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  1. #1

    Short term loan to clear Vehicle PCP

    Can anybody tell me if it is possible to borrow a relatively high amount (c 20k) to clear a PCP on my vehicle for a very short period? I would expect to pay back within 1 month. The intention is to sell my vehicle for my next purchase at a better price than the existing dealership is offering. I would need to consider the higher sale value (c1500) with the cost and hassle of a short term loan.

  2. #2
    That would depend on your circumstances, but without a very high income, it's unlikely.

  3. #3
    Well you would need a decent credit file to get that amount, as zx81 says it depends on your income. You have any bad marks on your credit file.

    Apply for a loan and see what they offer, maybe your bank is a start or a lender advertising a decent rate. Be wary that you arent in any way entitled to the representative rate advertised by lenders.

  4. #4
    GeorgeAnogy
    Guest
    You'd be better selling it then buying with the money rather than a bridging loan


 

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