Car Loan Enquiries

Hikaru1985 SG

Hi all, I have a couple of questions I hope somebody can help me out with it.

I am planning to get a Honda Integra. However, I seriously doubt the bank will approve the loan because there are already 4 company cars loans under my dad's name.

Is there any way I can get loan from private finances (i.e if there are even such thing) ?
What are the chances of getting a successful loan judging on the current situation?

Note: I'm looking at a 80% loan over a period 7 years. Help is greatly appreciated

kaeden SG

Originally posted by Hikaru1985:
Hi all, I have a couple of questions I hope somebody can help me out with it.

I am planning to get a Honda Integra. However, I seriously doubt the bank will approve the loan because there are already 4 company cars loans under my dad's name.

Is there any way I can get loan from [b]private finances (i.e if there are even such thing) ?
What are the chances of getting a successful loan judging on the current situation?

Note: I'm looking at a 80% loan over a period 7 years. Help is greatly appreciated [/b]

yes loan shark

Cerebral_Assassin SG

You working now?

how much your income?

Honda Integra about 78k now, 80% loan + interest rate - rebate around 70k total loan over 7 yrs.... roughtly how much a month?

I think if you earning

if more than 2.5k might approve ba

This refers to personal loan.

As for company loan, u can try check out rules/regulations concerning which type of company your father owns and the "limit" if any on the number of cars under company. Also depends if company is doing well or not.

Hikaru1985 SG

Im only working temp, earning 3.5k. I have to go to uni in early August so I can be considered as income-less.

The company loan is already maxed out as they are for lorries and vans etc. The 4 company cars are in fact for the company's personnel but they are under 1 name. I solely believe with a 10k income, the bank will not approve the loan for a 5th car.
Is there any loan alternatives other than bank?
(other than loansharks as unneccasarily mentioned in the previous reply)