Car loan - need to have flexible repayments

[Louise77]

Hi,

I need 10k for a new car in the next couple of weeks, I was going to go for tesco loan, but it's a bit complicated.

Basically, I will be able to pay off larger (400+) amounts in the first six months of the loan, but after that I willk only be able to pay off smalle amounts.

Whats the best way to do this - was thinking of getting a Rabodirect Credit Account - take out the 10k, and pay off what I can in the first 6 months. Then take out tesco loan with small repayements a low interest rate to pay off remaining credit account?

Thanks a million for your help folks
L

 

[soy]

Get out a loan with no early repayment penalties. Agree the minimum payment as the amount that you can pay in 6 months time. Until then pay off the minimum + extra every month. If your circumstances change again in the future you can always up the repayments again.
Most likely means you need a variable rate loan, as fixed loans almost always have early repayment penalties. Verify this in the T&C before signing anything.

 

[oldtimer]

Are you a member of a credit union? They are flexible and usually offer special rates for car loans. In your circumstances they are the best option.