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Credit union car loan

  • 21-11-2016 12:59pm
    #1
    Willcauley
    Registered Users Posts: 2 ✭


    Hi I want to apply for a loan from a credit union and it will my first time loan as I am applying for a car loan and pay 35 weekly on savings and have been with this credit union for over 8 months . Any advice on how much can get. Or evening advice would be grateful.
    Thanls


Comments

  • #2
    Spocker
    Moderators Posts: 6,864 ✭✭✭Spocker


    Willcauley wrote: »
    Hi I want to apply for a loan from a credit union and it will my first time loan as I am applying for a car loan and pay 35 weekly on savings and have been with this credit union for over 8 months . Any advice on how much can get. Or evening advice would be grateful.
    Thanls

    No one here can really tell you, without further information - how much is in your shares, your earning capacity, debt-to-income ratio, etc.

    Have a look at the information here: http://www.creditunion.ie/car-loans/
    and perhaps try a CU website that has a loan calculator, such as this one: http://www.dundrumcu.ie/loan-calculator/


  • #3
    Willcauley
    Registered Users Posts: 2 ✭Willcauley


    In my savings is 25 shares income of 342 family income


  • #4
    Spocker
    Moderators Posts: 6,864 ✭✭✭Spocker


    Best bet it to drop into the credit union and have chat with them


  • #5
    Big Bag of Chips
    Administrators Posts: 14,263 Admin ✭✭✭✭✭Big Bag of Chips


    Each credit union will have their own criteria and conditions. I know my credit union, your first loan could only be 2 and a half times your savings. After that you could borrow whatever they were happy to give you.

    My first loan was about 15 years ago though, so things might have changed a lot since then!


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