Get a finance quote from a car dealership many of whom do finance. I'd also be asking AIB why the loan wasn't a runner. Credit unions are expensive when you factor in tying up your savings, for security, over the course of the loan repayments.
The dealerships almost certainly go through the same process as AIB.
Dave 14;
AIB made such a mess of their lending they now start with the notion , that like them you too are not creditworthty , they will not willingly give out any unsecured lending.
They do not , nor should they give a reason for not lending, it is their money=their call.
From thinking about it, what comes to mind as a potential issue getting a loan from AIB is that I am technically self-employed. I am an external contractor, but have a almost two years left on a solid fixed term contract. My gross income from this is about €40k p/a, net into my AIB account per month about €2,200.
Am I wasting my time chasing up AIB or should I look at opening a Credit Union account and starting to save there regularly before seeking a loan? I have about €1,500 in my AIB savings account that I could lodge into the CU also.
Thanks for the advice and feedback guys.
The whole self-employed situation when it comes to credit is a bit of a pain it seems. It's funny as if I was a permenant employee I would be earning less than contracting, particurally as I am still quite young, but would have greater access to credit. I can understand the banks position though in terms of long-term security.
I am going to open a CU account this weekend anyway as would be good to put some money away every week anyway. In the short term however, I will look into the financing options through dealerships.
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