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    • Killacam
    • By Killacam 11th Mar 17, 12:46 AM
    • 8Posts
    • 1Thanks
    Killacam
    Help with Personal Loan
    • #1
    • 11th Mar 17, 12:46 AM
    Help with Personal Loan 11th Mar 17 at 12:46 AM
    Im 22 years old and have a relatively good credit history, not had a late payment in around a year our two. I am getting my first car and need a loan of around 6-7 thousand pounds.

    I applied to sainsburys and got a shock when I was declined.

    I have looked at my credit file and I'm down 165 points, due to too many applications and checks from comparison websites, there is so many checks on my file

    I recently got a few items on finance, which I can comfortably pay back.

    I now am facing a dilemma, as I want to apply to Tesco as they have a higher acceptance rate but I'm just a bit worried, my history is pretty clean but just unsure of where to go from here, any help is appreciated!!
Page 2
    • dresdendave
    • By dresdendave 12th Mar 17, 10:59 AM
    • 582 Posts
    • 635 Thanks
    dresdendave
    The truth is, comments like this actually do help. I appreciate the time taken to write that reply. What do you recommend for me to do? Tesco are apparently a lot easier to get, would you recommend me to apply for that? or not? and just bite the bullet and borrow from family.
    Originally posted by Killacam

    Virtually every reply has recommended what you should do. Save up for a few months and buy a cheaper car. Many of those replies were probably from people who had your mind set when they were your age and are now wishing they had acted differently.


    It would appear you have no intention of listening to the advice given. But we don't hold grudges, feel free to return for advice in the future when you have a "change in circumstances" and can't afford repayments on the various loans, CC debts you have built up.
    • Ilona
    • By Ilona 12th Mar 17, 12:11 PM
    • 1,775 Posts
    • 6,265 Thanks
    Ilona
    What do you recommend for me to do? Tesco are apparently a lot easier to get, would you recommend me to apply for that? or not? and just bite the bullet and borrow from family.
    Originally posted by Killacam
    I would recommend that you don't borrow any more money. You seem to think that you can have whatever you want, buy now pay later. The truth is that you are living beyond your means, spending more than you earn, it can only lead to disaster.

    Sell everything that you frittered money away on, and start saving now. Look how you can cut down your day to day living expenses, no buying lunches out, no pubbing and clubbing for a few months. No buying new clothes, no buying anything until you have saved enough for a car.

    Ilona
    I love skip diving
    • Vikipollard
    • By Vikipollard 12th Mar 17, 12:38 PM
    • 618 Posts
    • 1,081 Thanks
    Vikipollard
    The truth is, comments like this actually do help. I appreciate the time taken to write that reply. What do you recommend for me to do? Tesco are apparently a lot easier to get, would you recommend me to apply for that? or not? and just bite the bullet and borrow from family.
    Originally posted by Killacam
    You just aren't listening, are you? The overwhelming recommendation is that you SAVE UP and buy the car. Not borrow from a bank, or stiff your family.

    By your own admission, you have no disposable income as you fritter it all away on tat.

    You didn't answer the question on how you plan to pay for the car insurance you will need - potentially at 200-300 per month at your age, if you haven't had a car before to build some no claims.
    LBM July 2006. Debt free 01 Sept 12 ..
    Finally joined Slimming World: weight loss 33lbs...target achieved 51wks later 06.05.13 & still there
    Aim to be mortgage free in 2022. Jan 17 33250, Apr 17 30863
    • jonesMUFCforever
    • By jonesMUFCforever 12th Mar 17, 1:00 PM
    • 23,746 Posts
    • 10,974 Thanks
    jonesMUFCforever
    I can't add anything other than Vicky has posted but will say the more applications you make the more desperate you will look to any potential lender and they will risk you appropriately ( either decline you or a very high APR ).

    If you decide to reply to this post please answer the question we all want to know - HOW WILL YOU AFFORD THE LOAN REPAYMENT AND CAR INSURANCE IF YOU HAVE NO FUNDS AVAILABLE EACH MONTH!

    Sorry for shouting but I fear you are hard of hearing.
    What goes around - comes around
    give lots and you will always receive lots
    • ReadingTim
    • By ReadingTim 13th Mar 17, 12:16 PM
    • 1,583 Posts
    • 2,253 Thanks
    ReadingTim
    What do you recommend for me to do?
    Originally posted by Killacam
    Decide what you want more:

    clothes and stuff ("lol")

    or

    a car

    then save up your money and buy it.
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