Bank says no - could lose new job

Bonfire_Bride

Definitely Car Share!

The first couple of weeks will be a struggle but hopefully you can find someone who drives close to the area you live (even if it takes you 10 miles closer).

Give them some money towards fuel while you save up for a vehicle. There are always ways to get there. It will be tough, but well worth it for a wage in the bank.

Congrats! :T

Pixie5740

Moneyineptitude wrote: »

A pay day loan is a recipe for financial disaster. As someone else pointed out, taking a taxi would be cheaper!

That depends on where you live. A £300 PDL from Wonga taken out for 31 days would cost £101 in fees and interest. Topcashback are doing cash back of £52.50 on Wonga loans so the PDL would cost less that £50 providing you paid it back on time and didn't take out another one. I couldn't get two taxis a day doing 15 mile trips for 5 days where I live for less than £50. Besides if the OP has no savings then he won't have money to pay for taxis unless he borrows it from somewhere.

If he could get a friend or family member to lend him some money for taxis or an old banger that would be a better option than a PDL but that might not be an option for him.

Bonfire_Bride wrote: »

Definitely Car Share!

The first couple of weeks will be a struggle but hopefully you can find someone who drives close to the area you live (even if it takes you 10 miles closer).

Give them some money towards fuel while you save up for a vehicle. There are always ways to get there. It will be tough, but well worth it for a wage in the bank.

Congrats! :T

This would be the best option if the OP can find people to car share with at his new work. I know quite a few shift workers who do this with great success as there isn't public transport running when they start and finish some of their shifts. The OP will still need to find some way of getting to work for the first week or so though until he can find a car share to join.

James_B.

cavework wrote: »

no matter how much training you get when it comes to riding a motorcycle ,at the end of the day it all comes down to experience learned while riding.
PS
what the heck are grip levels?
AHH you mean tyre adhesion to the road.. blimey I am getting old!
x

You seem to be suggesting that training does not matter at all, and we'll just have to agree to disagree there.

James_B.

Pixie5740 wrote: »

This idea will probably get shot down in flames but if cycling isn't an option and public transport is out (although I think this would be the best option if it's at all possible with your shifts) then you could get a PDL for a few hundred quid and buy a banger IF you are confident that you could repay the PDL in full on your first pay day and won't have to get another one to see you through the following month.

Usually I wouldn't advocate using a PDL but this might be an exception to the rule.

I think that that is a truly terrible idea. The OP has no idea if they will make it past the first week, and you are suggesting that they take on a loan that could destroy them financially if they get let go.

Have you not seen the stories on here of so many others who took out a loan, lost their jobs, and started on a spiral of debt that caused untold misery?

Pixie5740

James_B. wrote: »

I think that that is a truly terrible idea. The OP has no idea if they will make it past the first week, and you are suggesting that they take on a loan that could destroy them financially if they get let go.

Have you not seen the stories on here of so many others who took out a loan, lost their jobs, and started on a spiral of debt that caused untold misery?

I remember watching a programme with MSE Martin :money: on tv last year where he was discussing good debt and bad debt. Mortgage was good debt, taking out a loan for a holiday is bad debt, and buying a car on credit for a new job was a grey area and depended on your appetite for risk. On one hand if everything works out with the job it would end up being a good debt and on the other hand if you lost your job and were stuck with the loan it would end up being a bad debt.

If the OP borrowed money for a car and lost the job then they could always sell the car. Besides the PDL companies can't take what you don't have.

macman

Ask the bank's HR dept if they can advertise for a car share arrangement for you before you start? There must be a number of people employed there who don't have their own transport.

James_B.

Pixie5740 wrote: »

If the OP borrowed money for a car and lost the job then they could always sell the car. Besides the PDL companies can't take what you don't have.

Yes, for far less than they owe...

Pixie5740

macman wrote: »

Ask the bank's HR dept if they can advertise for a car share arrangement for you before you start? There must be a number of people employed there who don't have their own transport.

You need to be careful with that one. I once had a job where I had to work shifts. During the training one of the other new starts, who for some reason only just discovered that some shifts started at 7am, piped up and said, "7am!! I can't get in for then!" Needless to say he was returned to the recruitment agency that day. I'm sure if he'd just buttoned it he could have found some way around it.

Some employers seem to get jittery when new starts look like they'll struggle to get into work. Why waste money training them if they're not going to turn up on time?

Mara_uk7

Remember tho, Its not just money to buy the car, its tax, insurance & fuel too. I think Id try and taxi for the first week at least when public transport wasnt running, and talk to colleagues to see about fuel sharing. If its a biggish company, theyre may be someone travelling from close to you who would appreciate a fuel donation.
Dont give up before you start, and Well done on finding a job in the first place !

Jessica88

Wish you good luck for the new job! And don't give up, there will be a solution