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Tesco Loan Agreed

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youAREaCINEMA
youAREaCINEMA Posts: 7 Forumite
edited 26 July 2012 at 6:49PM in Loans
@mods: Please delete this thread - thanks
«13

Comments

  • dealer_wins
    dealer_wins Posts: 7,334 Forumite
    It will be with the paperwork you have received.

    Have a good read of it all before your sign your life away :)
  • rdchick
    rdchick Posts: 1,815 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    woah that is a massive loan for a 19 year old - make sure you're 100% about what you're getting yourself into! xxx
    Life is too short not to love what you do.
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    rdchick wrote: »
    woah that is a massive loan for a 19 year old - make sure you're 100% about what you're getting yourself into! xxx


    We will find out what he has got himself into when he comes back to say he is behind with the loan.
  • rdchick
    rdchick Posts: 1,815 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    DCFC79 wrote: »
    We will find out what he has got himself into when he comes back to say he is behind with the loan.

    I really hope it doesn't come to that as that's a lot of loan to default on!! xxx
    Life is too short not to love what you do.
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
    Maybe he has a large income and few obligations, but on the face of it he has a good deal.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • youAREaCINEMA
    youAREaCINEMA Posts: 7 Forumite
    DCFC79 wrote: »
    We will find out what he has got himself into when he comes back to say he is behind with the loan.

    I have £20,000 in the bank and earn £26,000 after tax and like 'iolanthe07' says, few obligations. I WON'T fall behind.
  • Tixy
    Tixy Posts: 31,455 Forumite
    youAREaCINEMA wrote: »
    I have £20,000 in the bank and earn £26,000 after tax and like 'iolanthe07' says, few obligations. I WON'T fall behind.
    If you have 20k in the bank it won't be earning anything like 9.7%. Surely out would be better to use some of that money rather than get a loan?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • bargainbetty
    bargainbetty Posts: 3,455 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Use the savings, and send the 'repayment' to your own account at the same monthly charge as the loan would be.

    You get the savings, the bank gets nothing. Much more sensible.
    Some days, it's just not worth chewing through the leather straps....
    LB moment - March 2006. DFD - 1 June 2012!!! DEBT FREE!



    May grocery challenge £45.61/£120
  • R_P_W
    R_P_W Posts: 1,524 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I have to agree with the above. If you have £20k in the bank then would make more sense to use that for whatever purpose you wanted the loan for. If you take 10k out your savings you still have a pretty good buffer of cash available for emergencies etc.

    Your paying nearly £1k in interest when you could be paying zero and earning interest on your savings.
  • rdchick
    rdchick Posts: 1,815 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Riiiight... so £20K in the bank... what on earth do you need £30K for?! xxx
    Life is too short not to love what you do.
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