18 Y/o Car fiance please help

foxy-stoat

Buy a Gen 8 Honda Civic for around £2500-£3000 with good history. Get a loan or credit card that does a money transfer option.

You wont get a loan or car finance at your age with your salary and even if you do then your outgoings wont be £0.00 for ever.

Bit odd that you bought a Cooper Sport at 18 and the insurance only cost you £230 a month or thereabouts....Not even sure a Mini Cooper Sport was ever made -Cooper S maybe. They had known gearbox issues, but you must of known that.

No idea why you, being in the motor trader, bought an Audi with a DSG and expected it to last after buying your previous car which has known chocolate gearbox issue.

Good luck.

bigisi

foxy-stoat wrote: »

No idea why you, being in the motor trader, bought an Audi with a DSG and expected it to last after buying your previous car which has known chocolate gearbox issue.

Coz he iz 17 and knowz best innit!

foxy-stoat wrote: »

Buy a Gen 8 Honda Civic for around £2500-£3000 with good history. Get a loan or credit card that does a money transfer option.

Probably the best advice on this thread. Get the 1.4 petrol, cheap to run, easy to work on and will go on for a long long time yet if looked after.

MEM62

Jackh1 wrote: »

From my point of view finance is an only option. U say buy a 500 pound car and it will last but it's purely luck of the draw. I might get a cracker of a car I might get a heap. I can't take that risk. I've thought about it and it's a waste. I'm also half qualifiedechanic so going to view a car is a problem and yes it was a dsg box in the audi, nothing the eye could see or the ear could hear at the time unfortunately.
You are also right I could get a decent car for half that but the problem is when I'm running a car It would take me a long time to save up around 3.5k for a car half the price of around 7. And I need to be running a car. And the way I can afford this is by doing finance, but I don't see the point in getting my self stuck in a stiff situation like a finance deal with no way out constantly with the thought of this isn't the car I wanted but I'm stuff with It? So if I'm trapping my self so to speak why not do it with what I want.

As for my out goings at the time of my application I'll have no outgoings and if I get accepted only outgoing will be the finance, and fuel. Insurance will be paid outright aswell as tax. As for the car depreciating if its kept nice it won't. As the one I'm after is a limited model at only 444 Made.

Your first sentence tells us that you mind is made up. You are going to plough that furrow not matter what advice you are given. So although I am probably wasting my time I will offer a couple of points for you to consider anyway.

Firstly, you assumption that an expensive car is more reliable than a cheap one is fundamentally flawed. Clinging to this unsubstantiated fact is likely to lead you to spending far more on purchasing the car and then not being able afford repairs when a mechanical failure occurs because any spare cash will be going on loan repayments. You are then lumbered with an expensive car that you cannot use and a loan to service. Where do you go from there when that happens?

Thought No 2. If you are insistent on the loan; how much do you save each month? - and I mean each and every month. Wisdom dictates that is you are not saving regularly (showing you are living well within your means and have money left over each month) you cannot afford loan repayments.

Finally, once you have stitched yourself up with a long term loan that takes a significant amount of you monthly income there will come a day that you will want to do other things such as holidays with mates or maybe even leaving home, and won't be able to because you cannot afford it. At that point you will look at your car and hate it.

Craig1981

Jackh1 wrote: »

U say buy a 500 pound car and it will last

not quite what I said - I was trying to say exactly what you have said - luck of the draw. buying any second hand car could be good, could come with problems, regardless of the price

Jackh1

But there buying a car for a lot I don't want? Bring interested in cars and they all I have to spend my money on I want to be one I like enjoy and can grow into.

My cooper was cammed and had a short ratio layland gearbox. I bought the car. Everything looked fine. All past mot's were fine also. Then it broke. I knew it wasn't going to pass next mot with a subframe needed to be replaced. Against the point. Along with the audi. I looked for all the signs. Nothing. Then they strated happening.
I understand why getting a 1.4 makes sence obviously but u need to think Im a car enthusiast and want a car I love, and a reliable one at that if uou get me.

At the moment yes I am saving. I save around 80 pounds per week. A little less when tax comes out.

Jackh1

I don't mean to be blocked off to other views I respect them 100 percent and some have tiled my choice slighly. But my average calculations show that I can afford finance for the car say it was around 250-80 move out with my mate at a living cost of 130. And still have money after fuel and food. As I'll be paying tax outright. Aswell as insurance. My job is secure and pay will only go up if I move away. I will also have fall back money to pay my loan for 3 months if for some reason something happens (it wont) I also have spare mone incase the car breaks. Also the car I'm looking at my friend has owned since new. I've seen how he treats it. Know what's been done to it. All the cars common problems have been fixed before fail. Its just a case of will I be accepted? Will all my evidence

poppasmurf_bewdley

I was young once, and I can remember that a car was the first item I wanted when I passed my test. And I made a few mistakes.

I bought a Mini Cooper that was less than three years old, but it had been thrashed and cost me lots on repairs. I soon learnt that small cars wear out a lot quicker than bigger cars, and the car after the Cooper was a Ford Zephyr 6 with a front bench seat (smashing when with a girl friend up a dark country lane) which had a lazy six cylinder 2.5 litre engine and rear wheel drive, and hardly needed any remedial work in the 18 months I owned it.

So my advice to you would be to look at an early Mk4 Mondeo which should give you a trouble free period while you save up for something better.

Even my own son has now realised that Corsas and Fiestas are a waste of time, and now has my old 08 Mondy estate which has cost him only two front tyres to get it through the MOT last September.

dealer_wins

Jackh1 wrote: »

I don't mean to be blocked off to other views I respect them 100 percent and some have tiled my choice slighly. But my average calculations show that I can afford finance for the car say it was around 250-80 move out with my mate at a living cost of 130. And still have money after fuel and food. As I'll be paying tax outright. Aswell as insurance. My job is secure and pay will only go up if I move away. I will also have fall back money to pay my loan for 3 months if for some reason something happens (it wont) I also have spare mone incase the car breaks. Also the car I'm looking at my friend has owned since new. I've seen how he treats it. Know what's been done to it. All the cars common problems have been fixed before fail. Its just a case of will I be accepted? Will all my evidence

That will end up being spent on a good Fri night out.

Seriously dont kid yourself at 18 you will stick to a skinflint budget, it wont happen. Birds, boose, partying will eat your money (as it should at 18)

Rosemary7391

I suspect lenders will look at your claimed outgoings, make them up to something realistic and refuse you. Even if you currently intend to continue your current living situation for the duration of the finance (5 years?), it is dependent on the continued goodwill of others and a lot of things can change in that length of time - you might want to move out at some point! It's a really long time to tie yourself down.

Jackh1

Yeah not looking at rubbish corsas and fiestas atall. I'm looking at a mint Astra. Ofc vaux isn't the hallmark of quality but this one is different. Theese days it's not out or the ordinary for people my age to be getting new 2018 odd plate cars pushing 20k. I'm not the person who would rush into things atall. I've thought about this alot and I 100 percent beleive affordibility is a problem. More availability of getting accepted for a loan. As for booze etc mate I'm not really interested in any of that. I used to do all that alot but stopped because hated seeing my money go and not much to show for it. I go out on occasions but this is like a bi monthly even quarterly thing for me. I havnt drank or whatever since I strated driving as it's what I'm enthusiastic about