Soon to be Barclays staff, need £10,000 loan for car.

27col

A good thread. I hope the o.p takes the advice offered. As to the point about depreciation of a banger. Surely the whole point about owning a banger is that it is almost fully depreciated already.
Any one who gets themselves lumbered with a huge debt just for the pleasure of owning a flash car is a very shallow and foolish person in my opinion( I am not suggesting that this applies to the o.p. It is just a general observation.)

bouncydog1

bouncyd!!! wrote: »

What you want and what you need are two entirely different things. IMHO you "need a good shake to wake you up to the reality of your situation".

You don't have a permanent job. You have an offer of a job that you are quite rightly excited about but, as others have said, you may not even pass your probationary period. Just because you are ambitious and keen does not mean that you will suit your prospective employer.

You do not have £10k to buy a car, pay the insurance and pay off your existing debt and until you have a job history and evidence of savings in the bank any lender is going to consider you a high risk.

So what if you have to rely on public transport - you have been travelling so I'm sure you've experience of public transport.

Best bet IMHO - work your probabation, show the employers what an asset to their organisation you will be, study for exams, catch the bus/train etc, give your mates something for petrol when they offer you a lift and SAVE UP FOR A CAR!!

Sorry if the original post was a bit harsh, but I really couldn't believe what I was reading. I am so pleased that you have read through all of the helpful advice from the other posters - there are too many horror stories of people being in debt from similar circumstances to what you were proposing. You are 24 - just about to start enjoying your life - the best thing you can do is ensure that financially you don't have to worry about money - and all your mates with flash cars, well I wouldn't give them a second thought - you don't know what their financial position is - they may lay awake worrying about their cards being maxed out and overdrawn up to the eyeballs because they didn't bother to find out the facts first. I hope your job goes well for you and we see you on the other boards - savings and investments.;)

katebl

bouncyd!!! wrote: »

Sorry if the original post was a bit harsh, but I really couldn't believe what I was reading. I am so pleased that you have read through all of the helpful advice from the other posters - there are too many horror stories of people being in debt from similar circumstances to what you were proposing. You are 24 - just about to start enjoying your life - the best thing you can do is ensure that financially you don't have to worry about money - and all your mates with flash cars, well I wouldn't give them a second thought - you don't know what their financial position is - they may lay awake worrying about their cards being maxed out and overdrawn up to the eyeballs because they didn't bother to find out the facts first. I hope your job goes well for you and we see you on the other boards - savings and investments.;)

I can vouch for the fact that you don't know how the cars are funded - I had a friend had a BMW Z4 while we all had clios and ka's - later on she admitted she couldn't afford to keep it (£500 per service!!), sold it and lost thousands. To this day she wishes she'd kept her 206 she started with!

blue_monkey_2

Ah, happy days. I remember my first cars, never paid more than £200, LOL.

I was in the bike shop the other day and a lady was looking at bikes with her hubby, he saw one he liked 'how much is it' she said '£400' he replied ' she said 'I am not paying that, I can get a car for that'.

Can you not get a moped if it is for only going to and from work.....??

triticale

blue_monkey wrote: »

Ah, happy days. I remember my first cars, never paid more than £200, LOL.

I was in the bike shop the other day and a lady was looking at bikes with her hubby, he saw one he liked 'how much is it' she said '£400' he replied ' she said 'I am not paying that, I can get a car for that'.

Can you not get a moped if it is for only going to and from work.....??

Now the ULTIMATE short distance commuter is a Honda C90 :j

Goes forever on a gallon of fuel, would be the only thing along with cockroaches to survive a nuclear holocaust.

Might not be 'cool' enough for the average 24 year old mind...

GEEGEE8

Just do what I did

Had a good financial services career as a mortgage advisor with a bank, fully qualified, decent wage..

Got a nice flash car!! an expensive one too, impressed everyone, and I felt like a right posh kid

Job as a mortgage advisor didn't work out too well, I got a bit bored, manager was a t1t, so I became self employed. Went well for a couple of years, then it went very badly wrong.

Result = bankruptcy.

Think long and hard. I am ambitious too, but it didn't help me when the !!!!!! hit the fan..