i have no loans or credit cards, have €8,000 savings and earn aprox €1000 net per week. after my rent and bills are paid i have €2700 spending money each month to do what i like with. thats aprox €650 per week for me to do what ever i like with. i do also live in overdraft some weeks and have a limit of €1800.
i recently applied for a 20k car loan with repayments of €450 per month. i was declined within 5 minutes and told I did not have the capacity to repay it.
If i did get the loan i would have €2250 spending money after repayments.again thats around €500 per week. can anyone tell me how i do not have the capacity to repay it?
i have also re payed all my previous loans in full and on time
was it possible the bank did not have the capacity to give me the loan????!!!!