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Bank Loan

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  • 26-06-2010 10:04pm
    #1
    LittleNona
    Closed Accounts Posts: 10 ✭


    HI,
    So i got a good paying job there about two weeks now and i went to the TSB to get a loan of 6000euro for a car.. I got refused the loan, they wanted two ppl to go on the loan application...Long story short i couldnt get anyone with pay slips etc etc... They were so ignorant as well:mad:, im old enough to apply for a loan by myself and the car was over 8000 anyway so they were ahead anyway if i wasnt able to pay it back.. (even tho i would have been able)

    Was thinking of switching my account to AIB.
    Anyone dealing with AIB bank?? Are they good for loans?? Is it just TSB who are hard on conditions now or are they all gone bad for giving out loans??

    Thanks :D


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    #2
    Mr Yellow
    Closed Accounts Posts: 192 ✭✭Mr Yellow


    Your best bet for a loan in these current times is probably the credit union - you need to be a member (have an account) with them for 3 months or so before you get a loan from what i have heard!


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    #3
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Two weeks into a job and looking for a 6k loan - of course they're going to look for some security. Any bank would - even more so these days.


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    #4
    daithimac
    Registered Users Posts: 515 ✭✭✭daithimac


    BuffyBot wrote: »
    Two weeks into a job and looking for a 6k loan - of course they're going to look for some security. Any bank would - even more so these days.


    but come on! its two weeks, thats two whole weeks!!! as in 14 day. a minimum 336 hours. thats at least one twelfth of the way through most probation periods. how could the not fall over themselves to give the OP a loan.


    Fools Fools I tell you, This truly is an example of the reckless lending decisions which have reduced this nation to our knees.


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    #5
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    AIB may be more open for business than PTSB, but they're also going to show you the door. Perhaps, if you try again next year, you might have more luck.

    Any intelligent lender will want to see evidence that this job is permanent. That means seeing you work there for your probation period as a minimum (6-12 months usually). Secondly, if you have only been working 2 weeks, how is the bank supposed to know your average earnings? Ideally, they will want to see your wages coming into you current account for the past 6-12 months so they can:
    • determine your average monthly income
    • how you're spending those wages and thus your capacity to afford the repayments.

    As for the security. You may be buying the car for 8K, but the moment you drive it out of the showroom, it's worth a lot less than that (especially to a bank, who, if they ever have to repossess it, would dispose of it at a big discount)


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    #6
    MagicMarker
    Banned (with Prison Access) Posts: 32,865 ✭✭✭✭MagicMarker


    LittleNona wrote: »
    HI,
    So i got a good paying job there about two weeks now and i went to the TSB to get a loan of 6000euro for a car.. I got refused the loan, they wanted two ppl to go on the loan application...Long story short i couldnt get anyone with pay slips etc etc... They were so ignorant as well:mad:, im old enough to apply for a loan by myself and the car was over 8000 anyway so they were ahead anyway if i wasnt able to pay it back.. (even tho i would have been able)

    Was thinking of switching my account to AIB.
    Anyone dealing with AIB bank?? Are they good for loans?? Is it just TSB who are hard on conditions now or are they all gone bad for giving out loans??

    Thanks :D
    You would be absolutely crazy (and stupid) to be getting a 6k loan after 2 weeks in work. Your employer can sack you for absolutely no reason at any stage for the next 6 months, and you won't have any kind of job security for at least 12 months.

    Smarten up.


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