Getting a loan?

wba88

Hey i'm thinkin about getting a loan of €4000. I will be able to pay it back fully in under 3months. Heres the catch I only hav one bank account in England with €1000 in it. As I am about to sit the leaving cert I do not have a job as well. I have a car worth €8500. My ma is willing to be a guarantor (sry about the spelling). Is there any bank out there that would think about giving me that loan??




p.s. yes this is a serious question:D

subway

not sure,
why dont you ask your ma to take out the loan and then you pay it back?

most banks want 6 months salary to have been paid into your account

BuffyBot

If you mother has a particularily good relationship with her bank branch, and you are also a customer there...maybe.

If not, I doubt it. As the last poster said, perhaps she would be willing to take it out in her name and pay it back?

wba88

yeah i might ask her later. she has just moved to rabo direct (around january). she has a full time job with a healthy income. how lonf would it take to get the cash from a loan? if i took out a 12month deal could i pay it off in 3months with the interest for only 3months??

BuffyBot

If you take out a loan and intend to pay it back early, it's best to look for a variable rate loan. These can normally be paid back early without penalty. Fixed rate loans tend to penalise those who break the term.

As for how long - well it depends on the bank in question.

wba88

thanx for the info. is it unheard of to get a loan completed in 24-48hours?

subway

no, in a branch if your pre approved you can get the money straight away.
if you apply online / over the phone allow about 2 weeks for forms to be posted , signed and returtned