Hello peeps 17 year old in distress

HamiltonPOLE

hi GUYS

I'm a 17 year old male i just bought a 125cc motorcycle with the money i have saved up from work (£2300) it was pretty much a last ditched overpriced bid on ebay, which left me with £0.
This means i can not start up my insurance and buy my helmet, gloves, boots etc.

So I'm wondering is there some way i can borrow around £630, this month and pay it back within the next 2 months.
I seriously need to find an organization/company who would be willing to do this for me. As i basically have a theft magnet in the car park next to a council estate with no insurance covering me for theft/damages.

Just give you a list of things i need to pay for, just incase theres any secret millionaires roaming around this forum.


CBT: £120
Insurance deposit: £150 (with £180, 8 monthly payments.)

not so important things as i can happily leave the bike parked for a month until my pay day comes around again .
Helmet: £80
Gloves: £40
Boots: £60
Armour: £180

Djswife

Oh my gosh! Not much help to tell you you should have got a cheaper bike now is it?
Do you have a mate with a secure shed or garage you can stash it I till you can afford the basics to get on it?
And if you do get it insured and it is damaged/ nicked there will be an excess to pay, so leaving it parked for a month as a target isn't so bright
But heck, well done.. My kids never had 2300 to buy anything at 17

McKneff

You are not legally old enough to take out a loan. You cannot enter into a credit agreement till you are 18.

Bank of mum and dad maybe.

nonnatus

To get a loan, you would need to be 18 and to prove you had the common sense required to be able to plan ahead for the next couple of years, with regard to repayments...

You have shown not only are you underage, you couldn't see further ahead than the purchase of the bike. Did you not think about how you would pay for all the important extras?

The ONLY solution is to now SELL the bike, buy one for half the cost and put the rest of the money towards other costs. :cool:

Good Luck.

kazwookie

Why buy a bike that was so expensive, you should have kept £800 or so back for a equipment / insuracne that you need, and bought a cheaper bike.

If you haven't already picked the bike up, tell the seller you are not gonig to pay and get them to relist it, you will get a strike but that it better than paying for the bike and it gets nicked uninsured and you lose the lot.

DCFC79

Why were you desperate to buy a bike ?

Why from ebay though ?

Did you go and check the bike out ? it could be a death hazard.

You've got the whole process the wrong way round hamilton, the first thing to have done was pass the CBT then 1 month buy the gloves, 2nd month buy the helmet and what you have left you save up for the cost of insurance plus the bike.

How do you know you will pass first time ?

I presume you have bought the bike already as you talk about "a theft magnet in the car park next to a council estate with no insurance covering me for theft/damages", you dont have many options, you can stash it somewhere, ask your parents for what you need for gloves, CBT etc or sell the bike. Id be more in favour of selling the bike, pass your CBT first then look at helmets, gloves etc and cost of insurance and look for a bike.

macman

How did you manage to ride it home without insurance or protective clothing?

Moneymash

Ok so you got carried away on ebay, most people have done that. The most important thing is to try and find a secure place for the bike asap, have you got family and friends that can help with that.


If you have a birthday coming up maybe ask for money or the kit you need.

Wywth

That shouldn't be a problem.

You managed to use ebay whilst underage, so getting yourself a loan whilst just 17 shouldn't be too difficult either.

And the good news is that the lender won't be then able to recover the money from you either as you are underage :beer:

DCFC79

Wywth wrote: »

That shouldn't be a problem.

You managed to use ebay whilst underage, so getting yourself a loan whilst just 17 shouldn't be too difficult either.

And the good news is that the lender won't be then able to recover the money from you either as you are underage :beer:

The OP could have used a siblings or a parents ebay account but you would have thought the parents/siblings would have mentioned he was spending too much on the bike and/or not passed the CBT but yes id be interested to know how he bought it.

bargainbetty

As people here have said, you cannot legally obtain credit at your age. How or why you got the bike is now immaterial, but you must be in a position to either ride it legally or sell it.

Go on Gumtree and see if anyone locally has a lock-up/garage/shed you can rent. Store the bike there (much cheaper to fund if you are already working) and that will give you time to complete your CBT, obtain insurance and the other kit you need over the next few months, and also give you time to learn how to maintain the bike, check oil etc.

Do not skimp on the protective clothing and crash hat - that stuff may genuinely save your life one day. My ex paid £600+ for just for his coat, crash hat and boots. When he went over the bonnet of a Volvo and skidded 30 yards down the road on his backside, the kit saved him from serious injury.

Next time, work out the full cost of everything and don't buy until you have the money for it all. For now, your priority is finding safe storage and saving the money yourself. This is not something you want to find a short term-solution to - the storage will be a problem, insured or not, so sort it now.

Good luck.