Doing a fas course and needing a loan

L

loulouC

Guest
Hi everyone!
I have just started a fas course and need to buy a small second hand car and was wondering if it is possible to get a loan while on my fas course!
i would greatly appreciate it if anyone could help
 
Credit Union is your best bet , none of the others will touch you if you are not in full-time employment.
 
Not being funny but if its just for transporting yourself...would you consider a moped. I did a course a few years back which was not accessible by public transport and found the moped great...very cheap to run...not great for the hair though :rolleyes:
 
hi mommah !! no it wont just be for me itl be for a baby aswel :L
 
thanks the shark! i wil have to look into it you have to save wih them first dot you?
 
Generally yes, you need to have some savings with them to borrow from them and usually, for a first loan anyway, they will only loan a multiple of your savings.

As for the moped, I do recall seeing more than one family (Dad, Mum + kids!) on a single bike in Asia :eek:
 
As so-crates has said , most Credit Unions will require that you have some savings. The lending criteria varies from one Credit Union to another but generally they will give you five times what you have in savings. The important thing is that you put whatever you can afford into your savings on a regular basis as they will want to see your pattern of savings when deciding on a loan application , even if its a small weekly amount.
If I were you I would contact your local Credit Union and ask them what their lending criteria is. You will also need to bring along some ID if you are opening an account with them , Passport/Driving Licence and a household bill as proof of address.
Good Luck.
 
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