Australian Money Forum

[spudway]

we need help we are a family mom dad and 5 kids we have 50k deposit and have put a deposit on a property ,,sale price of 110k ...we are on a pension and get 1915.96 per f/night ..we need 60k ....we dont qualify for bank finance ....we can pay 350 per week .....we have been renting at 350 per week for many years ....the property we are trying to buy is able to generate at least 300 per week ...we would pay any monies we make straight of the loan ..we own a toyota parado 2004 grande ..and a 1996 musso combined value at 50k ..we would sell when we got over to our new place in wa ...we dont wont to sell them in a fire sale as we wouldnt get true value ...monies for car sales would be paid of loan ...we have our freinds comming with us and thay can pay 200 p/week which makes weekly paments at a min of 550 per week ..we are eligable for the 14k first home buyers grant ..that will be paid of the loan asap ...we also have a 1988 isusu furnature truck that is worth at least 10k we will sell that as soon as we move over to wa ..we dont wont to sell till then as we would then have to pay for a removalist and thay quoted 8.5k ....pleas help ///////ph paul 0408819344 ...

[wulfgar]

I'd say you're going to have to look for personal finance, or what they might call a sub prime loan. Such loans charge a stiff interest rate, which may be with in your means.
Basically you are looking at finance companies. The maximum you should pay is 15% interest. But you might be able to find a better deal.