Loan Advice

Guru86

Hello,

I am looking to get a new car plus some home improvements after moving into a house.

To do all this I need a loan for 18000 which would allow me a new car plus home improvemetns and pay off my credit card. I currently pay 150 a month off credit card and 185.50 for car loan. So putting that together it would allow me to pay off each month 335.

Would it best to get it all on one loan OR put home improvements on credit card and then get a loan for car?

Thank for help in advice, I currently have no initernet so dont be offended if I dont reply str8 away.

Rafter

Guru,

All depends on your credit rating.

The key is to get your APR as low as possible, and make sure you give yourself flexibility to pay your debts off earlier if you can without paying a big penalty.

You are in the right ball park. You should be able to get a 5 year loan for 18k with repayments of about £350 a month if your credit rating is good.

Problem with credit card is that you might initially get a 0% card, but the offers don't last as long as they used to and you will get slapped with charges when you transfer to a new 0% offer.

Make sure your current car loan is finished too so you don't end up with an overlap.

R.