deano119
Member
Registered: 17th Apr 06
User status: Offline
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Im looking at getting a loan for a new car in the summer, im only 19 amd still living with parents and i dont want to get completley stitched on interest!
Has anyone got any suggestions of where to go and whos best? Have many of you taken out loans for a car?
Cheers, Dean.
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Scotty_B
Member
Registered: 11th Jun 03
Location: East Kilbride
User status: Offline
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egg.com or nationwide seem to be the best.
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SAL
Premium Member
Registered: 19th Dec 05
Location: Radlett, Hertfordshire
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was tempted @ 1 point but glad i didnt ! if its a new car goin 4 good money than yea but if its to mod a car dont bother you will prob regret it !
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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How much are you looking at borrowing??
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ed_jones
Member
Registered: 23rd Mar 03
Location: Wrexham / Shropshire Border
User status: Offline
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what car is it?
i have thought about this for a astra gsi mk 4
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richysport
Member
Registered: 15th Apr 05
Location: Flintshire, north wales
User status: Offline
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dont do it just save up loans are som hard to get rid of trust me
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Depends how much you want to borrow & over how long & to buy what!! You dont want to end up paying for a car for 3 years after you sold it because it seemed a good idea at the time.
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Rob H
Member
Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
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www.moneysupermarket.com
Main thing you want to look at is each companies approval ratings, and the final amount payable.
If you get a loan within your budget you won't have a problem. Just remeber that 3-4 years is a long time to be paying it off if you stretch your budget. Personally i'd try and save a wedge of cash if you can to either drop the payments, or have the loan over a shorter period  .
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Personally I wouldnt want to be paying a car any longer than 2 years.
My mate bought a Saxo as his 1st car, 5yr loan, he's still got the payments for it looming over him 4yrs & 2 cars later.
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deano119
Member
Registered: 17th Apr 06
User status: Offline
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Wel it would be for around 3000 over 2 years as i only intend having the car for 2 years, as said above i dont want to be paying for a car thats been sold on etc.
I can afford the repayments easily but just wanted a general opinion and experiences before i take the plunge.
Ive already saved a good chunk of money but to save the total fund would take ages and i simply dont want to wait until ive saved up all the money myself.
The car im still abit unsure, i think ive narrowed it down to astra coupe, bmw 318 or something VAG, fed up of corsas now!
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corsacrazygsi
Member
Registered: 14th Oct 06
Location: Glasgow City
User status: Offline
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If you already have some money to put towords a new car then u mite get a gd deal. shop around and try n play with the dealers! where am gettin a c2 from reg vardy but theres an arnold clark rite next to it and tehy were offering me better deals on diffrent cars !
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Daniel_Corsa
Premium Member
Registered: 21st Apr 04
Location: Wigton, Cumbria
User status: Offline
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If you can't afford it don't do it!
I don't want to borrow money until I get a house, only thing worth having to lend money for.
Save you'l appreciate it more at end of the day.
April '06' Corsasport Feature Car  | Aug '08' Total Vauxhall Feature Car | Spring '09' Fast Car Feature Car
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jamesvalver
Member
Registered: 21st Feb 03
Location: Bury St Edmunds, Suffolk
User status: Offline
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i got my £2k loan with halifax. its over 36months and i pay back a total of £2473
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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Nationwide tends to be the best - fixed rate and same rate for everyone. What ever they say your repayments are, they'll stay for the duration. It makes budgeting easier/
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Rob H
Member
Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
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quote:
Originally posted by deano119
Well it would be for around 3000 over 2 years as i only intend having the car for 2 years, as said above i dont want to be paying for a car thats been sold on etc.
Sounds fine to me, youve saved loads, and are fed up of waiting, which is fair enough. You'll pay an extra £400 in interest for the privaledge, but that's your call as to if it's worth it to you or not.
I think the majority of people have loans for cars these days, which is understandable, as it's a neccessity to most people  .
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davey_jack
Member
Registered: 28th Jan 06
Location: Horley, Surrey Drives: Clio 182
User status: Offline
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yeah dont do it mate it irritates the hell out of me sometimes!
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jamesvalver
Member
Registered: 21st Feb 03
Location: Bury St Edmunds, Suffolk
User status: Offline
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i didnt want to take out a loan untill i was looking for a house but due to my old insurance company not paying out for my claim, i needed a small loan to help me buy the car.
even tho i have spoken about it, i wont sell my car untill ive paid for it in full otherwise i will just be paying for something that i dont have.
i dont intend on getting another loan and i dont even have a credit card so that i cant get in the debt that way.
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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quote:
Originally posted by deano87
Nationwide tends to be the best - fixed rate and same rate for everyone. What ever they say your repayments are, they'll stay for the duration. It makes budgeting easier/
Yes
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