can I get another loan

lola_rose_3

I currently have 2 loan payments running, one with Tesco for 12k and the other for 9k with Bank of Scotland (got this one for my sister) anyway, I now need a car loan of 10k don`t know how to go about this can anyone help me out.. Many thanks

Rafter

lola,

The amount of unsecured loans you currently have may start setting alarm bells ringing if you try to make another application. If you have a fantastic salary and can tick all the other boxes they might let you have one, but £31,000 of loans is a big number.

You may have more luck with some sort of HP loan, because the loan company can always take back the car if you can't keep up with payments.

You may find you have to drive a more modest car in the short term until you have paid off some of your existing borrowing.

R.

lola_rose_3

Hi, sister has said she can now pay the 9k loan off, will this help my situation

iolanthe07

No one 'needs' a car loan of £10.000. You may want one, but whether it is wise to get one is another matter.