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need a loan for £1000 / £1500 (student)

cduuffo13
cduuffo13 Posts: 119 Forumite
i passed my driving test, i am a full time student, and i now wnat a car.

i work 2 x a week 8 / 7 hours get paid £70 a week. ive only worked for 2 weeks at the moment so i have £140 buti owed some of this out so now i only have £80. anyways

i am looking for a small loan for a car to get me to work as it costs me £9 each time in a taxi.

can anybody tell me (approximetly) monthly payment of a £1500 loan? and where would be the best place to get it? thanks.

= Problems =

worried about car insurance monthly = £80 / 90 monthly + (LOAN Direct Debit) what ever it is. i think i should be ok though. thanks

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    you will probably need to budget
    insurance 1000
    car tax 120
    MOT 50
    servicing/repairs 150
    rac/aa 40

    so lets say 1310 per annum or 110 per month

    although i think you will find it difficult to get a loan but if you did and repaid it over a year at say 15% apr then it would cost about 135 per month and lets add 50 for petrol so its going to cost you £295 per month.
    Are you sure you are going to keep the job for a year..what would happen if you gave it up .. you would still be left with these costs.
    have you considered a bike?
    so each month you would pay
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