two loans at once?

Joeler

27col wrote: »

I don't really have a problem with someone buying a £20k car. But not on credit. That is madness in my opinion. You have the interest going one way and the depreciation going the other. It is bad enough having to finance the depreciation without having to add in the cost of the interest as well. Some people do seem to have scant regard for their money. Although, having said that, it is their money.

Well until lenders start paying people to borrow money or cars become so rare that they actually go up in price, this is always going to happen. I very much doubt that the depreciation and car plus the cost of the loan here would equate to the same money you would immediatley lose through stamp duty if you were to buy a 250k house, yet people think that is perfectly acceptable!

bankhater_1965

pheonixrising21 wrote: »

Maybe thats because this is the loans board??? No doubt if someone asked which ISA was best on this board, you would tell them to move the thread to the correct board!

Besides, the OP didn't ask for your opinion on whether to buy a new car or not, they asked whether it was possible to split to £20k between two lenders to lower the interest rates. What he is spending the money on is irrelevant. Would it be better for you if he wanted the £20k to build an extension on his house instead?

PS Bankhater, if you hate credit and like savings, but hate banks, where do you save?

they dont have my money , i have theres in interest ,

fiesta04

bankhater_1965 wrote: »

they dont have my money , i have theres in interest ,

Would love to know why they give you interest if they do not have your money!!!:rotfl::rotfl::rotfl:

No seriously,, you are completely correct the Banks do not have your money as they have lent it to others and they are only passing on some of the interest they are making to you.

F4