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Car Loan Credit Union

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  • 18-07-2011 5:09am
    #1
    strongbow2010
    Closed Accounts Posts: 2 ✭


    I just applied for a Credit Union loan to finance a Car purchase. I am in a secure job and have a consistent income weekly. I have some bills (phone bill, gym etc) but nothing crazy. I had saved very regular before through the years with the Credit Union but always had to withdraw for various things and only recently about 6weeks ago started saving with CU again.

    My worry is I have online betting on my Bank Statement and I am worried how this will affect my chances of getting the loan. We are talking about roughly €150 a week. That was up until a few weeks ago and I have cut back substantially. However I never bet beyond my means. This is my first loan and I have a guarantor for the loan as well. I plan to set the repayments up via direct debit to come out every Thursday when I get paid so the repayments will always go into the Credit Union.

    I am a little worried that I have no chance of getting it? Anyone have a similar experience and what there outcome was?


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    #2
    matt70iu
    Registered Users Posts: 415 ✭✭matt70iu


    Hi

    I recently got a top up loan for a car from the credit union. They are asking more questions than they used to, but the biggest change is they ask for proof of income such as a payslip.

    The other thing that goes in your favour is if you have shares with them to use as security. Gave them a couple of pay slips and they gave me a loan no problem.

    They never asked to see bank statements or anything like that. Their main concern is that you have the means to repay the loan and you have a good payment record with them. I'd say you should be fine.


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    #3
    loconnor1001
    Registered Users Posts: 323 ✭✭loconnor1001


    strongbow2010 wrote: »
    I just applied for a Credit Union loan to finance a Car purchase. I am in a secure job and have a consistent income weekly. I have some bills (phone bill, gym etc) but nothing crazy. I had saved very regular before through the years with the Credit Union but always had to withdraw for various things and only recently about 6weeks ago started saving with CU again.

    My worry is I have online betting on my Bank Statement and I am worried how this will affect my chances of getting the loan. We are talking about roughly €150 a week. That was up until a few weeks ago and I have cut back substantially. However I never bet beyond my means. This is my first loan and I have a guarantor for the loan as well. I plan to set the repayments up via direct debit to come out every Thursday when I get paid so the repayments will always go into the Credit Union.

    I am a little worried that I have no chance of getting it? Anyone have a similar experience and what there outcome was?
    Did it work out for you?


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    #4
    marley10
    Closed Accounts Posts: 1 ✭marley10


    HI THERE,IM 19 ON THE DOL AND WORK 20 HOURS A WEEK GET AROUND 340 A WEEK,IVE 2500 IN MY SAVINGS AND NO PREVIOUS LOAN,DO YOUS THINK ILL GET 5000 GRAND LOAN?
    and also my girlfriend wants a 10 grand loan and they said she can take out 4 times the amount of her savings because she has had a loan before,she has 2500 in her savings,do you think they will give her 10k?


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