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Which loan to take
Hi
I currently have a loan with one company and I'm going to try and get a new loan with a better rate. According to the Mse loan calculator, I have a good chance of being accepted. What I want to know is this....supposing I go through the application with one company, get the ok but the rate isn't the best one they do. I would then like to try a second company to see if I can get a preferable rate. So in theory I already have an offer of a loan but I haven't accepted it, but will then apply for a different one.
Will I have to wait until the 14 day cooling off period expires on the first one before I attempt to get a loan with the second company. I am well aware that the loan rate advertised is not always the one that you get but I still want to get the best I can. Any info or help is welcome. Thank you
I currently have a loan with one company and I'm going to try and get a new loan with a better rate. According to the Mse loan calculator, I have a good chance of being accepted. What I want to know is this....supposing I go through the application with one company, get the ok but the rate isn't the best one they do. I would then like to try a second company to see if I can get a preferable rate. So in theory I already have an offer of a loan but I haven't accepted it, but will then apply for a different one.
Will I have to wait until the 14 day cooling off period expires on the first one before I attempt to get a loan with the second company. I am well aware that the loan rate advertised is not always the one that you get but I still want to get the best I can. Any info or help is welcome. Thank you
0
Comments
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Hi
I currently have a loan with one company and I'm going to try and get a new loan with a better rate. According to the Mse loan calculator, I have a good chance of being accepted. What I want to know is this....supposing I go through the application with one company, get the ok but the rate isn't the best one they do. I would then like to try a second company to see if I can get a preferable rate. So in theory I already have an offer of a loan but I haven't accepted it, but will then apply for a different one.
Will I have to wait until the 14 day cooling off period expires on the first one before I attempt to get a loan with the second company. I am well aware that the loan rate advertised is not always the one that you get but I still want to get the best I can. Any info or help is welcome. Thank you
You you could apply straight away after getting the offer from the first loan.
I wouldn't make no more than 2 applications though.
Depending on how much the current loan is and your salary might well dictate the apr your offered.0
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