finance and loans

[FUSION X16XE]

I want to take out finance to buy some new CDJs (DJ equipment) and i have tryed DJ finance direct (djfinancedirect.com) but they said i am not on the electoral roll? How can i get on this?

Also i the equipment i want is about £1200 worth, does anybody have any ideas like low interest loans or 0% credit cards?

Tbh i dont want a credit card but if its the best way to do it then ill have to

:confused::confused:

[Dod]

Ok I cant say for sure, but the electorial role means you're not registered to vote and so not liable for finance. They're worried you'll **** off and wont be found.

As for the load, I took out 2k and the total repayments are 2121.60.

[Jack]

How soon can you (realistically) pay it off? And how disciplined with money are you?

If you only need a few months, look for a 0% 6 month interest free on purchases card, but make sure you pay it off before that six months is up.

If you want a regular repayment at low interest OR if you'e a person who's unlikely to pay off a credit card until the last minute (by which time you realise you don't have enough money), or get tempted easily to spend more on it, get a loan. However, for an amount that small, a loan would probably quite a high rate of interest - if you DID choose a loan, get one where you can make additional repayments and has no early settlement fee.

You could also take out a loan for a larger amount to get a lower rate of interest, then pay most of it back straight off, for example take out £4.5k, stick 3300 into an ISA for a month, cream some interest then whack it back into the loan.

Alternatives, talk to your bank. If you're a decent customer and earn a decent wage, they may be able to offer you a cheap loan or overdraft to cover the amount.

Also have a look on moneysavingexpert for the best loan/credit card rates.

[Jack]

And as for the electoral roll, you need to contact your local council, as they're responsible for maintaining the local records. They usually send out forms prior to an election, or you can just ring them up and ask to be put on it, they'll sort you out with relevant forms etc.

[The Simps]

Pretty much as Razorjack said mate.

Personal loans normally start at £2k upwards and you pay a higher rate lower down the scale.

Personally I would try and find a credit card and then set up a regular DD for the repayment so it was like a loan, but as said above depends what you're thinking of repaying each month.

[Ben]

Cant you just save up and buy them? might take couple of months but then you will appreciate them more.

[Pistol Pete]

Agree with what most have said. A loan would be better than a credit card IMO, the intrest will be quite high on a credit card. And also if your not disiplined,the temptation is there!!

[The Simps]

Agree with what most have said. A loan would be better than a credit card IMO, the intrest will be quite high on a credit card. And also if your not disiplined,the temptation is there!!


He'd probably have to borrow £2k on a personal loan tho and the rate wouldn't be brilliant!

The EASIEST thing to do would be to just get yourself on the electoral register and use the DJ shops in house finance as long as its a decent rate.

[Jack]

Cant you just save up and buy them? might take couple of months but then you will appreciate them more.
^ That goes ahead of everything I said. lol

Credit should always be a last option IMO. I would say especially in this current economic situation, but sod the media scaremongering; if you need it, get it.

[Pistol Pete]

The misses got a £1000 bank loan over 12 months and the rate was ok!! I took out a £10,000 and paying back just over £12,000 over 5 years.

Agreed, first step get on the electoral register.

[FUSION X16XE]

How soon can you (realistically) pay it off? And how disciplined with money are you?

If you only need a few months, look for a 0% 6 month interest free on purchases card, but make sure you pay it off before that six months is up.

If you want a regular repayment at low interest OR if you'e a person who's unlikely to pay off a credit card until the last minute (by which time you realise you don't have enough money), or get tempted easily to spend more on it, get a loan. However, for an amount that small, a loan would probably quite a high rate of interest - if you DID choose a loan, get one where you can make additional repayments and has no early settlement fee.

You could also take out a loan for a larger amount to get a lower rate of interest, then pay most of it back straight off, for example take out £4.5k, stick 3300 into an ISA for a month, cream some interest then whack it back into the loan.

Alternatives, talk to your bank. If you're a decent customer and earn a decent wage, they may be able to offer you a cheap loan or overdraft to cover the amount.

Also have a look on moneysavingexpert for the best loan/credit card rates.


Im looking to borrow £1200 over 24 months

Im very disciplined with my money, i would save but i need them now as im being offered jobs left right and center hence the sudden need to get some decent gear.

Ive just been to my local branch and was told im still on a young persons account and thats why i have not been getting a credit score and i will contact the council and get the relevant papers.

Does anybody know anything about student loans?

cheers guys :thumb:

[Dod]

Are you a student?

[Andy_L]

I have recently taken out a 2K loan over 24 months and repayments are just over 100 quid a month. Not cheap but there you go.

Student loans in what sense?? I'm guessing you don't mean the University variety from the government.

[Ben]

Well surely if your being offered that much DJ work you can pay them off sooner than that, you will get raped wanting such low amount over such a long term.

[FUSION X16XE]

Yes Dod i am a student on a full time course (2days per week)

Ben I need to kit to be able to take them up on the work (Ive been offered monday, friday and saterday 10-12 on monday 9-1 friday and saterday) Thats why im trying to get the money.

Some body said i could get a student loan aout for anything? and pay stupid amounts like £5 per week? Is this pure verbal diarrhea?

[Dod]

Ok, well from what I know, if you're a student you get a loan and have no call to pay it back until you start earning money in a full time job, I say speak to your bank about it.

[tom_beverley]

I would be tempted to get a 0% purchases credit card, obviously for a long a period as possible. Then divide down the £1200 by how long the 0% offer is for (e.g. 6 months) and setup a direct debit for that (in this case £200 per month), cut the card up to prevent further spending and hey presto.

Student loan could be another option, more details here (http://www.studentfinancedirect.co.uk/portal/page?_pageid=53,1259548&_dad=portal&_schema=PORTAL). I got a £300 grant for my first year at university (part time) and that doesn't require paying back. Best thing you could do is give one of the advisors a ring and see what/if you are eligable for.

[The Simps]

Christ mate, 9-1 is a long set! lol

What you looking to buy? Pair of 1000s?

Sort the electoral roll out then try again with the shop finance mate. if their rate is crap there's plenty of DJ shops offering low finance rates and there prices are all comparable.

[Jack]

Some body said i could get a student loan aout for anything? and pay stupid amounts like £5 per week? Is this pure verbal diarrhea?
Student loans are for people on paid courses, not loans for students. If you've already paid your course fees (assuming you're on a course you paid for) you may have problems getting a student loan. In some cases, a portion of the loan may go direct to the educational facility to pay your fees - I know mine did when I did my HND, and I'm pretty sure the people I know at uni have done the same.

As for repayments, its done by earnings. I earn somewhere around £22k a year, so pay back £50 a month. Earn more, pay more; earn less, pay less. The payment schedules are available online. You only repay the loan once you're out of education and earning over £15k a year, BUT all the time it will be accruing interest (albeit at a very low rate).

TBH, as you're a student, go find a bank that offers student accounts with large overdrafts, or go with the shop finance, assuming its a static and low rate of interest. Most start off as 8% then smack it up to 29% after a few months lol

[Ben]

I earn somewhere around £22k a year, so pay back £50 a month.

Honestly? Sh!t man i thought you IT geeks earned £100k a year!

[Jack]

In 1999 we did, yes lol

I'm also a civil servant, so I get crap wages as every government refuses to give us respectable pay rises as a) they're too busy splooging the taxpayers money on their own wages and benefits, and b) they're too scared as joe public thinks that if we have a decent pay rise for once that the government is wasting money and will vote them out.

Yes, I'm looking for work elsewhere. Anybody want to employ a linux admin? lol

[FUSION X16XE]

NO! my thread! lol

Think ill go with the shop finance option, im on the electoral roll i checked on the net earlier? It seems i havent upgraded my account from a young persons account so i have no been making my credit score.

Yer Si 4 hours is long but its like to play in a bar, so its not like it will be in a club and has to be perfect so i can can get pissed at the same time lol Btw you have PM

[The Simps]

Btw you have PM


do i?
:confused:

[FUSION X16XE]

do i?
:confused:

Give me enough time to write it lol :thumb:

[craig green]

Yes, I'm looking for work elsewhere. Anybody want to employ a linux admin? lol

I see Facebook are in there London office.

[Jack]

Gakk, refuse to work in London.

Fusion, sorry lol

[FUSION X16XE]

Names Tom and ill let you away with it seems your admin lol