Getting a loan but!

HAz · 24 Jan 2007 at 13:23

Do I wait till I get paid? I currently have about £1.50 in my account and im due to be paid this friday for around £850, the bank should know this but cus loans work on a computer says no basis, would it be a better idear just to wait till friday?

Im planning on getting a 5k loan to get a new pc, pay of some debt and go on holiday this year.

thxs

gjrc · 24 Jan 2007 at 13:25

a loan is not a good idea for a holiday tbh, but its your decision.

i dont think credit checks are based on what is in your account at the current time.

HAz · 24 Jan 2007 at 13:26

gjrc said:
a loan is not a good idea for a holiday tbh, but its your decision.

i dont think credit checks are based on what is in your account at the current time.

The main brunt of the loan is a 2k pc 700 on a credit card and 1.1k to my dad.
The holidays about £400.

Shifter_Hull · 24 Jan 2007 at 13:26

no if your with the bank they should see how your salary gets paid
and the balance in your account should have no bearing to do with the loan

the only suggestion i can make is shop around for the money your wanting to borrow
make sure you get the best interest rates possible

daveyj27 · 24 Jan 2007 at 13:28

HAz said:
Getting a loan but!

Why, what's wrong with the one you were born with?? :confused:

"andy" · 24 Jan 2007 at 13:31

daveyj27 said:
Why, what's wrong with the one you were born with??

he met purple aki in an alleyway

Samtheman1k · 24 Jan 2007 at 13:31

smoove said:
Getting a 5k loan to get a 2k pc is a stupid idea, when you can get the same spec in about 6 months time for about £800 i bet.

If you waited another 6 months, then it would be £400. Actually, if you waited 2 years, it would probably only be about £150. Actually, if you just didn't buy one, then it would be £0!

daveyj27 · 24 Jan 2007 at 13:36

andy8271 said:
he met purple aki in an alleyway

LMFAO!!!!!!!!!

HAz · 24 Jan 2007 at 13:38

smoove said:
Getting a 5k loan to get a 2k pc is a stupid idea, when you can get the same spec in about 6 months time for about £800 i bet.

You dont get anything when your always wating for the price to drop, Ive been buying pc hardware long enough to know that.

daveyj27 · 24 Jan 2007 at 13:40

HAz said:
You dont get anything when your always wating for the price to drop, Ive been buying pc hardware long enough to know that.

Indeed, but taking out a loan for a material item that drops in value as quickly as a PC isn't the greatest idea mate.

Can't you wait and save up?

oweneades · 24 Jan 2007 at 13:47

daveyj27 said:
Indeed, but taking out a loan for a material item that drops in value as quickly as a PC isn't the greatest idea mate.

Can't you wait and save up?

Indeed!

Why not look around and see if any of the major sites are doing 0% finance on purchases over a certain value (buy now pay next year idea). That way you still get your pc yet you are not tied to a loan. As long as you pay off the finance before the period of 0% is up then you will incur no finance charges) - save say 250 a month and pay off in 8 months.

Sorted.

HAz · 24 Jan 2007 at 13:48

daveyj27 said:
Indeed, but taking out a loan for a material item that drops in value as quickly as a PC isn't the greatest idea mate.

Can't you wait and save up?

Not realy no

Put it this way I HAVE! to get a loan as the intrest i pay on my CC is about £35 a month, so that has to go. I also owe my dad £1100 he needs it now!
The holidays been booked and should come to about £600 after spending.
So realy all I need is a 3k loan but im thinking **** it i realy need a new pc as this one was given to me and it suck bad.

I know I shouldnt but for the past 3 years i havent spent a penny on my self, since i moved out its hard to afford nice things.

Oh well i know i can afford the outgoings on the loan but we shall see.

Samtheman1k · 24 Jan 2007 at 13:56

HAz said:
I know I shouldnt but for the past 3 years i havent spent a penny on my self, since i moved out its hard to afford nice things.

But how do you know you'll be able to afford the loan?

EDIT: For 5k, you're probably looking at around £150-200 per month, depending on term and rate. It's not cheap by any means.

caff · 24 Jan 2007 at 13:56

Seriously is it so hard?

1. Pay off your existing debts
2. Save money til you're 'in the black'
3. Buy PC
4. Go on holiday

You don't need a 2 grand PC to live and breathe.

If I were broke (and I was once) the last thing on my mind was getting into debt and blowing it on material possesions.

iPWN · 24 Jan 2007 at 14:09

daveyj27 said:
Indeed, but taking out a loan for a material item that drops in value as quickly as a PC isn't the greatest idea mate.

Can't you wait and save up?

Quoted for truth tbh...

jcb33 · 24 Jan 2007 at 14:17

smoove said:
Getting a 5k loan to get a 2k pc is a stupid idea, when you can get the same spec in about 6 months time for about £800 i bet.

I know that fealing, Spent £2000 of my savings (Granted £400 was on the monitor) for a new pc in April, then got one almost same spec second hand for £400 in August.... Gutted...

Jest3r · 24 Jan 2007 at 14:35

2k on a pc? that's pretty expensive.... even if you went for a seriously top end one including a nice TFT....

I'm sure you could find something a lot more worthwhile in terms of money....

I agree consolidating the debt is a good thing, and sometimes terms of interest can make it more economic to go slightly higher rate over the same time period.... but i'd seriously say against paying for holiday and computer with it,

2k loan paid off over 12 months would be a lot more straightforward....

try shifting the credit card balance to a 0% interest credit card with a different provider.... that'd shift some payment

HAz · 24 Jan 2007 at 14:42

Well thanks for the advice guys ill let you know how it goes