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Personal loan for £6000? Where is the cheapest?
As above really, ideally over 5 years maybe consider 3.
TIA chopper |
nationwide, take it over the maximum term, and make extra payments.
jamo :) |
www.moneysupermarket.co.uk search here
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I go to moneysupermarket first. I Found Cahoot (Flexible or Fixed) and Abbey best.
Northern Rock adverstised a great 'typical' rate but the actual rate was much higher. |
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Cahoot 5.7 %
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Another thumbs up for Cahoot, used it to my the Mrs. her car
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cahoot is flexible unless you willing to pay base rate plus 1%
check your heads guys this meens that your loans apr could quite easily increase to over 20% and you would still have to make payments for term as they offer zero flexibility. you cant settle early (without hefty penelty) you cant make extra payments (without incurring upto 3 months worth of interest), and you cant settle early (ever). nationwide offers a fixed apr of 5.9% with full flexibility. nuff said. jamo :) |
Thanks for your replies peeps, nationwide looks a strong favourite at the minute although abbey are pretty competitive.
J4mou - you know your stuff :D ;) cheers chopper |
good thread
i need a 6k loan in the next few weeks to set myself up in self employment i was considering cahoot due to there flexible payments |
www.uswitch.com came up with....
Northern Rock Fixed Personal Loan £114.50pcm @5.6%* Total Repayable £6,869.97 and no early settlement penalty. |
northern rock, offer a *typical* apr, the only way you will get the apr that they specify as the lowest apr is if you have a credit history they like! ie: they reserve the right to give you a higher apr when they like to. (im guessing most of the time)
jamo :) |
Mickey, mind if it's a personal loan you're going for it would probably be advisable to say it's for a car of similar 'asset' as not many banks will lend you money for a business venture/share purchase, etc. I know at least 5 big high street banks this applies to
Just a thought :) |
Originally Posted by j4mou
cahoot is flexible unless you willing to pay base rate plus 1%
check your heads guys this meens that your loans apr could quite easily increase to over 20% and you would still have to make payments for term as they offer zero flexibility. you cant settle early (without hefty penelty) you cant make extra payments (without incurring upto 3 months worth of interest), and you cant settle early (ever). nationwide offers a fixed apr of 5.9% with full flexibility. nuff said. jamo :) |
Originally Posted by Jap2Scrap
My cahoot loan is 5.6% fixed. Only drawback is that I can't make early payments, but with all the will in the world I wouldn't bother to do that anyway. :D
or does it just say you pay us 5.6%? jamo :) |
Originally Posted by j4mou
cahoot is flexible unless you willing to pay base rate plus 1%
check your heads guys this meens that your loans apr could quite easily increase to over 20% and you would still have to make payments for term as they offer zero flexibility. you cant settle early (without hefty penelty) you cant make extra payments (without incurring upto 3 months worth of interest), and you cant settle early (ever). nationwide offers a fixed apr of 5.9% with full flexibility. nuff said. jamo :)
Originally Posted by cahoot
11. Early Settlement
If you pay off your loan before your fixed rate loan is due to end, you will be required to pay the outstanding balance together with the interest upto and including your next payment date. On your request we will inform you of the amount required to pay off your cahoot fixed rate loan. You must pay the amount by DD. APR 5.9% fixed |
Don't use Lloyds TSB, they want £141 per month, on a 6k loan which if you take now, ur first payment isn't till Feb 05 :eek::eek:
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Originally Posted by Langy
Mickey, mind if it's a personal loan you're going for it would probably be advisable to say it's for a car of similar 'asset' as not many banks will lend you money for a business venture/share purchase, etc. I know at least 5 big high street banks this applies to
Just a thought :) which is why im spending 6k on a suprise second hand car for my GF this christmas :D cant have her walking to work in this day and age with all these muggers and rapists running around the streets |
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