Welcome to the October issue of Lendcorp News.

In this Issue

	Introduction
	What Can Affect Your Credit Rating?
	Australia ranked 7th Richest Country in the World
	New Car Sales Boom Continues

In Other News

"Australians comfortable with debt level"  read on 

We Finance:

New Cars
Used Cars 
Trucks
Boats
Caravans
Motorcycles
Motor Homes
Business Vehicles
Business Equipment
Earthmoving Equipment
Forklifts
Plant
Machinery
Office Equipment 

LENDCORP FINANCE

is accredited with
a panel of lenders
including:
  

Esanda Finance

GE Automotive

Capital Finance

BOQ Equipment Finance

RACQ Finance

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Introduction

WELCOME to October 2007 edition of 'Lendcorp Finance News'.

In this months issue we provide information on what can affect your credit rating. The Boom in the Car Industry and Australia ranking 7th  richest in the World.

We hope you find the articles covered interesting and if you would like any other issues covered, drop us a line at sales@lendcorpfinance.com.au.

Kind regards

The Lendcorp Team

What Can Affect Your Credit Rating?

If you are in the market to borrow money (Car Finance, Credit Cards, Mortgage)  the following items may affect your credit score as many lenders operate on a scoring system.

• Defaults - Stardard defaults will remain on your credit report for five years and are listed as either paid or unpaid.
  
  Many defaults are as a result of a disputed invoice, such as a small phone bill or utility bill and are often for less than $500. Even if you are in the right and eventually win the case the default will remain against your name and you will have to prove it's been settled.
  
  
• Bankruptcy - Bankruptcy stays on your file for seven years.
  
  
• The number of addresses shown on your credit report for the past five years.
  
  
• The number of loan applications you have made.  If there are too many applications in a short period of time this can go against a person obtaining a loan.
  
  
• Unanswered questions.  Always complete all the details you can on an application.  Questions you may not think are important may actually have a big impact on your credit rating. 
  
  Ensure you complete your application honestly as lenders confirm the information you provide on the application form.
  
  
• Timing your application.  Almost all credit rating systems are sensitive to time and anniversaries. 
  
  You are certain to receive a more favourable response if you apply for credit before you leave one job to start another, for example, it is better to be employed for just over a year than just under. 
  
  This also applies when moving house.  It's best to apply for a loan before you move house or wait until just after an anniversary has occured.

If you have any concerns in relation to your circumstances, please do not hesitate to speak to one of our finance brokers who are more than happy to assist.

Our finance brokers possess a wealth of experience in finance, loans and lending for business, individuals and the self employed and can provide a wide range of finance solutions for motor vehicles, machinery and business equipment.  

Australia ranked 7th Richest Country in the World

Australians are becoming wealthier and more quickly than residents of other developed countries. 

Personal wealth in Australia increased more over the past five years than in any other developed country, according to research by Boston Consulting Group.

In the five years to the end of 2006, personal wealth measured in US dollars increased by 19.1% a year. This was more than double the increase in the global average of 8.6% a year.

The number of millionaire households in Australia increased 23% to 135,000 between 2005 and 2006, ranking Australia 12th globally.

Those 135,000 households own 31% of assets under management in Australia.

Personal wealth is defined as personal assets under management, including listed securities held directly or indirectly through managed investments, cash deposits and money market funds. It excludes wealth attributed to investors’ own businesses, residences or luxury goods.

The US has by far the most millionaires, followed by Japan, the UK, Germany and China.

New Car Sales Boom Continues

Australia's car boom continues, as does the boom in new truck sales.

Official figures for September released by the Federal Chamber of Automotive Industries (FCAI) show that the market grew by 3496, 4.4% campared to the same month last year.  A year to date total of 782,362, 8.3% rise campared to the first 9 months of 2006.

Although a slight decline on small passenger vehicles, sales of diesel using cars, light commercials,SUV's and passenger hypbrids continue to boom at a high rate.

The sale of Light Trucks, the pick-up cab chassis 4x4 segment was up by 23.3% and heavy truck sales rose to 14.5%.

Toyota was the top-selling car company in September with 18,358 vehicles ahead of Holden on 11632 and Ford on 8,818.  Toyota also leads the market on a year-to-date basis with 174,866 vehicles.

That's all for this month's edition. 

In closing, we hope you have enjoyed this newsletter and look forward to some feedback

All the best from the Team at

Lendcorp Finance

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