Sub Prime Lending (Not Mortgage)

J

jeepers5

Guest
Hi All,

Just wondering about any companies / "banks" that offer sub-prime lending in Ireland, for car loans etc. My credit history was shot to pieces when business went awol for a few months back in 2005, and since i'm self-empolyed sole trader, all loans etc , that had a delay in repayments were all in my name, and now i can even get a credit card...

Is there sub-prime lenders in Ireland for these purposes?

Any comments welcome,

Thanks folks
 
Your local credit union might be worth considering if they are not [broken link removed].
 
moneyhoney said:
GE Money
Blue Cube Loans (launched last few weeks)
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Have bad history with GE , and Blue Cube are not sub prime, they are "risk based", and the apr is set against your work record etc, but they still go through all of the usual credit checks etc.

Any one else...
 
The don't seem to be listed [broken link removed] under that name anyway.
 
Bluecube are part of the PTSB group, inquiry/reporting is done under "Permanent TSB Finance".
 
So there all the one after all.... so much for being new!!

I think there is def business in Ireland for a sub prime lender to open up shop, and not only for home loans.. even if they charge a higher apr like 12-13%, its a bit of a joke that once you go through a single bad patch, thats it for a least five years,

Thanks all for replying..
 
No offence but customers of financial institiutions who don't get into such difficulties and the shareholders of same might beg to differ and be thankful that they are not obliged to subsidise or assume the risk of dealing with those with credit history problems.
 

Clubman, your ignorance on this matter is very surprising.

Firstly, I would not for once expect customers or indeed shareholders of any financial institution to subsidise any liability on my behalf, and they never have, i was merely ascertaining the fact that not everyone is perfect, and that minor slip up's can & do occur, and i feel that the 5 year penalty is a bit harsh.

Furthermore, i was stating that such financial institutions could charge a higher rate of interest, to protect their interests from such risk, and that there would be a market for such loans, as with sub-prime mortgages.

This form of credit has & is working in other EU countries, including the UK & Northern Ireland.
 
jeepers5 said:
Clubman, your ignorance on this matter is very surprising.
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I don't think that I am ignorant of the pertinent facts in this context.

By the way - if you think that there's a viable business opportunity in subprime unsecured lending then why not go for it yourself?
 
Firstly, Clubman, to clarify, I never mentioned that any sub-prime loan that I would be interested in obtaining would be unsecured. I have plenty of assets that I could use.

Secondly, you are an experienced poster, with 27,818 posts, and you are an administrator on these boards. Your suggestion that I should set-up business as a sub prime lender, when I clearly stated in all of my above posts that I was experiencing difficulties, is derogatory, short sighted & very cynical.
 
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