Wheres the best place to get a loan?

Banned 12 replies
Found 8th Oct 2008
who has the best rates currently?



Gonna get a new car but rather than go with finance I'm gonna get a straight loan and do it that way as I always find it cheaper...feel free to prove me wrong though...


Looking at probs £4K to £5K...dependent if I can get a better rate on 5K than I can on 4K

Currently seems Barclays is the best, which surprised me, previously went with Cahoot and the rate was brilliant paying back £440 on top of a £4K loan over 3 years


Anyone help on this one cause this aint my thing?!

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12 Comments

I'd say wait untill the bank crisis stabilizes, you may get a better variety of offers. Again it's probably a case of how quickly you need the car.

If you are lucky enough to be a member, the "Bank of Mum and Dad" usually have very good rates...:-D

Original Poster Banned

kemo;3144403

I'd say wait untill the bank crisis stabilizes, you may get a better … I'd say wait untill the bank crisis stabilizes, you may get a better variety of offers. Again it's probably a case of how quickly you need the car.


I have a runner but its soon gonna end up with me fire bombing the piece of ****

basically...I'm sick of it so sooner the better

callmejoe;3144502

If you are lucky enough to be a member, the "Bank of Mum and Dad" usually … If you are lucky enough to be a member, the "Bank of Mum and Dad" usually have very good rates...:-D


out of the question...nice idea, but I dont like borrowing money off people...business is business and all that

you'll need to look around yourself - 2 people can apply for the same loan and get totally diferent rates.

answer - DONT!

the way the credit crunch is now, its stupid! use what you until you REALLY REALLY need a new one. theres a thread on here somewhere (ill try to find it) about cars etc and how to buy

I work for LTSB so i am a bit bias but we are the no1 provider for loans. Before i started working for the bank i saw any type borrowing as a no no but for some people it can save them money :thumbsup:

Typical apr as of yesterday was 72%, they price match, allow repayment holidays, daily interest-not front loaded so if you wanted to pay it off early you wont be charged rate of the full loan, a lot of banks do that and its wrong. Same day funds also available :thumbsup:

What car you after?

The car market is suffering so you might get a good deal on one

Original Poster Banned

red_dwarfer;3145023

What car you after?The car market is suffering so you might get a good … What car you after?The car market is suffering so you might get a good deal on one




Dunno for defo but thinking 206cc...can be picked up for £6 - £8K at mo for good condition and I loved my 206 (RIP)

Banned

DONT buy a 206cc

I spent years selling them - they break - LOTS. although not as much as 307cc's

Car finance gives you different rights than traditional loans as the agreements are regulated. If you bargain hard enough you can get the payments down to a similar amount.

Focus on the payment and the total payable NOT the APR as it can be misleading.

Original Poster Banned

dimebars;3145640

DONT buy a 206ccI spent years selling them - they break - LOTS. although … DONT buy a 206ccI spent years selling them - they break - LOTS. although not as much as 307cc'sCar finance gives you different rights than traditional loans as the agreements are regulated. If you bargain hard enough you can get the payments down to a similar amount.Focus on the payment and the total payable NOT the APR as it can be misleading.




REALLY? thats the first time anyone has said anything bad about them to me and my cousin works in the industry and my uncle works for Peugeot :?

yeah..I agree I always look at total payable..

Friends of mine - who work in a bank and get REALLY good rates for loans - have been buying cars recently and in each case the car dealer was giving the best rate

HOWEVER they don't know how much they could have cut off the cost of the car if they'd just wandered up with a handful of cash from the bank loan

Banned

Dude try [url]www.moneysupermarket.com/loans[/url] for the best rates. However the advertised rate will not be the rate they give you, as this will be based on your current circumstances and credit rating.

I got a car loan last year, and found that the best rate for a loan was my own bank, so always worth approaching them for a decision. They know how you repay better than anyone else.

I did, however, finally got a bank transfer from my credit card at a fixed rate for the length of the balance, which was way lower than the rate of the bank loan I had been offered, just depends if you have the credit limit available. (Bank offered me 11.9%, credit card was 6.9%) good thing about the credit card is I can pay off more if nescessary when I feel like it :thumbsup:

Oh check out [url]www.fool.co.uk[/url] as well
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