Don't want the money immediately

thismustbeme

YorkshireBoy wrote: »

How will you "save" money?

If you start to repay one month early your final payment will be one month early too won't it?

Therefore the cost to you is the loss of a months savings account interest now...which will then be recovered at the end of the loan period.

Unless I'm missing something very obvious?

But to answer your original question, why not ring a couple of loan providers up and ask them the question on deferment/agreement in principle (with a guarantee!).

I'll save money as I'm currently paying company car tax for the current car until the end of the month and will also not get the allowance until it goes back.

So I'll end up paying for the loan AND the car tax without the allowance for the period they overlap, for which I want to reduce to a minimum.

I'll ring a couple of loan providers to find out how flexible they are as you suggest. Just thought it was worth asking the question.

Apples2

You don't seem to be factoring in a loan rejection.
Plenty before you with excellent files have been rejected.

It's a big assumption this will be a walk in the park

Apply early just in case of hiccups and take the early first payment it gives you a chance to iron out any problems.

CLAPTON

thismustbeme wrote: »

I'll save money as I'm currently paying company car tax for the current car until the end of the month and will also not get the allowance until it goes back.

So I'll end up paying for the loan AND the car tax without the allowance for the period they overlap, for which I want to reduce to a minimum.

I'll ring a couple of loan providers to find out how flexible they are as you suggest. Just thought it was worth asking the question.

the only factor here is a cash flow issue

the cost of the loan are the same if you borrow today or defer until a month or so time

we are not talking large sums here are we?... a few hundred pounds for a month or so

you will probably continue paying 'cartax' until you contact HMRC and tell them you no longer have the car and they update your tax code; that may take some time

thismustbeme

Apples2 wrote: »

You don't seem to be factoring in a loan rejection.
Plenty before you with excellent files have been rejected.

It's a big assumption this will be a walk in the park

Apply early just in case of hiccups and take the early first payment it gives you a chance to iron out any problems.

Valid point and one that does concern me. I'm guessing there's no way of knowing the likelihood of being accepted and getting a good rate from any company?

I'm tempted to try M&S as until recently I had credit card with them, so some history. I closed it to reduce the available credit I had which was way too high through opening cards every few years as new offers came out.

I think I'll try my luck and hope for the best, but not leave it too late to avoid any last minute panics!

thismustbeme

CLAPTON wrote: »

the only factor here is a cash flow issue

the cost of the loan are the same if you borrow today or defer until a month or so time

we are not talking large sums here are we?... a few hundred pounds for a month or so

you will probably continue paying 'cartax' until you contact HMRC and tell them you no longer have the car and they update your tax code; that may take some time

Yes largely a cash flow issue as I know I'll pay the same for the new car whatever. Looking hopeful that I can return the company car early without penalty, so if that works then problem solved.

chanz4

halifax give 2 months break at the start, well think they still do

thismustbeme

OK, good news. Applied for a loan today with m&s and it was approved immediately with no issues at 6%.

M&S were very helpful and suggested I simply don't return the paperwork until a couple of days before I needed the money. Apparently the money will be transfered within 2 days of them receiving the signed paperwork.

bambus

hi guys,

wonder if there is any help for me. stupidly i went in to debts my ex boyfriend and i had to go on debt management program. i was able to pay my loan, my credit card and overdraft but wanted to put everything under one go. now i need at least £7000 to put forward to our wedding. My fiance has just taken out his mortgage and we do not want join account as it will affect his credit. we managed so save up at least £5000 but another £7000 is needed.
Is there any company who can help me? i heard everyday loan will be able to help... i can only have unsecured loan.I will be able to pay as my debt manage is only £130/month. please please please any advise? i jut asked for my credit report to see why i have bad credit?! i might miss couple of bills, meaning paid 2-3 days late....but i need to get this money to be able to have our wedding.
thanks for your help.

Apples2

bambus wrote: »

hi guys,

wonder if there is any help for me. stupidly i went in to debts my ex boyfriend and i had to go on debt management program. i was able to pay my loan, my credit card and overdraft but wanted to put everything under one go. now i need at least £7000 to put forward to our wedding. My fiance has just taken out his mortgage and we do not want join account as it will affect his credit. we managed so save up at least £5000 but another £7000 is needed.
Is there any company who can help me? i heard everyday loan will be able to help... i can only have unsecured loan.I will be able to pay as my debt manage is only £130/month. please please please any advise? i jut asked for my credit report to see why i have bad credit?! i might miss couple of bills, meaning paid 2-3 days late....but i need to get this money to be able to have our wedding.
thanks for your help.

Same answer no matter how many times you ask it...

1. You're on a DMP = You aren't getting credit from anyone, for any amount.

2. You're on a DMP - But you have saved £5k = Well done for completely abusing the facility there to help people in debt. :T

bambus

thanks. that's all i need to know!