arranging finance

[anmolt]

would anyone know how to arrange finance on a private deal???good companies with low interest rates.......

[XTC]

would anyone know how to arrange finance on a private deal???good companies with low interest rates.......

Banks..... I.E personal loan.

[Fart]

Be very careful when you arrange finance with a small finance company. Make sure you read the entire contract and understand the fine prints. The last thing you want is a huge debt that takes you entire life to pay it off.

[Gremlin]

Be very careful when you arrange finance with a small finance company. Make sure you read the entire contract and understand the fine prints. The last thing you want is a huge debt that takes you entire life to pay it off.

yep, 3 had a doco on a week or so ago. People were getting screwed, and I mean really screwed. Once the sums were done, some interest was up to 70% per annum. People were ending up paying twice the amount and some contracts stated that if they missed a payment they could take house etc.

If you are in a position to decide, either try to save a little more and bargain a cash deal, or go for a major bank. If you do all your banking at one bank they may offer some sort of deal being a regular customer.

There are honest loan companies out there, but I would err on the side of caution and wait, rather than run the risk of being in debt to a dodgy bugger.

As they always say, the higher the risk... loan companies make money out of people with risky ratings, and some of the loans are broken, so effectively you are paying for them as well.

[Oscar]

would anyone know how to arrange finance on a private deal???good companies with low interest rates.......

There's some stuff here: http://www.kiwibiker.co.nz/forums/showthread.php?t=2303

(complete with small flame war).

This is a little out of date, as new legislation came into effect recently. One of the areas it tidies up is the charging of fees - these must now be justifable (i.e. the actual cost of preparing the document, say $25).

Where you would go to finance your scooter really depends on the numbers involved. If you're talking about financing half the price of an R1, you'd probably get interest from the big mainstream lenaders (including your bank). However if we're looking at a no-deposist loan on a second hand Cossack Snailbiter, then yer gonna end up dealing with Midnight Finance...

Use the Yellow Pages.

[Fart]

The ideal situtaion is not to finance at all, especially on a depreciating asset, unless it is to offset tax. But, if you must finance, then go through a reputable bank or borrow from your parents.

There are way too many ripoff artist out there posing as a ligitimate finance company. Be very careful of them. The commerce commission is currently review the rules for setting up a finance company and the compliance issues.

[zooter]

Bank first, reputable finance company next. South Canterbury Finance lends on cars, been in business long long time, could be worth a call. They are Timaru based, mostly rural lending.