Need £11,000 loan for a car

dfh

I have always taken out loans for my cars and repaid over three years.Mind you,the amounts I took out have never exceeded 5500.

ILW

sharpy2010 wrote: »

Herein lies the one of the problems with this site, I think. Whilst some crackingly good advice is offered, it seems that the advice offered to the original poster of this thread is "don't do it, you can't afford it".

The thing is, how do any of the people who have replied here know what the original poster can, or cannot, afford?

All they asked was "Where can we get the cheapest loan, with which to finance a car that we wish to purchase?".

Yes, there are cheaper cars. But this isn't the issue. They have obviously sat down and decided on the car that they wish to buy, and have worked out that over a period of time they can afford to purchase it. All they wanted was to find out who is currently offering the best loan product to help them finance the vehicle.

I think it is a shame that people's personal opinions sometimes seem to be more important than posting factual, and useful, information.

So on that logic, if someone posted saying they were thinking of taking up crack cocaine and asked where they could get the best stuff and the lowest price, would you think it best if they were just directed to their local dealer? I would have thought suggesting it is not a good idea might be better advice whether requested or not.

dfh

ILW wrote: »

So on that logic, if someone posted saying they were thinking of taking up crack cocaine and asked where they could get the best stuff and the lowest price, would you think it best if they were just directed to their local dealer? I would have thought suggesting it is not a good idea might be better advice whether requested or not.

I agree with you to a degree.But when you are talking about crack cocaine,you are talking about something illegal.Taking out a loan is not.I can appreciate that you are trying to tell the OP that taking the car out is probably not the best option but she has said that her OH has definitely decided he wants the loan( and they are looking for a good deal) and I think we should be respectful to her irrespective of whether we agree with that decision or not.

tobiascurious

I think I'd get an Audi if I was gonna spend 20k on a car, now that would be worth getting a loan for

Paulgonnabedebtfree

dfh wrote: »

I have always taken out loans for my cars and repaid over three years.Mind you,the amounts I took out have never exceeded 5500.

The only time I've ever funded a car purchase from savings the car cost me £45 and fell to bits in a couple of weeks. It was 1974 and the car was a 1960 Ford Popular. All the rest have been funded by loans - though I've never had a loan directly attached to the car. I say car but most of them have been vans or dual purpose vehicles.

ILW

dfh wrote: »

I agree with you to a degree.But when you are talking about crack cocaine,you are talking about something illegal.Taking out a loan is not.I can appreciate that you are trying to tell the OP that taking the car out is probably not the best option but she has said that her OH has definitely decided he wants the loan( and they are looking for a good deal) and I think we should be respectful to her irrespective of whether we agree with that decision or not.

OK so forgetting the illegal bit, if the OP had asked what is the cheapest, highest strength cider available as her boyfriend has decided he wants to become an alcoholic, should people just answer the question or maybe suggest that alcoholism is not a good idea?

Clive_Woody

I've got a SEAT Ibiza and it's a nice little car, a mere 100HP TDI but seeing as my commute to work is less than 7 miles each way it does the job and is nippy enough. My wife has a Skoda Octavia and I have to say it feels so much better put together.

You can currently get an Octavia vRS (200HP DSG) for £16,845. With a 50% deposit (£8,400) you can get 2 years 0% finance (around £350/month). A bit more more each month gives you full ownership in 2 years, a better car and extra cash in the bank long run and no interest paid.

Something to think about anyway as a moneysaving idea but still getting a car with some serious power.

http://www.skoda.co.uk/happyoffers/default.aspx?section=4#offer282

dfh

Paulgonnabedebtfree wrote: »

The only time I've ever funded a car purchase from savings the car cost me £45 and fell to bits in a couple of weeks. It was 1974 and the car was a 1960 Ford Popular. All the rest have been funded by loans - though I've never had a loan directly attached to the car. I say car but most of them have been vans or dual purpose vehicles.

A car for 45 ! Wow. Also,to point out,I know once I buy a car,it depreciates the moment it comes into my possession but I need it for commuting.So I do take out a loan knowing my "asset" is losing value every day.

ILW

Clive_Woody wrote: »

I've got a SEAT Ibiza and it's a nice little car, a mere 100HP TDI but seeing as my commute to work is less than 7 miles each way it does the job and is nippy enough. My wife has a Skoda Octavia and I have to say it feels so much better put together.

You can currently get an Octavia vRS (200HP DSG) for £16,845. With a 50% deposit (£8,400) you can get 2 years 0% finance (around £350/month). A bit more more each month gives you full ownership in 2 years, a better car and extra cash in the bank long run and no interest paid.

Something to think about anyway as a moneysaving idea but still getting a car with some serious power.

http://www.skoda.co.uk/happyoffers/default.aspx?section=4#offer282

Can you honestly see the OPs boyfriend ever settling for a Skoda?

dfh

ILW wrote: »

OK so forgetting the illegal bit, if the OP had asked what is the cheapest, highest strength cider available as her boyfriend has decided he wants to become an alcoholic, should people just answer the question or maybe suggest that alcoholism is not a good idea?

By all means,your suggestion that alcoholism is not a good idea is an excellent one.But again,it is different from giving advice about a car loan.Some things are very black and white.Others are not.