Need £11,000 loan for a car

davetrousers

Having to pay this loan off over 5 years is quite a significant financial commitment. Over this period paying this loan will have a detrimental effect on being able to save money towards buying a house or reduce one's available money to rent a place.

Please bear this in mind if you are talking about getting a place together in the next 5 years. Or indeed may have an impact on something like going on holiday.

sparklygemster

dmg24 wrote: »

This concerns me. You cannot afford more than £100 on clothes, yet your OH can waste £20000 on a car. Methinks you need to look at the balance in your relationship?

I spend my money, he spends his...we dont live together, and he thinks i spend too much money on clothes, thats why ive done it......this is a money saving forum isnt it?????

Inactive

sparklygemster wrote: »

just because were lucky enough to have that much money to spend, doesnt mean we cant money save!!!

But you don't have it, that is my point exactly, if you did, that would be fair enough.

So why not save up and then buy the car?

sparklygemster

davetrousers wrote: »

Having to pay this loan off over 5 years is quite a significant financial commitment. Over this period paying this loan will have a detrimental effect on being able to save money towards buying a house or reduce one's available money to rent a place.

Please bear this in mind if you are talking about getting a place together in the next 5 years.

He does have enough money saved to spend for a house at this moment in time, he just wants to save that seperately.

Dont see why i should have to explain to everyone what our spendings and savings are jsut because he wants to buy a car!!!

sparklygemster

Inactive wrote: »

But you don't have it, that is my point exactly, if you did, that would be fair enough.

So why not save up and then buy the car?

have you tried saving up £11,000? he has saved £9,000 on his own in 2 years, i think he deserves to spend it on what he wants!

Inactive

sparklygemster wrote: »

Dont see why i should have to explain to everyone what our spendings and savings are jsut because he wants to buy a car!!!

You don't have to, you choose to.

MORPH3US

Guys please, give up on the "you can't afford it" and "don't get a Seat" posts... I think everyone has made their point to the OP.

However if the OP wants to buy that car then thats her choice and her money. Of course its MSE to advise that it will depreciate a lot but we have been there and the OP understands it.

Some people prefer to go out for a meal at weekends but if someone asked where is a nice expensive restaurant to treat my girlfriend... I doubt everyone would jump on them and say "don't go out for a meal, eating beans on toast at home is much cheaper"...

Hope we can all be friends now, or at least be civil.

sparklygemster

inactive wrote: »

but you don't have it, that is my point exactly, if you did, that would be fair enough.

So why not save up and then buy the car?

im not the one thats buying the car!!!

He is!!

dmg24

sparklygemster wrote: »

I spend my money, he spends his...we dont live together, and he thinks i spend too much money on clothes, thats why ive done it......this is a money saving forum isnt it?????

Do you not see a big old imbalance there? You cannot spend £100 on clothes, yet he can spend £20000 of money he does not have on a car.

sparklygemster wrote: »

just because were lucky enough to have that much money to spend, doesnt mean we cant money save!!!

This is what you don't get, you are not moneysaving. You are spending twice (or more) the money that you need to spend. However you dress it up, it is not saving!

I'm not having a go at you, just trying to get you to see sense!

Inactive

sparklygemster wrote: »

have you tried saving up £11,000? he has saved £9,000 on his own in 2 years, i think he deserves to spend it on what he wants!

Yes and a bit more than that as well, but I don't waste money on £20.000 cars that will be worthless in 5/10 years time.