Best way to get a car on finance?

MSul

Yea there's a limit to what you can get on a balance transfer card but it only means you then get a loan for the remaining amount at a much lower interest rate coz you're asking for less. So balance transfer cards should be your first point of call.

ritchiej91

Tarambor wrote: »

I already do stoozing. Doing it with an overdraft is a no-no because of how much it negatively impacts your credit record being consistently in your overdraft month after month. Being in your overdraft is pretty much guaranteed to put an end to stoozing.

And it isn't virtue signalling, the vast majority with very few exceptions who are in overdraft are there because they're living beyond their means.

I guess I'm one of the few then.. Following on from your advice I have deposited the final £500 into the overdraft. So thankyou for that advice. Any more suggestions?

The issue I have now is I have to wait another 30 days for this to be reflected on my credit report

ritchiej91

MSul wrote: »

Yea there's a limit to what you can get on a balance transfer card but it only means you then get a loan for the remaining amount at a much lower interest rate coz you're asking for less. So balance transfer cards should be your first point of call.

That would require to credit checks. I already have two on there from santander when I moved over to them and opened a joint account with my partner

MSul

Yes you'll have footprints it still doesn't mean credit will get denied to you, there are lenders out there who aren't as strict as for example HSBC. Some people get mortgages £££,£££ and have had recent loans and ask for loans after it and still get it, it all depends on what lender you're using and what risk they apply to their lending.
The best course of action for me is always going for a 0% balance transfer card, get that money in my account, and then finance the rest with a loan. It's the only way to save up on paying interest.

Look up balance transfer cards, you'll have plenty to chose from.

Mercdriver

MSul wrote: »

Yea there's a limit to what you can get on a balance transfer card but it only means you then get a loan for the remaining amount at a much lower interest rate coz you're asking for less. So balance transfer cards should be your first point of call.

Often the interest rate will be higher on lower amounts being borrowed. Opening up several lines of credit may well delay things for the OP. He could end up with a 0% card for 14 months with a £5k limit and declined for a cash loan for much nearer the amount he wants or be offered a rate that is higher than a normal credit card borrowing rate.

MSul

Im not deyning that possibility and that can only be assessed if we know the full details of the OPs credit score...

ritchiej91

Quick question. I have a phone on the Samsung upgrade program, I have £350 left to pay on it and it is showing up as a loan on my experian file. Would it be better to keep paying monthly to demonstrate i can keep up with payments or just clear it?

thanks in advance