Egg Loans - £3000

jenni1188

Hi all,

has anyone had an egg loan?
Please fill me in on your experiance as they seem to accept young people with no credit history!

I am 19 and need a car loan for £3500, over 3 years at approx £120 p/m i am earning £14,450 and work full time in an architects office!

I live with my mum in a council house and have recently got a credit card out to help gain a credit score!

Please any adice on where i can go or on Egg loans, my bank wont give me one till October as i have only just upgraded my account to a current account as they never told me i wasn't making intrest on my cash card account!

Thanks and good luck to you debt free wannabees

Paulxo

Hi,

I got an Egg loan a few years ago. One con I fell for was buying insurance on top... make sure you don't bother with that. When I tried to use it they got out of it.

Instead of taking out this loan, I would recommend you try matched betting. YOu could easily make £2k in a couple of months, and buy a cheaper car.

At 19, I don't see the point of such a commitment. I have a rule that says 'never borrow money to buy a depreciating asset' and that's certainly what your car will be doing....so as the interest increases, the value decreases.

See gambling introductory offer loopholes forum for more on this. Some people have made £20k plus doing this. Why not at least look?

pm me if you want to know more.

Good luck

lucy_w86

jenni1188 wrote: »

Hi all,

has anyone had an egg loan?
Please fill me in on your experiance as they seem to accept young people with no credit history!

I am 19 and need a car loan for £3500, over 3 years at approx £120 p/m i am earning £14,450 and work full time in an architects office!

I live with my mum in a council house and have recently got a credit card out to help gain a credit score!

Please any adice on where i can go or on Egg loans, my bank wont give me one till October as i have only just upgraded my account to a current account as they never told me i wasn't making intrest on my cash card account!

Thanks and good luck to you debt free wannabees

I have looked into betting and its very complicated!

I am also looking into using Egg and I dont have a great credit history (applied for too many loans at one time which I didnt realise dented your credit history - we all learn from stupid mistakes). My partners car has died and it is quite old but he needed to get something cheap due to his own car loan from 2 years ago. We are looking into getting something more reliable and I will pay for it. I can drive but dont want a car yet and he needs it for work!

mightymouse

Try these links, just be aware re add ons etc

(right click open in new window)

https://www.yourpersonalloan.co.uk/

https://new.egg.com/visitor/0,,3_11104--View_148,00.html

http://www.moneybackbank.co.uk/home.html

keeperbear

Paulxo wrote: »

Instead of taking out this loan, I would recommend you try matched betting. YOu could easily make £2k in a couple of months, and buy a cheaper car.

At 19, I don't see the point of such a commitment. I have a rule that says 'never borrow money to buy a depreciating asset' and that's certainly what your car will be doing....so as the interest increases, the value decreases.

See gambling introductory offer loopholes forum for more on this. Some people have made £20k plus doing this. Why not at least look?

I can't believe your advice to a 19 year old. At the age of 35, I have never seen anyone make "£20k plus" from betting and gambling. If it was that easy, everyone would be doing it. Gambling is a mugs game, always has been. If the majority of people won money from gambling the betting firms would go out of business. The fact is that most people lose. The OP should ignore your risky and off topic advice.

If the OP needs a car for work, she has no choice. I would try Egg and see what they offer you. Just decline the insurance.

jenni1188

Thanks for all your replies, it is much appreciated!

As for not taking a loan out, many young people buy cars on finance and loose £2000 when they drive it away, £3000 gets me the car i want, i wont loose as much as i would on a brand new car and with a loan its mine, i can do what i want, as many miles as i want and i dont have to give it back how i took it out! I dont want a Citroen C1 and pay £6k when i can have a used golf for £3k.

As for gambling its a fools game and you will end up spending more than you would on a high intrest loan!

I have savings but i will loose more than the intrest i pay back on a loan if i dive into them, plus they are there for my future and i would like to invest in them rather than loose money. Everyone looses money on a car but i would rather get the car i want for £3k and loose less than a new car!

Any more suggestion welcome

Thanks

mightymouse

Hi

I looked at the following site a few years or so ago so I am NOT recommending other than look and see if it has anything to offer.

(right click should open new window)

http://www.youngmarmalade.co.uk/index.php?source=young

lucy_w86

mightymouse wrote: »

Hi

I looked at the following site a few years or so ago so I am NOT recommending other than look and see if it has anything to offer.

(right click should open new window)

http://www.youngmarmalade.co.uk/index.php?source=young

http://www.youngmarmalade.co.uk/quote.php?per=48

I was reading the above and it looks interesting.

Has anyone used this site? Can you recommend?

lucy_w86

jenni1188 wrote: »

Hi all,

has anyone had an egg loan?
Please fill me in on your experiance as they seem to accept young people with no credit history!

I am 19 and need a car loan for £3500, over 3 years at approx £120 p/m i am earning £14,450 and work full time in an architects office!

I live with my mum in a council house and have recently got a credit card out to help gain a credit score!

Please any adice on where i can go or on Egg loans, my bank wont give me one till October as i have only just upgraded my account to a current account as they never told me i wasn't making intrest on my cash card account!

Thanks and good luck to you debt free wannabees

Well, I just got refused so it seems they are not as open to applications as first thought.

millsee

keeperbear wrote: »

I can't believe your advice to a 19 year old. At the age of 35, I have never seen anyone make "£20k plus" from betting and gambling. If it was that easy, everyone would be doing it. Gambling is a mugs game, always has been. If the majority of people won money from gambling the betting firms would go out of business. The fact is that most people lose. The OP should ignore your risky and off topic advice.

Wow!
Keep your hair on and read the post carefully! :eek:


What the poster is suggesting is something called "matched betting". It is a risk-free way to exploit the free offers that online bookmakers send. It is a very simple and sure-fire way to make some money and is NOT gambling.

It is discussed on this very forum.

I made a very easy £2K from it a few months ago and was surprised by how simple it really was.

Please don't jump down people's throats when they are making serious and constructive suggestions.

jenni1188

lucy_w86 wrote: »

Well, I just got refused so it seems they are not as open to applications as first thought.

Who did you try? Can i ask are you in full time employment and what is your credit status?

I am 19, no credit history, have a lot of searches on my record as i didn't know it affected your credit score and am in full time employment!

Do you think there is any point in my applying oh yeah and my credit score is 369.