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car loansFrequently asked Questions
Frequently asked questions: I'm not sure what car to go
for! Can you help?
This process will narrow down
your search. When you have decided on your requirements, take a little
time to research the current market price of the car you wish to purchase
whether through the newspaper, magazine, web etc. If you have already
chosen a car, we will satisfy ourselves as part of our underwriting process
as to its market value.
I've chosen a car and agreed a price. What steps are involved before I can drive away?
Completing an on-line
application takes less than five minutes. We will advise you of our
finance decision within 24hrs - often within 4 hrs. After that it is a
question of the dealer ensuring the car is ready and you gathering any
documents required. In normal circumstances, this usually takes a
couple of days. One rule - avoid Friday afternoons for collecting your
car! Buying a car is usually an
exciting event. One of the keys to its enjoyment is the ability to
comfortably afford the repayments on any finance taken out to buy it.
As a general rule, repayments due on other loans should not exceed 40% of your net income. Do I need to buy from a main dealer? In general cars should be
purchased from a reputable dealer. The dealer in question need not be
a main distributor for one of the major brands. In certain circumstances a
private sale may be accommodated but in general a car should be purchased
from a reputable dealer. For a private
sale, we would need details of Seller: Name, address and also car details
(model, make, year, chassis no, registration no etc). Terms are available from 2 - 5
yrs
What is the maximum age to qualify for
car finance?
What do you mean "Negotiate as a Cash Buyer"? By obtaining finance approval before
negotiating for the purchase of your car, you effectively
become a cash buyer and can therefore negotiate from a position of strength Can I borrow more than the price of the car? No - Our car finance facility is limited to
the lower of either the purchase price or our valuation of the car. What is included in payment protection? There are various forms of payment
protection, which you may take out when financing a car. These include
pure life cover, life cover and critical illness, accident or redundancy. Do I have a cooling off period? Yes - Under the Consumer Credit Act, you
have the right to a 'cooling off period' although this is often waived by
the customer. Will I receive a copy of the agreement I sign? Yes - A copy will normally be sent to you within
seven days of completion. Yes - a bank account is required to accept
direct debits. If I was refused a loan, would I be given a reason? No - In general underwriters will not give
their reason for refusing a loan. The most common reasons for refusal
are: Poor credit history, Asset over valued, payment capacity considered
insufficient. Where can I get a credit report? You may obtain a credit report which is a report of your status on the credit bureau by contacting the Irish Credit Bureau, Newstead, Dublin 14. Ph:01-2600388 about us -
contact us - info@financeirl.ie
- equipment finance & leasing -
car & fleet finance Address:
97 Malahide Road Dublin 3 |
2 Argyle Square, Morehampton Road, Dublin 4
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