Hi All,
I have been saving with my wife for a couple of years for a house and we have over the 20% deposit saved up for the price range of houses we are looking for. Unfortunately, my car has just given up the ghost, and as i have a long commute to work, it's an absolute necessity that I get another one.
My question is, all else considered, if I take out a 20k car loan now, how would it generally affect my chances of getting a mortgage?
I understand that it's a secured loan, but just wonder what is the affect and what type of loan might work best (hire purchase from a car dealer or credit union car loan?)
Many thanks.