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AIB Car Loan Query

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  • 30-03-2010 12:09am
    #1
    xFROSTY Gx
    Registered Users Posts: 364 ✭✭


    Hey all,

    I hope to be purchasing a car in the next few weeks and was looking for some advice in going about getting a car loan.

    Some basic info.
    I'm 18. I am a college student. Working part time at the moment. Will be working full time for 10 weeks over the summer then back to part time work after this. I have 3000 euro already saved and would be looking to get a 4000 euro car loan over 48 months. My account is with AIB and have had one there for the last 5 years.

    So would you reckon I would be successful in getting a car loan from AIB?

    Or should I ask for a student loan instead?

    Any other tips would be greatly appreciated;) Thanks


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    #2
    dlambirl
    Registered Users Posts: 2,062 ✭✭✭dlambirl


    Have you checked that you will be able to afford the repayments?
    €4000 over 48 months is approx €104 per month.
    You can apply online or over the phone and see what they say..


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    #3
    xFROSTY Gx
    Registered Users Posts: 364 ✭✭xFROSTY Gx


    Sorry for got to mention that. Yes I would be able to afford the repayments. I was just kind of wondering what the success rate would be for a person my age looking for that amount:pac:


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    #4
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    Have you ever had a loan or a credit card before, and how long have you been working in your current place? Are you in a permanent position or a contract one?


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    #5
    xFROSTY Gx
    Registered Users Posts: 364 ✭✭xFROSTY Gx


    No I have never had a loan or credit card before which I guess wouldnt help me.:rolleyes:

    I've been working in the same place since may last lear. Its permanent employment, not contract:)


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    #6
    dellas1979
    Closed Accounts Posts: 4,128 ✭✭✭dellas1979


    Stall the ball there.
    You are looking to buy a 7k car? (4 loan plus 3 saved?) and put your self into debt?
    You are way better off using your 3k to buy a small 1L car and then getting your tax and insurance also.
    You are more than likely going to have a few scrapes and accidents as an 18 year old driving a year or so.


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    #7
    xFROSTY Gx
    Registered Users Posts: 364 ✭✭xFROSTY Gx


    dellas1979 wrote: »
    Stall the ball there.
    You are looking to buy a 7k car? (4 loan plus 3 saved?) and put your self into debt?
    You are way better off using your 3k to buy a small 1L car and then getting your tax and insurance also.
    You are more than likely going to have a few scrapes and accidents as an 18 year old driving a year or so.

    Yes debt does not bother me to be honest.
    This will be my second car. My first car was a 1.4l and worth around 2k so I now want to move on from that. I have been driving for just about 2 years. (I turn 19 in May) I have never even tipped a car going into a parking space or anything like that. Obviously I not saying that nothing will happen or anything but please dont assume that I will have a few scrapes or accidents.
    I also feel that having a car that value will make me take even more care with it then I did with my last. :D


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