Markus
USER UNDER INVESTIGATION - DO NOT TRADE
Registered: 19th Nov 07
Location: Beverley - East Yorkshire
User status: Offline
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A little help on loans needed.
Basically i want to take a £1000 loan out so i can get myself a car and repay it over 3 years, i know the hacks of loans and what debt you can get yourself into.
I'm 18 and have no credit scoring so i cant get a loan because i have no history of repayments, even though i have a contract phone + car insurance etc.
Has anyone else had this problem and is there a way round it ? I'm 19 on the 1st of sep would that make a difference any help appreciated
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
User status: Offline
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£1k or £10k?
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Ian W
Member
Registered: 8th Nov 03
Location: Wirral, Merseyside
User status: Offline
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A grand over 3 years would cost you silly money, best of trying to put some money away each month, it will soon add up.
You would be seriously kicking yourself in 12 months with a loan like that.
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l15ter
Member
Registered: 1st Feb 08
Location: Berkshire
User status: Offline
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main thing is job 
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Markus
USER UNDER INVESTIGATION - DO NOT TRADE
Registered: 19th Nov 07
Location: Beverley - East Yorkshire
User status: Offline
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1k it can be more stretched over a wider period of time.
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ShEp
Member
Registered: 9th Aug 05
Location: Dingwall, Highland
User status: Offline
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Go and see your bank, talk over repayment terms,
Most lenders would see 1k over 3 years as a waste of time, they would rather lend you more
See your bank, 1k over 1year = £100 per month, = £200 interest
Thats roughly what a bank would offer you, maybe slightly less on the repayments
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stubbsy05
Member
Registered: 23rd Oct 02
User status: Offline
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Loan from parents? Uncle? Grand parents?
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Markus
USER UNDER INVESTIGATION - DO NOT TRADE
Registered: 19th Nov 07
Location: Beverley - East Yorkshire
User status: Offline
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Yea, ive been to my bank and because i have no credit histroy they cant lend me anything what so ever
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l15ter
Member
Registered: 1st Feb 08
Location: Berkshire
User status: Offline
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well your going to have to save
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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Famly loan
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stubbsy05
Member
Registered: 23rd Oct 02
User status: Offline
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tbh get a couple a store card and/or credit card. Start using them in small doses but pay them off as soon as you have used them. This will help build up your credit rating.
Also make sure your on the electoral role.
I'd ask my parents if I was you. Explain you can setup a standing order to credit their account each month.
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AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
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1k over 3 years!!!!!
something like £30 a month...
The 1k car will be worth sweet FA in 3 years, and you'll have moved on from it,, and still have a piddley loan hanging about.
For 1k it isnt worth the hassle of a loan. Surely you can pester someone for a shortterm loan
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joes_1.4_16v_sport
Member
Registered: 15th Mar 07
Location: Preston, LANCS
User status: Offline
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I got 3k over 3 yrs...
7.9% NORTHERN ROCK. FIXED.
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