10k wanted 7k outstanding

Pete.g

Hi there,

I'm wondering which is the best way for me to go to get 10k to spend on a new car.

This is my situation:

I have a 7k loan outstanding
I have 5k saved
And I am wanting 10k to spend with one monthly payment, i'm not wanting more than one loan going out a month.

The 7k outstanding is with Alliance and Leicester, and i'm paying around £220 a month back. I would like to keep the repayments similar.

Anyone have any suggestions as to what would be the best thing for me to do in order to have 10k to spend?

Thanks,

Pete.

Robert_Sterling_3

Perhaps the best thing would be to save another 5K.

Pete.g

LOL now why didnt I think of that. Not practical at we have just moved house and I have lots to do so no spare money.

Pete.

MsChievousness

You could try speaking to Alliance and Leicester. Perhaps they could loan you the extra £5K and extend the length of your loan at the same time?

YorkshireBoy

MsChievousness wrote:

You could try speaking to Alliance and Leicester. Perhaps they could loan you the extra £5K and extend the length of your loan at the same time?

That's not very "money-saving" is it MsChievousness? Bearing in mind that the additional funds are to be spent on a depreciating asset.

MsChievousness

Probably not, YorkshireBoy, but it is one way of getting the extra £5K. It depends how quickly the money is wanted and whether they can wait to save another £5K (which is a great amount to have saved up!).