Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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I know loans have been discussed to death, but Im after a loan for 4k to finish off the amount I need for a new car.
I just applied with sainsburys online, I fit all the criteria, yet they denied me 
Im going to go to my bank (Halifax) tomorrow and talk with them, the only thing is they have quite high rates at the moment.
Im 19, full time employment (albeit only in my 4th month of work) and have moved house a couple of times in the past year. (these are the only things I can think of that could effect their decision).
Oh, and im not a homeowner.
Anyone else got a loan at my age? Who with and how much etc etc?
Cheers
Lotus Elise 111R
Impreza WRX STi
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Karen
Member
Registered: 9th Jul 03
Location: Edinburgh
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Might be coz u have no credit history or where u stay has been bad in the past so that will go against your name.
If u have credit maybe uv been late making repayments, so that is going against you
Thats about the main things they would decline you on
Your bank would be best bet for a loan as they would know your whole history with money coming into your account and if you could afford the repayments etc
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
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Have you had any credit in the past? Lack of history could be a factor. The short term in employment and house won't move won't help, but having no proper payment record is worse.
Northern Rock and Cahoot have best rates at the moment, around 5.7% but they will most likely quote you a bit higher than that in those circumstances.
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
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i didnt have any problem when i applied for mine and i have a very poor employment history
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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Northern rock were recomended but you need to be 21 according to their site.
I've never owned a credit card before so have never owed or made late payments etc etc.
Only financial commitments I have are direct debit for insurance and phone bill.
Lotus Elise 111R
Impreza WRX STi
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Nismo
Member
Registered: 12th Sep 02
User status: Offline
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try egg
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by Nismo
try egg
Just have done mate, expecting a response within 24 hours 
Cheers.
Lotus Elise 111R
Impreza WRX STi
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M333KS D
Member
Registered: 15th Mar 04
User status: Offline
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to be honest mate, i really struggled with geting one, i have had top cridit history for about 3-4 years now, never missed a payment, bla bla, on a big annual income, the only thing that i could see letting me own was not being a home owner, its just a bastard mate!!!
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by M333KS D
to be honest mate, i really struggled with geting one, i have had top cridit history for about 3-4 years now, never missed a payment, bla bla, on a big annual income, the only thing that i could see letting me own was not being a home owner, its just a bastard mate!!!
Aye its looking that way to me. They know how much im earning and can easily afford 4k over 2 years, theyre just being awkward.
Well someone better approve me or ill have to resort to robbing the fuckers 
Lotus Elise 111R
Impreza WRX STi
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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why havent you looked at an unsecured personal loan, im not a homeowner and i got a loan using one of them
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dannycorsa c
Member
Registered: 8th Mar 03
Location: manchester (astley/tyldesley)
User status: Offline
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go on the autotrader site they search throught 400 loan companys for you
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by robmarriott
why havent you looked at an unsecured personal loan, im not a homeowner and i got a loan using one of them
tbh im not educated in all the different types of loan. Whats unsecured as opposed to secured?
Autotrader site sounds like a plan. Cheers
Lotus Elise 111R
Impreza WRX STi
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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unsecured means the debt isnt secured against a house
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TNM
Member
Registered: 5th Apr 04
Location: Nottingham Drives: VW Tiguan
User status: Offline
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get a credit card! Seriously get a credit card even if you never use it! It will help!
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by TNM
get a credit card! Seriously get a credit card even if you never use it! It will help!
So.. if I get a credit card, they will think that I can handle owing money or something?
Lotus Elise 111R
Impreza WRX STi
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by robmarriott
unsecured means the debt isnt secured against a house
ahh ok, will look out for this option.
ta.
Lotus Elise 111R
Impreza WRX STi
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TNM
Member
Registered: 5th Apr 04
Location: Nottingham Drives: VW Tiguan
User status: Offline
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quote:
Originally posted by Kyle T
quote:
Originally posted by TNM
get a credit card! Seriously get a credit card even if you never use it! It will help!
So.. if I get a credit card, they will think that I can handle owing money or something?
just looks better on your credit history. Just dont get it and then mis payments if you use it!
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Karen
Member
Registered: 9th Jul 03
Location: Edinburgh
User status: Offline
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quote:
Originally posted by Kyle T
So.. if I get a credit card, they will think that I can handle owing money or something?
Yeah maybe put like £100 a month on it and clear it every month then they will see u as reliable and make your payments on time
[Edited on 02-01-2006 by Ian]
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vibrio
Banned
Registered: 28th Feb 01
Location: POAH
User status: Offline
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I'd personally not get a loan
[Edited on 02-01-2006 by Ian]
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M333KS D
Member
Registered: 15th Mar 04
User status: Offline
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figures
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by vibrio
I'd personally not get a loan
But I dont want to drive a shitty run about forever. I want to get a nice solid car thats gonna last.
Fair enuf I could save up, but its too late for that, ive just sold my Corsa 
[Edited on 02-01-2006 by Ian]
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Impreza WRX STi
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cunningham
Member
Registered: 25th May 05
Location: Lochore, Fife
User status: Offline
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got a 3k loan for ma corsa car was only 1900 so blew 1100 on mods lol and other stuff
your best bet is your own bank as said before they no your history best
ps i was 19 at the time of the loan
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by cunningham
got a 3k loan for ma corsa car was only 1900 so blew 1100 on mods lol and other stuff
your best bet is your own bank as said before they no your history best
ps i was 19 at the time of the loan
Good to hear
Cheers
Lotus Elise 111R
Impreza WRX STi
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Paul H
Member
Registered: 11th Aug 03
Location: Lincoln.
User status: Offline
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tbh why not just get finance on the car you want.will be damn site cheaper than any loan you can get.
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by chewy
tbh why not just get finance on the car you want.will be damn site cheaper than any loan you can get.
Im not clued up on finance. Im buying it private, can I still get a finance deal from somewhere?
I assumed finance was just a loan offered by a dealership.
Lotus Elise 111R
Impreza WRX STi
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