Ahhhh I want a new car!!!

niccy

southernscouser wrote: »

No as usual people actually give a !!!!!! about others and don't want to see them fall in to the same traps they did!

I think they call it compassion. They obviously missed you when handing it out!

yes but..........
i can see freddies point of view:o

you did ask

anyway

try alliance and leicester,they have always been good to me with personal loans ( last one at 5.9% ).My credit score is somewhat like yours, 991

but i would never buy a brand new car :beer:

jonesMUFCforever

countrygirl84 wrote: »

Just an idea.... why don't you take the loan anyway to repay your credit cards. Then the monthly amount you're saving each month, put into a savings account and in a few months time you will have a car! Then you will have made a dent with your credit card debts and own your car outright!

He can't take the personal loan because he was declined.
He does not want to go through the secured loan route because his girlfriend is debt free and does not want to lose the house if they default.

I don't quite understand how he will be saving as if he does get a loan he will have to make repayments on it!

wookie_2

niccy wrote: »

yes but..........
i can see freddies point of view:o



but i would never buy a brand new car :beer:

why not, there are some cracking deals out there on the net.
i have never ever paid full price for a brand new car, i always seem to get massive discounts on cars, i might have to travel from hampshire where i live to manchester to save £4000 on a brand new car of the net but its worth it, you get a day out to somewhere you have never been and you save a bundle on a new car, ensuring that you have done your homework first that is:D

tom188

expensive day out though when you look at how much the car is worth a year later...

wookie_2

tom188 wrote: »

expensive day out though when you look at how much the car is worth a year later...

not really as if i bought the same model at my local dealer it would have cost me that £4000 i had saved so no not really,:D

countrygirl84

ejones999 wrote: »

He can't take the personal loan because he was declined.
He does not want to go through the secured loan route because his girlfriend is debt free and does not want to lose the house if they default.

I don't quite understand how he will be saving as if he does get a loan he will have to make repayments on it!

He was declined with one company. Direct Line offer a good interest rate so their credit rating will be higher. I have not advised a secured loan!
And he would be saving money on monthly repayments because he will be paying more off his credit cards each month than he would by paying a loan. So if he has £15k on cards, he will prob be paying a min of £300pm. I he put that onto a loan though, it may only be £200!

strike13

i suggest you lease a car! this will be useful to you alot

looby-loo_2

freddiejf wrote: »

as usual on this site - too many use it as an opportunity to 'PREACH' to others about 'this' 'that' 'and the other'!!!

The question raised was how can I get a loan for £20k to help get a car. Can anyone answer that rather than giving answers to a things he never asked for?

Many people come on here to get financial advice and help. The OP is clearly in need of advice as he admits 'I don't know how I managed to rack up so much on nothing!!!'. Some people don't want to see him getting himself into more financial trouble.

jonesMUFCforever

countrygirl84 wrote: »

He was declined with one company. Direct Line offer a good interest rate so their credit rating will be higher. I have not advised a secured loan!
And he would be saving money on monthly repayments because he will be paying more off his credit cards each month than he would by paying a loan. So if he has £15k on cards, he will prob be paying a min of £300pm. I he put that onto a loan though, it may only be £200!

''Direct Line offer a good interest rate so their credit rating will be higher''

What in heavens name does that mean?

A Personal rate at 8.9% (very doubtful he will get that rate IMO) would cost approx £308 per month over 60 months. A seven year term would push up the APR even higher so he would pay more interest.

What savings? It is plain to see that OP cannot afford any more borrowing at this time.

freddiejf

TO EVERYONE:

Just to let you know I do have compassion for anyone in debt - I have been there in the past and it's horrible. The point I am making is, the question he asked was: 'how can I get a loan for 20k' - he wants answers to that - he didn't ask for peoples opinions on whether or not it was a good idea. In fact if you look at most threads on this site you often find in 20 replies made up of 18 who are 'preaching' about not being in debt and only 2 who answer the actual question. The point is there is nothing wrong with being in debt, if it's properly managed.