Need a loan for a car but have a large overdraft!

Pamela1990_2

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:

jennihen

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!!

LeeSouthEast

Jenni speaks much sense.

skintbutsolvent

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.

LeeSouthEast

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!!!

jennihen

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 x