Bank Calculations

Am in the throws of trying to tee up some finance on an IP. I have opted to see a mortgage broker.
He gave me a standard form to determine assetts and Liabilities.
I dutifully filled it all out. When I went in to start the official paperwork, I had filled in that we have two cars. One we use all the time, the other only when we need to.
Both cars, because the are Six cylinder are costing us $320 per month!!
In what other ways are my assetts shooting me in the foot??
Has anyone else noticed similar things?
 
I believe that a car is a liability not an asset. It might be an asset if it makes you money.

Another hidden loan amount reducer, are credit limits. Just because you have 0 debit on the cards, the banks still will work on the side of caution and add up the total credit limit and the amount you might be liable for if you decide to go on a spending spree. It's best to close down all but one or two credit cards and reduce the credit limit to the lowest workable amount.

Even children are considered a liability. They cost! Either don't have them or have them adopted :D


Desto.
 
Hi GV

Only ANZ focusses its service model on type and number of cars.

Most lenders dont care if you have a 2 Cyl Daihatsu or a V12 Benz.

Just goes to show though that the broker can accurately target your need to the right product by knowing the ins and outs of each lenders model

ta

Rolf
 
I did get rid of my big credit card and now only keep a very small one.
I've thought about selling the kids, but.....
And Rolf..we are looking at a proposal through the ANZ!! This man knows his products people.
 
Hi

When the deal is "tight" for my clients and the ownership of a car or cars, or more particularly the repayments make the assessment difficult, I am inclined to avoid ANZ.

Most banks do not ask about your cars. Why ANZ continues to do so I don't know.

Regards

Ross
 
Originally posted by Rolf Latham
Most lenders dont care if you have a 2 Cyl Daihatsu or a V12 Benz.

Excuse me ? 2 Cyl ? I would have you know that there are no cars in the Daihatsu range which are only 2 Cyl.

The 1.0L models in the Sirion and Cuore range (and the old 1L Charades too I think) were only 3 cylinder, but everything 1.3L and above are all 4 Cyl I'll have you know !

Sheesh ! 2 Cyl indeed !
 
Hi Sim

Daihatsu make some very nice cars (and 4wds)

I was thinking of Sherpa, yeah this is NOT a Daihatsu, tis a Subaru.

I was going to compare Euro to Euro, But I didnt think most Aussies would relate to a 2 CV.

Ta

rolf
 
My wife had a laugh today. She had never really noticed the "Espero"

Espero is Spanis for "I wait" or "I hope"- either of which might be correct.
 
Dear Geoff,

Funny thing with names when they export cars.

When they looked at exporting the Holden Nova into South America they had a problem with the name. Nova in Spanish apparently means "No go". Not the perfect name for a car.

But better was the "Come alive with Pepsi" almost got translated into "Come out of the grave with Pepsi".

Key thing with translation is to always have a different party back translate it.

Cheers,

Sunstone.
 
Sunstone,

"No Va" indeed does mean "no go". But "Nova" is "new".

But it still does not make sense for a Mexican petrol company or an Australian travel company to be named that way!

(btw, I had heard for along time that the term "pajero" meant someting undesirable in Spanish. MrsW was not able to confirm this. But I have since found out that in one of the Spanish varieties (Cuba?) this is correct. But it's not wide spread Spanish.
 
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Hey!!! you guys sidetracked my post!! I want to know if other people have any ideas as to all the intricicies of bank calculations and how we can avoid the pitfalls of opening our mouths too much, someone once posted that they only tell the banks what they need to know rather than paint a glorious picture..:mad:
 
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