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Getting a car loan

  • 27-04-2018 10:08am
    #1
    Cona
    Closed Accounts Posts: 591 ✭✭✭


    Hi folks
    Wanted to just ask for advice on getting a loan as I am clueless when it comes to all things finance related...

    Anyway, my situation is, I have a mortgage and have an existing Credit Union loan with about 7000 remaining. My car has just kicked the bucket and I am trying to understand the options I have for getting a car loan. First off, I want to note that I do have the money to replay another loan, that is not a problem. However I imagine a CU or bank would not want to give an additional loan considering I have an active loan already.

    Is restructuring an existing CU loan possible?


Comments

  • #2
    Spocker
    Moderators Posts: 6,900 ✭✭✭Spocker


    Restructuring an existing loan in a CU is possible, but it does depending on your repayment capacity, and the loan policy in your individual CU. The best advise for now is to drop in a talk to a loan officer in your CU, it can't hurt, right?


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