FruitBooTeR
Member
Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
User status: Offline
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Sad times 
Applied for a loan at Satander as they had a decent APR rate..they wrote today saying they cant give me one as I dont score high enough in the assessment.
Its stupid, ive had a good job for the past 4 years and have a steady monthly income but as I still live at home with parents and dont have any credit cards my credit rating is proberly shit.
Gonna try my own bank HSBC see what they say, I dont mind paying 15.9% if I can get one.
If not then its either Finance on a VXR or save for another year!
I only need 7k which i can pay off quite easily, and I know some people on here will say they hate loans and you should just save but actually saving 7k is harder than it sounds when things come up all the time that cost money.
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fir3vip3r
Member
Registered: 14th Jun 06
Location: Stevenage, Hertfordshire
User status: Offline
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EXACTLY the same as me!
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John
Member
Registered: 30th Jun 03
User status: Offline
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Is it not better finding out what finance is on offer first?
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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I financed about £800 for the Punto. I'm already regretting it. May be it's because the novelty of the car has worn off, and with a 'better' car the feeling would last longer, but I'd rather be spending that ~£100 per month on something else than the car 
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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santander and the hardest to get from so i heard, but dont try anywhere else for another 3/4 weeks or else it will hammer your credit file and u wont get 1.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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15.9% APR 
don't be silly mate, it's not worth it.
just get a credit card and pay it off every months for 6 or so months.
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John
Member
Registered: 30th Jun 03
User status: Offline
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You financed 800 quid and you're complaining about it
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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quote:
Originally posted by John
You financed 800 quid and you're complaining about it
Yep. But I don't earn a great deal
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Its hard to borrow money from banks just now. Even more so at the advertised low rates of 8.9% & such like.
Go down the finance route, you should be able to get it at around 12% if you shop around. 15.9's too high!!
*awaits 10 pages by certain members on how loans are the devil!!
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FruitBooTeR
Member
Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
User status: Offline
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quote:
Originally posted by John
Is it not better finding out what finance is on offer first?
Would of preferred a bank loan tbh as IF trouble ever arose and the car needed to go it could, its much harder to get rid when your on finance.
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John
Member
Registered: 30th Jun 03
User status: Offline
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Not found it hard to borrow any money at all tbh, certain people will be more of a risk but in general it's been no harder even throughout the 'credit crunch'.
It's not really, sell the car, pay the finance off.
[Edited on 24-03-2010 by John]
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by deano87
quote:
Originally posted by John
You financed 800 quid and you're complaining about it
Yep. But I don't earn a great deal
you are one crazy man, deano
[Edited on 24-03-2010 by Ben G]
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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That's me.
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adiohead
Member
Registered: 28th Sep 01
User status: Offline
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quote:
Originally posted by deano87
I financed about £800 for the Punto. I'm already regretting it. May be it's because the novelty of the car has worn off, and with a 'better' car the feeling would last longer, but I'd rather be spending that ~£100 per month on something else than the car
I thought it was a typo at first.
I've borrowed about £20k throughout the years. Not gonna get finance again unless I have a really decent job. 7k loan & 10k loan for cars, 1k on an iMac and 2k on 0% credit cards for guitars.
It feels soooo good being debt free after those 7 years of paying about £230pm
[Edited on 24-03-2010 by adiohead]
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Daveskater
Premium Member
Registered: 29th Apr 08
Location: Oxford, UK Drives: Jap wagon
User status: Offline
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Ben's got the right idea, get a credit card with 0% for however many months then you can basically use it like an interest free loan. My dad did it to buy his last bike
Numberwang!
Originally posted by AlunJ
I like you Dave, you are a man of men
Originally Whatapp'd by Neo
Dave's maybe capable of a drive-by cuddle
Look at my pictures
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FruitBooTeR
Member
Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
User status: Offline
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quote:
Originally posted by Daveskater
Ben's got the right idea, get a credit card with 0% for however many months then you can basically use it like an interest free loan. My dad did it to buy his last bike
Virgin have got a card that is 0% for 12 months then 18.5% after..
Spose if they let you purchase 6-7k in one go I could pay as much off as and when I could for the first 12 months then 18.5% wont be as bad if there is hardley any left to pay off.
Hmm not sure though credit cards just shout out dodgy to me!
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John
Member
Registered: 30th Jun 03
User status: Offline
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You'll never get 7k on a credit card so it's completely useless for what you want to do.
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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With that kind of deposit to put down you will get a good deal on finance.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Its fair enough saying do the credit card shuffle, but even thats more difficult & risky now.
0% on new purchase cards are getting difficult to get for longer than 3-6 months & most will now carry a ballance transfer of around 3%. Feck that!! Also you'd need to be very sure the next one will follow through otherwise your going to be in deep shit.
Also, Ive never been offered a credit card with a higher limit than £4k & I recon ive got a pretty good credit rating. Do people on here really get credit cards to buy 10k cars!?
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FruitBooTeR
Member
Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
User status: Offline
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quote:
Originally posted by John
You'll never get 7k on a credit card so it's completely useless for what you want to do.
Will look into finance then I think depending what % HSBC offer, cheers
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Daveskater
Premium Member
Registered: 29th Apr 08
Location: Oxford, UK Drives: Jap wagon
User status: Offline
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Therein lies the problem. My limit is only £1k
Numberwang!
Originally posted by AlunJ
I like you Dave, you are a man of men
Originally Whatapp'd by Neo
Dave's maybe capable of a drive-by cuddle
Look at my pictures
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John
Member
Registered: 30th Jun 03
User status: Offline
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I'd find out the finance first of all, it might be crap but it might not, it's always a bargaining tool as well.
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FruitBooTeR
Member
Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
User status: Offline
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quote:
Originally posted by Ojc
With that kind of deposit to put down you will get a good deal on finance.
Aye will have at least half to put down in deposit proberly more.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by FruitBooTeR
quote:
Originally posted by John
You'll never get 7k on a credit card so it's completely useless for what you want to do.
Will look into finance then I think depending what % HSBC offer, cheers
Aim for 12%, any more & tell them to jam it.
Ask for them to try closed motor finance, thats who I use!!
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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my comment about credit cards was meant as though he should spend on his credit card and pay it straight off for a while to get his credit rating up.
my credit limit on my card is £2850 so obviously it wouldn't work
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