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best method of getting a loan

  • 09-01-2014 1:41am
    #1
    dunworth1
    Registered Users, Registered Users 2 Posts: 5,359 ✭✭✭


    I'm hoping to get a loan to purchase a new (used) car

    I have a credit union account with my local CU i attempted to apply for a loan
    last but as i have never gotten a loan before and hence have no credit rating

    I was told that i needed to first get a secure loan so i did as suggested
    and got a secure loan and paid it on time every week until paid off.

    i then waited a few weeks and went to apply for the actual loan i was looking for 2k at the time had about 1k in savings when i went in i was told that before i could get a loan that i needed to have a few secure loans taken out.
    I was fairly annoyed by this and as i needed a car for my new job.
    I took the 1k i had and went a bought a car that I could afford.

    as i so fairly annoyed i also stopped saving i was saving €20 every week
    i haven't lodged anything since then.

    what i am asking is what would be the best method to begin the process to preparing to apply for a loan.

    how am I supposed to gain a credit rating i don't have a credit card or anything like that i have no need for one nor do I want one.

    is it odd that i would have to get a few secure loans before i could apply for an actual loan (also i don't understand the point of a secure loan why would anyone take out a loan if they had the money in the first place)

    any help would be appreciated

    thanks


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