We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
loans for fair credit
Hi, I am looking for a loan to purchase a car (£8000). I am a homeowner, have been for 9 months, I have a credit card from capital one (£250) limit, I have a current account with halifax, who refused me for a credit card 12 months ago.
I have my credit score which is 850, fair/good, I have no defaults, no missed payments, it is saying my credit score is fair as I have no credit history...never had any before!!
Not sure whether to try for an unsecured loan with sainsburys, m&s etc or go for the secured loan with nemo? or do I approach my mortgage company??
any help much apprecited I am all new to this
Thanks
I have my credit score which is 850, fair/good, I have no defaults, no missed payments, it is saying my credit score is fair as I have no credit history...never had any before!!
Not sure whether to try for an unsecured loan with sainsburys, m&s etc or go for the secured loan with nemo? or do I approach my mortgage company??
any help much apprecited I am all new to this
Thanks
0
Comments
-
Dont read too much into your score of 850, lenders dont see it. You can buy a car thats less than £8k. You do know a secured loan means its secured against the car and if you miss a payment or payments you could lose the car ? Use nationwides soft search option to see what you could get.0
-
You will also need to consider your income and outgoings. How much disposable income do you have towards the purchase of the car and the associated running costs - insurance, MOT, maintenance, VED (road tax, as was), petrol etc. Cars are money pits, and sorting out a budget for your costs will be essential before you sign up to a loan.Some days, it's just not worth chewing through the leather straps....
LB moment - March 2006. DFD - 1 June 2012!!! DEBT FREE!
May grocery challenge £45.61/£1200 -
Hi, I am looking for a loan to purchase a car (£8000). I am a homeowner, have been for 9 months, I have a credit card from capital one (£250) limit, I have a current account with halifax, who refused me for a credit card 12 months ago.
I have my credit score which is 850, fair/good, I have no defaults, no missed payments, it is saying my credit score is fair as I have no credit history...never had any before!!
Not sure whether to try for an unsecured loan with sainsburys, m&s etc or go for the secured loan with nemo? or do I approach my mortgage company??
any help much apprecited I am all new to this
Thanks
I'm more concerned why Cap 1 have gave you a £250 credit limit, to me this ring alarm bells."You know when it's cold outside when you go outside and it's cold"0 -
Have a look at Money Supermarket, they do soft search loan enquires, this will give you a beter idea
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards