We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help with Loan Please
dacdesigns
Posts: 136 Forumite
in Loans
Hi all,
New member here with a quick question for anyone in the know about loans.
I am going to apply for a loan that I need and could do with £12,000 in total but am unsure if I will get this amount, the problem is I defo need half that amount but could do with it all to pay my car finance off and save some money on interest along the way. I have been told at the bank that it tells them on there screen that I will have no problems getting £7,000 but the chap also tells me that it doesn't matter that much about the amount and that if I get knocked back for the £12,000 I would have got the same for a £3,000 loan. Can this be true? I don't want to risk not getting the £5,000 that I need but would like to save the extra from my car getting the larger sum.
Any help would be great
Kind Regards,
New member here with a quick question for anyone in the know about loans.
I am going to apply for a loan that I need and could do with £12,000 in total but am unsure if I will get this amount, the problem is I defo need half that amount but could do with it all to pay my car finance off and save some money on interest along the way. I have been told at the bank that it tells them on there screen that I will have no problems getting £7,000 but the chap also tells me that it doesn't matter that much about the amount and that if I get knocked back for the £12,000 I would have got the same for a £3,000 loan. Can this be true? I don't want to risk not getting the £5,000 that I need but would like to save the extra from my car getting the larger sum.
Any help would be great
Kind Regards,
0
Comments
-
He seems to be talking about a decision in "principle",as far as paying off the car with a new loan,thats never the best idea if it can be avoided unless there is a big difference in the aprs.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards