corsasport.co.uk
  Not logged in [Login - Register]  
You Are Not Registered Or Not Logged In  

Corsa Sport » Message Board » Off Day » Taking out a loan


New Topic
New Poll 		  <<  1    2    3    4    5    6  >> Subscribe | Add to Favourites

You are not logged in and may not post or reply to messages. Please log in or create a new account or mail us about fixing an existing one - register@corsasport.co.uk

There are also many more features available when you are logged in such as private messages, buddy list, location services, post search and more.


Author Taking out a loan
DannyB
Premium Member

Avatar

Registered: 6th Feb 08
User status: Offline
25th Jul 09 at 14:44   View Garage View User's Profile U2U Member Reply With Quote
I've had loans and had cars on finance and yes I do regret it, out of interest, how much is the car you want to buy?
will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
25th Jul 09 at 14:49   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by DannyB
I've had loans and had cars on finance and yes I do regret it, out of interest, how much is the car you want to buy?


I have seen quite a few around.. they range from £1000 - £1600

I want one not modded.. and with lowish mileage.. around 60,000
DannyB
Premium Member

Avatar

Registered: 6th Feb 08
User status: Offline
25th Jul 09 at 14:52   View Garage View User's Profile U2U Member Reply With Quote
If it's cheap then get an overdraft from the bank, if you think you could live on 400 a month then do it that way. Loans at your age are bad news, you fuck up once and you're black listed, like me, since I have been from 18. No bank will even consider me for a loan now.

[Edited on 25-07-2009 by DannyB]
Colin
Member
Registered: 4th Apr 02
User status: Offline
25th Jul 09 at 14:52   View User's Profile U2U Member Reply With Quote
Just save up for a few months & get something like this - http://search.autotrader.co.uk/es-uk/www/cars/VAUXHALL+CORSA/Ne-2-4-5-6-7-8-27-44-49-53-61-64-67-103-133-146-236,N-12-191-240-4294966945-4294966947/advert.action?R=200930338605132&distance=342&postcode=fk3+9ar&channel=CARS&make=VAUXHALL&model=CORSA&min_pr=&max_pr=1000&max_mileage=&vehicleYearOfManufacture=1993&vehicleRegLetter=L

Then all you have to pay monthly is your insurance & petrol!!
will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
25th Jul 09 at 14:59   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Colin
Just save up for a few months & get something like this - http://search.autotrader.co.uk/es-uk/www/cars/VAUXHALL+CORSA/Ne-2-4-5-6-7-8-27-44-49-53-61-64-67-103-133-146-236,N-12-191-240-4294966945-4294966947/advert.action?R=200930338605132&distance=342&postcode=fk3+9ar&channel=CARS&make=VAUXHALL&model=CORSA&min_pr=&max_pr=1000&max_mileage=&vehicleYearOfManufacture=1993&vehicleRegLetter=L

Then all you have to pay monthly is your insurance & petrol!!


I dont really want an sri with 120,000 miles
Colin
Member
Registered: 4th Apr 02
User status: Offline
25th Jul 09 at 15:02   View User's Profile U2U Member Reply With Quote
Any reason?

I bought a GSi with 50k miles on it when I was 18 the engine fucked up on it.

Ive had several cars with over 100k miles....they have been fine
Tom G
Member
Registered: 4th Aug 08
Location: Cheshire
User status: Offline
25th Jul 09 at 16:20   View User's Profile U2U Member Reply With Quote
I spend easily 100-120 a month on petrol and then another 90 on insurance plus you'll be under a loan which will be about 120 a month, So you'll never have no money!!

Just save up and get a car out right without loans etc. may take a little loner but will leave you with more money
will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
25th Jul 09 at 16:36   View User's Profile U2U Member Reply With Quote
I plan to pay my insurance off in one go.

I have been quoted £1600
DizzyRebel
Member
Registered: 2nd Jan 09
Location: Lincoln
User status: Offline
25th Jul 09 at 16:46   View User's Profile U2U Member Reply With Quote
quinn direct, i paid £982 tpft on a corsa gsi at 19, first car no ncb
will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
25th Jul 09 at 16:52   View User's Profile U2U Member Reply With Quote
well I went on go compare and the cheapest fully comp was £1600
Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
25th Jul 09 at 17:00   View User's Profile U2U Member Reply With Quote
You'll struggle to run a car on £400 a month, I only earn £800 a month if I dont do overtime and I struggle on that with my loan and other little odds and sods, luckily I have regular overtime and pick up a good bit more than the basic wage. I spend £40 a week on petrol too, and I wouldnt say I do much mileage compared to most people that I know.
DizzyRebel
Member
Registered: 2nd Jan 09
Location: Lincoln
User status: Offline
25th Jul 09 at 17:02   View User's Profile U2U Member Reply With Quote
Why do you need fully comp? are you going to claim on a car that cost you a grand? would cost you £400 or more on excess to get about £500 back and then cost another £500 next year on your premium.

Go tpft.
ed
Member
Registered: 10th Sep 03
User status: Offline
25th Jul 09 at 17:02   View User's Profile U2U Member Reply With Quote
Don't get a loan on an old Corsa. It's a pointless exercise.

A person in your financial situation can only afford a car worth a grand or so, so don't over stretch yourself.
Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
25th Jul 09 at 17:13   View User's Profile U2U Member Reply With Quote
It reminds me of an old mate of mine, he was desperate for a car, got a £2000 loan, bought an Escort, it broke about 6 weeks later sat on his drive and he decided he wasnt paying the loan for a car he didnt have, cancelled the direct debit and changed banks, not saying you'll do this but its a possibility you could be paying for a loan when you dont even have the car.
will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
25th Jul 09 at 17:14   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by DizzyRebel
Why do you need fully comp? are you going to claim on a car that cost you a grand? would cost you £400 or more on excess to get about £500 back and then cost another £500 next year on your premium.

Go tpft.


what will I be looking at if I go tpft?
will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
25th Jul 09 at 17:19   View User's Profile U2U Member Reply With Quote
I managed to get it down to £1000
Sam
Moderator
Premium Member

Registered: 24th Dec 99
Location: West Midlands
User status: Offline
25th Jul 09 at 17:50   View User's Profile U2U Member Reply With Quote
Doyle, your threads never fail to amaze me. Most of what you say is fantastically ridiculous, yet makes compelling reading.

Keep up the good work!
Ian
Site Administrator

Avatar

Registered: 28th Aug 99
Location: Liverpool
User status: Offline
25th Jul 09 at 18:40   View Garage View User's Profile U2U Member Reply With Quote
Not read the thread properly but you shouldn't get a loan for five years to pay insurance for one.

What you going to do next year when it's twice as much? Borrow more?
Ash_EP3
Member
Registered: 15th May 07
Location: Melksham, Wiltshire
User status: Offline
25th Jul 09 at 18:50   View User's Profile U2U Member Reply With Quote
As long as you have good credit a bank should easily lend you £4k I just took out a loan for my civic which I plan to pay off in 4 years time!
will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
25th Jul 09 at 18:58   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Ian
Not read the thread properly but you shouldn't get a loan for five years to pay insurance for one.

What you going to do next year when it's twice as much? Borrow more?


the second year will be twice as much?

are you sure?
Ian
Site Administrator

Avatar

Registered: 28th Aug 99
Location: Liverpool
User status: Offline
25th Jul 09 at 18:59   View Garage View User's Profile U2U Member Reply With Quote
Perhaps not twice, but when you're still paying for this year plus interest it won't be far off.
will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
25th Jul 09 at 19:02   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Ian
Perhaps not twice, but when you're still paying for this year plus interest it won't be far off.



What are you saying will be nearly twice as much?
DannyB
Premium Member

Avatar

Registered: 6th Feb 08
User status: Offline
25th Jul 09 at 19:06   View Garage View User's Profile U2U Member Reply With Quote
Next year you will have to pay the loan repayments and then the insurance on top of that.
will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
25th Jul 09 at 19:08   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by DannyB
Next year you will have to pay the loan repayments and then the insurance on top of that.


Yeah.. I will just have to save up for my insurence next year.

Birhday / xmas money.. etc
shaunmods
Premium Member

Avatar

Registered: 12th Mar 07
Location: Glascote, Staffordshire
User status: Offline
25th Jul 09 at 19:20   View Garage View User's Profile U2U Member Reply With Quote
quote:
Originally posted by will_doyleYeah.. I will just have to save up for my insurence next year.

Birhday / xmas money.. etc


Would it not be better just to save up the first time round? No loan to worry about for the next 4+ years then

  <<  1    2    3    4    5    6  >>
New Topic
New Poll

Corsa Sport » Message Board » Off Day » Taking out a loan 22 database queries in 0.0157270 seconds