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Motor Loans and Credit Union?

  • 04-02-2011 2:21pm
    #1
    dino-irl
    Registered Users, Registered Users 2 Posts: 15 ✭


    Anyone know anything more about DACU.ie? Heard them talking about it on The Last Word on Tuesday but my local CU knows nothing about it?

    The website suggests that all CUs are involved?


Comments

  • #2
    scotty7000
    Closed Accounts Posts: 7 ✭scotty7000


    Hi regarding car loans in credit unions in association with SIMI. Not all credit unions are involved in this scheme. It is for individual credit unions to participate or not. Check out other credit unions in your area.
    Look at www.dacu.ie web site and ask your credit union why they know nothing about the scheme.


  • #3
    Blazer
    Registered Users, Registered Users 2 Posts: 17,472 ✭✭✭✭Blazer


    just out of curiousity...the dacu site went down about 3 days after Simi's big announcement and still not back up....was this just a huge scam by SIMI just to drum up some interest in second hand cars?


  • #4
    Mr Benevolent
    Closed Accounts Posts: 12,456 ✭✭✭✭Mr Benevolent


    Sc@recrow wrote: »
    just out of curiousity...the dacu site went down about 3 days after Simi's big announcement and still not back up....was this just a huge scam by SIMI just to drum up some interest in second hand cars?

    I wouldn't put it past them.


  • #5
    scotty7000
    Closed Accounts Posts: 7 ✭scotty7000


    hello confab and scarecrow. No it was not a scam by SIMI , it was a genuine attempt by SIMI and some credit unions to offer loans for the purchase of cars,
    the Registrar of Credit Unions put the dampers on it. He does not like the idea. So it was closed down. When he says jump to credit unions these days the answer is how high sir?


  • #6
    Mr Benevolent
    Closed Accounts Posts: 12,456 ✭✭✭✭Mr Benevolent


    scotty7000 wrote: »
    hello confab and scarecrow. No it was not a scam by SIMI , it was a genuine attempt by SIMI and some credit unions to offer loans for the purchase of cars,
    the Registrar of Credit Unions put the dampers on it. He does not like the idea. So it was closed down. When he says jump to credit unions these days the answer is how high sir?

    Doesn't add up. Most CUs have preferential rates for car loans anyway. Why would they need to set up a website specifically for that? SIMI could've simply funded a radio ad campaign reminding people that CUs do cheap car loans.


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  • #7
    scotty7000
    Closed Accounts Posts: 7 ✭scotty7000


    You are probably right in what you say but this is the way they decided to go. I was at the meeting when it was discussed at the end of last year. I am involved in a credit union so I know the story.
    The main dealers have finance provided by the likes of Fiat,VW and Ford for new cars but it is the second hand dealers who only sell second hand cars who are really suffering from the shortage of finance


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