its too easy to get a loan :(

Why do so many people say not to get a loan? If the lad needs a car then get a loan to pay for it. The only thing to remember is, as pointed out, that you dont only repay the capital element of the loan you also pay the interest. Do a search but my advice would be to pick a kwell known company, someone like Northern Rock etc.

The problem I see with people saying not to get a loan is becasuse they cant manage there own finances. I had a £8,000 loan for my car over a four year period. I sold the car after 3 years and was £400 short between what I owed on the car and what I sold the car for. When I was thikning of selling the car I knew that the car wouldnt cover the whole loan so I saved up enough to cover any shortage. I was driving round in a nice car which I was paying for over 4 years. The repayments were well within my budget so there was no problem at all.

if you only want a small loan tbh theres not much point , why not just save really hard for a few month and have the money there.

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Originally posted by Ally

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Originally posted by SRi-Co
I have a mortgage :lol:

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So do i, but its an investment (which i keep telling myself!) :lol:

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i got a 6k loan (repaying around 6,600 over 5 years).

Would never do it again. If i can't save for it then i can't afford it.

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Originally posted by SRi-Co
I have a mortgage :lol:

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I have a mortgage :lol:

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Originally posted by --Dave--
I agree with Ally.

I am still paying back a loan that I got for my Corsa C. Which I've now sold :| 116 a month for the next 3 years. :(

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I agree with Ally.

I am still paying back a loan that I got for my Corsa C. Which I've now sold :| 116 a month for the next 3 years. :(

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Originally posted by Ally
Bank of mum and dad is the best place as its 0% interest :lol:

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Unless its an absolute necessity then dont

Say you get a 3k loan, its not a 3k loan its a 3800 - 4000 loan.

So you buy somthing for 3k (car) and for the next 3/4/5 years you pay for that loan, and buy that time the car will be worth less then half of the cost of the loan!

Bank of mum and dad is the best place as its 0% interest :lol:

if you are sensible loans are fine and most times necessary not all people can save up

Nothing like good old fashioned saving.

You'll only end up in trouble with a loan like most others on here from the sounds of it :lol:

NO. Do not get a loannnn!

Im in need of a car soon and can't stop thinking about a smoke grey gsi I need to get one :|:o

is it worth taking the loan out?

ye dead easy to get loans. banks and finance companies wer stupid enuf to give them to me :|

tho i definetly wudnt recommend them :(

try money supermarket

I wouldnt get a loan at my age, depends how long u want to pay it back over etc ....

How easy is it to get a loan? Did any of you get loans at 19? I want to get out a £3,000 loan if possible. How much do you think i'd be paying back? And how much monthly? How big loans did you get at 19 and are they hard paying back?

Cheers :wave::thumbs: