JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
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just roughly on a 3k loan am i lookinh 5% or 20% or just a rough idea over about 2 years
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Rob H
Member
Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
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www.moneysupermarket.com
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lil_g
Member
Registered: 29th Oct 06
User status: Offline
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try northern rock  think it was 6.4% mate
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Mather.16v
Member
Registered: 1st Nov 04
Location: Stockport
User status: Offline
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depends alot on your credit rating, circumstances and how well you manage your money i think
recently my older brother got an intrest rate of something like 20% and i got offered 9.2%
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Ally
Member
Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
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Dont get a loan, just dont
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dave17
Member
Registered: 3rd Sep 02
Location: Greater London
User status: Offline
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how else is he going to get the money then? you could say 'save' but that could take years, what if he needs it now?
Im sure if hes looking at getting a loan, he can pay it back.......
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RyanSxi
Member
Registered: 26th Jul 06
User status: Offline
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quote:
Originally posted by Ally
Dont get a loan, just dont
agree with ally
loan + credit cards + store cards etc = downwards spiral 
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SAL
Premium Member
Registered: 19th Dec 05
Location: Radlett, Hertfordshire
User status: Offline
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it really not worth borrowing 3k is it ? you could save that if you worked hard for a while, then there is no interest...
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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Try with Nationwide. No matter your credit rating, you get the same, fixed rate. Your credit rating does depend on whether you get the loan in the first place though.
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dave17
Member
Registered: 3rd Sep 02
Location: Greater London
User status: Offline
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quote:
Originally posted by Stavs
it really not worth borrowing 3k is it ? you could save that if you worked hard for a while, then there is no interest...
So if he could only afford £200 a month, that would take him 15months to save up 
But he could have it NOW, and pay it over the next 15months, granted with interest, but not THAT much (£204 in total, £13.60 a month at 6.8% apr)
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Ally
Member
Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
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quote:
Originally posted by RyanSxi
quote:
Originally posted by Ally
Dont get a loan, just dont
agree with ally
loan + credit cards + store cards etc = downwards spiral
Yes although mine went Store card + buying a house + more on store card to get things for the house + loan = Debt
Thank god im nearly sorted now thou, and at least i learned when i was young, rather than being 30 with 10k debt or somthing!!!
Dont do it!
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RyanSxi
Member
Registered: 26th Jul 06
User status: Offline
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i started when i was about 18 i think, im not 20 in about 10k worth of debt. although i do have a car etc so have something to show for it.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Its a slippery slope.
Budget for 10 and look happy if you can get 8. £3k is a bit low to be given the best rate.
Alternatively don't do it. Thats my advice.
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SAL
Premium Member
Registered: 19th Dec 05
Location: Radlett, Hertfordshire
User status: Offline
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quote:
Originally posted by dave17
quote:
Originally posted by Stavs
it really not worth borrowing 3k is it ? you could save that if you worked hard for a while, then there is no interest...
So if he could only afford £200 a month, that would take him 15months to save up
But he could have it NOW, and pay it over the next 15months, granted with interest, but not THAT much (£204 in total, £13.60 a month at 6.8% apr)
ok fare enough if you only have £200 each month than the loan seems like a good option if you only pay £ 204 in interest...
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Rob H
Member
Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
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quote:
Originally posted by Ally
quote:
Originally posted by RyanSxi
agree with ally
loan + credit cards + store cards etc = downwards spiral
Yes although mine went Store card + buying a house + more on store card to get things for the house + loan = Debt
Thank god im nearly sorted now thou, and at least i learned when i was young, rather than being 30 with 10k debt or somthing!!!
Dont do it!
IMO getting a loan is totally different to getting a storecard, or paying off a credit card. The interest gained by a loan is nothing compared to how much you usually pay on the other two, and with the other two there is a temptation to only pay the minimum payement, and if you do that and don't pay it off every month your a fool IMO.
Provided you can comfortably pay off the repayments of the loan each month, and you personally think that the extra you'll pay in interest is worth if for the time you would have had to wait to save the money, then go for it  .
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Most places only offer low rates if your taking a bigger loan typically over £5k
Smaller loans up to £5k are usually over 12% apr!!
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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I dont mind loans so long as you have a means to pay it back!!
Like im looking at getting a new car, ive got the funds im my account but do I really want to make myself pennyless while I have other things over & above a car to think about. Im thinking maybe half loan & half finance IF I can get a reasonable deal - just to keep a healthy bank balance.
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Ally
Member
Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
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I think you and Jade should get a Tandum col
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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Make sure you know you won't lose your job as well, otherwise you'll be fooked. Even with repayment protection, it only often covers you if you are made redundent or have an illness/accident that wasn't your fault. Get the sack, you'll still have to repay!
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