Kurt
Member
Registered: 23rd Oct 05
Location: Hi
User status: Offline
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how do they work? i know the basics i borrow so much and pay so much back a month + x% but do they have to be secured on anything?
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richardworrall
Premium Member
Registered: 20th Sep 05
Location: Derby
User status: Offline
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not for small amounts no
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Seany
Member
Registered: 13th Dec 06
Location: Dunfermline, Fife : Drives Astra cdti Sri
User status: Offline
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as long as you have a stable job i think it would be fine got one for a grand an they never mentioned anything lke that to me, they will tell you when you go to the bank though im sure
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Kurt
Member
Registered: 23rd Oct 05
Location: Hi
User status: Offline
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is it worth borrowing more than you need aswell? im looking at 3000k over 3 years for a new corsa and to cover the deposit on the insurance and ill have some spare aswell but ill end up paying back around 4200
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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don't do it.
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Kurt
Member
Registered: 23rd Oct 05
Location: Hi
User status: Offline
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but i need a new car, i cant keep driving mine, and its not worth fixing
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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Get an overdraft, and fix it.
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Kurt
Member
Registered: 23rd Oct 05
Location: Hi
User status: Offline
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i cant see the point in fixing a 100 pound corsa though
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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You've spent over £2K on it... thats the point right there 
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Kurt
Member
Registered: 23rd Oct 05
Location: Hi
User status: Offline
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yes but everything ive spent i can remove and keep or sell
its also only a 1.2 and im not earning any ncb...
[Edited on 22-08-2007 by Kurt]
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
User status: Offline
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if youve never had a loan before or credit card you'l find it quite hard to get a loan surprisingly
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Kurt
Member
Registered: 23rd Oct 05
Location: Hi
User status: Offline
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crap..
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
User status: Offline
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how old are you? being 23+ works greatly in your favour
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Kurt
Member
Registered: 23rd Oct 05
Location: Hi
User status: Offline
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im only 20, still at home with the parents but had regular income for about 2 years now
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Seany
Member
Registered: 13th Dec 06
Location: Dunfermline, Fife : Drives Astra cdti Sri
User status: Offline
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i was 20 when i got mine but my own bank wouldnt give me one so i switched to someone that would,abbey is where i got mine but the interest is high i payed back 1700 on a 1000 pound loan
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Kurt
Member
Registered: 23rd Oct 05
Location: Hi
User status: Offline
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im with natwest aswell, have been for about 10 years
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Seany
Member
Registered: 13th Dec 06
Location: Dunfermline, Fife : Drives Astra cdti Sri
User status: Offline
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i cant see you having any problems other than as steve saidtrying to find a bank that will give you the loan without ever having one before the rest is easy (exept paying the bloody thing back )
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mav
Member
Registered: 19th Jun 01
Location: Scotland
User status: Offline
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Speak to your bank, if you have regulary income and bank can see that shouldn't be a problem....Loans are fine as long as you can easy meet the repayments.........
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foxyk8t
Member
Registered: 8th Jun 07
Location: Truro - Cornwall
User status: Offline
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If you can avoid a loans do it they rape you with all the money you pay back over the years definiely look into it before you commit
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Tim
Site Administrator
Registered: 21st Apr 00
User status: Offline
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Borrow 3k and pay back 4.2k? Where's that? -- the Bank of Daylight Robbery?
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hack3tt
Member
Registered: 4th Jan 06
Location: Coventry
User status: Offline
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quote:
Originally posted by Kurt
im with natwest aswell, have been for about 10 years
I got a loan when i was 19 and only earning 8k pa with Natwest.
only for £1500 buti hadnt had any previous loans etc and was no problem!
Had the money within a week!!
But as above, dont do it if you can manage without!!
Worst thing i ever did and once you have one, it only grows!!
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Dione J
Member
Registered: 22nd Sep 04
Location: West Midlands Drives: Leon Cupra Turbo
User status: Offline
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Only loan you should have in life is your mortgage TBH.
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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 Dione J
Only loan you should have in life is your mortgage TBH.
not really, how would you get IE £8000 for a car ? loan or personal finance to most people, even ritch people have PF on their cars
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
User status: Offline
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quote:
Originally posted by mav
Speak to your bank, if you have regulary income and bank can see that shouldn't be a problem....Loans are fine as long as you can easy meet the repayments.........
if yuo have no credit history its quite easy to be refused even with the above you say
even worse if you have zero direct debits coming out your account
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
User status: Offline
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only reason I got a credit card was to pay my petrol off and build credit history
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