Advice on loan

jase25555

I've recently applied for a loan at my bank HSBC, got accepted for 5000 BUT then I cancelled which was a daft thing to do & needed an extra 1000. What I'm asking is now I've been declined are there any other lenders which have reasonable APR rates I could use? It says I have a poor credit history even though I've just payed £850 off my Capital one Card, account is now closed.

I also have a barclays card with £200 left on. I currently have £500 to spend as a deposit for a car. One thing I am not sure of is I may get declined for car finance due to the fact it says my credit history is poor (saw some people says its means nothing) Experian that is.

My yearly salary is only 12,300 BUT I have around £700 spare each month, earning £950-£1000 roughly each month. Just passed my test so I don't particularly want to wait to get a car, I'd rather get one NOW as I need it for work. A car would cost around 6000... maybe I should get a little less. Any help would be appreciated, any more info needed I'll happily provide!

Thanks

CLAPTON

what do your credit files actually say?

if you have 700 spare each month why do you have CC debts?

jase25555

I put some money on there for family which is being finished this coming month. So then debt free, on my credit file it doesn't say my Capital One has been "settled" yet. Most of which are satisfactory including my Barclays card. I have a couple of O2 contracts appearing, a TV on finance but that's been settled.

Score of 600 which makes it poor.

Capital one - Satisfactory (Finished)
Barclays - Satisfactory (£200 left)
My bank is also Satisfactory, nothing which looks bad apart from the Capital one card which is appearing with all the credit on there.. makes me wonder if that's what's making it bad. Even though its payed off.

worried48

Can't you re-apply to your bank?

jase25555

I can on 24th January, they said another 3 months

R_P_W

buy a car for less than £6k - job done

worried48

O I only just realised it's for a car. I've never spent more than about 2k on a car in my life. Go to ebay and get something you can afford. Seriously.

DCFC79

jase25555 wrote: »

A car would cost around 6000... maybe I should get a little less.

Well a car doesn't cost 6k, can get them for as little as £200 i reckon and the skys the limit. Gor one thats £2k, check the internet for ones that are reliable.

harrys_dad

If you have just passed your test have you any idea how much insurance for the car will be? it could cost you more than the car depending on your age. As others have said as well, buy a cheaper car if you need a car at all.