Feeling guilty now.

reevo8

But whats done is done, I have a loan at 6.4% with alliance and leicester, interest is payed, 6 payments left at £164(£975 owing). My car caught alight before, and I used £500 to buy a BMW, sold it for £1000 , so £1000 cash in hand. The bike I want is for sale locally at £2400 (worth £3000 easy) so I just applied for an additional loan to make up the difference, plus some money as I threw out my gloves boots and Helmet.

After the application the interest came out at 20.9% apr. Which obviously is pants. I have the money to pay bike insurance outright which is £55 a month otherwise so I would be paying £165 + £55 = £220.

I got this loan at £239 over 1 year, and obviously a smaller repayable amount now. So £19 more than I would be paying for insurance plus loan, and with only 6months added on. By my reckonning I have done ok.

So I agree, and I was then told they will send the decision within 48 hours. I have a good credit rating but this makes me think it is rejected. Is thins likely to have been rejected or just the norm in 2008?

Cheers

Sam.