Looking for £7,000 loan.

MusicalLawyer

I was just wondering..

If you're saving incase things go wrong with the car / incase you lose your job and can't make repayment etc. How will you be paying for next years insurance? Or are you putting into like one savings pot for all those things?

JoshBee25

MusicalLawyer wrote: »

I was just wondering..

If you're saving incase things go wrong with the car / incase you lose your job and can't make repayment etc. How will you be paying for next years insurance? Or are you putting into like one savings pot for all those things?

I'm paying £600 a month into an account all direct debit payed including loan = £430 so £170 saving a month with £2000 from the loan also buildin credit up as when I'm 24 & it's payed of I'll be looking for a mortgage depending on the economy so will need good credit. Despite what everyone may think I'd like to think I have my head screwed on.

With this loan will also pay my holiday & credit card.

Apples2

How much deposit will you have saved up by the time you need a mortgage?

People struggle to get accepted with a 10% deposit in the bank .

Peelerfart

Post #122 and Post #124 shoud both be reported for mentioning the "save" word.

You should know,that kind of language has no place on this particular board.

Hang your heads in shame

Apples2

It was a sarcastic use of the word, we already know the answer

KingElvis

This thread is just soooo last week, can we let it die?

Pleaseeeeeeee

Tixy

JoshBee25 wrote: »

I'm paying £600 a month into an account all direct debit payed including loan = £430 so £170 saving a month with £2000 from the loan also buildin credit up as when I'm 24 & it's payed of I'll be looking for a mortgage depending on the economy so will need good credit. Despite what everyone may think I'd like to think I have my head screwed on.

With this loan will also pay my holiday & credit card.

Josh you need to work on saving more than £170 a month. £170 a month is only £2040 a year. That won't cover next year's insurance and a year's servicing, MOT, tax, tyres etc on the car. You need to save enough for all those things, plus an emergency fund for repairs / unexpected costs for the car.

I'd estimate a minimum of £3k for the car (excluding petrol) so try to put £680-£700 into the account for your bills/loans repayment & savings combined.

JoshBee25

I'm debating on cancelling the loan I'm in cooling of period I can't get insured on a car by my self for less then £3500

Dabooka

JoshBee25 wrote: »

I'm debating on cancelling the loan I'm in cooling of period I can't get insured on a car by my self for less then £3500

All joking aside, do it. Get it cancelled, and re-read the thread with a different head on.

:beer:

BugsyBrowne

JoshBee25 wrote: »

I'm debating on cancelling the loan I'm in cooling of period I can't get insured on a car by my self for less then £3500

Thought you would of got insurance quotes before.