Provisional licence holder and car finance

clairbear1000

@Dellers

Exactly what happened to me. Yes I was foolish. But I have lived and learned.

It's a risk, that he may want to take. But its good to be aware of them. I didn't even give it a second thought, but wish I had!

Dellers

I have been there and done that myself. I wanted the car so much I went to the bank took out a loan for 5k bought the first one I saw without driving it !!! woke my dad up from his sleep after working nights to say I bought a car needless to say he nearly hit the roof. Car sat in the driveway for over a year ( long list to re sit the test ) ended up selling it to the neighbour for £800 as thats all it was worth as I could not be bothered with it since I could not drive it anyway. :rotfl:........I must add I have passed my test now and look after my car very well

tote_alley_stressed

Thanks for all your advice not so sure about the cynics though that assume owning your own home with a mortgage is in the same category as him wanting to buy a car. I've done both and with hindsight now would never have gone down the mortgage route. What chance has anyone today got regardless of their financial position.
The parents are on the rollercoaster of working indefintely to provide financial support in respect of moving on - my son was interested in buying a car and showed maturity in respect of this - more than the greedy salesman.
Correct advice I am afraid comes at a price and this is a learning curve.
He still plans to buy a car, budgeting his insurance etc and hopefully when the time comes for him to move on he will have a sound credit background - I rest my case and thanks for those who advised through experience:T