charge you for early re-payments and so forth...

[jrandom]

But I will call them up and ask if there is an easier way to get an pre approved amount set up... :)

please do try all the banks for an unsecured personal loan. it's the absolute best option if you can get it, assuming mortgage finance isn't available. lower interest rates, often by more than 10%, and they won't come and break your kneecaps (much).

just file an online loan application with the National Bank and ASB. see what they come back with. You might be pleasantly surprised.

are you and Sam doing it together? applying jointly will naturally increase your borrowing ability.

I don't work for a finance company, but I have very extensive personal experience with the industry. feel free to PM or ping me on MSN sometime. I promise not to bite.

there is undoubtedly a way...

[placidfemme]

please do try all the banks for an unsecured personal loan. it's the absolute best option if you can get it, assuming mortgage finance isn't available. lower interest rates, often by more than 10%, and they won't come and break your kneecaps (much).

just file an online loan application with the National Bank and ASB. see what they come back with. You might be pleasantly surprised.

are you and Sam doing it together? applying jointly will naturally increase your borrowing ability.

I don't work for a finance company, but I have very extensive personal experience with the industry. feel free to PM or ping me on MSN sometime. I promise not to bite.

there is undoubtedly a way...

Eh... well we have to do it jointly... because
1. Sams credit is screwed (from like 3 years ago... nothing to do with me)
2. If I do it on my own... then the bike goes in my name... then there'll be tears before bedtime if we have dramas at home and I take the keys because legally it will be mine... and I like to set the... "this is mine and this is yours" limits (I've been screwed over in the past... not going down that road again)

I will though... I'll call up the bank again, and if they give me a no, I'll try one or two other banks... otherwise it's bank to the finance co's

[unhingedlizard]

See if you have problems again call me.







I dont actually know shit about this stuff but its nice to talk.........

[Oscar]

i have a major problem with finance company's being that they tend to prey on those that will more than likely never be able to pay it back! (not saying your in that boat girl)

and then the interest rates!! OMG.. theives with smiles they all are


yeah the interest sucks... and they charge you for early re-payments and so forth...

So...you were walking down the street one day and got jumped by two guys in suits. Next thing you've signed a loan document with a gun at your head?

Please...if finance companies really did "...prey on those that will more than likely never be able to pay it back!" - how long do you think they'd stay in business?

If you don't like it, pay cash and stop whining.

[yungatart]

Aaah, surprised that nobody has mentioned the "saving up and paying cash" option , works for us-no debt, no interest payments and its ours from day one.. worth a thought maybe? Also when paying cash you get the most amazing deals if you start waving foldies around under their noses.

[jimbo600]

As most of you know Sam and I are looking for a new bike for Sam, which has proven to be a mission all on it's own seeing as we have "criteria" that the bike has to meet (image wise, condition wise and so forth).

We FINALLY found the bike that we both agreed was perfect... and for the price we wanted too... we had 2 buyers lined up for the FXR Sam is currently riding... everything was perfect...

The finance company had all the papers... and all we were wating for was approval... the guy was holding the new bike for us until approval...

After 4 days of chasing the finance companie... we finally find out that the stupid cow who was dealing with our case/account had quit her job and she hadn't entered any of the loan/bike details into the system in regards to the new bike...

They said we could send through all the papers again and they would run it again with our new rep and have approval/disaproval within 3 working days (so much for the advertised "Under an hour approval"). Upon telling this to the guy holding the bike... he threw a tantrum and has now ended up selling the bike to someone else :(

so now its back to square one, finding a bike...

bike shopping really sucks sometimes.

Under these circumstances if you find a similar bike but for more money the finance company is liable for the extra cost, including extra travel cost.

[jrandom]

Under these circumstances if you find a similar bike but for more money the finance company is liable for the extra cost, including extra travel cost.

eh what?

bollocks. utter poppycock. liable, my ass.

what gave you that idea?

[jimbo600]

eh what?

bollocks. utter poppycock. liable, my ass.

what gave you that idea?

CGA1977 gurantee in resepct to services s28/30 redress covered under s32(c)

[placidfemme]

So...you were walking down the street one day and got jumped by two guys in suits. Next thing you've signed a loan document with a gun at your head?

Please...if finance companies really did "...prey on those that will more than likely never be able to pay it back!" - how long do you think they'd stay in business?

If you don't like it, pay cash and stop whining.

go screw yourself buddy... Im wasn't wining... stop confusing your partners bed antics with my thread

[jrandom]

CGA1977 gurantee in resepct to services s28/30 redress covered under s32(c)

bollocks. no contract for supply of services was made.

those sections of the CGA1993 don't apply.

contracts require consideration [in the legal definition sense of the word]. in finance contracts this takes the form of fees and interest. no payment by customer, no service contract, no 'service'. no CGA.

_if_ the finance outfit had agreed to provide finance and the customer had accepted that offer, but the f. co. failed to facilitate drawdown in the agreed timeframe, _then_ those sections would apply.

hence I still call poppycock.

[jimbo600]

bollocks. no contract for supply of services was made.

those sections of the CGA1993 don't apply.

contracts require consideration. in finance contracts this takes the form of fees and interest. no payment by customer, no service contract, no 'service'. no CGA.

_if_ the finance outfit had agreed to provide finance and the customer had accepted that offer, but the f. co. failed to facilitate drawdown in the agreed timeframe, _then_ those sections would apply.

hence I still call poppycock.

I thought that there was offer and acceptance.

P'raps I should read the thread again. Poppycock might be the order of the day after all.

[jrandom]

I thought that there was offer and acceptance.

nah mate, she was complaining because she sent in her application and they took four days plus to process it.


P'raps I should read the thread again.

it's a Saturday. having to concentrate is a bit unfair really.

mmm, beer...

[jimbo600]

Ahh waiting for finance acceptance. Finance hadn't been proffered yet. Well it appears that my advice is indeed poppycock. That's why I take photographs and not give out legal advice. Jeez couldn't even get the year of legislation right. CGA1997? never heard of it mate.

[jimbo600]

nah mate, she was complaining because she sent in her application and they took four days plus to process it.



it's a Saturday. having to concentrate is a bit unfair really.

mmm, beer...

The fridge is offering me a beer.....think I'll accept.

[Oscar]

go screw yourself buddy... Im wasn't wining... stop confusing your partners bed antics with my thread


Opps, my mistake.
I coulda sworn you were complaining about the clauses in a contract you are about to enter into of your own free will.
You are obviously one of lifes winners...

[jrandom]

Opps, my mistake.
I coulda sworn you were complaining about the clauses in a contract you are about to enter into of your own free will.

yeah, what he said.

PF, dont be so over-sensitive when people are making valid points.

Oscar is utterly correct; if you dont like the interest rates offered, dont borrow the money... these companies are charging rates commensurate with the level of risk they're accepting by loaning to the sort of people that the banks won't dig a financial hole for.

[placidfemme]

Opps, my mistake.
I coulda sworn you were complaining about the clauses in a contract you are about to enter into of your own free will.
You are obviously one of lifes winners...

I was complaining about them taking so long to give me an answer that the bike was sold to someone else... maybe you should both (you too fish) learn to read...

I don't care about the interest or other payments or whatever included in the loan.

[Oscar]

I was complaining about them taking so long to give me an answer that the bike was sold to someone else... maybe you should both (you too fish) learn to read...

I don't care about the interest or other payments or whatever included in the loan.

So you didn't write this, then?


Originally Posted by placidfemme
yeah the interest sucks... and they charge you for early re-payments and so forth...

[The Stranger]

Isn't that simply acknowledging the previous post?

Doesn't look like whining to me.

[jrandom]

I was complaining about them taking so long to give me an answer that the bike was sold to someone else... maybe you should both (you too fish) learn to read...

I can read just fine girly, you were _too_ complaining about cost.

I'm not taking sides or implying that Oscar isn't a senile grumpy old coot who wears his undies inside out, but thats beside the point of you being wrong.

[Oscar]

I can read just fine girly, you were _too_ complaining about cost.

I'm not taking sides or implying that Oscar isn't a senile old curmudgeon who wears his undies inside out, but thats beside the point of you being wrong.


Hehehehe..
Obviously we've met.

[WINJA]

I can read just fine girly, you were _too_ complaining about cost.

I'm not taking sides or implying that Oscar isn't a senile grumpy old coot who wears his undies inside out, but thats beside the point of you being wrong.
ILL BLOW UP THE PADDLING POOL AND START MIXING THE JELLY , HOPE YOU GALS LOOK GOOD IN A BIKINI