Loan for unemployed

Voyager2002

DP87 wrote: »

Hey!

I got a loan through 'thecarpeople' when I purchased my car from them two years ago. The interest rate seems to be really high though so I was hoping to be able to get a loan somewhere else to pay off the outstanding balance. The problem is myself and my wife are both unemployed so I cannot find a bank loan I would be accepted for.

Does anyone have any suggestions?

Well done in checking the interest rate and observing that it is unusually high. You have taken an important first step.

As others have posted (perhaps not very kindly) virtually all low-interest loans are only for those who have reasonable incomes, and so are not an option for you (although you might find something with ZOPA or your local credit union). However, if you can do anything to raise a little surplus cash (perhaps selling things on Ebay or at a car boot sale; missing a meal to aid your Easter prayers...) then use that extra money to reduce your debt.

BugsyBrowne

I Would recommend Starting off maybe getting a part time job as I believe the likes of creation credit cards take on part timers, I would avoid applying for any loan as the answer would be no unless you have an excellent credit report and lie.

broad-sword_2

Sorry to sound harsh, but if you are unemployed you should not be messing about trying to transfer debt on something like a car. Apologies if you have, as no-one has asked, fallen on hard times since taking the loan out, but no - unless having a car is vital to your job or potential business prospects, you need to concentrate on more important things.

Beetlemama

broad-sword wrote: »

- unless having a car is vital to your job

I have to agree with the others, unless the outstanding amount is WAY higher than the cars worth, you need to sell it. The tax and insurance and MOT's and that must be hard when you're not working, wouldn't it take the pressure off some if you didn't have it any more?

jonesMUFCforever

Troll alert here!!!!!!!!