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Car Loan Approval Time

  • 08-02-2017 08:53AM
    #1
    Squall Leonhart
    Closed Accounts Posts: 1,794 ✭✭✭


    Hi,

    Wondering how long it would take to get approval on a car loan of 6,000? (on the assumption that all boxes were ticked and all criteria satisfied)

    Is there any quicker way to apply, e.g., is calling in to a branch quicker than applying online, or by phonecall etc?


Comments

  • #2
    Bank of Ireland: Tara
    Closed Accounts Posts: 2,346 ✭✭✭Bank of Ireland: Tara


    Squall Leonhart wrote: »
    Hi,

    Wondering how long it would take to get approval on a car loan of 6,000? (on the assumption that all boxes were ticked and all criteria satisfied)

    Is there any quicker way to apply, e.g., is calling in to a branch quicker than applying online, or by phonecall etc?
    Hi Squall Leonhart,

    Thanks for getting in touch with us here on Boards.ie

    Approval is generally received within 48 hours. The time frame is the same for branch, phone or online applications. If you'd like to apply online, please see here. 

    Thanks
    Tara


  • #3
    Squall Leonhart
    Closed Accounts Posts: 1,794 ✭✭✭Squall Leonhart


    Thanks Tara.

    One additional question..

    Can additional payments be made to a loan?

    What I mean is, if I borrow X over 3 years, with a monthly repayment of Y, can I pay off - say - 500 euro of the loan outside of my monthly payments if I had some extra spare in a particular month?


  • #4
    Bank of Ireland: Tara
    Closed Accounts Posts: 2,346 ✭✭✭Bank of Ireland: Tara


    Squall Leonhart wrote: »
    Thanks Tara.

    One additional question..

    Can additional payments be made to a loan?

    What I mean is, if I borrow X over 3 years, with a monthly repayment of Y, can I pay off - say - 500 euro of the loan outside of my monthly payments if I had some extra spare in a particular month?
    Hi Squall Leonhart,

    If you take out the Standard Car Loan you can make additional repayments as it's a variable rate loan. If you'd like me to arrange a call from the Car Loan Team, please feel free to send us a private message by clicking the link under my signature. 

    Thanks
    Tara


  • #5
    Squall Leonhart
    Closed Accounts Posts: 1,794 ✭✭✭Squall Leonhart


    Bank of Ireland: Tara wrote: »
    Squall Leonhart wrote: »
    Thanks Tara.

    One additional question..

    Can additional payments be made to a loan?

    What I mean is, if I borrow X over 3 years, with a monthly repayment of Y, can I pay off - say - 500 euro of the loan outside of my monthly payments if I had some extra spare in a particular month?
    Hi Squall Leonhart,

    If you take out the Standard Car Loan you can make additional repayments as it's a variable rate loan. If you'd like me to arrange a call from the Car Loan Team, please feel free to send us a private message by clicking the link under my signature. 

    Thanks
    Tara
    Thank you Tara.
    Good to know. Not quite at that stage yet, still haggling a price with a dealer ;)


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