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Loan or savings to buy car
Hello all, Looking to purchase a new car but don’t know whether to use savings or get a loan. The money is currently in a Santander 123 account which I believe is paying 2% interest. The car/loan amount is £25k. I can get a loan with Nationwide or Santander at 5.9%. I am of the thinking that paying cash would be better…
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Requested A CCA this was my reply, help
We do apologise for the previous communication that may have caused confusion, kindly treat this as a follow up email. The original creditor has sold this debt to us on 2022/06/30, and it is within their legal right to pass this debt to a recovery agency as per your contractual agreement. As per the terms and conditions of…
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Paying off a longer term loan early
Hi, This seems too easy and probably wont work but would love to hear some advice. I'm looking to take out a personal loan with the bank and ideally would like it over 5yrs but my budget is £380p/m £21k over 5yrs is £417, rate is 7.4% fixed. £21k over 8yrs is £288, same rate 7.4% Is there a way of working out how much I'd…
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I need a very short term loan
Hi I need a £1500 very short term loan
to cover some DDs going through on Saturday. £900 is going in
tomorrow and £400 on Monday, which is too late. I have several items
for sale on eBay, amounting to £2000-£3000. A £1500 item has
almost sold. I hope to pay down the loan next week. I have no credit
cards and nearly at…
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Advice for credit agreement complaint
Hello All, I'm looking for a bit of advice, perhaps from someone who may have had a similar experience to me, or someone in the know. I have an account with a financial provider, well known, limited company, all above board etc. and Allows me to purchase products and pay monthly over a set period of months, I have used…
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Car Finance - New or Old?
Hi Everyone, I need a new/new to me car. Looking around at the offers and getting a bit confused. Here are my options: Option 1 Buy New 60k Vehicle purchase price / 10k miles per annum 0% interest on PCP £13k downpayment £500 per month Option 2 Buy Second Hand 55k Vehicle purchase price / 10k miles per annum ~10% interest…
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Barclays First Plus Loans interest rates
After 10+ years of campaigning against Barclays FP loan clause fairness the FOS has done a complete U turn and there is now a willingness to find in favour of complainants and for the above to negotiate settlement terms for customers who complained over the interest clause. I have contacted the FOS asking them to review…
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Klarna not taking payment after 13 months!
Having an issue with a finance agreement with Klarna. In short I purchased a Canyon bike on a a finance agreement with klarna. The first payment post was taken successfully one month after purchase (1st of August 2024, following purchase on 1 July 2024). However since this date no further payment has been taken. It still…
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Negative equity converted to a loan
Hi, I'm new to MSE but was hoping for some advice/guidance. A number of years ago, I split from my wife and subsequently divorced. We owned a home together with first and second charge mortgages secured against the property. The timing was poor and the combined debt was around £30k above the sales value of the house, so…
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Quid market loans affordability complaint
Hi, I had taken 7 loans out with quid market over a 3 year time frame. The first one was 2020 so within a 6 year time frame. i believe these loans were unaffordable for me and i was on a low wage and already taking out other payday loans ( I was unfortunately by myself with a young child) and got caught in a cycle. i have…
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Letter received from Klarna Final Notice - I've never even used Klarna!
Dont know if this is right place to post mods please move if not! Received a letter stating theyve unsuccessfully tried to contact me regards to an unpaid purchase made in March this year for £124 on pay later credit agreement. Ive made no such purchase and never ever dealt with Klarna, or the merchant (DHGate) before.…
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PCP - Is this the right way to use this overpayment calculator on MSE
£22600, 9% APR, 4 Years, £390 Payment, £9688 GMFV Zopa allow overpayments, anytime, and recalculate monthly every time, and I have checked, if I continued, at some point, it eats into the GMFV. https://www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator/ When I have inputed the figures and just kept a £250…
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Updraft/ ACI predicament
I had two loans with UPDRAFT one for 20k and one for 8k. I wanted to default on all my credit cards and loans which I decided to do last year. I did receive a default notice from updraft (around May 2024) for both my loans and I had assumed the defaults had been recorded when I started to get letters from ACI. I started to…
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Loaning Money
Hi, I've just sold my house and need to distribute money in several places. I was wondering could I send my children £85k each to hold for a short while until my new house sell goes through...2 months time? I totally trust my children but don't want their to be any implications for them. many thanks
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Help! Unaffordable loan advice
Hello! does anyone have any thoughts on whether my loan should have been approved…. I took out a loan to consolidate some of my debt £25,000 back in September last year with repayments of £711 pm I already had £32,000 worth of debt over other loans and credit cards….( not including my car HP) My income at the time was…
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PCP and car already worth less than final payment
A couple of years ago I decided to get an EV on PCP, this being the first time I've ever bought a brand new car. Even though there's about 15 months left on the agreement, already the car value (according to autotrader) is about £5k *less* than the final PCP payment due at the end. Obviously I can just keep paying my…
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Why Can't I Refinance My HSBC Loan at a Lower Rate?
Hello, I'm hoping to get some advice on my personal loan situation as I'm a bit stumped, especially considering my financial stability. My main goal is to decrease the annual interest rate on my current personal loan. Here's my situation: * Citizenship & Residence: Dual EU/British citizen, living in the UK since March…
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Car HP confusion
If I take a dealer's car HP agreement (with a third party lender) there's a 14 day cooling off period. Online guidance is that cancelling the agreement means I have to return the car to the dealer. Question 1 - can I cancel the agreement, pay the lender in full and keep the car? If I don't cancel the agreement but make an…
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Council bankruptcies and debt
I'm trying to find out some information about what happens when a council is dissolved and a new authority is created and what happens to the debt. So, for example, when a member of the public has a debt with the old council i.e council tax, parking fine, care package - whatever really, what happens to that debt? How much…
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Pay off Hire Purchase Early
I have been told that if I pay off hire purchase of £30000 (£29500) and leave a balance of £500 within 2 weeks of starting the hire purchase agreement that this will prevent early termination fees and that the last payment of £500 (will be technically the first) will end the agreement Is this correct?
