Loan Top ups

Do all financial institutions generally offer top ups on loans (approx €3000 on a €16000). I have been repaying for 2.5 years (350 a month - never missed a payment). I got the loan to consolidate existing debts (had a guarantor as I have a bad credit history from these previous debts). I now feel back in control of my finances and want to get a small second hand car. I could afford to increase my payment on the existing loan to 500 per month, this would ensure that the term of the original loan that I want to top up would not increase. Any ideas? Oh I'm with UB by the way.

Thanks.

I'd expect the financial institutions to give you as much rope as you want (enough to hang yourself) especially as you have a guarantor. Will your guarantor be happy to sign again for a top-up? You say you have a bad credit record and have refinanced (at around 10%) which is fine but your looking for a top-up with only half of the repayments made. Have you factored in the tax, insurance, petrol, servicing etc.? You might be better advised to live without a car for a while longer but ramp up your repayments to pay off the refinance loan over 18 months or less (should be less than €800/month to pay off over 12 months). At that point you wont just feel you are back in control of your finances you will know so. Then buy a car for cash.