Pay later loans

DCFC79

CHR15 wrote: »

But not enough to save a penny for it?
Can we assume you don't mean you will repay it in 12 Months but would rather START repaying it in 12 Months?

Yes that's how I read it.

Nasqueron

I went to Australia for about 5 1/2 months + did some extra travelling after uni - on a working holiday visa (only available to those up to 30 unfortunately) - I borrowed £3000 from my mum for the entry requirement and had savings of my own. I worked for about 3 1/2 months in Sydney earning, saving and travelling at weekends while staying in cheap hotels and later a rented room for 3 months.

It's not by any means difficult to live on the cheap there especially if you can cope with dorms in hostels. There was a local pub that did a meal of fish & chips or steak or spag bol + drink for about 5 dollars! With my partner we learnt to dive, visited touristy places (staying in hostels), had entertainment etc - not at all scrimping to get by but having fun while working to pay the bills

enthusiasticsaver

No such loan exists. Normally people who wish to go off travelling either save up or go on a working visa and work on farms etc over in Australia picking fruit etc. I know several people who have done that but they all worked for a while and saved up as much as they could to pay for flights and a few weeks and then researched where they could work abroad. Lots of youngsters do it so they are well geared up but you need to get your working visa first. I think they give you a year initially with the option to stay for a further year.

MEM62

wallabypom7 wrote: »

I have always wanted to visit Australia...

But not enough that you have saved anything for it?

You are unlikely to find they type of loan that you want. On the basis that most lenders link the APR to risk - what do you think the APR is going to be on a loan for someone that is unemployed, leaving the country and will still be unemployed of they come back after 12 months?

Save for it. You will enjoy the experience that much more knowing that you'll not be coming home to a debt to pay for it.

19lottie82

HappyMJ wrote: »

Australia's not that expensive.

Really? Depends where you stay. Sydney is EXTORTIONATE! I don't think the OP would need 10k tho.

Back to the OP, a loan to go on a holiday is not a good idea, and I don't even think the kind of loan you'd be after exists.

If you are insistent, I suppose a 0% APR credit card would be the best answer. You would have to pay the minimum payment back each month tho.

Nasqueron

19lottie82 wrote: »

Really? Depends where you stay. Sydney is EXTORTIONATE! I don't think the OP would need 10k tho.

Back to the OP, a loan to go on a holiday is not a good idea, and I don't even think the kind of loan you'd be after exists.

If you are insistent, I suppose a 0% APR credit card would be the best answer. You would have to pay the minimum payment back each month tho.

It can be extortionate if OP wants to stay in hotels and eat in restaurants yes. Hostels are cheap (join the YHA before leaving UK or join over there) and there are plenty of cheap places to eat outside the town centre. If this trip of a lifetime for OP involves living in luxury it will be expensive and OP is probably delusional to run up massive debt for the sake of a holiday. If it means budget and scrimping they can do it fine and don't need 10k - local flights are cheap, hostel beds are cheap, food in pubs or markets is cheap

19lottie82

Nasqueron wrote: »

It can be extortionate if OP wants to stay in hotels and eat in restaurants yes. Hostels are cheap (join the YHA before leaving UK or join over there) and there are plenty of cheap places to eat outside the town centre. If this trip of a lifetime for OP involves living in luxury it will be expensive and OP is probably delusional to run up massive debt for the sake of a holiday. If it means budget and scrimping they can do it fine and don't need 10k - local flights are cheap, hostel beds are cheap, food in pubs or markets is cheap

General living is a lot more expensive too. Everything from mobile phone contracts to bottles of shampoo.

Ebe_Scrooge

wallabypom7 wrote: »

I have always wanted to visit Australia.

So have I. And the Bahamas. And the Seychelles. It ain't gonna happen any time soon though, 'cos I can't afford it.

If you can afford to pay it back in 12 months, then save for 12 months and go on holiday then, and save a shed-load of interest.

Sorry, but there is no reason on earth to get into debt over a holiday. If you can't afford it from your savings then don't go.

( This coming from a bloke who - at long last - is relatively comfortably-off, though far from rich, but who in the past was on the brink on bankruptcy, facing losing everything, couldn't even afford a tin of beans to put on his toast. The idea of a holiday, even a week camping in Skegness, was pie in the sky).

Nasqueron

19lottie82 wrote: »

General living is a lot more expensive too. Everything from mobile phone contracts to bottles of shampoo.

Perhaps it has shot up in the years between then and now, we got PAYG contracts on basic phones, shopped at the supermarket buying own brand stuff etc. I don't think OP wants to live though, just travel, so staying in hostels, basic own brand toiletries etc and frugal living could make it possible, just not with a loan, it's something to save for