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car purchase
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hoodleydoodley
Posts: 8 Forumite
in Loans
Hi I'm looking to part exchange my car for a newer one. I'd need around an extra £5500 to pay for the car. My partner has an existing loan with hsbc and has just under £7000 left to pay. Would it be advisable for him to redo his loan to purchase the car or would it be better for me to take one out?
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Comments
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On the face of it, is there a reason why you wouldn't want to take a loan out.
I don't understand why would you want him to "redo" his loan to pay for your car ?Space available for rent0 -
Well obviously we both use the car, more me but rather than have two seperate loans would it be better for him to loan an extra £5500 ontop of what he owes? That's what I meant!0
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hoodleydoodley wrote: »Well obviously we both use the car, more me but rather than have two seperate loans would it be better for him to loan an extra £5500 ontop of what he owes? That's what I meant!
It may be better for you but I can't see any advantages for him,all other things being equal.Space available for rent0 -
its dependant on his income to debt ratio at the end of the day.0
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