Finance options for 13 year old banger

System

Qwertyuiop - I propose paying no more than 10%, reluctant even at 8%, I wouldn't accept the kind of rates it's been revealed that logbook loans tend to charge

qwert_yuiop

Even that strikes me as optimistic.

System

It is, but not unreasonable for the statistical average of 100 years of small cap (12%) - odds of losing out somewhat do exist but for such a small loan it would be affordable

wgl2014

MatthewAinsworth wrote: »

It is, but not unreasonable for the statistical average of 100 years of small cap (12%) - odds of losing out somewhat do exist but for such a small loan it would be affordable

....whilst also making the potential returns tiny?

System

Yes but a mildly favourable bet, one you can afford on a small amount

arcon5

You give some good reasons financially for driving a banger instead of a newer Car, however the fact your here looking for advice on taking out finance against it suggests you don't drive one by choice but by necessity.

None the less you now know log book loans are part of the high risk high interest market

System

Arcon - I'm looking to borrow in general because I'm an investor and I hope to profit from money that isn't mine, I'm not adverse to having debt, i.e. mortgage and 0% credit cards if I can outperform them

Graham_Devon

MatthewAinsworth wrote: »

Arcon - I'm looking to borrow in general because I'm an investor and I hope to profit from money that isn't mine, I'm not adverse to having debt, i.e. mortgage and 0% credit cards if I can outperform them

Good luck.

Rather you than me. The risks if you are unable to carry out this mystical trick of beating most other investors have the potential to destroy you (and others) financially for the rest of your life through bankruptcy.

The rewards, from everything you have posted are miniscule.

System

I don't need to beat other investors, or the index, just beat the debt interest, that's all. Debt is dangerous, and I use it with respect to that danger, for example I won't use a margin loan because I don't want the investment to be marked to market, I don't do buy to let because I can't yet afford that level of concentrated risk

arcon5

The idea of using other people's money to invest is it's their capital at risk. Whether you win or lose you have to pay the money back so no point paying to borrow money if you can instead use free money of your own