ianofbhills
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Registered: 10th Feb 01
Location: newcastle
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its not really debt if you can afford to pay the monthly payments tho i think.
its more like spreading the cost of something over a long period.
how would you be able to afford a nice car or a house if you didnt borrow money.
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Colin
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Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Robin
It's a great feeling knowing that you no longer own the car you threw thousands of pounds at and are still paying for 
£9k on the yellow corsa????
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Colin
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Registered: 4th Apr 02
User status: Offline
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Ive never had a loan & never had a credit card, well I have but never used it & it got cancelled for being inactive ove 3yrs or something 
I had £10k of car finance at when I was 19 & a bit dimm I later worked out I was paying like £60 a month interest, sold the car after a couple years & luckly got enough to pay it off. I wouldnt take car finance ever again!!
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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quote:
Originally posted by Colin
quote:
Originally posted by Robin
It's a great feeling knowing that you no longer own the car you threw thousands of pounds at and are still paying for
£9k on the yellow corsa????
Loan was for 8k, over 5 years.
I spent about 5k on the car and 3k on shit.
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Jules S
Premium Member
Registered: 24th Dec 03
User status: Offline
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quote:
Originally posted by Aj.
I find it hard to understand how people get in to this sort of debt. If you can't afford something then dont buy it...save up for it. Simple
So you are going to save up to buy your house yes? 
The loan I have which is soon to expire furnished my flat.....So I had no choice in the matter really 
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Colin
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Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Robin
£9k on the yellow corsa????
Loan was for 8k, over 5 years.
I spent about 5k on the car and 3k on shit.
WOW You have nothing to show for it now??
How much do you pay back in total??
I think theres a lesson to be learned here..............just not sure what
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Colin
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Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Jules S
quote:
Originally posted by Aj.
I find it hard to understand how people get in to this sort of debt. If you can't afford something then dont buy it...save up for it. Simple
So you are going to save up to buy your house yes?
The loan I have which is soon to expire furnished my flat.....So I had no choice in the matter really
Thats very true, you sometimes have no option but to take a loan, if like you need to furnish your house or something Which is fine so long as you have a means of paying it off!! Its the folk that are in their early 20's & have £20k+ of debt with nothing to show for it that I dont get!!
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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£12508
The lesson is DON'T get a loan to modify a car and then waste the money
Or, don't get a loan
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Colin
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Registered: 4th Apr 02
User status: Offline
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Although in saying that it depends on what approach you take, you can go all out & get a £3000 couch & get the best of stuff & yes it will be very nice but you will be paying for it for a long time, or you can go to ikea, pay up front & get cheap stuff & not feel guilty throwing it out in 18 months when the style changes.
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Colin
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Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Robin
£12508
The lesson is DON'T get a loan to modify a car and then waste the money
Or, don't get a loan
That is harsh man 
Amen to that, dont get a loan to modify a car!!
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ajscorsa
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Registered: 30th Apr 02
Location: Perceton, North Ayrshire
User status: Offline
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i got a loan bought a car smashed it to bits and got way less from insurance than my loan so my crash cost me like a £1000
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Rachel H
Member
Registered: 12th Nov 03
Location: Berks
User status: Offline
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But you don't work Robin how the hell do you pay it
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Nismo
Member
Registered: 12th Sep 02
User status: Offline
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quote:
Originally posted by Aj.
I find it hard to understand how people get in to this sort of debt. If you can't afford something then dont buy it...save up for it. Simple
All these debt busting adverts on tv really piss me off....its the muppets who want something they can't have, they borrow more then they can afford and get into stupit amounts of debt.
this makes me laugh.
I expect that you own no credit cards, you pay your insurance off in 1 lump sum (as instalments is actually a loan) you will never own a house as a mortgage is a loan!
have fun living at home the rest of your life 
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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I have a mortgage but everything else gets paid upfront or I dont get simple as that
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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quote:
Originally posted by Rachel H
But you don't work Robin how the hell do you pay it
My mum is at the moment 
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Rachel H
Member
Registered: 12th Nov 03
Location: Berks
User status: Offline
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Your living the dream Robin
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TNM
Member
Registered: 5th Apr 04
Location: Nottingham Drives: VW Tiguan
User status: Offline
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quote:
Originally posted by Rachel H
Your living the dream Robin
Robin is a dream
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Nismo
Member
Registered: 12th Sep 02
User status: Offline
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I live for today, i could not be here tomorrow.
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mav
Member
Registered: 19th Jun 01
Location: Scotland
User status: Offline
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quote:
Originally posted by Nismo
quote:
Originally posted by Aj.
I find it hard to understand how people get in to this sort of debt. If you can't afford something then dont buy it...save up for it. Simple
All these debt busting adverts on tv really piss me off....its the muppets who want something they can't have, they borrow more then they can afford and get into stupit amounts of debt.
this makes me laugh.
I expect that you own no credit cards, you pay your insurance off in 1 lump sum (as instalments is actually a loan) you will never own a house as a mortgage is a loan!
have fun living at home the rest of your life
I agree here Aj thats a total blinkered view you have..Unless you have a lot of cash behind you I can't see you going through life never having a loan / finance / mortgage..
Dunno maybe your a secret millionaire
I don't mind loans / finance etc as Long as you are sensible and can afford the repayments...
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John_C
Member
Registered: 5th Mar 03
Location: South east, Bromley
User status: Offline
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loans have their place, just dont get one with silly interest rates, they're the killers.
etc dfs with their 0% interest rates for 2 years is a good deal
credit card on 20% not a good idea
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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never had a loan or finance or credit card
pay cash for everything
only thing i do have is a student loan (which is different) and would have to get a mortgage but will put 20k down deposite
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Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
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quote:
Originally posted by Jules S
quote:
Originally posted by Aj.
I find it hard to understand how people get in to this sort of debt. If you can't afford something then dont buy it...save up for it. Simple
So you are going to save up to buy your house yes?
The loan I have which is soon to expire furnished my flat.....So I had no choice in the matter really
i brand a loan and a mortgage (which i already have btw) as different
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mav
Member
Registered: 19th Jun 01
Location: Scotland
User status: Offline
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The only difference is you can make money on the mortgage / house which is fair enough..
If you go through your whole life NEVER taking any sort of credit / loan / finance etc well good on you...I know I couldn't..
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Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
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quote:
Originally posted by Nismo
quote:
Originally posted by Aj.
I find it hard to understand how people get in to this sort of debt. If you can't afford something then dont buy it...save up for it. Simple
All these debt busting adverts on tv really piss me off....its the muppets who want something they can't have, they borrow more then they can afford and get into stupit amounts of debt.
this makes me laugh.
I expect that you own no credit cards, you pay your insurance off in 1 lump sum (as instalments is actually a loan) you will never own a house as a mortgage is a loan!
have fun living at home the rest of your life
I have a credit card, i have a mortgage on my flat, i own my car (no payments) and yes i do pay all insurances off lump sum.
i have a pretty good life i think. i came home from snowboarding 2 days ago and am going to Australia for 3 weeks in summer. No loans needed thanks...all paid for by me. 
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Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
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Oh and I think you might not have understood me.
I get pissed off with the people who borrow money and can't pay it back.
Fine if you have planned your re-payments and you know where the money is coming from.
Just to clarify
[Edited on 06-02-2007 by Aj.]
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