Not desperate for a loan, help needed though

JDMYOFAN

Hi all,

I'm looking to part exchance my current car for a newer one in the new year from a dealer.. I'm not really after taking out finance (as they offer flat rate) and would prefer a loan of about 5k over 3 years..

A couple of questions really..

1) Can I apply for a loan, and then 'put back' when it kicks in? So for exmaple, if I apply for one tonight and get accepted, can i make it commence March?

2) Does it matter I have 2.5k on a credit card currently (stoozing) or should I clear this first?

3) Do i mention the loan is for a car?

Thanks

smitchy73

My thoughts

1) I don't think you could back when you recevie the money as most loans get paid into your account within a day or so of your application being approved, HOWEVER, you're already stoozing with a credit card, so why not do the same with the loan money, or even a 60 day high earning account?!
2)Don't think this will matter.
3)Most loans can be for anything you want, although most banks usually ask what you plan to do with it, you get seperate car loans nowadays too, but I'm not sure if the loan is secured on the car or not. Personally I contract hire and although I don't have an asset, I only have one payment, get all my servicing, road tax(even on a 4x4), all maintenace, and breakdown recovery, oh and new tyres when required!! Worth a look at, if interested PM me and I can put you on to a couple of companies.

JDMYOFAN

Thanks for the offer but it works out far too expensive for what I'll be using the car for.. It's a weekend car so won't be in need of all the upkeep!

smitchy73

No worries, I know it doesn't suit everyone, good luck with the rest!