Loan

wingsgb

Hi,

Im 21 and iv been working since i was 16 bringing in over 1k each month. Iv had 2loans in past years and paid both off of them off early. I have no credit cards, overdrafts or any offer monthly bills apart from a £45 phone bill. My balance is always + at end off each month. Iv recently just had a pay rise so im looking to get a loan of 14k yet no one can help me cause off my credit? i dont get it? Iv not check what my credit is but ild imagine it to be.

thanks
gray

CHR15

A £14k loan for a 21 year old on a low salary??

Sorry bud, you have absolutely no chance at all.

Think nearer £6 or 7k at most.

Why do you need loans if you have no outgoings? What are you doing with all your money if you aren't saving anything??

What will you do if you do manage to get a loan but then want to move out? How will you pay anything (Rent, bills etc)

You need to forget the idea of the Blinged up Civic and buy a sensible car

WithLoveFromRussia

Please, listen me carefully, stop thinking about taking any credit if only you or anyone who is close to you is dying and you need money for an operation. You are 21 years old now, who earns more than 1k per month and who pays 45£ per month for phone bill. You do not realize that you are lucky enough to live happily and that it will take only 2 years to save 14k for yourself. Just 2 years which is 730 days. Just sit down, get a special notepad for yourself where you will write down all 730 dates from now till the final date when on your saving account you will accumulate 14k and start crossing out days each by each. In return you will get habit to save money, which is one of the useful habits nowadays and as well you will establish discipline to control your temptations. Or just ignore me and keep looking for your imaginary happiness.

telboyo

I agree with the previous poster, save , you don't need a loan. Listen to older people who have been down this road before- we did not listen to our parents- they knew nothing and we knew it all. When I was an Apprentice I had £50 per week to spend on my self after food and board had gone out and that was 30 years ago-
Since getting married and buying a house and car and having kids I don't think I have got that amount of pocket money now. I mean £50 not the £100 or so it would be worth now.
Don't spend 14K on a car you will be board with it in 6 months.
Try this for a size, calculate your monthly repayments add in the cost of insurance (very high for a 21 yr old) and about £200 per month for petrol.

Then try to live for a few months without that money and see how hard it is.

14 k loan at 8% for 4 years = 340
insurance (guessing here) = 80
petrol 200 yes you do need to spend that much on petrol otherwise there is no point in having a car.
total £620

Try putting this amount away each month and you will be left with only 380 to spend. If you can manage to do this with out buying a car you will have about 7.5 k in your pocket .

While you're at it get rid of the I-phone and get a cheaper tarif.