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Good day , my 457 visa is in progress and will be granted in the next few weeks , how do i go about getting a loan to buy a car ? Please sent me the information i need and the minimum requirements. And how do i go about getting such a loan and how fast will i be able to apply ?
Hi HB,
Once your 457 Visa has been approved, you can submit your CommBank personal loan application online or in a CommBank branch. To be eligible for a loan with CommBank, you need to be 18 years old, earn a minimum income of $14,000 p.a., and reside in Australia. You’ll only be approved for a loan term that’s less than the term of your Visa. You can find out about the documents needed to apply through our CommBank secured car loan review.
I hope this has helped,
Elizabeth
Hi, we have an existing home loan which is up to date. But just last year, we had to go into a debt fix agreement to settle some of our unsecured debts. This was due to partner losing work, coz the company have closed down and struggled to find a stable job after 10 months. Luckily we still managed to keep the house but we lost our car. Just wondering if there’s any chance for us to apply for a (home) loan refinance and use this fund to close and pay off our debt agreement. We are desperate to get a car loan and at this point in time, we know that we will not get approve for any type of loan. Please help and give your advice.
Thank you kindly Vina
Hi Vina,
Thanks for getting in touch.
I’ve sent you an email to follow up with this enquiry.
Thanks,
Belinda
Hi I would like to take out a loan for a new car for my small business but I have only been running it for 1.5yrs I do however have someone that can go guarantor for me. Am I able to get a loan this way with commonwealth bank?
Hello i was wondering as around 4 years ago.The commonwealth who i have banked with for over 30 years sent me an offer saying i was able to borrow up to 5000 for a personal loan.Is it possible on a pension,For $1.000 if so how much will i have to pay back and how long.My friend just got a 600$ loan online on pension and has to payback 740.over 6 months.with fortnightly payments.I would appreciate an answer on how much i can borrow if eligible.Thankyou kindly Lea Andrew.
Hi Lea,
Thanks for your question.
The minimum amount you can borrow with a Commonwealth Bank Personal Loan is $5,000, unless you want a personal overdraft (which is an ongoing line of credit attached to your account) where you can borrow as little as $100. Commonwealth Bank does consider pensioners for loans depending on your financial circumstances and your ability to repay. You will need to get in contact with Commonwealth Bank to discuss eligibility.
You can also see our guide to pensioner loans and check lenders/banks that offer smaller amounts and other available government assistance programs.
I hope this has helped.
Thanks,
Elizabeth
Hi Dana,
Thanks for your question.
Your eligibility for a car loan depends on your individual financial situation, the car you are looking to purchase, among other things. You can take a look at Commonwealth Bank’s car loans and if you click on the title of the loan you will be able to see the eligibility criteria. When you’re ready to apply, just click ‘Go to Site’.
I hope this has helped.
Thanks,
Elizabeth
I have a $5000 fixed personal loan with commonwealth bank and im wondering how much extra id pay if i paid it off early?
Thanks
Hi Brendan,
Thanks for your question.
Unfortunately this fee is undeterminable until the time you request the payout figure, as rates change daily. In this case it’s best to contact CBA directly to enquire about this.
However, please note you are able to make an additional of $5K in repayments on a fixed rate loan, so if your loan is only for $5K, you may not even pay these fees.
Cheers,
Shirley