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Car on careers allowance

  • 22-03-2017 9:52am
    #1
    dosull
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi just wondering is it possible to finance a car on carers allowance?. Can't afford to buy a new one and really rely on it for transport.


Comments

  • #2
    colm_mcm
    Registered Users, Registered Users 2 Posts: 73,522 ✭✭✭✭colm_mcm


    The thing to consider here is how much disposable income you actually have, and how much of it you can really spend on financing a car, every month of every year.
    New cars still cost 15/20/25k, no matter what way the finance is dressed up.

    There are plenty of cars you can buy on a smaller budget that would give you years of trouble free motoring. My wife's car is 17 years old and I reckon it's got maybe €500 spent on servicing and repairs in the last 5 years. That car cost €2000 5 years ago.

    A credit union loan might be the best option here.


  • #3
    cros13
    Registered Users, Registered Users 2 Posts: 3,285 ✭✭✭cros13


    colm_mcm wrote: »
    A credit union loan might be the best option here.

    Agreed... and definitely don't fall for any fly-by-night dealers who'll tell you they can arrange finance... there'll be a catch.

    In general a credit union will be direct and honest with you and can help you out by allowing you a bit of leeway to demonstrate your ability to payback the loan.


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