Personal Loan advice

christopher_h

Hi all,

Am new to the forums but been on the emailing list a few weeks :xmassmile

I am employed, have a good credit score and would like to apply for a 25k personal loan to buy a new car.

Does anyone have any advice pls ?

For example, will someone call me from the prospective loan company and give me the third degree ?

Is it best to be seen to put some of the money up myself or do they not really care ?

I've read all the great advice about getting an unsecured loan with no early redemption charges, good interest rate etc. 'Northern Rock' comes up quite well after a lot of research.

Any advice greatly appreciated please.

Cheers.

Chris

asandwhen

I wouldnt choose Northern rock - they are not as good as they might first seem - they do charge early redemption fees and I think they also pre load the loan as aposed to charging interest daily - Cahoot flexible will allow you to pay off early with no fees also a few others - nationwide only offer loans at 1 rate and usually quite low - look into these before going with NR.

manicdays

what car are you buying for £25K?!

Cahoot have been the best with me so far. You could try with Looyds tsb, they do have a good rate atm. Although they won't lend to me!!!

Good luck!

tomstickland

There are some good rates to be had out there, but take a look at the total that you will be paying back over time, even on a good rate. The car will be worth less than what you borrowed in quick time.

johannamse

If you earn enough to be buying a 25k car, why dont you get say a 13k loan and get 12k on 0% credit card and pay the cc back quite quickly.