Looking for a loan just moved back to Ireland

D

Don_08

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Hi

We have just moved back to Ireland and would like to take out a loan for a second car. We have a credit card balance of about 7k which we will pay off in next three months.

Salaries are 100,000 and 65,000.
We have about 2-3 k extra income each month on top of expenses.

We were living in an expensive country and out of work for a while there so ran through our savings and ran up the credit card.

Now back in a position to sort it out.

However, both in brand new jobs and only back in Ireland.

Mortgage on house is about 220k and it's worth about 340k so no negative equity.

Not getting the impression from boi who we talked to that we would stand a chance for a loan.

Is there any lender that would look at us? Our ICB record is very clean.

Don't really want to go and buy a Banger for 2-3k and would prefer to spend 10-15k for something more reliable as we do lots of driving down the country.
 
Pick your car in a garage, most garages have arrangements with car finance companies.Let them process the Hire Purchase.
If you can give garage copy wage slips and with a clean ICB and good history you have a good chance.
The (catch) is that the Finance house would require a deposit circa 25% of cost.ie your k3 for old banger.
If you get approval , let AAM know the cost/rates and we will advise if it is fair.

In the meantime (if not successful) with finance the banger might surprise you until you get bedded in back home.

ps. Great to see people moving back.
 
Hello,

While it may take a little longer, another possible solution is join a local credit union and begin saving... while the credit union will want to see some history on the account before granting a loan, they may be a little more willing to accomodate you at an earlier stage than your bank.
 
Would either of your employers sign off on permanent status, i.e ending the probation period. That should make a difference.
 
On savings of 3 k you have basically the 10k you need in 3 months, rent a car for 3 months. Your figures are not telling the full truth. What happened the income of 160k, where did your savings go.

Where is your income going? Kids education,debt or what..
 
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