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Has anyone had experience with obtaining a car loan from a local bank? Just wondering if it's similar to the States or if it's a difficult process?? Thanks!
Posted : April 25, 2005 1:54 am
Probably similar to the US mainland. Establishing a bank account here (which you would need to take out a loan for a car or anything else) is relatively simple. However, in order to take out a loan from any lending institution you'll be required to establish residency of at least one year and a job (paystubs for a year) before any bank here will even consider giving you any sort of a loan for anything.
Posted : April 25, 2005 3:41 am
I had some tenants get a small loan($4500)to buy a car and they were her two weeks! One job gave one of them a letter saying she was working a month and she hadn't even started as yet! She did have impeccable credit though.
Ronnie
Posted : April 25, 2005 12:07 pm
Pentagon Federal Credit Union (www.penfed.org) is outstanding. Applying is quick and easy by phone or net, they're pretty liberal about qualifying members, and their rate was less than half what the local banks (and dealers) quoted. We picked out two cars, called them with the details and had a check within a week.
Posted : April 25, 2005 3:03 pm