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Loan for car

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  • 27-11-2012 10:46pm
    #1
    KingFred
    Registered Users Posts: 4 ✭


    I'm thinking of getting a loan for a used car sometime next year, never got a loan before and I was wondering how likely it is I could get one? I'm 21, in full time employment training to be a professional in second of a five year contract. I live with my parents and my net wages per month after all expenses is around €1,000, I have about €7,000 saved up. Looking at a loan for about €6,000 over 24 months what are my chances of getting one?


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    #2
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    my advise is don't borrow to buy a car even if a bank is willing to lend to you.


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    #3
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    Agreed. €5k will buy a really good used car these times.


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    #4
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,078 Mod ✭✭✭✭AlmightyCushion


    Would you not just use your savings to buy the car? It would save you a small fortune in interest charges.


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