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Car loans without credit history

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Active Member
Joined: 6 years ago
Posts: 8
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Preparing for our moving to Ireland in February. Just set up an Irish bank account, and they mentioned we need to start building credit history, and that getting a car loan right away wasn't likely. More like we'd need to build credit for a year or so before a car loan or mortgage would be possible. 

Anyone else have experience with that? Is it true? I'm wondering if my US credit history does any good, or if a car dealer will be willing to help you out if you give a good size downpayment.



Honorable Member Admin
Joined: 10 years ago
Posts: 655

Hi Kevin!

Yes, a mortgage will be tricky within the first year, but a car loan should not be. Most community credit unions look very favourably on small loan seekers. Establish a rapport with one asap upon arrival. 

US credit history can help. I remember printing out details of my own, and using it for a variety of financial transactions. It's not going to be as cut and dry as a piece of financial history, but most Irish institutions are familiar with it, and it can be useful. 

Lastly, getting a loan from a non-bank type organization isn't as commonplace as it is in the US. Banks and credit unions are the norm for money lending. 


I hope this helps! Let us know how it goes.