Need £11,000 loan for a car

andymc29

Wow, just noticed this threa. Very funny.

I've got to agree with most of the advice though, getting a degree does not warrant getting into 11k of debt for a car. Since when does getting a dgree make you deserve a brand new 20k car???? Surely that's the sort of thing he should buy himself after several years of high wages using his new degree? Also, giving that this is a present, is it really wise to get into debt to buy someone a present? Some parents give far too much and are in danger of creating spoilt children, even at 21 years old.

sharpy2010

Foxtbh wrote: »

Whilst I realise that this thread is some 2 years old I have just read it and I felt it was such a shame.

Everyone was so busy slagging the OP off for what they think they can afford the really important parts of the story were picked up by only a few posters and lost in the noise.

Provided you can comfortably afford it, there is nothing inherently wrong with 'debt'. The problem with this story was not that they wanted to borrow £11k to buy a £20k car - infact actually a near 50% deposit on a car is a pretty sensible way to go about borrowing to buy, far lower risk of negative equity and thus an easy exit route should circumstances change.

The problem was that:

a) It was a new Seat, which will depreciate like a brick in a pond.
b) The quote being offered by Seat was - at 10% flat - bordering on extortionate.

But no, far better to lambast the OP for daring to wish to spend a whole 200 quid a month (What he should have been paying had the quote been competitive) on a car.

A shame. This is a fantastic forum with a wealth of knowledge but the tendancy to launch into attack mode the second somebody mentions a loan is a shame. I appreciate some of you have been burnt in the past and are now very risk averse as a result but the answer to that is be sensible with borrowings not borrow nothing at all ever.

I couldn't have put it better myself, thats exactly how I felt about it from the start.

The OP came on and asked the cheapest way to finance the remainder of the car (which in my opinion is money saving), and all that happened were people slated the choice of car, and suggested that the OP couldn't afford it as he/she couldn't pay in cash.

Other than one or two people who answered the ACTUAL question asked, everyone else got into Keyboard Warrior mode and posted not particularly relevant or helpful advice.

KingElvis

Who cares? it was an ancient thread dragged up by a now deleted spammer.........

sharpy2010

KingElvis wrote: »

Who cares? it was an ancient thread dragged up by a now deleted spammer.........

Don't be so rude, I'm entitled to my opinion!

KingElvis

sharpy2010 wrote: »

Don't be so rude, I'm entitled to my opinion!

Woahhhh relax there tiger, I didn't say you were not entitled to an opinion.....

What I meant was who cares? the thread is old

sharpy2010

KingElvis wrote: »

Woahhhh relax there tiger, I didn't say you were not entitled to an opinion.....

What I meant was who cares? the thread is old

Ah sorry lol! Yeah very true, the original issue has long been discussed I suppose

bigdave196

KingElvis wrote: »

Woahhhh relax there tiger, I didn't say you were not entitled to an opinion.....

What I meant was who cares? the thread is old

The thread is old, but the attitudes displayed within are still the same as what many many users of this forum have. As has been stated, the OP started with a simple question of "what's the cheapest way to finance this car?" and all she got in return was a torrent of abuse.

This place is supposed to be a place to get advice about monetary issues, but all anyone ever seems to want to post is "rabble rabble rabble you can't afford it rabble rabble rabble that's a crap car rabble rabble rabble". It's enough to put people off from asking, thus completely defeating the point of the forum.


Oh, and let us not forget this quote from Mr. Lewis himself "Debt itself isn't bad, bad debt is bad"

sharpy2010

bigdave196 wrote: »

The thread is old, but the attitudes displayed within are still the same as what many many users of this forum have. As has been stated, the OP started with a simple question of "what's the cheapest way to finance this car?" and all she got in return was a torrent of abuse.

This place is supposed to be a place to get advice about monetary issues, but all anyone ever seems to want to post is "rabble rabble rabble you can't afford it rabble rabble rabble that's a crap car rabble rabble rabble". It's not enough to put people of from asking, thus completely defeating the point of the forum.


Oh, and let us not forget this quote from Mr. Lewis himself "Debt itself isn't bad, bad debt is bad"

Agreed!

Theres so much GOOD information here, ruined by the useless posts that some choose to keep making, answering questions that haven't been asked.

KingElvis

sharpy2010 wrote: »

Agreed!

Theres so much GOOD information here, ruined by the useless posts that some choose to keep making, answering questions that haven't been asked.

Hey, you're describing an Internet forum there

sharpy2010

KingElvis wrote: »

Hey, you're describing an Internet forum there

Very true, I think this one has more people who suffer from Keyboard-Rage than a lot of other forums though, unfortunately.