bigdan
Member
Registered: 4th Jan 07
Location: Jarrow (Newcastle)
User status: Offline
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you have like a insurance incase you cant pay your loan it goes on hold for 3 months or somthing like that just a bit of a fall back
but make sure ya can lump sum pay it off if ya get me
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will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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yh I see
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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Payment protection insurance isnt worth the paper its printed on.
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Ollie_B
Member
Registered: 1st Jun 08
Location: North Wales/Wirral
User status: Offline
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You'll be bored of driving after 10 months or so, or you'll want a faster car, but you will still be paying off a £4000 loan for a car you don't want anymore. So personally i'de buy a cheap car and save up while you've got a crap car for a nicer one, then your mobile and still saving for something.
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sampayne21
Member
Registered: 3rd Sep 08
Location: Sidcup Kent Drives: BMW E46
User status: Offline
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quote:
Originally posted by will_doyle
If you live with parents they wont give you a loan?
all depends on your financial situation, ov if your living at home, the banks not gonna get there money back if you cant pay, if you have your own place, your credit rating will be higher, therefore more chance of getting a loan.
just dont even bother with it all, till your a bit older and wiser
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John
Member
Registered: 30th Jun 03
User status: Offline
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I'm not sure about that, I live with my parents and afaik my credit rating is not far off as good as you can get.
If you have your own place you'll probably have less spare cash and the house doesn't mean anything unless it's a secured loan.
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BarnshaW
Member
Registered: 25th Oct 06
User status: Offline
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i can get a loan living at home....
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John
Member
Registered: 30th Jun 03
User status: Offline
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I've never had a loan as such, credit cards, car finance etc though and never been knocked back for anything.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Any loan ive had ive paid it off early, i.e. 4 yr term paid in 2yrs etc
Apparently this isnt good for a credit rating as they also rate you as how good your going to be at making them money, if you pay back on time, never in neg credit theres a good chance you'll be refused future borrowing??
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dean101287
Member
Registered: 22nd Jul 07
Location: Cardiff
User status: Offline
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I own my own house. Dont think Iv got a very good credit rating though. Had a 20k loan and paid it off in 2 months  Think it went down a bit after that
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sampayne21
Member
Registered: 3rd Sep 08
Location: Sidcup Kent Drives: BMW E46
User status: Offline
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quote:
Originally posted by John
I'm not sure about that, I live with my parents and afaik my credit rating is not far off as good as you can get.
its not set in stone and alot of it is to do with your parents financial situation with the house, i.e if your house is blacklisted your screwed even if your really good with money.
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Jonny P
Member
Registered: 11th Dec 04
Location: Merseyside Drives: Civic Type R EP3
User status: Offline
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Dont get a 1.4 and i can guarantee you will use less petrol, insurance will come down and prices of the cars are (generally) cheaper.
Why dont you get a 1.2 sxi?
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DizzyRebel
Member
Registered: 2nd Jan 09
Location: Lincoln
User status: Offline
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I wondered why people give you so much stick on here but now i know why. This thread has comments from yourself in it that make you sound a complete idiot
You want a car now, yet you have gone 18 years without one - what difference will another year make?
You say you dont want a cheap runaround yet you cant afford anything decent anyway.
You say you cant save up for a car as you will just spend the money.
And finally you say you dont care about the implications of anything as you just want 4k in your bank.
Seriously are you braindead or just a little bit retarded? You cant afford a car, you cant save, you earn fuck all money yet you want the world and you want it yesterday... its people like you who end up in debt forever as you havnt got a clue about or have any respect for money.
Stop living in a dream world beyond what you can afford. Stop wasting your money on shit and save up for a car... cant stop wasting it? tough shit you cant have a car.
Your best bet would be a moped, get yourself one for £400, pay £200 to insure it with £15 a year tax and 100mpg... perfect for you to get you mobile. You dont NEED a car, you only want one. And im sorry but if you cant afford one you cant have one and you get the next best thing.
Think smart for once in your life and one day you might have enough money to buy something nice, but carry on with your attitude and you will be buried still owing the banks thousands
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oceansoul
Member
Registered: 19th Jun 06
Location: Sunbury, Surrey
User status: Offline
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what he said ^^
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will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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quote:
Originally posted by DizzyRebel
I wondered why people give you so much stick on here but now i know why. This thread has comments from yourself in it that make you sound a complete idiot
You want a car now, yet you have gone 18 years without one - what difference will another year make?
You say you dont want a cheap runaround yet you cant afford anything decent anyway.
You say you cant save up for a car as you will just spend the money.
And finally you say you dont care about the implications of anything as you just want 4k in your bank.
Seriously are you braindead or just a little bit retarded? You cant afford a car, you cant save, you earn fuck all money yet you want the world and you want it yesterday... its people like you who end up in debt forever as you havnt got a clue about or have any respect for money.
Stop living in a dream world beyond what you can afford. Stop wasting your money on shit and save up for a car... cant stop wasting it? tough shit you cant have a car.
Your best bet would be a moped, get yourself one for £400, pay £200 to insure it with £15 a year tax and 100mpg... perfect for you to get you mobile. You dont NEED a car, you only want one. And im sorry but if you cant afford one you cant have one and you get the next best thing.
Think smart for once in your life and one day you might have enough money to buy something nice, but carry on with your attitude and you will be buried still owing the banks thousands
Im sorry,
What is wrong with me borrowing £4000 from the bank, and them saying to me I have to pay back £100 a month... and be being able to pay that £100 a month?
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will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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For anyone who wants to help
hmm
maybe a credit card would be better?
Basically I want £4000 pound.
I bank with Natwest
I was looking at the Natwest Platinum Credit Card
It says
Our best ever 0% balance transfer offer
Pay 0% interest on your balance transfers for 15 months (2.9% fee - min £5) and 0% on purchases for 3 months.
So with that card would I be able to set it to a maximum of £4000? Just so I dont spend on crap.
And how I pay it back?
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DizzyRebel
Member
Registered: 2nd Jan 09
Location: Lincoln
User status: Offline
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Cards are worse, stop trying to borrow what you cant afford.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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You wont get a patinum credit card with 4k limit & 15 months interest free on purchases if you've not got a credit rating or a stable income.
The best advice for you is not to spend above your means, save up until xmas & buy a car for 500 quid.
Your seriously trying to punch above your weight yet your the only one that cant see it.
you want a 1.4 corsa sri......wait a few months save 100 quid a month, buy one for 500 or whatever & pay the insurance off monthly. Its the best thing you can do, dont get a loan until your earning enough not to have to worry about the repayments.
Seriously think about it!!
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DizzyRebel
Member
Registered: 2nd Jan 09
Location: Lincoln
User status: Offline
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quote:
Originally posted by will_doyle
quote:
Originally posted by DizzyRebel
I wondered why people give you so much stick on here but now i know why. This thread has comments from yourself in it that make you sound a complete idiot
You want a car now, yet you have gone 18 years without one - what difference will another year make?
You say you dont want a cheap runaround yet you cant afford anything decent anyway.
You say you cant save up for a car as you will just spend the money.
And finally you say you dont care about the implications of anything as you just want 4k in your bank.
Seriously are you braindead or just a little bit retarded? You cant afford a car, you cant save, you earn fuck all money yet you want the world and you want it yesterday... its people like you who end up in debt forever as you havnt got a clue about or have any respect for money.
Stop living in a dream world beyond what you can afford. Stop wasting your money on shit and save up for a car... cant stop wasting it? tough shit you cant have a car.
Your best bet would be a moped, get yourself one for £400, pay £200 to insure it with £15 a year tax and 100mpg... perfect for you to get you mobile. You dont NEED a car, you only want one. And im sorry but if you cant afford one you cant have one and you get the next best thing.
Think smart for once in your life and one day you might have enough money to buy something nice, but carry on with your attitude and you will be buried still owing the banks thousands
Im sorry,
What is wrong with me borrowing £4000 from the bank, and them saying to me I have to pay back £100 a month... and be being able to pay that £100 a month?
You say you cant save £100 a month now to go towards a car as you spend it on shit even though you have no outgoings, how the fuck are you expecting to have £100 left at then end of the month to make the repayments on your loan when a car is going to take up every last penny of your tiny income?
You say you pay no outgoings, so here's a mega idea: Save £300 a month for 3 months and you have £900 there to buy yourself a half decent 1.4 sport. Then you pay the insurance off monthly and you dont have £4000 hangining round your neck.
You dont need the loan, your just too damn lazy to save the money.
[Edited on 26-07-2009 by DizzyRebel]
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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quote:
Originally posted by Colin
Seriously think about it!!
I don't think this is something he is capable of doing TBH.
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oceansoul
Member
Registered: 19th Jun 06
Location: Sunbury, Surrey
User status: Offline
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tbh, its your life. Do what you want, you have asked your question, and we have given our opinions. Jus dont come crying on here when the debt collecters come round your house.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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My thinking is, its July now.....save £100 a month until December to prove to yourself that you can save up (because if you cant save up then this is a non starter obviously loan or no loan!?) By that time you'll have £500 saved up. December time car sales are on their ass, this gives you good leverage to step in & haggle a good price on a 1.4 sport or sri. You now know you can save up 100 a month no problem, the next step is insurance, you said you can get it for a grand, well pay it monthly & it should be less than £100, save a bit more a month for tax & mot when they come round. Sorted!! No loan for 4 years & you have what you want albeit a cheaper car - but as your 1st car you need to learn to walk before you can run.
Does that make sense??
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DizzyRebel
Member
Registered: 2nd Jan 09
Location: Lincoln
User status: Offline
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quote:
Originally posted by Colin
My thinking is, its July now.....save £100 a month until December to prove to yourself that you can save up (because if you cant save up then this is a non starter obviously loan or no loan!?) By that time you'll have £500 saved up. December time car sales are on their ass, this gives you good leverage to step in & haggle a good price on a 1.4 sport or sri. You now know you can save up 100 a month no problem, the next step is insurance, you said you can get it for a grand, well pay it monthly & it should be less than £100, save a bit more a month for tax & mot when they come round. Sorted!! No loan for 4 years & you have what you want albeit a cheaper car - but as your 1st car you need to learn to walk before you can run.
Does that make sense??
His only outgoing a month is a £50 phone bill. He can save up £500 in 2 months if he wanted to. Like ive said hes just too lazy to and like most today he wants everything yesterday so wont save and will just get himself on the debt slope nice and early! Lost cause!
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by DizzyRebel
His only outgoing a month is a £50 phone bill. He can save up £500 in 2 months if he wanted to. Like ive said hes just too lazy to and like most today he wants everything yesterday so wont save and will just get himself on the debt slope nice and early! Lost cause!
Yeah your probably right!! 
What gets me is people with this type of persons mentality is they are only cheating themselves, they think there getting what they want sooner, all there getting is the start of a nasty chunk of debt.
What happens in 18-24 months when they want a new car but cant because they have thousands to pay off on what they got on tick however its now devalued to almost being worth feck all!!
What usually happens is they still hav'nt learned so borrow more then end up owing & more. Its nuts!!
You dont get anything in life from having nothing in the 1st place!! I was taught that, its served me well!! 
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Pete_vxl
Member
Registered: 24th Nov 06
Location: Lochgelly, Fife
User status: Offline
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At your age i wouldnt take any credit, i would stuggle on. Having worked in loans and now bank accounts the amount of young people who have fucked up there life is crazy. Theres no point in trying to keep up with the jones'.... especially when you still live with mum n dad.
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