Cant get a loan and I need one urgently

DCFC79

fiestatdci wrote: »

How do you know what I have spare each month? When i said i wish i could save for it didn't mean i couldn't, just that i dont want to wait 3 years to have it done.

You have been turned down for a loan so the next best 2 options are to get a better paid job or save up for it.

fiestatdci

Linda32 wrote: »

I see where you are coming from in as much as its an interest that you enjoy. My OH likes his cars as well, fortunately for our bank balance his thing is rattle can matt-black

Would you consider rattle can re-spray or does it have to be the whole spray booth option?

OK I guess you don't get the finish, but if your prepared to put in the time with flatting down etc. Well your time is free and thats all part of the enjoyment isn't it.

Show season is pretty much over now so there is time.

Just trying to think of cheaper options here.

We have known people get into terrible trouble over loans taken out for modifications. Paying loans of with loans etc :eek:
I know that you know you never get the money back that you have spent and thats not the reason you do it. Same way as a fisherman dosn't have to fish for his supper just enjoys it.

Its certainly an expensive hobby, but it is just an hobby and not one worth getting into debt for IMO.

HTH and Best of luck.

It's a 55 plate car so I'd rather not do it myself with rattle cans, I aim to have it looking great. Not something I could do.

Linda32

fiestatdci wrote: »

It's a 55 plate car so I'd rather not do it myself with rattle cans, I aim to have it looking great. Not something I could do.

Oh I see, sorry, in my world re-spray and modifications means lowering at the very least and rattle can re-spray or spray booth and certainly not on a 55 plate car. More likely getting closer to 55 years old

Without derailing the thread, whats the car and what sort of modification are you thinking of. I apologise now if you have already considered this, but you will need specialist insurance as well. Your "High Street" insurers won't be interested as they don't understand or specialise in what you have done.

Mind you, as you would be going to a specialist it might not be a great extra cost. Just thinking about the unknown added extras that there always is with this type of project. I speak from experience :rotfl:

27col

It is hard to believe that this question was asked in all seriousness.
"I want to spend £3k on a car that is rapidly depreciating, just so it looks nice on my drive. By the way, I cannot really afford the repayments either."
Some people are just weird.

jonesMUFCforever

The more he posts the more I think he's trolling to be honest.

neas

Sorry lad I think you would be heading down a dark dark path. Go back to school, learn a good degree/trade and earn more money. Once you have a job where you can meet your financial goals then you can get the car of your dreams.

At the moment you are just dreaming and heading down a silly path of wasting money. Did you buy the car on a loan too? Otherwise how did you afford to scrape 3.5k together before?

fiestatdci

27col wrote: »

It is hard to believe that this question was asked in all seriousness.
"I want to spend £3k on a car that is rapidly depreciating, just so it looks nice on my drive. By the way, I cannot really afford the repayments either."
Some people are just weird.

Not being cheeky but you have no idea what money I have left once i have paid things i need to. As for the car, yes I know it depreciates. As I said i dont do it for profit. I had a car years back that I bought for £1000, I spent a wad on it and sold it 2 years later for £800.

Tixy

Linda32 wrote: »

whats the car

Bet its a fiesta tdci

Linda32

Tixy wrote: »

Bet its a fiesta tdci

Doh! I missed that, OH thought I meant a '55 chevy when I mentioned the thread to him

CKhalvashi

fiestatdci wrote: »

I see your point, I don't expect to make profit out of it though. That is not why I modify cars, i do it for personal enjoyment.

And assuming that you're reasonably young and are borrowing to do this, you'll have to borrow as your insurance premium will rocket.

Just ordering my latest toy with factory black wheels bumped my insurance price up by £200-odd, and I ain't that young!

Would a Fiesta TDCi look that cool pimped, anyway? I had an '03' plate one for 48 hours, (when it was brand new) and I have to say, it didn't have the power to pull itself.

Just remember that you're paying more than the premium you are now, as if you don't cough up to the insurer, you'll be invalidated and find it difficult to get insurance if you try to claim.

Driving with no insurance is 6 points and a £200 fine, plus you lose the car. Assuming you've had a license for less than 2 years, you'll have no license, no car and £3k extra in debt.

CK

ETA: It's a condition of employment for every one of my staff that they have a valid driving license (less than 6 points if in a company car). Even if you can't get to/from work, you'll still lose your job.

Have I put you off yet?