best loan deal

[suse17]

hi my husband has a personal loan die to finnish in the autumn our credit rating has been classed as fair but we realy need a new car the loan company we are with black horse are sending us letters to have more money from them and we dont know what is best way about this we need say 15000 for a new car and we would like sime spare cash for a holiday is it worth going with the same lennder and having a personal loan or having hp on a car and then trying to get a personal loan after that we do not own our home we are housing assosiation renting and both work full tims thanks in advance for any help

[Ethel]

You must be stark raving mad to borrow money for a holiday. It is not an essential and it will cost you a lot of interest to repay it.

And you do not need a �15000 car. If you have to borrow money for a holiday you can't afford such an expensive car. It's common sense.

The financial market is very unstable at the moment, and interest rates could rocket. Make sure any loan is low interest at a fixed rate, so it can't go up. Why not forget the loans and when you have paid off your current loan, save for a car and holiday.

[Finance Guy]

I concur with Ethels answer 100%

[tigwig]

couldn't agree with Ethel more. Why an earth do you need to spend �15000 on a car?! I thought I was extravigant because in the past I thought nothing of putting the odd thing on the good old credit card but of course these soon add up and now we owe �2000 on them which ye it could be alot more but it will take us ages to clear it. We have also increased our mortgage for the sake of a holiday that we couldn't afford to pay for and now I bitterlt regret all of these choices I made. Don't make the same mistake, you must be pleased that you are so close to paying your loan off, why not use the money that normally pays the loan to save up for a holiday if thats what you really want and forget about the car until you can afford one?

[RevFunk]

U must be mad

15k on a car which will be overpriced anyway and will be worth half that after 6 months.

Just save hard for a while and pay cash for a car 3 years old and save yourselves a fortune.