Anyone hear of a new Car Finance company starting here in Feb?

cramp

My father tells me that he read last month in the paper that there was a new finance company starting here in mid Feb< been lookingh around for some info and can find none>>>
anyone read anything?


Cramp

Motorcheck

I haven't heard anything. The SIMI announced an initiative with the credit union over the weekend. Maybe that's it?

glic71rods46t0

check out www.dacu.ie - its the website of the new initiative announced by the credit union movement and SIMI.
If you fill in the online loan enquiry form it sends an email of your details to the credit union nearest to where you live and they contact you with details of how to apply for a loan with them.

scotty7000

Motorcheck I think this is what your are asking about,
a new UK based motor fianance company is entering the Irish car fianance market in the coming week. They will trade in Ireland as First Auto Finance and offer loans with an average interest rate of between 8.75% and 9.75%, though the terms will depend on individual circumstances. In England they trade as Close Motor Finance.

scotty7000

cramp wrote: »

My father tells me that he read last month in the paper that there was a new finance company starting here in mid Feb< been lookingh around for some info and can find none>>>
anyone read anything?


Cramp

Cramp
I think this is what your are asking about,
a new UK based motor fianance company is entering the Irish car fianance market in the coming week. They will trade in Ireland as First Auto Finance and offer loans with an average interest rate of between 8.75% and 9.75%, though the terms will depend on individual circumstances. In England they trade as Close Motor Finance.

ardmacha

The last thing the country needs is more borrowing at ridiculous interest rates.

scotty7000

the rates may be ridiculous ardmacha but they must think they will have a market for them

mickdw

ardmacha wrote: »

The last thing the country needs is more borrowing at ridiculous interest rates.

Well Ive heard BOI are at 14% for new car loans so competition is needed.
Those rates are crazy (and the person that was quoted 14% was a guard so its not like there were job security issues.) Seems to be across the board.

R.O.R

scotty7000 wrote: »

Cramp
I think this is what your are asking about,
a new UK based motor fianance company is entering the Irish car fianance market in the coming week. They will trade in Ireland as First Auto Finance and offer loans with an average interest rate of between 8.75% and 9.75%, though the terms will depend on individual circumstances. In England they trade as Close Motor Finance.

8.75% to 9.75% is a pretty decent rate for finance at the moment.

Cookie_Monster

R.O.R wrote: »

8.75% to 9.75% is a pretty decent rate for finance at the moment.

+1 to that.

The current rate by the bank here are more like credit card rates.
Friend who lives in Manchester recently got quoted 14.9%, so not great over there either.

scotty7000

regarding car finance , Trinity Credit union in Donaghmede is offering car loans at 6.95% = 7.20% APR. which is a good rate over 5 years.

thequeenvic

Hi yes ive been googling them. Apparently they turn up on the doorstep if your eve one payment late

bazz26

6 years later...

coylemj

thequeenvic wrote: »

Hi yes ive been googling them. Apparently they turn up on the doorstep if your eve one payment late

Six years after the last post, that's really interesting - if you live in Donaghamede.