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Quick Personal Loan Question ?

  • 06-06-2017 9:46pm
    #1
    pudzey101
    Registered Users, Registered Users 2 Posts: 3,925 ✭✭✭


    Im looking at getting a small personal loan (3k)

    Is it best to go with your own bank or Credit union ? ( member of both) .

    Monthly repayments would not be a problem as i would be able to afford/provide 400-500 a month.

    The loan is for a car so just looking for opinions as iv never taken one out .


    any help appreciated

    thanks :)


Comments

  • #2
    Avatar MIA
    Closed Accounts Posts: 6,750 ✭✭✭Avatar MIA


    pudzey101 wrote: »
    Im looking at getting a small personal loan (3k)

    Is it best to go with your own bank or Credit union ? ( member of both) .

    Monthly repayments would not be a problem as i would be able to afford/provide 400-500 a month.

    The loan is for a car so just looking for opinions as iv never taken one out .


    any help appreciated

    thanks :)

    What interest rates are you getting?

    What you consider affordable may not be what a bank considers affordable.


  • #3
    pudzey101
    Registered Users, Registered Users 2 Posts: 3,925 ✭✭✭pudzey101


    Thanks for the quick reply . I didnt get any rates yet just said id ask online before calling to both tomorrow :)

    Visited bonkers.ie and a loan of 3000 over 6 months would be 510-520 monthly which i would most likely manage


  • #4
    Avatar MIA
    Closed Accounts Posts: 6,750 ✭✭✭Avatar MIA


    pudzey101 wrote: »

    Visited bonkers.ie and a loan of 3000 over 6 months would be 510-520 monthly which i would most likely manage

    And if you were the one authorising the loan I'm sure you'd get approval. ;)

    Why not spare up the money over six months?

    To answer your question, I think the CU would be more suitable. A bank has little interest (pardon the pun) in loaning for 6 months on such a small amount. It wouldn't be worth the paperwork.


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