I need £1500 this week.

benbay001

Hi, 

Sorry for the rather exaggerated title, its not quite a life or death situation.

I have just agreed a sale on my every day car and now need to buy my next car as i am without an every day car.

Im short from the car id like to buy by £1500. 

I am looking to borrow £1500 and i have until Thursday off work to go car hunting.

I can repay the loan upon my next pay day (or using the money from my ISA which is currently going through a transfer to a new account that wont be completed for a few weeks).

My ideal option would be a money transfer credit card but i dont know how long the transfer will take, otherwise, how long can i expect to receive the money from a personal loan?

And no, i dont want a pay day loan

Thanks in advance.

cymruchris

If you apply and qualify for a money transfer card it may take longer than you need in terms of the above timsecales. 

[Deleted User]

benbay001 said:

Hi, 

Sorry for the rather exaggerated title, its not quite a life or death situation.

I have just agreed a sale on my every day car and now need to buy my next car as i am without an every day car.

Im short from the car id like to buy by £1500. 

I am looking to borrow £1500 and i have until Thursday off work to go car hunting.

I can repay the loan upon my next pay day (or using the money from my ISA which is currently going through a transfer to a new account that wont be completed for a few weeks).

My ideal option would be a money transfer credit card but i dont know how long the transfer will take, otherwise, how long can i expect to receive the money from a personal loan?

And no, i dont want a pay day loan

Thanks in advance.

A money transfer card might work if you apply for the money transfer as part of the application, I know MBNA allow you to do that.  Failing that an overdraft could work especially if you can gt one at 0%.

benbay001

Ive never been into my overdraft, and dont have the facility set up.

Does use of overdraft show on your credit file?

Thanks

cymruchris

benbay001 said:

Ive never been into my overdraft, and dont have the facility set up.

Does use of overdraft show on your credit file?

Thanks

If you don't have one - you might find that you wouldn't get offered £1500 straight away. 

The interest rates are high - although you're planning to pay back quickly.

Yes it shows - as does the use - and by how much.

benbay001

cymruchris said:

benbay001 said:

Ive never been into my overdraft, and dont have the facility set up.

Does use of overdraft show on your credit file?

Thanks

If you don't have one - you might find that you wouldn't get offered £1500 straight away. 

The interest rates are high - although you're planning to pay back quickly.

Yes it shows - as does the use - and by how much.

Ok. I think ill give it a miss then.

Thanks

Anyone know a lender who is prompt with the transfer of money?

DCFC79

benbay001 said:

cymruchris said:

benbay001 said:

Ive never been into my overdraft, and dont have the facility set up.

Does use of overdraft show on your credit file?

Thanks

If you don't have one - you might find that you wouldn't get offered £1500 straight away. 

The interest rates are high - although you're planning to pay back quickly.

Yes it shows - as does the use - and by how much.

Ok. I think ill give it a miss then.

Thanks

Anyone know a lender who is prompt with the transfer of money?

Hatchet Harry outside the local boozer will be able to help, a bit risky when your knee caps could be at risk.

Grumpy_chap

If I have read the OP correctly, the OP is looking to buy a new (used) car and pay cash but is around £1.5k short of the amount needed to buy outright.  This extra amount can be repaid in the short-term.

All the information about selling the current car and having time available until Thursday to shop the next car is background information, but does not change the financial challenge.

The OP does not say how much the £1.5k is from the total that the OP is looking to spend.  If it is a small proportion, then one option would be to simply find a slightly older car and do the cash purchase.

If the OP does find the correct car and the finance is required at £1.5k, it is worth enquiring from the supplying dealer as they may well be able to offer finance at an acceptable rate.  The dealer may also me more open to negotiate on the "window" price of the car if they gain from the commission in selling the finance.  Once the OP has the car and the finance, they should be able to repay the loan early at minimal fee / costs / charges - the OP will need to check the details of the product offered, but this could be an option worth considering.

benbay001

Thanks, 

I ended up getting a Zopa loan at 8% APR, the money was in my account within 20 minutes and there are no early repayment charges.

Top marks to Zopa!

cymruchris

Excellent so you're all sorted - now make sure you buy a decent car!

maxsteam

I was going to suggest asking for a cash advance on a credit card (one that you've already got) over the counter at your local branch, or spend less on the car.