We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Deposit from a loan?
Comments
-
I have had a loan for the last 4 years & it is due to run out this year so I will be getting a new one anyway to replace my car so what would be the problem If I just used some of this loan for a deposit?
Why not simply keep your existing car longer. Use the money saved from not having a loan to service to boost your deposit, i.e. HTB ISA.0 -
not money saving to get a new car, no shame in having an old banger that does the job. Your shiny new car will drop in value once you drive off the fore court and will have lots of scrtaches and stone chips over time, so won't be shiny anymore.
A house on the other hand generally will stand to the test of time and usually go up in value and if maintained well outlast your car many times more"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards