Personal Loan Advice

joeyd75

Thanks - I will have a nosey at both black horse and pcp options

That's exactly what my employers are doing with me. I would have preferred to buy a second hand (say year or two old) car via a loan, and I would also try to keep the payments less than my allowance but it's not looking too great at the minute.
An extra grand or too tagged onto it would have been great with our wedding coming up, but hey, ho....

I'll keep trying!

jonjamie1970

My advice, get a car for half what you were thinking, you dont need to travel around much anymore, get something for £5k and then save the balance each month towards your wedding, no point in getting into more debt for either of these factors. Do your firm stipulate what car, EG: 4 door, less than 3 years old etc ?

lawrie28

Get a cheaper car and be quids in? A used focus for £5k or thereabouts is more realistic and amply affordable on the salary increase. Then you have even more money for the wedding. All a £15k car (or thereabouts) is gonna do is depreciate, get a cheaper car, less depreciation.

Have you tried a joint loan application? Your fiances income may well help your cause if that is what you are desperate to do.

joeyd75

My company stipluate that I should have a car which is less than 3 years old and must be suitable for my role (Commercial Manager) to visit clients, ferry them around etc
I currently have a Mercedes CLC, which the lease costs approx £400/month
Really, if I got a cheaper car I would feel a bit cheeky taking the full payrise and keeping some myself
They have worked out a price based on taking a similar car on personal lease, but they are happy for me to purchase one instead of leasing

We've seen some cars around the £11k - £13k bracket (newish golf etc) which we thought would be a good option

I'm not sure if getting a cheaper car would be frowned upon, but I will raise the subject

joeyd75

I didn't think about a joint application, this could be an option also

I'm just really worried about applying for anything else with one refusal already under my belt.
Is it likely that I/we will be refused again with another company or are some more lenient than others?

If so, does anybody know of a more lenient company? I know somebody previously posted about black horse but it seems they no longer offer personal loan products

BugsyBrowne

joeyd75 wrote: »

I didn't think about a joint application, this could be an option also

I'm just really worried about applying for anything else with one refusal already under my belt.
Is it likely that I/we will be refused again with another company or are some more lenient than others?

If so, does anybody know of a more lenient company? I know somebody previously posted about black horse but it seems they no longer offer personal loan products

If your own bank turn you down its less likely anyone else will give you a loan, remember your late payment is going to be flagged up straight away as soon as you send your application through.

jonjamie1970

I was thinking more of going to a dealer and getting a quote on finance against the vehicle which you are more likely to get than a personal loan. Black Horse specialise in vehicle finance.

joeyd75

ahh! silly me

it's probably the best option then

I'll visit a few showrooms and see what can be done that way