Chances of me getting a loan?

december2019

I'm looking to get a loan of approx. €3000 = €4000 to put towards buying a car.
I currently have about €10000 in my bank and I'm hoping to use €4000 of this also.
My weekly income tough is from part time work and is about €260 a week and I'm currently on a PUP Payment. I can only work part time due to my family set up.
I've never had issues making the direct debits, etc and I've no real outgoings regarding rent, etc.

So, have I any chance of getting the loan?

Wesser

Id say ypu should be ok. They can lengthen out the duration of the loan to reduce the size of your repayments.

Bigger question is why are you borrowing if you already have the money. I would advise you to use the money you have.

Alternatively... if you have a low income and you feel financially vulnerable.... buy a cheaper car. You can upgrade in a year or two when you are financially more stable.

Try not to get into debt if you are financially vulnerable.

december2019

I'm very torn about what to do to be honest. Originally I was going to use the money I had but something scares me about draining out my bank account and I wouldn't mind paying the interest and I do think I could make the payments.
I'm considering going the cheaper option also but I'm just drawn towards something newer.
Thanks.

I've calculated running costs, insurance, etc.

Wesser

We are all drawn to something newer!

But i think just play it safe this year

december2019

Wesser wrote: »

We are all drawn to something newer!

But i think just play it safe this year

Thanks, I am considering that.

I was mainly just wondering about my chances of getting the loan.