Cant get a loan and I need one urgently

Mara69

fiestatdci wrote: »

Yeah its for a respray and some other modifications. I've got my heart set on it and already picture it sitting in the drive. A lot of you wont understand but cars are my life.

Oh Jesus Christ. Give me strength.

optimistic-mummy

fiestatdci wrote: »

Yeah its for a respray and some other modifications. I've got my heart set on it and already picture it sitting in the drive. A lot of you wont understand but cars are my life.

my son is my life, but i wouldn't spend £3000 on toys for him that i couldn't afford ....

Thomas_The_Tank_Top

optimistic-mummy wrote: »

my son is my life, but i wouldn't spend £3000 on toys for him that i couldn't afford ....

You should be called sensible-mummy.

optimistic-mummy

Thomas_The_Tank_Top wrote: »

You should be called sensible-mummy.

tbh i should be called young-mummy considering i was only 16 when i had my son and only just over 20 now..... even i look at people my age and want to scream at them for wasting money on 'stuff' and paying it back 10 years later... yes im in debt but most of it was because my parnter lost his job and it was the only way i could feed my child ... he was luckly only unemployed for 10 weeks. he got another job before we had even recieved any help, my point ... oh and i have littlewoods ... because my son needed new clothes when my partner was unemployed and i didnt have the cash to buy them, if he hadn't of been laid off and then lost his job compleatly we wouldnt be in debt, but thats life, i have never paid minimum on our debts and never plan too plan to have it all paid by march 2013.
my point is if you cant afford it .... dont buy or do it ... save up untill you can afford it .... i would love to take my LO on holiday so we are saving up for it x sorry for the long post .... i know if i had got into debt through wasting money i would be kicking myself years later.... i get upset now but most of our debt couldn't be helped ....
you learn in life as you go along hopefully OP will look back in years to come and learn from it

optimistic-mummy

tbh when i saw the title my first thought was that you needed the loan to pay off debt collection agencies ect to prevent being repossessed .... then again they always say dont judge a book by its cover

at least your not running into debt by getting high i suppose .... could i ask how old are you OP ?

Netwizard

Some of the replies in this thread are a little harsh. I don't think anyone should go calling anyone here names just because of how they chose to spend their money.

I'm a total petrolhead. I love cars, and I consider myself lucky that I have a half decent job that has enabled me, over the years, to have very nice cars.
When I first passed my test at 16, I always wanted a Honda S2000. It was my realistic dream car. Even when I hit 21, I wanted one badly but insurance premiums were still £2k+. Its dead money to pay that much for insurance, and I convinced myself to wait until premiums were cheaper. I managed to get one a few years ago, and enjoyed a few years of blasting around!

I guess what I'm trying to say is I understand how the OP feels about wanting something.

That said, This is a very bad idea, and I know that no matter what anyone says, the OP will still want to do this, but quite why so many people spend mad amounts of money modifying cars is beyond me.

Some modified cars look great, but I always think that if your going to modify a car, then you should start off with a good base car first. A fiesta tdci is not a good base car imo. a Fiesta ST would be better.

Also, like others have said, the modifications will have quite an impact on your insurance (even though most younger people don't bother declaring them), but if your going to spend that much on mods, it would be unwise not to declare them.

If its really what you want to do, go for it, but you may look back in 5-6 years and realise that if you had just left your car standard and saved the money, you could have a nice boxster or 911 sat on the drive, instead of trying to polish a turd

DCFC79

Netwizard your a bit late with your reply although it is helpful as you understand his pov. The OP got some of the money from the bank of mum and dad.

lovinituk

Netwizard wrote: »

When I first passed my test at 16,

How many years ago was that?! :eek:

Carlos77

As a petrolhead too, i can see the appeal of wanting to have the car exactly as you dream it should be, and i've been in that position where i have a dream list of modifications that i want doing to make the car perfect. However, when modding cars, unless you have a big chunk of money burning a hole in your pocket, its probably best to do it bit by bit as you save up, as you can slowly see your car improving in front of your eyes, and you appreciate each individual modification you make, rather than having it all in one lump.
Ive personally had a fair few performance vehicles(currently have a couple of Triumph sports bikes, an M3 and a Jaguar), but have only ever had a loan out once for a car (purchase), and have sworn not to do it again, as it was just a millstone round my neck for such a long time. I really want to upgrade the M3 to a Nissan GTR, but thats not going to happen until the cash is sitting in my account. Its a fantastic feeling paying cash for things, and not having to worry about repayments.

Maybe a better idea would be sell your car, and buy one that someone else has already modded and save yourself a couple of grand!

flossypops

Hi all,
I'm new to this site, just saw this and had to comment. My boyfriend is OBSESSED with his car, but if he suggested spending £3k on mods I'd be furious!

I'm only looking on here because I've applied for a loan myself- I use my car to get to work every day (25 miles each way) and my poor car (owned outright) is breaking down every month and costing me a fortune in fuel. I'm looking at buying a newer car that is much more fuel efficient and have worked out that with a loan I can pay off my credit card (used for essential home repairs and non-essential improvements) and purchase the car. I have been umming and ahhing over this hence browsing the forums. My loan repayment will equate to the money saved in fuel each month and the car I have chosen will not cost me anything in road tax (saving £160 p/year).

I wish that I didn't have to do this but at the moment I am relying on other people all the time to take me to and from work-public transport is nearly impossible and would be unsafe considering the late shifts I have to do twice a week.

To the OP-I know you love your car, I (sort of) get the obsession-but if it's not going to be essential to day-to-day life and you can't afford it then you shouldn't borrow so frivolously!

I hope you see sense and pay your parents back!