Tuesday 23 October 2007

Savings And Loan Sorted, Now To Find A Car

Thought I’d best post an update as I’ve finally found a suitable new savings accounts and also been accepted for a personal loan to buy that much needed new car.

I’ll start with the savings accounts. I found there was lots of choice. With interests rates going up a lot in the last year it seems savings rates are starting to catch up. I’ve opted for the Birmingham Midshires Online Saver at 6.41%. There were a few accounts offering similar rates but after reader the finer details that one suited me best, I’d certainly recommend it to anyone looking for a new savings account


On to my quest for a personal loan then and I have to say this was a lot more difficult. I checked my credit rating with experian last year so was pretty confident of being accepted. The tricky part was choosing the right loan, there’s so many out there.

Firstly I had to do some research as I’d never taken out a loan before and to be honest felt quite out of my depth. Guides on sites such as loan-guides and webcomparison helped me feel more confident and after using a couple of price comparison sites I applied for a £3,000 loan with Abbey at 7.9%.

The application went through really quickly and I should get the money in the next week or so. The next step then is to find a decent car, think I’ll hit Auto Trader first.

I’ll let you know how I get on…

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