Personal Loan for a new car

mrbloggs_2

Got my car loan from Sainsburys bank about 3 months ago,borrowed £8000 over 4 yrs at 3.5%,was advised to go there by someone in the car business.
Am self-employed live in a rented flat and got a good credit history,never had to show them books either.
Had the money within a week,maybe you could try them as there interest rates aren't bad.

mcpitman

benevs wrote: »

Can I appeal against it or something or put a complaint in or is it worth me threatening to move my current and savings account to another bank in hope they will then give me a better rate?

Thanks

Ben

So that savings account then..... what's in that? If you can afford to repay a loan every month, why haven't you saved up the money to buy the car outright?

In addition, you can threaten the bank all you like, they won't care and still won't lend you the money.

foxy-stoat

Well done for getting accepted for a £10,000 loan...

If your taking home £1750 say and only spending around £450 on bills...wheres the only £1350 a month going? You could easily save this and buy the car outright.

I wouldnt worry or look at any numbers Noddle or Experian give you, they are meaningless.

iolanthe07

Don't take it personally. The bank may just have fulfilled its quota for low interest loans that month; they're not going to lend at low interest more than they are obliged to, to meet the 51% requirement.

CLAPTON

benevs wrote: »

Thanks both,


I've had plenty of credit in the past for other cars loans, phones and a personal loan before. I also have a credit card but with nothing on it at the moment, but as I said I've never missed a payment on anything. So I don't think its limited credit history.

oh dear,
living at home and earning 27k you should be saving about 10 grand a year towards a house.