Looking for £7,000 loan.

Apples2

JoshBee25 wrote: »

tell me one car that doesn't have faults.

You're absolutely correct Josh, which is why people are trying to urge you to consider how much you will need to set aside for servicing/repairs.

No such thing as 100% reliability, all cars are a gamble. The last owner didn't get rid of it because it was the best car in the world.

JoshBee25

Your rigt, I'll have roughly £1000-1500 left over which will be in my cash card account where all my direct debits a paid from.

Primavera_2

Josh, I'm not in any way judging you, but I hope for your sake that your financial situation doesn't change in the next 60 months. Trust me, I've been there, done that and got multiple t-shirts.

All loans are a risk and 60 months is a long period to take a personal loan out over. No job or employment is 100% secure at the moment, times are really tough.

If there is any way that you can overpay on the loan, I would highly recommend that you do. You really don't want this hanging over your head for 5 years if you can at all help it.

JoshBee25

I appreciate what your saying but the main source of jobs these days is call centres I've been doug sales it 14 months now & making a good wage so as well a payin it I'm Savin up abit so I tht does happen I have say a years payments in the bank whilst I job hunt or flchangin my circumstances.

YorkshireBoy

JoshBee25 wrote: »

I appreciate what your saying but the main source of jobs these days is call centres I've been doug sales it 14 months now & making a good wage so as well a payin it I'm Savin up abit so I tht does happen I have say a years payments in the bank whilst I job hunt or flchangin my circumstances.

So how much, of the £14,000 to £21,000 you've taken home during that period have you actually saved?

And how long, once you've got the car and insured it (and fuelled, repaired, serviced, MOTd, and taxed it), do you think it'll take to save a years payments of circa £1,800?

pvt

JoshBee25 wrote: »

Let's face it, half of you would love to see me not get illy loan...

Absolutely right Josh!!!

But not out of spite or malice or Shadenfreude or because they can't, the folks here giving you good advice to set your sights lower are genuinely trying to help YOU.

The advice is comming from people who have the bitter experience of getting their salary every pay day and knowing that 70% of it is already spent that month.

I'm personally not a borrower, and only ever had a mortagage on my bricks and morter. And I can sort of sympathise with a car loan so long as the asset is always worth more than the outstanding loan. But paying for a year's insurance with part of a 5 year loan is, to my thinking, nothing short of madness.

The best person to explain this will be you, Josh, four years on from now.

JoshBee25

But within the 5 years I'll probably come to learn it was a mistake or I loaned to much but where I'm standing I want to make my own mistakes & £150 a month isn't a lot as I'm doing everything with the money car credit card Littleoods payin my holiday of also insurance just so it's done in one and not paying a loan and money every month for a policy with a hefty deposit.

19lottie82

https://forums.moneysavingexpert.com/discussion/3870477

JoshBee25

Well done you can see my other thread.

Dabooka

I've read through 5 full pages of this thread and I STILL don't know if it's got a technology pack fitted.