Bank loan declined

C

cintec

Registered User
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14
Hi could do with some advice have never asked for a loan before but applied online with permanent tsb as I have been with them for over 20 years.

I wanted to get a 7k personel loan to buy a car but they won't give anyone a loan who isn't earning 30k+ apparently.

Since january I have saved over 4k and if i hadn't paid 2k for a course to further my career I would have more, yet they still wouldn't give me a loan I could easily repay.

Still want a loan but not sure if there is any financial institution that will give me a loan.
 
Hiya. Sounds a bit harsh alright. But do you really need the loan? If you were able to put away 4k plus pay for a 2k course since January, surely it won't take you all that long to save up the 3k you are short and hence you won't need to borrow at all?
 
Do you need to spend 7k on a car? If not perhaps forgo the loan altogether and use your savings - it is cheaper.

Alternatively do you have a CU account? They may be able to offer you a loan without the requirement to be earning €30k+.
 

From the sounds of things you are well able to manage this on your own without getting the loan.

Save up the money and buy it. You won't be tied to repayments then
 
I bank with bank of ireland, and find them excellant when it comes to giving loans they give you on the spot approval (or decline) over the phone. I earn less than 30k Dont save as much as you can and have never had a problem. The problem with your bank is that you probably don't have a credit rating for them to work on once you don't have that its sometimes impossible to get anything.
 
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