# Looking for a loan



## vickky453 (Feb 27, 2009)

Wondering if anyone could help

Im looking for a loan, but finding it a bit hard. Its only for £3200, I would like to be able to pay it back ealry, or pay more off than just the monthly payments. 24month term, as low apr as possible please:lol:


----------



## bigmc (Mar 22, 2010)

Try Zopa.


----------



## vickky453 (Feb 27, 2009)

Have you ever used them, or know anyone who has? 9% !!


----------



## amiller (Jan 1, 2009)

You're best bet is to put it on a credit car. There are loads that are 18months+ at 0%apr and of course, you can pay as little or as much as you like each month. Worst case scenario is that after 12//18m you have to transfer balance to another 0% credit car. FOr loans as small as £3,200 it is all I would recommend for someone half savvy with money. :thumb:


----------



## bigmc (Mar 22, 2010)

vickky453 said:


> Have you ever used them, or know anyone who has? 9% !!


Yes I have, no early repayment fees and no overpayment fees. Really easy to use, I now feed money back in to them.


----------



## Avanti (Jan 17, 2006)

vickky453 said:


> Wondering if anyone could help
> 
> Im looking for a loan, but finding it a bit hard. Its only for £3200, I would like to be able to pay it back ealry, or pay more off than just the monthly payments. 24month term, as low apr as possible please:lol:


On the whole it is still best to deal via your bank, the 'small' amount makes little difference in the monthly, when you sign up you actually sign for the pricipal and interest, so there are no early repayment charges, although sometimes they will waive an amount of interest. Should cost you in the region of £160 per month. *Only use a credit card if you are very sensible with money*


----------



## slim_boy_fat (Jun 23, 2006)

As an ex-banker, you should never prefix _any_ sum of money with the words "just" or "only"...........


----------



## Ravinder (Jul 24, 2009)

Compare and shop around. Go on moneysupermarket.com and look what's on offer. With any loan you can pay it off earlier but the company may charge you some interest, usually around 58 days interest to settle the loan. It you can always just take the loan over a shorter period of time do you're paying off more each month.

Apr on a loan of 3k may be fairly high to be honest. General rule of thumb is more you borrow, less interest you pay. 3k is generally a small loan so most lenders may charge you a higher rate of interest.


----------



## maestegman (Mar 3, 2011)

slim_boy_fat said:


> As an ex-banker, you should never prefix _any_ sum of money with the words "just" or "only"...........


Sage words.


----------



## vickky453 (Feb 27, 2009)

slim_boy_fat said:


> As an ex-banker, you should never prefix _any_ sum of money with the words "just" or "only"...........


Difference is, Im not a banker, so can handle money properly  ( I joke)


----------



## vickky453 (Feb 27, 2009)

And the credit card thing, I do have a card with 3.5k limit, but got it in august, so wouldnt get the full 18 months


----------



## slim_boy_fat (Jun 23, 2006)

vickky453 said:


> Difference is, Im not a banker, so can handle money properly  ( I joke)


I had the good sense to get out of the profession 20-odd years ago - before Bankers became salesmen [and gamblers.......:devil: ] :wave:


----------



## Derekh929 (Aug 28, 2011)

Have you looked at Nationwide or Clydesdale had a flexi loan at higher rate


----------



## PrestigeChris (Nov 17, 2009)

vickky453 said:


> And the credit card thing, I do have a card with 3.5k limit, but got it in august, so wouldnt get the full 18 months


i would ring your provider and ask what offer they can do you as they are desperate to keep customers.

If not cancel that one and apply for a 0% on purchases card.

M&S are doing 15 months at the minute. :thumb:


----------



## R7KY D (Feb 16, 2010)

^^ That one 

Or Barclaycard are doing 22 months on balance transfer


----------



## Pezza4u (Jun 7, 2007)

I would go with Barclaycard TBH, I got one when they were doing 20 months 0% to transfer the debt from my other cards on and had no issues with them. Just buy what you want or transfer the cash to your bank if they allow it and cut the card up :thumb:


----------



## PrestigeChris (Nov 17, 2009)

22 months is brilliant, that means in theory you could get 15 months on purchases now then at the end of that transfer it to 22 months. thats cheaper than getting a loan lol. 

I know its been said about being sensible with cards but if you are then you can really be money smart with cards!


----------



## Claireeyy (Jul 20, 2009)

vickky453 said:


> Difference is, Im not a banker, so can handle money properly  ( I joke)


Really? They why are you finding it hard to get a loan?  Jokes

Could try Lloyds TSB, not sure if you have to be a customer though but I have never had any issues with them. When I applied for a loan on line with them it was approved and the money was in my account with in 10 seconds off clicking "apply" (loan was a bit less than what you are after)


----------



## The Cueball (Feb 8, 2007)

The whole loan/credit system is a f*** joke....

I have never had any credit - luckily enough not to need it...so I have no, or little credit score....which is the golden number for modern UK... 

So I have done a few things in order to "show up" and "build" my score up...and I am now at 980 - whatever that means...

Fast forward to last week, I was thinking about buying a new car, and thought, well I use someone else's money instead of mine for a change....

I was after 5k...paid back within a year...through my bank, which I have been with for over a decade....and I was turned down....so I phoned them and asked for the money they owe me on my credit card, due to an overpayment...they were not too happy with that! :lol:

The whole credit rating, and decision making is a farce...and IMO, one of the reasons the Uk is in such a bl00dy mess...

As long as Mr and Mrs Jeremy Kyle guests pay the minimum amount each month, they have great credit...nothing to say they only earn £10,000 a year and are in debt for £40,000... :wall:

Anyway...that was a needed wee rant......<breathe>

:lol::lol::lol::lol:

:thumb:


----------



## SarahAnn (Apr 6, 2011)

I agree Cueball. I haven't had a car loan for about 20 years and we paid our mortgage off too so the guys on Jeremy Kyle will have a better credit rating than i do. I bet my credit rating is in the gutter due to not having borrowed for so long. Bonkers. It seems the wrong way around to me.


----------



## vickky453 (Feb 27, 2009)

Claireeyy said:


> Really? They why are you finding it hard to get a loan?  Jokes
> 
> Could try Lloyds TSB, not sure if you have to be a customer though but I have never had any issues with them. When I applied for a loan on line with them it was approved and the money was in my account with in 10 seconds off clicking "apply" (loan was a bit less than what you are after)


Like cueball said, Im bored of spending my own money :lol:

I dont think im on good terms with lloyds tsb tbh, I walked out of a job there after 2 months, and have just cancelled everything I have with them!

Might look at the CC thing again


----------



## The Cueball (Feb 8, 2007)

SarahAnn said:


> I agree Cueball. I haven't had a car loan for about 20 years and we paid our mortgage off too so the guys on Jeremy Kyle will have a better credit rating than i do. I bet my credit rating is in the gutter due to not having borrowed for so long. Bonkers. It seems the wrong way around to me.


Yip...

As I said in another thread...I managed to get one of the captial one "credit builder" cards.... and I got a £100 limit! :lol:

I had to phone and explain that wasn't enough to fill my petrol tank, and after answering 400 questions, they took a "chance" and moved it to £150!!

wow...

I think the real issue is that they can't make money out of sensible people, the ones that can use credit to their advantage, and pay it off every month, so they don't want them...they go after people who they think they will get interest charges against...and dare I say it......push them down a debt route....

I have a mate (well I don't talk to him much now) that has went into a trust deed (IVA)....for.....over £60k.... he only earns £15k...

How the h£ll was that even possible!!!!!!!!


----------



## SarahAnn (Apr 6, 2011)

I agree. Have you noticed the new ads on tv for loans secured against cars? They make it look so simple. I think one interest rate was 299% !!
Worrying that some people might go down that route and there seems to be nothing stopping these loan sharks


----------



## The Cueball (Feb 8, 2007)

Yeah I saw them too....may phone and see how much they will lend me based on the XKR... :lol:

It's those loan til pay day ones that really get me... 4200% APR...a very nasty spiral to get caught up in....

The real thing is though, it's a shame people have to even go down that route...and think that is their best option...




Oh, and sorry OP for this complete barging in and taking your thread O/T


----------



## vickky453 (Feb 27, 2009)

No I completely understand, For example, i only need 3200 , will be 21.2% through my own bank. Knock it up to 4500, its 17.9% ! They just want you to take more credit out :lol:


----------



## PrestigeChris (Nov 17, 2009)

over 7500 you can get 6.2%!! madness


----------



## Bero (Mar 9, 2008)

The Cueball said:


> The whole credit rating, and decision making is a farce...and IMO, one of the reasons the Uk is in such a bl00dy mess...


Too true - it's not a 'Credit rating', it's a 'how profitable is this customer going to be if we give them some cash' rating!

When interest rates were good i used to use interest free credit cards and at the end of the 12-18 months pay them off in full on the due date or shift them to another card. It was good as all my work expenses when on my personal credit card and could build up to the limit quite quickly. To start with credit limits went up and up and up! Then they realise you can manage money and have no intention of letting them catch you out and slapping you with a 20%p.a.. From that point the new card limits got really small and not worth your time.


----------



## Bero (Mar 9, 2008)

The Cueball said:


> It's those loan til pay day ones that really get me... 4200% APR...a very nasty spiral to get caught up in....


Martin Lewis from Money Saving Expert did the calculation - borrow £100 from Wonga.com (4200%apr) and don't pay anything back. How long before it exceeds the US National debt ($14T iirc).....the answer - LESS than 7 years!!


----------



## The Cueball (Feb 8, 2007)

Bero said:


> Martin Lewis from Money Saving Expert did the calculation - borrow £100 from Wonga.com (4200%apr) and don't pay anything back. How long before it exceeds the US National debt ($14T iirc).....the answer - LESS than 7 years!!


Ouch...really?!?!?!!?

That is shocking.......

:wall:


----------



## justina3 (Jan 11, 2008)

The Cueball said:


> Ouch...really?!?!?!!?
> 
> That is shocking.......
> 
> :wall:


yep and heres how he did it

http://blog.moneysavingexpert.com/2...national-debt-over-14-trillion-after-7-years/

in fairness to him though he did state this quite clearly "You CANNOT borrow for a year with Wonga, its a short term lender".


----------



## Avanti (Jan 17, 2006)

SarahAnn said:


> I agree Cueball. I haven't had a car loan for about 20 years and we paid our mortgage off too so the guys on Jeremy Kyle will have a better credit rating than i do. * I bet my credit rating is in the gutter due to not having borrowed for so long. * Bonkers. It seems the wrong way around to me.


I think that is a falacy, paid my car off when I purchased it, and been 2yrs mortgage free, applied for a card to use with the android app store and small purchases, they gave me a limit of £8350  Naturally I told them to reduce it to something sensible


----------



## Bero (Mar 9, 2008)

The Cueball said:


> Ouch...really?!?!?!!?
> 
> That is shocking.......
> 
> :wall:


Yeah!

Borrow £100 and make no repayments
After 1 year Owe £4,200
After 2 years Owe £180,000
After 3 years Owe £7,500,000 (£7 million)
After 4 years Owe £315,000,000 (£315 million)
After 5 years Owe £13,000,000,000 (£13 billion)
After 6 years Owe £557,000,000,000 (£557 billion)
After 7 years Owe £23,500,000,000,000 (£23.5 trillion)


----------



## s2kpaul (Jul 27, 2006)

How true, i got told off for paying my credit card back before month end. The bank said i can pay off the min amount per month if i want. lol Wonder why. 



Easiest way was to take a loan with co-op wait 8-12 month then pay it off to avoid the fee thing on settlement paying .


----------

