We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
First time personal loan question...
Options
Comments
-
It could well do yes as lenders may think you already have access to a large amount of credit.
Alternatively, buy the car on your credit card, and overpay as fast as you can... :-D
But yes, getting rid of as much 'available credit' as you can seems to be popular with the lenders as the overall risk is lowered. Beware - the 6% deals you're seeing may be flat rate not APR - cars are often quoted in flat terms, the APR is (very) roughly double the flat rate - 12% - if you're eligible for the low rates.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards