Car from NI

masterboy123

Is it easy enough to buy a car from Northern Ireland?
I checked VRT for this car. But don't have enough cash to pay all. Is it possible to get loan from my bank in Republic of Ireland for a car in NI?

http://www.usedcarsni.com/2014-Audi-A4-SE-177-BHP-TECHNIK-TDI-CVT-MASSIVE-SPEC-171191444

I would appreciate any advice.

Joeseph Balls

masterboy123 wrote: »

Is it easy enough to buy a car from Northern Ireland?
I checked VRT for this car. But don't have enough cash to pay all. Is it possible to get loan from my bank in Republic of Ireland for a car in NI?

http://www.usedcarsni.com/2014-Audi-A4-SE-177-BHP-TECHNIK-TDI-CVT-MASSIVE-SPEC-171191444

I would appreciate any advice.

Why wouldn't it. The bank dosnt care where the money goes, they just care they get it back, with interest.

Atlantic Dawn

Last time I checked with my bank for a loan for a car they would not give me actual cash for it, they would only supply a cheque/draft made payable to the garage that I would buy the car from, when I asked could I buy from a UK dealer they said no it had to be within ROI.

That car your looking at has the plates removed, no mention at all in the description of any level of service history, it would certainly be a prime example of a car that would require a complete and full history check.

pablo128

masterboy123 wrote: »

Is it easy enough to buy a car from Northern Ireland?
I checked VRT for this car. But don't have enough cash to pay all. Is it possible to get loan from my bank in Republic of Ireland for a car in NI?

http://www.usedcarsni.com/2014-Audi-A4-SE-177-BHP-TECHNIK-TDI-CVT-MASSIVE-SPEC-171191444

I would appreciate any advice.

Just get a personal loan. Tell them its for a new kitchen or something. Job done.

Joeseph Balls

Atlantic Dawn wrote: »

Last time I checked with my bank for a loan for a car they would not give me actual cash for it, they would only supply a cheque/draft made payable to the garage that I would buy the car from, when I asked could I buy from a UK dealer they said no it had to be within ROI.

.

Just got a 10k car loan. Money put in my account. I havnt found the car yet but when I do the money is there. What bank if you mind me asking? And what reason did they give?

Atlantic Dawn

Joeseph Balls wrote: »

Just got a 10k car loan. Money put in my account. I havnt found the car yet but when I do the money is there. What bank if you mind me asking? And what reason did they give?

AIB, they didn't give a reason just said must be from a dealer in ROI, it was about 5 years ago so things may have changed.

masterboy123

Ok. I would do a complete history check on any car before i buy.
For some reason we don't have high specs cars in Republic and if we do then its really high price.

Atlantic Dawn wrote: »

Last time I checked with my bank for a loan for a car they would not give me actual cash for it, they would only supply a cheque/draft made payable to the garage that I would buy the car from, when I asked could I buy from a UK dealer they said no it had to be within ROI.

That car your looking at has the plates removed, no mention at all in the description of any level of service history, it would certainly be a prime example of a car that would require a complete and full history check.

masterboy123

Wouldn't it be illegal?

pablo128 wrote: »

Just get a personal loan. Tell them its for a new kitchen or something. Job done.

masterboy123

Do you mind me asking what bank and how much APR?

Joeseph Balls wrote: »

Just got a 10k car loan. Money put in my account. I havnt found the car yet but when I do the money is there. What bank if you mind me asking? And what reason did they give?

pablo128

masterboy123 wrote: »

Wouldn't it be illegal?

It's a personal loan. You could spend it on coke and hookers. Once the bank is repaid every month I doubt they care.

Joeseph Balls

masterboy123 wrote: »

Do you mind me asking what bank and how much APR?

Credit union, sorry. Can't remember APR but it was a special rate but last day was Saturday. Chance your arm asking for the lower rate

naughtysmurf

Personal loans from a bank tend to have higher interest rate than car loans so factor that in when doing your sums

Mintoe

masterboy123 wrote: »

Is it easy enough to buy a car from Northern Ireland?
I checked VRT for this car. But don't have enough cash to pay all. Is it possible to get loan from my bank in Republic of Ireland for a car in NI?

http://www.usedcarsni.com/2014-Audi-A4-SE-177-BHP-TECHNIK-TDI-CVT-MASSIVE-SPEC-171191444

I would appreciate any advice.

€17k for 2yr old decent spec auto a4 with average mileage seems tooooo cheap

newacc2015

naughtysmurf wrote: »

Personal loans from a bank tend to have higher interest rate than car loans so factor that in when doing your sums

If you look at the AIB website a car loan is 8.45%-8.95% versus a vanilla personal loan being 8.95%. It isnt a massive difference. Even in CUs, most only have a marginal difference between a car loan and personal loan. Some dont make a distinction in rates for personal versus car loans

vandriver

Mintoe wrote: »

€17k for 2yr old decent spec auto a4 with average mileage seems tooooo cheap

It's £17k,which translates to over €25k with VRT.

masterboy123

That's 17k pounds...around 19k euros plus 6000 euros for VRT

Mintoe wrote: »

€17k for 2yr old decent spec auto a4 with average mileage seems tooooo cheap

masterboy123

I saw benz showrooms are offering 3.9% APR. 9% from bank is just too much and i would rather save more money over years than to give my hard earned money in interest.

newacc2015 wrote: »

If you look at the AIB website a car loan is 8.45%-8.95% versus a vanilla personal loan being 8.95%. It isnt a massive difference. Even in CUs, most only have a marginal difference between a car loan and personal loan. Some dont make a distinction in rates for personal versus car loans

bladespin

Atlantic Dawn wrote:

AIB, they didn't give a reason just said must be from a dealer in ROI, it was about 5 years ago so things may have changed.

Might be secured against the car. Personal loans aren't secured like this.

bazz26

Most bank car loans are secured and can basically be a HP agreement. Dealers offer similar type HP loans so check their rates as they can be more competitive than your bank.

Bank personal loans are unsecured but come with a much higher interest rate because the risk of getting less back is higher for the bank in the event of the loan going bad.

Credit Union loans can be either secured or unsecured. A Credit Union secured loan is crazy in that you can secure your savings against the loan amount to avail of a lower interest rate. In essence you are borrowing your own savings and paying the Credit Union interest on it.