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Loan for an employed 19 year old
jamie-louise
Posts: 2 Newbie
in Loans
Hi,
I will be 20 on the 25th July and i am currently looking for a loan to purchase a car.
I would like to loan £2,500 but on checking websites the interest rate is either too high or I will not be cosidered because of my circumstances.
I have been in full time employment for the last year, earning a salary of £12,500 per annum.
I was looking for a loan for three years, with re-payments of around £100 per month, because of bills and rent, this is a realistic amount for me to re-pay.
I am currently in privately rented accomodation paying an inclusive rent (bills inc.) amount of £300.00 per month.
I currently own a car which I would sell and use the money from this to use as a deposit on a new vehicle.
Could you please advise me the best people to approach for a loan as i am reluctant to make a formal application as I know a refusal would leave a mark on my credit rating. I currently do not have any other credit/debts.
Many Thanks.
I will be 20 on the 25th July and i am currently looking for a loan to purchase a car.
I would like to loan £2,500 but on checking websites the interest rate is either too high or I will not be cosidered because of my circumstances.
I have been in full time employment for the last year, earning a salary of £12,500 per annum.
I was looking for a loan for three years, with re-payments of around £100 per month, because of bills and rent, this is a realistic amount for me to re-pay.
I am currently in privately rented accomodation paying an inclusive rent (bills inc.) amount of £300.00 per month.
I currently own a car which I would sell and use the money from this to use as a deposit on a new vehicle.
Could you please advise me the best people to approach for a loan as i am reluctant to make a formal application as I know a refusal would leave a mark on my credit rating. I currently do not have any other credit/debts.
Many Thanks.
0
Comments
-
Are you on income based job seekers? Try a budgetting loan from the social fund instead. You won't get a mainstream loan with no income.
- Apologies.. I read it as unemployed, clearly need more coffee.
What is your repayment history like on things like bank accounts, mobile phones etc?Total 'Failed Business' Debt £29,043
Que sera, sera.
0 -
My credit is good,
have a contract phone, that I pay on time.
No need for an over draft, never get over drawn,
Dont see why i am not elliagle...
HELP!!!0 -
Have you looked on your credit reports?Total 'Failed Business' Debt £29,043
Que sera, sera.
0 -
as you already have a car, wouldn't it be better to keep the existing car, save up whatever you can and then spend once you have saved.
no interest to be paid and no debt hanging over you for 3 years0 -
But he wants a new car to impress the girls, I think its either your lack of credit history or because you havent been in employment very long. A mobile contract doesnt count for very much in terms of credit, try applying for either a catalogue or a credit builder credit card then apply for a loan again in 6 months, also ask yourself whether you really want that sort of debt hanging over you at your age, a new car is nice but the novelty wears off very quickly0
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