Credit Union car loan

FitterMan

I live 37 miles away from work... My car decided to give up on me going to work :mad: Its not worth fixing as I know it wont pass the nct in 3 weeks Moving closer to work isn't an option and there is no public transport there

I'm 20 and a member of the credit union as long as I can remember, not a regular saver tho but I go in now and then, I have almost 480 euro in it, but once made a payment of 1000 in and left it in it for 2 and a half months, I'm known personally by most of the staff and get on well with them. I want to ask for a loan of 1700-2000 to get a van, I'm really really stuck for one now. The bank turned me down already and CU was closed today.

Would it even be worth my while asking? I wouldn't have anyone to go as a guarantor either

tayto lover

FitterMan wrote: »

I live 37 miles away from work... My car decided to give up on me going to work :mad: Its not worth fixing as I know it wont pass the nct in 3 weeks Moving closer to work isn't an option and there is no public transport there

I'm 20 and a member of the credit union as long as I can remember, not a regular saver tho but I go in now and then, I have almost 480 euro in it, but once made a payment of 1000 in and left it in it for 2 and a half months, I'm known personally by most of the staff and get on well with them. I want to ask for a loan of 1700-2000 to get a van, I'm really really stuck for one now. The bank turned me down already and CU was closed today.

Would it even be worth my while asking? I wouldn't have anyone to go as a guarantor either

You shouldn't have any trouble at all. You are earning a wage and well able to repay loans. You don't even have to be a member to get a loan i believe.

FitterMan

I've just been hearing bad rep about them lately not giving out loans, I could comfortably pay them back 40 a week, I could even set up a DD with them as I'm paid into the bank, I'm really depending on this or I will be out of work by the weekend tbh 2000 isn't a hude sum of money to borrow

tayto lover

Just call into your local C.U. tomorrow and i am sure they will look after you. Don't be worrying. It's only a couple of grand anyway.

FitterMan

I'm on a wing and a prayer to get a loan....

tayto lover

FitterMan wrote: »

I'm on a wing and a prayer to get a loan....

You will have no problem, stop worrying

MagicMarker

What's wrong with the car and why won't it pass the NCT?

Captain Chaos

In my CU, the first loan you can take out is twice your current savings with them max, after that is paid off you can borrow 3 times your savings. I have been in mine 26 years and saving every week for the past 10 years but they are the rules and every CU is different.

tayto lover

Captain Chaos wrote: »

In my CU, the first loan you can take out is twice your current savings with them max, after that is paid off you can borrow 3 times your savings. I have been in mine 26 years and saving every week for the past 10 years but they are the rules and every CU is different.

My young lad took out a 4k loan recently and he only had a few euro in it. They all differ and some advertise car loans for people similar to the OP's circumstances.

FitterMan

Was refused a loan... they basically said not a hope in hell, p*ss off... but politely.

kearney13

Thats unfair I'm in the same boat and no joy on a gettin a 3k loan I can't believe ya couldn't even get a 2k loan any reason why?

tayto lover

FitterMan wrote: »

Was refused a loan... they basically said not a hope in hell, p*ss off... but politely.

Can't believe that. No problem getting a loan in Dundalk. Try some other CU. Feel for you now.

afkasurfjunkie

it really depends on the branch. i know someone on the board in our local one and at the moment the absolute MAX they will give to any customer, no matter how much they have in shares or how long they have been a member is 5000e.