Student needing 6K for a car - they best option?

Lavendyr

I bought my first car for £1k, second car for £3k and have just bought my third car for £4k. You do not need to spend £6k on a nice, safe, cheap-to-run car. I would seriously suggest your other half re-evaluate her needs. Parker's guide is extremely useful, if you haven't already made use of it, and is available online - just google Parkers.

fernliebee

I think most people are giving sound advice, if you can't afford to borrow don't do it! As a student with a low income surely it would be irresponsible to lend the money! I wouldn't know really as have never borrowed money (not inc student loan)- Except odd £50- £100 occasionally from parents and Very quickly paid it back.

I have been driving for 9 years and have had 4 cars, the cheapest being £85, and the most expensive being £700. I have paid about £500 in repairs over this time too. I'm not suggesting she should lower her standards this much, as I am sooo not interested in cars as long as they are safe, and run I'm happy. I do love the fact that I outright own them and if anything goes wrong I only have to worry about getting a new one, not continuing to pay for an old one that is written off! I had a few friends get brand new/ year old cars on finance for first cars and then write them off/ have major crashes, so had to still pay for a car that wasn't on the road.

Apples2

Take advice from someone called SPUNKO.. thats the best thing to do :rotfl::T:rotfl::T:rotfl:

lavandergirl_2

Chunky&Co wrote: »

Sorry man. Look up Chris Rock on youtube....he has a very good theory about women and their inability to go backwards in their lifestyles.....to balance this Men can't go back sexually.

Point is ,don't start her off in a flash 6K car, she'll think this be the norm and will only want better.

http://www.youtube.com/watch?v=gGJFlKEAjyE

powned

why is there such a bad atmosphere on these forums? someone comes on to ask a question and all they get is moral judgements, sarcasm and insults.. i have never known a forum like it.. there needs to be some kind of moderation to control the majority of morons that post here.. it is a horrible place to post... !!!!!! is with you heads anyway? :mad: are you bored with your lives? do you feel that insignificant that you need to make yourselves feel bigger by putting down other people... seriously, grow TF up!! This place is like a playground full of bullys... if you guys just need hug yano im here for you because i do feel sorry for you... CLOWNS :rotfl:

hounslow_boy

nickb_2581 wrote: »

Hello
My girlfriend recently passed here driving test and is in the market for a car. Im wondering what the best route of gaining finance for this is she is in part time employment but im sure will be hit hard on a finance deal through a dealer. Is there a better option i could look into??

Thanks in advance

Hi nickb,

my advice to you would be to attempt the near-impossible task of lowering your gf's expectations on the car front. I drive a £500 car and it hasn't gone wrong on me in 3 years, doesn't look too bad either.

Even if you're not taking out the loan your partner would be and that affects your relationship. Please take a look around you, watch the news, hear how increasing numbers of people are being reposessed, declared bankrupt, losing their jobs and their partners.

Main stream media like Sky & beeb seem to be attempting to talk things up at the moment, talk of green shoots in housing and economy - gut feeling says things are sadly going to get a lot worse before they get better. Save your repayments, don't spend them on a rusting depreciating piece of metal.

I took out a loan to buy my gf a car, she subsequently left me for an ex - :rotfl:

caveat emptor

mummytofour

This really is a no brainer, why the bleep would anybody want to spend 6k they dont have buying a car they dont need??? If she needs a car buy a cheap run around. I am a student and I would not entertain such a stupid idea as to spend 6k I dont have on a car of all things.

roxalana

I'm not sure the OP will be back to read this as the thread has veered a little from the original question but anyway... (sorry long post too!)

I think it would be a good idea for the OP and his Gf to have a look at a loan repayment calculator where you can consider what repayments will be at different levels of interest. Then find out what tax, insurance etc will cost.

Then estimate what you will use the car for - what mileage this would be and the fuel costs. You will also need to factor in parking costs etc.

Then see if this is doable within your GF's budget. If it isn't then she will need to reassess what she would like to do.

You might also want to think what were the important things about the £6k car - was it that it seems less risky than a cheaper car as it should be more reliable? If so, and this is to avoid risk then she might want to consider the risks should she not afford to keep up repayments.

It might be that she may need to think about what having a car would give her. For example if she thinks it will give her freedom but then she doesn't have the money to go anywhere in it she may have borrowed £6k and be very disappointed. Or if she thinks it will be easier to get to work than the bus she may find it works out more expensive when you factor in the above and may be more stressful dealing with traffic!

I'm not saying don't spend £6k on a car but I would advise that she looks before she leaps! i don't think there is much worse than going for an expensive dream to find out it isn't nearly as good as you thought (or even worse if it also becomes a financial nightmare).

We are considering doing a car club scheme as we will only use a car for heading out of the city and it means we get a car that works and don't have to pay for a parking permit etc. Personally we will struggle to afford even a sub £1k car and runnning and there are 2 of us on decent salaries with no kids!!

Finally, does your GF have any other dreams/goals? A £6k loan will take a long time to pay back - what if in a couple of years time she needs cash to tide herself over whilst looking for graduate work or living costs whilst on that dream graduate scheme placement or if she wants to travel round the world or save for a house deposit (or dare i say it - get married!!) - it might make other dreams a lot further away...

CashRequired

I purchased my car off ebay for £300 with 12 months tax and mot. Never let me down I know having a really nice car is important to alot of people, and its not a waste of cash if it makes her happy. Im not going to type anything else, its not worth it, Roxalana has said it all for me.

missymugwump

powned wrote: »

why is there such a bad atmosphere on these forums? someone comes on to ask a question and all they get is moral judgements, sarcasm and insults.. i have never known a forum like it.. there needs to be some kind of moderation to control the majority of morons that post here.. it is a horrible place to post... !!!!!! is with you heads anyway? :mad: are you bored with your lives? do you feel that insignificant that you need to make yourselves feel bigger by putting down other people... seriously, grow TF up!! This place is like a playground full of bullys... if you guys just need hug yano im here for you because i do feel sorry for you... CLOWNS :rotfl:

I thought it was just me who felt like that :cool: