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Car Loan

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  • 21-05-2006 7:49pm
    #1
    TOPDAWG
    Closed Accounts Posts: 637 ✭✭✭


    Hey got a deposit put down on a 99 astra at the mo and goin to the bank tomorrow for a car loan.

    Just wondering if anyone would know how long it takes to get approved for one, as in a few days or would they approve it on the spot?

    And also if it is approved do they give it straight to the dealer or give myself the cash for it?

    Cheers folks. Thanks a mill.


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    #2
    Owen
    Registered Users Posts: 12,683 ✭✭✭✭Owen


    Normally approved within 3 hours or so. They can do an EFT to the Dealer for you, or give you a draft to bring to the garage. If they transfer funds to the Dealership, get them to phone the garage to confirm it for you.


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    #3
    bazz26
    Registered Users Posts: 51,243 ✭✭✭✭bazz26


    I presume it is just a normal car loan you are getting and not finance? As far as I know a normal car loan should take no more than a couple of hours to approve in principal if you already have an account with the same bank. If approved they usually deposit the amount into your account after a few days. You can then get a draft made out to the garage in question.

    If you are getting finance (hire purchase agreement) then the bank deals with the garage directly, you don't see a cent of the money.


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    #4
    Darando
    Registered Users Posts: 723 ✭✭✭Darando


    Dont just go to your own bank either. Look around for the best rate and conditions, i.e. can you pay it off early? pay off extra amount if you have some extra cash that month etc. also fixed against variable (anyone know if rates will go up much???) some places will give you free aa/rac with a car loan.

    g/f recently was looking recently and i think tesco had a good rate. www.tesco.ie

    And yes, there are as many options for car loans as there are places selling cars!!!


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    #5
    drdre
    Closed Accounts Posts: 8,245 ✭✭✭drdre


    donot rush out and get a car loan.make sure you get a good dealas they will scam you if you rush and say yes to them.be aware.
    i got mine at 6.5 last year so look around.


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    #6
    Dub13
    Moderators, Recreation & Hobbies Moderators Posts: 21,252 Mod ✭✭✭✭Dub13


    Would you not have been better of getting the loan first...?


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    #7
    drdre
    Closed Accounts Posts: 8,245 ✭✭✭drdre


    Dub13 wrote:
    Would you not have been better of getting the loan first...?
    yes thats what i would have thought.i donot think he knows what hes up for.as on the last minute dealers or banks donot give good deals they know you just want a quick loan:mad: .thats what i did 1st ,i researched who was cheapest and got approved by them ,then went out and got the car.


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    #8
    TOPDAWG
    Closed Accounts Posts: 637 ✭✭✭TOPDAWG


    Alright folks. I actually got a decent one of my own bank,over the course of 3 years il only pay back an extra 650 on 5000. i dont reckon thats too bad. And im actually paying back less per month than i was when with the credit union. Either way im happy out and cars going well, so fingers crossed.

    Cheers again!


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    #9
    drdre
    Closed Accounts Posts: 8,245 ✭✭✭drdre


    TOPDAWG wrote:
    Alright folks. I actually got a decent one of my own bank,over the course of 3 years il only pay back an extra 650 on 5000. i dont reckon thats too bad. And im actually paying back less per month than i was when with the credit union. Either way im happy out and cars going well, so fingers crossed.

    Cheers again!

    so what rate did you get and from what bank.thanks


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    #10
    jimmycrackcorm
    Registered Users Posts: 14,339 ✭✭✭✭jimmycrackcorm


    5000 seems dear for a 99 Astra though I'm pleased at that as the Mrs will be selling here 00 Astra in the near future and I thought the price range would be a lot less than that.


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    #11
    Ay Cee
    Closed Accounts Posts: 905 ✭✭✭Ay Cee


    That does seem very high for a 99.


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    #12
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭JohnCleary


    Who said hes paying 5k for a 99 astra?

    He could be getting money out for insurance, alloys, go faster stripes :D


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    #13
    kluivert
    Registered Users Posts: 2,399 ✭✭✭kluivert


    How much is the car??

    I have a 1999 Astra 87k miles on the clock. Just wondering about a price check.

    I have quiet awhile till I reach my target of 200k miles. Not too long to the half way mark hoefully :D

    As with above shop around.


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    #14
    TOPDAWG
    Closed Accounts Posts: 637 ✭✭✭TOPDAWG


    It was 4,500. in immaculate conditon.60,000 on the clock and serviced and a brand new timing belt in her.

    To the person asking about the rates, i went for the fixed rate of 157 a month for 36 months with aib. over 24 months it would have been 228 a month.

    Im delighted with her and from talking to anyone else who has an astra ive been told (and i knew myself beforehand) that it was a great price for that.

    (Sorry i keep referring to it as HER,shes my baby! ha ha)


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    #15
    kc66
    Registered Users Posts: 2,267 ✭✭✭kc66


    Do you have a credit union account? I got a 3k loan for a car and the total cost over 12months was around €60. It was an old account I didnt use and there was no money in it. The cost of your loan is over 10 times that. I know its more money and a longer term but the CU is cheap.


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