Does this sound like a good deal?

hieveryone

A quick look at Sainsbury's online loan calculator throws up these figures:

Loan amount - £14,500
Term: 60 months
Payments: £273.53

Total repayable: £16,411.80



Would this not be an option for you?

bodgerx

hieveryone wrote: »

A quick look at Sainsbury's online loan calculator throws up these figures:

Loan amount - £14,500
Term: 60 months
Payments: £273.53

Total repayable: £16,411.80



Would this not be an option for you?

If the OP has designs on a mortgage, more debt isn't really an option.

smashingyour...

bodgerx wrote: »

If the OP has designs on a mortgage, more debt isn't really an option.

Plus the deals been done.

Daniyella

bodgerx wrote: »

That isn't how you explained it originally.

You said the negative equity was being absorbed into the new finance deal.

No matter how you cut the new lower monthly payment, with information you provided you are headed down another path where you are owing a lot more that the car is worth for a very long time. That isn't sustainable...

The situation has changed since i posted, the negative equity was sorted out by the in-laws.

OddballJamie

Would've been more sensible for the in-laws to help you towards buying the house rather than the car.

Also surprised you haven't considered a new Dacia with a seven year warranty rather than a car that's already three years old. Even has the same engine.

hieveryone

bodgerx wrote: »

If the OP has designs on a mortgage, more debt isn't really an option.

Ah, wasn't aware of a mortgage application. Although, debt through a PCP deal and a loan are one and the same, no?

Daniyella

The car debt wont be in our name hence so that we have no debt and be able to get our mortgage, my parents are helping towards the mortgage with a lump sum so we are ok there

Dacia... i think ill pass on that thanks and the car we have bought is only 8months old!

OddballJamie

Can't beat a bit of mortgage fraud.

There's a reason why mortgage companies use affordability calculators.

smashingyour...

Daniyella wrote: »

The car debt wont be in our name hence so that we have no debt and be able to get our mortgage, my parents are helping towards the mortgage with a lump sum so we are ok there

Dacia... i think ill pass on that thanks and the car we have bought is only 8months old!

Loving the fir coat and no knickers attitude.

It's more important to have flash car and a mountain of debt to you so the new neighbours will be impressed when you move in.

Who'll be laughing loudest when it's all repossessed?;)

gilbert_and_sullivan

Been a good thread, how to run close to the wind and pee previously hard earned inheritance up the wall, those who bequeathed the money would be proud to see it wasted.

This, children, is how not to run your lives...or rather how you live your life on the paying interest through the nose treadmill for the rest of your naturals, still such people allow money lenders with Bentleys to live in large gaffs in Lightwater.