Student chances of getting car finance

somethingcorporate

Crikey, £4k on a car + finance and you don't even have any income yet!

We have a household income north of £10k a month and have never owned a car worth more than £2k.

Get your priorities sorted and live within your means.

colino

Unfortunately there is a worrying re-emergence of sub-sub-prime financiers who will offer deals to anyone (including benefits only households).
Don't be daft, the cars are already over-priced, the back-up will be non-existent, as soon as you drive away, the car will fall off the cliff in depreciation, yet the money you owe on it will be often more than double the screen price.

buglawton

Herzlos wrote: »

Or because you can buy and run a cheap car for the cost of a deposit on most financed cars.

Not disagreeing.
But my comment was strictly to LandyAndys's post.

londonTiger

a car will be a huge burden on a student. cost of the car is relatiely small compared to car tax, insurance, fuel, service & maintenance.

I knew a guy at uni who bought a car and then had to work just to keep up paying for the car.

Gavin78

I see plenty of students these days driving around with cars newer than I could afford and they have a cheek to moan about student fees at 9k a year. they must have been rolling in it when fees were at rock bottom before this then.

macman

Hmm. No income, and no indication of how the loan would be serviced.
Presumably not a student of economics or accountancy then?

F1F93

Why so pricey? My wifes first car was a Honda Jazz for£3000. My first car was a Focus for £5000. The Jazz was far more reliable, we only got rid of it becaise someone wrote it off. We were very tempted to buy another for the same price. Never broke down, cheap to run. What more could you want?

buglawton

Bird pulling power. The Reliant Robin I had as a student didn't quite cut it for that!

SilverSaloon

most students should buy a car within their means. Buy an old banger for under £1000.

what you propose is crazy and setting yourself up for a life in debt with that attitude.

live within your means. You are a student with no income or job. Your ideal car is either a bus ticket or an old banger.

scaredofdebt

I'm 45 years old, if I could have my life again, the first thing I would change is debt. I would never take on any debt unless I really had to, or it made economic sense. I have spent my entire adult life paying off debt, what a waste.

You can buy a car for £1,000 and run that for a year or so, depending on your mileage it could well last you 2-3 years. Your main problem will be the cost of insurance.

Hopefully by the time the car is needing replacing you will be earning and can put some money aside to buy the next car.

You won't listen to this advise as I didn't when I was your age, but I regret it now!