will_ainsworth
Member
Registered: 8th Jun 07
Location: London, UK
User status: Offline
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right ive never had a loan (18) and thinking about getting a loan of about 4k to get something nice.... im on about just under 14k a year and no real outgoings.
how much would the payments be from your exp etc... i would sell my cupra for around 4k and get something newer... so about 8k, bare in mind insurance!?? what would you get?
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DannyB
Premium Member
Registered: 6th Feb 08
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At your age you're gunna get raped on insurance on something fast, personally I'd wait till I was 21 before I got a loan for anything 'special'
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fir3vip3r
Member
Registered: 14th Jun 06
Location: Stevenage, Hertfordshire
User status: Offline
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think carefully about a loan in this economic climate, especially for something thats not essential
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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£4k over 3yrs would be around £135 a month on 10%-ish apr.
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Pete_vxl
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Registered: 24th Nov 06
Location: Lochgelly, Fife
User status: Offline
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A 4k loan at your age with no real credit history, you will be looking at around 14%+, depending on how many years you take it your payments will be around 130-160.
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M666TT C
Member
Registered: 17th Jun 08
Location: Orpington, Kent
User status: Offline
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your 18 and have a 1.8 turbo cupra....
count yourself lucky mate and dont strap yourself up... its not worth it in the long run...
i cant even get insured on a 1.6!!! (9 points and only 20 years old...)
hmph.... jealous lol
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Dan Lewis
Member
Registered: 31st Jan 05
Location: Leicestershire
User status: Offline
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i am spending £135 on a 5k loan over 3years with 1.3k of that being interest
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will_ainsworth
Member
Registered: 8th Jun 07
Location: London, UK
User status: Offline
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yeh i know im lucky, well ive earned it all for myself, just not much i really like the looks of around the same price braket as the cupra.... i never get round to modding my cars much, have plans and never do it, i miss the handling of the gti.. but dont want a older ragged french car.
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will_ainsworth
Member
Registered: 8th Jun 07
Location: London, UK
User status: Offline
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i could pay 300 easy each month. i only plan tohave the loan for a year ish
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DannyB
Premium Member
Registered: 6th Feb 08
User status: Offline
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Just save up then?
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John
Member
Registered: 30th Jun 03
User status: Offline
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Just get the loan, if you can pay it back who cares how much it costs, just don't get a car on al finance without a deposit or you'll never pay it off and be stuck with the car long after you get fed up.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Dan Lewis
i am spending £135 on a 5k loan over 3years with 1.3k of that being interest
Youd not even pay off the 5k over 36 months paying 135 
36x135 = £4860
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sand-eel
Member
Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
User status: Offline
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mate has a loan of 5K and he is paying about £150/month over 3 years i think.
[Edited on 12-01-2009 by sand-eel]
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Twiggy
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Registered: 15th Oct 04
User status: Offline
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bank of mum and dad??
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Wrighty
Member
Registered: 28th Feb 04
Location: Howden
User status: Offline
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450 a month saw off a loan of £4k in a year...2k payed by months payments...rest went into my isa and got payed back at the half way point.
took it over 2 years mind
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antmashed
Member
Registered: 2nd Aug 06
Location: Hertford
User status: Offline
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astra gsi
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Dan Lewis
Member
Registered: 31st Jan 05
Location: Leicestershire
User status: Offline
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quote:
Originally posted by Colin
quote:
Originally posted by Dan Lewis
i am spending £135 on a 5k loan over 3years with 1.3k of that being interest
Youd not even pay off the 5k over 36 months paying 135
36x135 = £4860
how fucking wierd. I just got my agreement out and its £135.92 a month for 36months with a value of £5193.12 how bizzare!!
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will_ainsworth
Member
Registered: 8th Jun 07
Location: London, UK
User status: Offline
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its annoying thers cheaper cars i like but just prob wont get insurance
like this... http://www.pistonheads.com/sales/790250.htm
but prob wont get insurance.
same as scoobs etc
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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I just paid my loan off 2 yrs early, going to go a few months debt free I think then sell up & get ticked all over again.
Vicious cycle 
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Dan Lewis
quote:
Originally posted by Colin
quote:
Originally posted by Dan Lewis
i am spending £135 on a 5k loan over 3years with 1.3k of that being interest
Youd not even pay off the 5k over 36 months paying 135
36x135 = £4860
how fucking wierd. I just got my agreement out and its £135.92 a month for 36months with a value of £5193.12 how bizzare!!
Final payment?
Id keep it to yourself. Weird if its an error, very unlikely to happen as its all computor controlled & checked & double checked.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by will_ainsworth
its annoying thers cheaper cars i like but just prob wont get insurance
like this... http://www.pistonheads.com/sales/790250.htm
but prob wont get insurance.
same as scoobs etc
CTR much different from a beetha cupra to insure??
Id stick with what you've got tbh, like you say insurance is an issue, your 18 & have a smashing car as it stands. I dont think you'll do much better without a large spend. Being debt free is nice also.
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AndyCorsaSport
Member
Registered: 12th Feb 06
Location: Horsforth, West Yorkshire
User status: Offline
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My mates 19, and has a 54 plate Type R. Cant remember how much he pays on insurance, but he can afford it very eisily.
I got a £2.5k loan at 18 and pay back £151 a month over 2 years works out at £3624
Regret it quite a lot tbh, struggle to pay it on apprentice wage, but it finishes in 4 months, and ill qualify around the same time, so will have nearly twice as much wage, and no loan to pay off.
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will_ainsworth
Member
Registered: 8th Jun 07
Location: London, UK
User status: Offline
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quote:
Originally posted by AndyCorsaSport
My mates 19, and has a 54 plate Type R. Cant remember how much he pays on insurance, but he can afford it very eisily.
I got a £2.5k loan at 18 and pay back £151 a month over 2 years works out at £3624
Regret it quite a lot tbh, struggle to pay it on apprentice wage, but it finishes in 4 months, and ill qualify around the same time, so will have nearly twice as much wage, and no loan to pay off.
what company is that with?
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AndyCorsaSport
Member
Registered: 12th Feb 06
Location: Horsforth, West Yorkshire
User status: Offline
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That was just with my bank, im with Natwest
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will_ainsworth
Member
Registered: 8th Jun 07
Location: London, UK
User status: Offline
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i mean the insurance lol
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