# Getting car loan on social welfare



## James Tate (18 Apr 2016)

My sister has  a child with special needs. She receives payments of 2300  euros a  month over all. She needs around 5000 euros what are her options. Ulster bank has already refused her.


----------



## eamo15 (18 Apr 2016)

try a credit union I doubt a bank will give a loan its not income . does that include rent allowance its allot of money from the tax payer but understand she obviously cant work due to circumstances. she could get a pcp  and hand back the car in three years.


----------



## vandriver (18 Apr 2016)

A PCP would require a fairly large deposit .


----------



## James Tate (18 Apr 2016)

No it doesnt include rent allowance.


----------



## Monbretia (18 Apr 2016)

Credit Union is best bet, they regularly loan to social welfare recipients.


----------



## Palerider (18 Apr 2016)

Depending on where you are in the country I have heard of smaller dealers doing a rent to own scheme, that would get her mobile without big expense but she would have a regular payment each month and a down payment, in the cases I am aware of the dealer has also been happy to upgrade the car when that day came along.


----------



## Bronte (19 Apr 2016)

Is the rent to own scheme a good deal.  What is PCP, some kind of car lease?


----------



## Gerry Canning (19 Apr 2016)

(PCP) Personal Contract Plan.
In effect, a glorified Hire Purchase Plan.
1. Smallish Deposit.
2. Agree mileage per year for term of PCP, any excess is penalized.
3. @ end of three years , you have an agreed resale value.
You then have option
A. Of paying off the balloon payment  
B. Handing back the vehicle , subject to fair wear and tare.
C. Use its market resale value to trade up into a new car.

The selling pitch are  the (low) monthly payments , most forget the large balloon payment @ end.
It has its uses but it ends up as a never, never ,never free of finance?


----------



## Waver (19 Apr 2016)

Ulster Bank are one of the few banks who do consider Carers Allowance for loan purposes. If they have said no would them lend her a lower amount? Could she get a car for what they would lend her? Are there any grants she could get if it needs to be an adapted car?


----------



## thedaddyman (19 Apr 2016)

There are grants and tax reliefs available which may assist once the car is bought but not sure how applicable they will be in this case

http://www.citizensinformation.ie/e...disabled_drivers_and_disabled_passengers.html


----------

