Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on [email protected] for help. Thanks :)
Private profiles - please note that profiles marked as private will soon be public. This will facilitate moderation so mods can view users' warning histories. All of your posts across the site will appear on your profile page (including PI, RI). Groups posts will remain private except to users who have access to the same Groups as you. Thread here
Some important site news, please read here. Thanks!

Want to buy a car using monthly payments, but my credit history isn't great

  • 06-12-2021 12:32am
    #1
    Registered Users Posts: 1,443 ✭✭✭ actuallylike


    Hello all,

    I'm looking to buy a car on monthly payments, have never bought before. I was looking to use ~10% of my monthly income which would be €290 (can probably round up to €300, but would go down to €250 as well).

    Problem is, my money management isn't great, are their checks about credit history first? I've been able to put away around €400/month before so based on that I should't think there'd be a problem. I've also made a few changes to my monthly payments recently, so they should be reflective in my balance soon. Coupled with a raise due in January, I'll be back in the green very soon.

    I did partake in some investing over the past year, so I haven't been saving as much throughout the year so not a lot of savings recently tbh, assume this is the time line they'd be looking at.

    Do dealerships assess your history before they enter a contract? I would assume they do. Pretty clueless about it all.

    Thanks all.



Comments

  • Registered Users Posts: 7,893 ✭✭✭ cml387


    If you are worried about your credit rating you can check on the Central Credit Register

    Note that the ICB ( the body t hat used to operate the credit check process) ceased its operations in September and deleted all its records.



  • Registered Users Posts: 14,306 ✭✭✭✭ jimmycrackcorm


    It's no harm to try with a dealership as often they can get you a credit deal for a car even without a great record. I don't know about the CCR, but loan requests used to show up on the ICB records so it wasn't a good look if you were refused a loan through that. But your follow-through option should be to regularly save in the Credit union and you'll have the best chance then to get a loan.



Advertisement