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Need a loan for a car but have a large overdraft!
Pamela1990_2
Posts: 1 Newbie
in Loans
Ive recently passed my driving test, i need a car for a new job. My overdraft is now -£750 is there any chance i could get a loan with that size overdraft or will that not matter??? I need help!!:eek:
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Depends on your credit history,income etc. The point is (and I'm assuming you're about 19 by your sig) do you want to be saddled with a loan and the highish cost of insurance for your age group at this point in your life?I 've only been driving for 3 years and my first 2 cars were 'throwaways' - each cost £100 and when it came round to MOT time I sold them for spares. I now drive a nice Fiesta which I saved for and am looking to upgrade at the end of the month. Its really hard to be out there having fun if you're saddled with commitments for the next 3-4 years. Just make sure you've got good breakdown cover!!One life.0
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Jenni speaks much sense.Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
Do something amazing. GIVE BLOOD.0 -
I agree with buying a 'banger'. Get one with say 10mths MOT on it and assume it will fail next time. Pay out for AA or similar, then save say £100 a month, you'll then have enough for a 'reasonable' replacement. From someone who has been there done that, please don't get into debt in your teens, you will always regret it.0
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Pamela: I know that sounds like a crap idea, but we've all been your age and wish we'd done the same. Trust me!!!Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
Do something amazing. GIVE BLOOD.0 -
skintbutsolvent wrote: »I agree with buying a 'banger'. Get one with say 10mths MOT on it and assume it will fail next time. Pay out for AA or similar, then save say £100 a month, you'll then have enough for a 'reasonable' replacement. From someone who has been there done that, please don't get into debt in your teens, you will always regret it.
Yaaay Skintbutsolvent nice to see you on here too xOne life.0
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