budget loan

needajob_2

Robbie64 wrote: »

Is a bank loan not possible? A Budgeting Loan can be made for travelling expenses on starting work but I can't see the purchase of a car being included under that heading.

Hi My bank have refused me a loan based on the fact that I am unemployed told me to come back when they have seen three months salary being paid into my account ,so once again another brick wall but thank you for your reply

Jowo_2

On a tight income, you may as well just throw your money out of your pocket as cars are so expensive - costs associated with insurance, tax, maintenance and fuel.

Jowo_2

needajob wrote: »

Hi My bank have refused me a loan based on the fact that I am unemployed told me to come back when they have seen three months salary being paid into my account ,so once again another brick wall but thank you for your reply

And what's the local car rental market like on short to mid term hire rates?

And what's the interest rates like for unsecured loans?

If you have a permanent job, what's the HP rate like for local garages that sell used cars?

andyandflo

Jowo wrote: »

On a tight income, you may as well just throw your money out of your pocket as cars are so expensive - costs associated with insurance, tax, maintenance and fuel.

A sweeping statement!

They are not as expensive as you would have others believe. I run a 2 year old BMW 325 and my wife and I are on Pension Credit.

The car is taxed, insured and serviced. The total of those three adds up to just over £10 per week. Diesel costs approx £5.50 a gallon and takes us for over 50 miles - which works out at 11p per mile.

We worked out the cost of keeping the car on the road V public transport, and the car, per mile including everything is cheaper.

Yes it is the capital cost that makes it difficult.

krisskross

sh1305 wrote: »

Many people (including myself) have learnt to manage without a car. You don't need a car.

You are only 21, don't work. With your many claimed ailments, including the eyesight issues, hopefully you will never be a suitable candidate for driving.

captainhaddock

I asked the dss for a budgeting loan a few years ago and filled the form in, applied for £650 was offered £580 the weekly rate was around £15,bought myself a little cheap to run micra for £460 and managed to get the dealer to put 6 months tax on it in with the price, and it lasted me almost 4 years, insurance varied from year to year £90 - £135 for the year(I'm also an older driver).

It just helped me get back on my feet again after my previous vehicle let me down and started to be unreliable,I did not have to list the items that I needed when I applied - just the amount that I needed,it took about 2 weeks to process.

andyandflo

captainhaddock wrote: »

I asked the dss for a budgeting loan a few years ago and filled the form in, applied for £650 was offered £580 the weekly rate was around £15,bought myself a little cheap to run micra for £460 and managed to get the dealer to put 6 months tax on it in with the price, and it lasted me almost 4 years, insurance varied from year to year £90 - £135 for the year(I'm also an older driver).

It just helped me get back on my feet again after my previous vehicle let me down and started to be unreliable,I did not have to list the items that I needed when I applied - just the amount that I needed,it took about 2 weeks to process.

Good on you! As you have found out it is not just the ability to look for a job and keep it, but the freedom that it gives you is as useful as the best medicine that the GP can give. It gives you your life back - making you think and feel positive.

Those that moan about it being too expensive and selling it, are probably in that much debt that that was one of the ways of reducing it! Maybe the car was on expensive lease or HP?

If I had to wait round for public transport to get to the hospitals I visit regularly, I would never get there - well it make take all day and night. viz Canterbury to Liverpool University Hospital every 6 weeks!

The killer in car ownership is the capital cost, remove that and you have, as you have found out, cheap reliable transport at a fraction of the cost of buses & trains.