In what has turned into a bit of a "your-turn, my-turn" arrangement, it was finally my turn for a car upgrade - thanks to my trusty little Daewoo commuter developing some rather inconvenient clutch issues.
That Daewoo was originally a spur-of-the-moment purchase back in August 2009, when I accepted a new job in Sydney and suddenly needed a second car. With just four weeksโ notice before starting, I applied for a loan through Commonwealth Bank and started searching for a solid small-to-mid-sized vehicle.
But hereโs where it went sideways.
The loan process with CommBank became a circus. They needed one document, then anotherโฆ and then more. Being new to the job meant a probationary period, which slowed things even further. They then requested paperwork from my previous employment, banking history, and taxes from the U.S.
And then, on the Friday before I started my new job, they rejected my loan application - suggesting I "come back in three months" after probation was over to talk about a car and home loan.
Frustrated, I walked straight into a nearby dealership and bought a little runabout - cash - in 25 minutes. It wasnโt glamorous, but it did the job. The plan was to replace it within 6 to 12 months. Of course, that stretched to two years, and the Daewooโs issues only grew. Enough was enough.
Around this time, Jenifer had already upgraded to a Toyota LandCruiser, just before hosting visiting family. Her loan process was smooth (as it should be, since I'd been in my job for four months by then), and we saw an opportunity: roll both vehicles into a single loan for efficiency.
Back to CommBank we wentโฆ and once again, delays. And then - wait for it - they offered a staggering 18.5% interest rate, despite our perfect repayment record with them.
Thatโs when I discovered CUA Bank.
Their process was seamless. Within days, we secured a consolidated loan with a much better 9.99% interest rate, covering both the LandCruiser and my future ride - adding only $100/month to our repayments. It was a no-brainer. I moved all my banking over and performed my own version of โThe Big Switch.โ
The result?
I am now the proud owner of a Volkswagen Golf GTI, complete with APR ECU upgradeโboosting it to 188kW (252hp) and 411Nm (303 lb-ft) of torque. The handling is phenomenal. Power delivery is beautifully linear, with overtaking in 3rd gear feeling as strong as in 6th. Itโs just a joy to drive.
Sure, the GTI doesnโt sip fuel like the Daewoo, especially since it takes 98 octane. But weโve offset some of that by using the Golf for family trips instead of the thirstier LandCruiser. Jenifer even uses it for her commute a couple of days a week when Iโm working from home.
The leather interior and sunroof? Just icing on the cake. But hey, Iโm not one to look a gift horse in the mouth.
