Loan for car based on upcoming salary - apply now?

jaxkesa

Hi

Well I am changing jobs and will lose my company leased car so need to get one of my own. I will need to apply for a loan to do this.

I start my job in about a month and my salary will be higher and then a little higher after 3 months and a little more higher after 6 months. Will the bank take this into consideration if I take out a loan now? I have the salary figures in writing.

I also currently already have a loan with my bank with a few years left on it. Is it a better idea to talk to the bank about topping it up, getting a new one, or trying another lender? I have a reasoanble rate at the moment (7.9%) as it is an HSBC graduate loan but have seen places like Abbey with 6.8% (typical). :rolleyes:

Would really appreciate any advice, thanks.

jenni1188

Because you will have not been in employment long this will count against you as its not secured enough, i got declined for a £400 HPI laptop as i had only been in employment 3 months. They need 3 past pay slips usually so no they wont take it into account.

jaxkesa

I suppose it could count against me. Tho when I applied for my graduate loan I had only been working for about a month after uni. So maybe my bank will consider it but other lenders wont.