Car loan advice

If you have gone as far as applying with others then just stop now and leave alone for a few months.

Personally when 3-4% is available I wouldn't touch 7% Apr, at the loan amount you'll end up paying a significant amount of interest that just isn't necessary
 
That's fine, the way I personally look at it is if I can't get offered the rate I want by a bank there must be a reason, however minor it may be - usually the best thing for that is to wait a little while, reasses then if you're sure it's sensible (in this case probabation over) re apply a few months down the line.

If the banks have a good reason not to loan then, imo it's a good reason to reconsider what you are looking to do right now
 
iaind said:
Wait for a few months, just because your current one is on 116k, doesn't mean it's going to explode
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Indeed. Looks after it and theres no reason it won't last another 116K.

I took my first car from 100K to 150K and it was in better mechanical condition when I sold it than when I bought it. :p
 
rodenal said:
How many hedges had it visited prior to purchase then? :p
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I don't know, but at least one. It had certainly been stuffed at least once before I got my hands on it. :p

I think this car has been stuffed badly in the past as well, I'm just piecing that together. Not bothered because it has been repaired just fine. For example:

- I noticed that the headlights are different makes, so one of them has been replaced
- One of the front quarter panels has been re-sprayed because there is a paint lip on the inside of the wing (under the bonnet) - but it has been done very well
- Front bumper has different paint thickness to the other painted plastics (colour match is spot on though, unlike the back bumper :rolleyes:)
- Clips on the A pillar trims are missing (the ones designed to snap) and the airbags behind them are newer than the car
- Top section of the dash has been replaced because it wasn't attached properly with the lower clips (it is now) so the passenger airbag must have deployed too. And I imagine the driver airbag.

Detective acme! :p
 
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Funny that - I knew it had been smacked because:

It was owned by an idiot

Everything about it screamed "I've been hammered my whole life", even from the ad

:D
 
rodenal said:
Funny that - I knew it had been smacked because:

It was owned by an idiot

Everything about it screamed "I've been hammered my whole life", even from the ad

:D
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None of it happened when the previous owner had it, I know that much. It was whoever had it before her. :p

Not fussed anyway, its mine now and it is almost how I want it. Bring on January when it is having a load of stuff done all at once, and then it will be spot on! :)
 
OpenToSuggestions said:
Spoke to a few banks.
None want to lend me the funds as I am on probationary period for 6 months (permanent position).
Obviously car finance companies are willing to lend me the cash, but then at 6.9% it is no surprise.
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Im not surprised. If some one offered me a new job the last thing that i would do is take out a large personal loan. I probably get rid of 50% of the people that start for me within the first 3 months.

Given that you already have a car that will do the job saving the luxury for another day should be no hardship.
 
Yer you shouldn't really want to take out any large financial commitments when you're still on probation. Just wait.

p1RATE - If that's true, then unless you work in something like a call centre environment, then you really need to take a look at your recruitment process! Do you just pull in random people off the street? :p Bet your HR department love you. I've only ever got rid of 1 person and then extendend another probation.
 
Indeed, we certainly don't operate like that - I'd sooner not offer a position than give it to anyone that didn't seem both capable and the right fit. It takes so long to actually get someone in the door that to lose them again is a major setback

Regardless, the loan company stance us perfectly understandable imo
 
It is a pretty high attrition rate but I think its important to find the right people. I'd rather hold them to a high standard from the get go than keep some capable of towing the line. But then I'm small enough to do that still.
 
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