Nationwide personal loans

oldskoo1

I'm also confused by their process

I have the agreement in principal but i haven't electronically signed yet. Do i need to electronically sign for them to continue checks.

My issue is i dont know how long it takes to do the checks and initiate the transfer.

I'm using the loan for a car which is being checked early March. If the car is ok i will need the money, if it isn't i wont be buying it.

If i tick to sign online, they could issue the funds within 2 days which will put me outside my 14 day cooling off period if the car is duff.

If i leave it, it might not get through in time as i need 3 - 5 days for the transfer.

Apples2

There are plenty of cars for sale.
It is a high risk strategy commiting to a car purchase if you don't have the funds available. It isn't something I would ever do.

Nothing wrong with taking the loan anyway and sticking in a savings account whilst you are looking.
It also gives you a chance to get used to the monthly repayments without the added burden of Tax, Insurance and a desire to continually fuel it up when it's all new and shiny.

oldskoo1

The car i'm looking at is quite rare and i do have the funds from 2 sources. Once i've sold my own it will cover the loan or i do have it in savings but i would rather get a loan and pay it off once mine is sold.

I did think about it, it is risky but my car is in great condition, low mileage, full history, warranty and i'm going to competitively price it.