The Sub Prime Credit Thread - Part IV

seeya23

uk border force are a joke they took my mate car to bits looking for god know.s what .
we only had 60 packs of tabacco each

Zack1

seeya23 wrote: »

uk border force are a joke they took my mate car to bits looking for god know.s what .
we only had 60 packs of tabacco each

:eek: That's crazy!

I got funny looks coming back from Spain, I got vodka for myself, then I went back and got another bottle for uni, then I went back and got another bottle for uni (:p) then I went back and got some for a friend for her birthday! (The joys of waiting for ages!). They were taking the flight confirmation thing from me each time and scanning it, so were giving me really funny looks after the 2nd visit :rotfl:

ElkyElky

I have a confession.

I applied for a loan even though I'm SOS.

I tried £1000 from NatWest. I only wanted 1 grand because the monthly repayments were suitable. They accepted me!!! That's my car insurance sorted for the year. :D


We are delighted to inform you that your application for a Loan has been agreed, subject to your paperwork being in order. It will be valid for the next 28 days.

Zack1

ElkyElky wrote: »

I have a confession.

I applied for a loan even though I'm SOS.

I tried £1000 from NatWest. I only wanted 1 grand because the monthly repayments were suitable. They accepted me!!!


We are delighted to inform you that your application for a Loan has been agreed, subject to your paperwork being in order. It will be valid for the next 28 days.

You're SOS?

What's Natwest's interest rate? It can't be as high as some of those cards? That's got to be a good thing?

ElkyElky

Zack1 wrote: »

You're SOS?

What's Natwest's interest rate? It can't be as high as some of those cards? That's got to be a good thing?

I joined the SOS club - made a promise to myself I wouldn't apply for anything else for 6 months.

21% - slightly high BUT I didn't think I'd ever be accepted for a loan as a student.

The repayments are only £35 a month. If I had used my credit card for my car insurance, the repayments would be a lot more and I may not be able to afford it during the summer holidays when SLC isn't paying me.

seeya23

ElkyElky wrote: »

I have a confession.

I applied for a loan even though I'm SOS.

I tried £1000 from NatWest. I only wanted 1 grand because the monthly repayments were suitable. They accepted me!!! That's my car insurance sorted for the year. :D


We are delighted to inform you that your application for a Loan has been agreed, subject to your paperwork being in order. It will be valid for the next 28 days.

well done mate

izools

Hang on a min...

If you've borrowed a grand at £35 a month, that's got to be over three years??

But your insurance for your car will only be for a year?

So how are you going to be able to afford it next year on top of loan repayments if you can't afford it this year without them!?!?!

Mate... right to cancel, I think it's a good idea. Atleast you know Natwest trust you! Hopefully that's enough?

Zack1

ElkyElky wrote: »

I joined the SOS club - made a promise to myself I wouldn't apply for anything else for 6 months.

21% - slightly high BUT I didn't think I'd ever be accepted for a loan as a student.

The repayments are only £35 a month. If I had used my credit card for my car insurance, the repayments would be a lot more and I may not be able to afford it during the summer holidays when SLC isn't paying me.

Oooh you've done it because you need it, I thought you did it just to see and now you've got one you won't need! How many months is the loan for? That seems pretty good repayments, yea in the summer I'm going to have a bit of a shock I think, or if SLC decide they don't fancy giving me my 3rd installment (at the moment I'm unsuspended, but I can't see that lasting until after Easter!)

At least the loan will build your history both with them and on your credit report . I would try applying but they hate me!

ElkyElky

seeya23 wrote: »

well done mate

Thanks. :beer: I think having my savings with NatWest helped.

I don't use my NatWest current account much and only £330 gets paid in to it each month, and have no direct debits with them.

ElkyElky

izools wrote: »

Hang on a min...

If you've borrowed a grand at £35 a month, that's got to be over three years??

But your insurance for your car will only be for a year?

So how are you going to be able to afford it next year on top of loan repayments if you can't afford it this year without them!?!?!

Mate... right to cancel, I think it's a good idea. Atleast you know Natwest trust you! Hopefully that's enough?

The insurance is going to be atleast £1.5k. Next years insurance will be halved, and I'll have my no claims (hopefully).

Insurance is always expensive for first time drivers. Paying for the insurance next year wouldn't be a problem, I just needed a loan to get me through the first year hurdle.

Now that I don't need to save each month towards my insurance fund, I can throw all of my available money each month to the cards, so they'll be paid off in a few month. I'll be settling that loan way before the 3 years is up.