sharksfan Posted October 9, 2006 Report Share Posted October 9, 2006 Hi AGAIN! So many questions and so much to figure out - I am so chuffed to have found this website...filled with info and friendly folk My first question is, if you come over on a 457 - are you able to get finance for buying a car, buying a house and studying? We are hoping to be able to get a car using a finance option using a deposit, but am a little concerned that maybe we may not qualify for this as we are on a temporary residence permit, 457? Also, I would like to complete my degree and so would be an international student. The fees for this are astronomical! Can only "rockafellas" then study in Australia as an international student... Anyone had any experience with getting finance on a 457?Thanks very much!Sharksfan Quote Link to comment Share on other sites More sharing options...
Dreamcatcher Posted October 9, 2006 Report Share Posted October 9, 2006 Hi Sharksfan,We came over on 457, and we got finance for our first car about a week after we landed here. You have to have an Australian licence, and a deposit to be able to qualify for finance with Capital finance, who we are with. They don't have too many problems, except that you need to pay off your loan within your visa period. You also need proof of address, bank statement and your employment contract as proof of income. When buying a house, it gets more complicated. You need to get permission from the government first (not hard to get), and you need to have a 20% deposit. We have not found any home loan agency willing to waive the 20% deposit They all tell us to come back when we have residence.As to the studies, I am not sure if you can finance that. What I do know, is that one of the credit bureau's (same as a bank) offered to give us a $20 000 loan if we banked with them, but only after at least three pay periods' pay deposited into an account with them. We also needed to supply them with credit ratings from the South African credit bureau. We did not take the loan in the end, as we are trying to stay out of debt. I waited for the tax return and paid my uni fees with that. (Nice bonus that first year tax return!)I hope that answered some of your questions.Greetings,Dreamy Quote Link to comment Share on other sites More sharing options...
JJV Posted October 9, 2006 Report Share Posted October 9, 2006 The fees for this are astronomical! Can only "rockafellas" then study in Australia as an international student...International student fee income represent a very big "export" for Australia. They have lots of affluent Asians queuing up to enroll! 1 Quote Link to comment Share on other sites More sharing options...
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