10k wanted 7k outstanding

Options
Pete.g
Pete.g Posts: 759 Forumite
First Post First Anniversary Combo Breaker
in Loans
Hi there,

I'm wondering which is the best way for me to go to get 10k to spend on a new car.

This is my situation:

I have a 7k loan outstanding
I have 5k saved
And I am wanting 10k to spend with one monthly payment, i'm not wanting more than one loan going out a month.

The 7k outstanding is with Alliance and Leicester, and i'm paying around £220 a month back. I would like to keep the repayments similar.

Anyone have any suggestions as to what would be the best thing for me to do in order to have 10k to spend?

Thanks,

Pete.
I'll get me coat!

Comments

  • Robert_Sterling_3
    Robert_Sterling_3 Posts: 7,112 Forumite
    Options
    Perhaps the best thing would be to save another 5K.
    ...............................I have put my clock back....... Kcolc ym
  • Pete.g
    Pete.g Posts: 759 Forumite
    First Post First Anniversary Combo Breaker
    Options
    LOL now why didnt I think of that. Not practical at we have just moved house and I have lots to do so no spare money.

    Pete.
    I'll get me coat!
  • MsChievousness
    MsChievousness Posts: 59 Forumite
    Options
    You could try speaking to Alliance and Leicester. Perhaps they could loan you the extra £5K and extend the length of your loan at the same time?
    I have to get back to work, when I stop rowing the slaveship goes round in circles.
    :o
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Name Dropper First Post First Anniversary
    Options
    MsChievousness wrote:
    You could try speaking to Alliance and Leicester. Perhaps they could loan you the extra £5K and extend the length of your loan at the same time?
    That's not very "money-saving" is it MsChievousness? Bearing in mind that the additional funds are to be spent on a depreciating asset.
  • MsChievousness
    MsChievousness Posts: 59 Forumite
    Options
    Probably not, YorkshireBoy, but it is one way of getting the extra £5K. It depends how quickly the money is wanted and whether they can wait to save another £5K (which is a great amount to have saved up!).
    I have to get back to work, when I stop rowing the slaveship goes round in circles.
    :o
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards