Loans for Students

megan2002

Hi , My daughter is full time Uni and works PT in NEXT and is trying to get a loan of £750 to £1000 for a car however can't seem to be accepted.  How can she do this ?

[Deleted User]

The short answer is she needs to earn more. She also probably suffers from a thin credit file.

Her quickest option is probably just to save the funds. Remember that she'll also need to cover insurance and so on.

Ebe_Scrooge

As above, she'd be far better just saving up for the car - even just working part-time, it's not going to take long to save up £1000.

And, as previously mentioned, don't forget the other costs associated with a car - tax, insurance, MOT.

And whilst I applaud the intention of buying a cheap runaround (eminently sensible) rather than spending tens of thousands on a shiny new car - you've got to accept that a car in that price range will need some repairs in the not too distant future.  These won't necessarily break the bank, but you've got to budget for them.