Help needed for a loan!!

cnstokes

hi all, hoping you can provide me with some help or advice! i won't bore you with all in the info so i'll give you it in basic english

need a 9-10K Loan for a car asap
my credit rating is FAIR but i've never had any bad credit or late payments against me
i've had 14 credits and all been settled with no hassle
went to my bank they give me 24% apr!! which is a joke!!
I'm 24, in full time employment earning between 20-24K a year and live with my parents

was hoping if anyone knew of any loan companies that would give me an apr of under 13% with my fair credit profile

Cheers

Chris

Mara69

No one NEEDS a car costing £9-10k. That said, if you are determined to go ahead there are many companies offering lower APR's than 24%. No guarantee you'll get offered a loan though.

callistris

What is it with these loan threads lately, where they need a loan of 8 - 10K for a car?

The most I've ever spent on a car is £3000 and that was from savings I would never get a loan for a car, ever!

CLAPTON

cnstokes wrote: »

hi all, hoping you can provide me with some help or advice! i won't bore you with all in the info so i'll give you it in basic english

need a 9-10K Loan for a car asap
my credit rating is FAIR but i've never had any bad credit or late payments against me
i've had 14 credits and all been settled with no hassle
went to my bank they give me 24% apr!! which is a joke!!
I'm 24, in full time employment earning between 20-24K a year and live with my parents

was hoping if anyone knew of any loan companies that would give me an apr of under 13% with my fair credit profile

Cheers

Chris

why is your credit rating only 'fair'
what exactly is on your credit reports?
electoral roll?
existing debts?
use of overdraft?
existing credit lines?

BugsyBrowne

callistris wrote: »

What is it with these loan threads lately, where they need a loan of 8 - 10K for a car?

The most I've ever spent on a car is £3000 and that was from savings I would never get a loan for a car, ever!

Oh well done you 'so you've spent 3k on a car so it means everyone else should do the Same, if a member wants a 10k car and can afford the repayments what buisness it to any member on here.

DCFC79

Just have to ask OP if your living with your parents how come you haven.t saved a third of your salary to then use to buy a car.

callistris

BugsyBrowne wrote: »

Oh well done you 'so you've spent 3k on a car so it means everyone else should do the Same, if a member wants a 10k car and can afford the repayments what buisness it to any member on here.

Haha your sarcasm is almost funny;)

bargainbetty

BugsyBrowne wrote: »

Oh well done you 'so you've spent 3k on a car so it means everyone else should do the Same, if a member wants a 10k car and can afford the repayments what buisness it to any member on here.

If the bank is refusing to lend the OP money at less than 24%, perhaps they don't think he can afford the repayments?

The first post is a little melodramatically written when you can get a perfectly good car for a lot less than that.... I've paid £8K, and I've paid £2.7k.... I only paid the £8k when I had £3k to put down and a decent loan offer for the rest. I couldn't give a toss if the OP wants a big car.

OP, how much outstanding debt do you have compared to your income? Are you on the electoral roll? Do you have any markers on your file to indicate why you are considered 'fair' rather than 'good'?

If your own bank won't lend to you, try one other, then stop if you get rejected. Too many rejections will hurt you. You have as much chance with one of your previous creditors (credit cards from banks?) assuming you paid on time and in full every time....

cnstokes

cllistris: i don't mean to be rude but i didnt ask your opinion on how much i should spend on a car

i asked for advice on a loan

my job entails me to be on the road most days of the week so if i spent £3k on a !!!! car it would last me 6months as i do over 20k miles a year

DCFC79: i havent saved my wage beacuse i started my new job last month

i'm on the electoral roll, have no markers, have just under £1000 debt

DCFC79

cnstokes wrote: »

cllistris: i don't mean to be rude but i didnt ask your opinion on how much i should spend on a car

i asked for advice on a loan

my job entails me to be on the road most days of the week so if i spent £3k on a !!!! car it would last me 6months as i do over 20k miles a year

DCFC79: i havent saved my wage beacuse i started my new job last month

i'm on the electoral roll, have no markers, have just under £1000 debt

Maybe your bank just dont think your worthy to lend to you at less than 24%.

Nationwide do a soft search option if you haven't tried it yet.

CLAPTON

cnstokes wrote: »

cllistris: i don't mean to be rude but i didnt ask your opinion on how much i should spend on a car

i asked for advice on a loan

my job entails me to be on the road most days of the week so if i spent £3k on a !!!! car it would last me 6months as i do over 20k miles a year

DCFC79: i havent saved my wage beacuse i started my new job last month

i'm on the electoral roll, have no markers, have just under £1000 debt

20k a year isn't a great deal of mileage;
I just changed my 170,000 mileage car which has cost me very little over the years; only changed it to give it to offspring.

anyway debt total of 10k on an income of 20k is very high.

the rate your bank offered is reasonable in these circumstances but there is nothing stoppong you try elsewhere.