Is it worth getting a loan?

Bigrachel

Hi,

I haven't had a chance to build up a lot of savings, however now I can start putting away 150 per month into a savings account.
My question is, my car is on its way out and I really need one for my kids etc. Do I get a loan and pay it back over 2-3 years, or do I scrimp like mad for the next 6/7 months and get one?
Are there any good deals on loans? I'm just worried about getting myself into debt!

Any advice appreciated,

Herzlos

How badly will you be stuck if it stops working one day?

I'd save up and assuming your current car is essentially worthless, hold out until you need to replace it. Every month you manage gives you £150 more in cash towards it or a deposit.

bengalknights

You could always try a cheap used car to see you through or a cheap pcp vehicle for 2 years if you want to go down the new route

MEM62

If you car is likely to last long enough for you to save up the do that. If you are worried about being in debt then avoid it - if only for your own piece of mind.