Getting a loan through an Austrian bank
in Banking, Insurance & Loans ·
Brenda Rogers41 said:Honestly, 9% is a killer interest rate. My Amex charges me around 14%, and don't even get me started on overdraft fees at my local bank. It actually makes me wonder if securing a loan abroad might be a safer bet than dealing with the banks here in the States.🤷 I’m planning to hit up some smaller credit unions tomorrow to see if they can beat that, but if they come up empty, I might just pull the trigger on this deal. If anyone else has gone through this, please weigh in. I want to hear it all—even the horror stories. Specifically, I'm curious about that whole mess regarding altering pay stubs😲.
Greetings. Here is a bit of my own experience. My husband and I found a car through an online listing, and naturally, we loved it and went to pick it up because the monthly payments seemed manageable. But, as Terry Ross11 mentioned, if you aren't considered "creditworthy" here, you run into walls. We ended up going through an Austrian bank in Vilah, or however it's spelled. Out of an abundance of caution, we reported the loan to the Federal Reserve so it would be registered here in America. It wasn't a problem at all since everything was ultimately handled through a law firm in Cleveland. We didn't have a huge amount to pay back either; on a loan of 9,300 dollars, we ended up paying back 11,200 dollars total. The takeaway? You simply have to do your homework properly.😛