Loan suitability

DCFC79

heartbreak_star wrote: »

dstev, if I may, I believe you are very unlikely to get the loan for £15k and think you can get very reasonable cars for under £5k. Would this be an option?

He's intent on spending 15k on a car so its not an option. We have already been told off for telling him what amount he can spend on a car.

heartbreak_star wrote: »

Please listen to some of the posters on here. Even better, please pop over the the DFW board and read a few of the stories on there.

HBS x

I have a feeling this will fall on deaf ears and as such the OP will do want he wants but a gold star for trying.

heartbreak_star

Thanks DCFC79. I just he sounds like me about twelve years ago...ten years ago I found out I was up !!!!!! creek and I'm still upgrading my paddle.

HBS x

dstev

heartbreak_star wrote: »

dstev, if I may, I believe you are very unlikely to get the loan for £15k and think you can get very reasonable cars for under £5k. Would this be an option?

Please listen to some of the posters on here. Even better, please pop over the the DFW board and read a few of the stories on there.

HBS x

Thanks for the advice, I have just done exactly that. After a rethink I decided I'd rather save the money I was going to spend on an expensive car and buy another house in a few years time. Just bought a new car for £4600 that should hopefully do me for a few years. Cars are a passion of mine, but unfortunately the car I want is just going to have to wait.

I appreciate what people are saying on here and most of you are probably right, but could I PLEASE ask that you try and be less derogatory and a bit more welcoming to new people going forward. Not at one point did the fact that people were telling me I wouldn't get a loan get my back up, but obviously giving me the 3rd degree about my morals and priorities did and probably will others too.

eschaton

dstev wrote: »

Thanks for the advice, I have just done exactly that. After a rethink I decided I'd rather save the money I was going to spend on an expensive car and buy another house in a few years time. Just bought a new car for £4600 that should hopefully do me for a few years. Cars are a passion of mine, but unfortunately the car I want is just going to have to wait.

I appreciate what people are saying on here and most of you are probably right, but could I PLEASE ask that you try and be less derogatory and a bit more welcoming to new people going forward. Not at one point did the fact that people were telling me I wouldn't get a loan get my back up, but obviously giving me the 3rd degree about my morals and priorities did and probably will others too.

People were only trying to help you.

You living a life of debt will have no effect on anyone on here apart from yourself.

Maybe they could see what you were looking to do was financial suicide.

When you get to the stage that you can save up and actually buy a car without borrowing then you will appreciate having a car a lot more.

Apples2

eschaton wrote: »

When you get to the stage that you can save up and actually buy a car without borrowing then you will appreciate having a car a lot more.

I would aslo point out to dstev that spending loan money is easy. Spending saved money is much more difficult.

If the day comes that OP (or anyone else in this position) manages to save £15,000 in the bank.....Wild Stallions couldn't drag you into a dealership to hand the whole lot over for a car leaving you back with £0 (and you don't even pay extra Interest).

eschaton

Apples2 wrote: »

I would aslo point out to dstev that spending loan money is easy. Spending saved money is much more difficult.

If the day comes that OP (or anyone else in this position) manages to save £15,000 in the bank.....Wild Stallions couldn't drag you into a dealership to hand the whole lot over for a car leaving you back with £0 (and you don't even pay extra Interest).

That is so very true :rotfl:

I was thinking of buying a car on Sunday there. Cost would have been around £8k after trading in existing car for approx £15k but I couldn't bring myself to do it.

I did once hand over my last £26,350 for a car that left me with nothing but these days I won't spend money on a car unless I still have a good safety net left over.

To spend £15k on a car to leave you at -£30k is unthinkable - especially when you have a house like OP. Anything goes wrong = homeless.