Best Time for Loan

such

I'm in the process of getting a loan for a car. Dont need the money till mid to late January, so the question is; Would i get better rates if i wait till January or is now the best time?

jonesMUFCforever

If your credit rating is good it should make no difference.
Most applications can be put on hold for 30 days from being accepted to the funds being drawn down.

such

jonesMUFCforever wrote: »

If your credit rating is good it should make no difference.
Most applications can be put on hold for 30 days from being accepted to the funds being drawn down.

Thanks, credit rating is good, just wondered if the rates were likely to shift down between now and when i need it?

hounslow_boy

such wrote: »

Thanks, credit rating is good, just wondered if the rates were likely to shift down between now and when i need it?

-very difficult to say what BoE base rates and retail lender rates will do in such a short time frame. I would guess barring any financial earthquakes between now and then they'll stay the same. Although as you may be aware BoE base rate and lender loan rates are wildly disconnected. Lenders know credit's hard to get now, so they're happy to keep jacking rates higher.

Best time for a loan? - in the present climate of increasing financial and job insecurity, NOT NOW.

[Deleted User]

go for a fixed rate loan as rates will drift upwards in 2011 onwards as inflation proves hard to shift.