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Applying for my first loan ever this week

  • 13-03-2022 4:53pm
    #1
    DullSpark
    Registered Users Posts: 73 ✭✭


    I've had a credit card which I have seldom used apart from car rentals and things like that.

    This week I am going to apply for a loan to buy a car and the thoughts of it are freaking me out a little bit.

    I don't really need a loan but I would rather keep savings in my bank as I'm not a great saver and will have no choice but to pay back a loan.

    So I'm wondering should I take a loan of say 20k at a lower interest rate over 5+ years as opposed to 12k over 3 years. I plan on moving abroad in the next 2 years so wonder what the story would be paying it back. Can I just sell the car and pay back whatever is owed?

    I know pcp or hp aren't that easy to get out of but I'm just going to apply for a simple personal loan or finance through a garage.

    All advice is greatly appreciated!!



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