Huwsi
Member
Registered: 27th Apr 07
Location: Bangor, Gwynedd
User status: Offline
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All i have is my student loans but i haven't spent a penny of them yet and the money is in a high interest account 
Plus i have more loans coming my way in the next two years so you could say i'm making money on them too 
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JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
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erm...... atm £0
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Ive got about £3k bank loan I used to buy my golf, I didnt need to but took it as I thought it would be better to pay a little a month this time than dip my savings which using my sensible head I need to keep hold of for other things, even if it means paying slightly more for the car in a round about way. My savings will earn me more in interest during the period of the loan than the loan cost itself anyway! I plan to sell the car in around a year, pay whatever finance is left (prob around £2k) & use the rest towards either a house move or if that doesnt take off a new car - BMW of some description.
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Vaux Lad
Member
Registered: 15th Dec 04
Location: Stoke-on-Trent
User status: Offline
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quote:
Originally posted by Daniel_Corsa
Can't afford it, don't have it!
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Vaux Lad
quote:
Originally posted by Daniel_Corsa
Can't afford it, don't have it!
I used to say that, though loans arnt always bad, sometimes it makes sence to borrow money insted of spending your own. For example if you can borrow at a lower APR than you can save. Agree if your skint then debts not a good idea, you'll just get into a bigger hole!
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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If you cant afford it dotn have it doesnt really work when you buy a decent car or a house though does it 
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Vaux Lad
Member
Registered: 15th Dec 04
Location: Stoke-on-Trent
User status: Offline
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A house, fair enough.
But a car you can save for.
Its the reason so many people are in debt nowadays, buying above there means/needs, due to so many places offering loans, and credit cards etc.
[Edited on 02-05-2008 by Vaux Lad]
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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I agree to an extent. But for example even if you earn a very decent wage, how long would you have to save for to pay for a £30k car??!
If you can affrod monthly payments its not living above your means.
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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I got my car on finance, I bought a £700 Escort and it failed the Taxi MOT which is stricter than a normal MOT, sold it on for £800 and got a Mondeo, justified it as it was a business expense rather than just for a laugh.
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Diff
Member
Registered: 24th Oct 04
User status: Offline
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Completely agree Jambo....people drving 50k range rovers are not seriously going to have saved 50k...lifes too short....
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Jambo
I agree to an extent. But for example even if you earn a very decent wage, how long would you have to save for to pay for a £30k car??!
If you can affrod monthly payments its not living above your means.
Nothing wrong with that, its the folk that cant afford but must have & stretch themselves to get it thats the problem.
Just now I wouldnt buy a car over 5-6k, as I cant afford to, once im making a bit of money then 30k+ wont be a problem, i'll be ticking it though!!
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Diff
Completely agree Jambo....people drving 50k range rovers are not seriously going to have saved 50k...lifes too short....
I recon most 50k land rovers are leased!
Even if someone had 50k cash they would be silly to write a cheque for it.
Borrowing large sums of money is not a problem so long as your semi sensible & have a means of repayment!
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CORSA NUT
Member
Registered: 3rd Aug 01
Location: Wirral
User status: Offline
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£0
Used to owe 22K because of my cars...no shit.
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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quote:
Originally posted by Ben G
quote:
Originally posted by All Torque
What if you lost your job though Ben?
can't see ford going into liquidation tbh.
See i can. The price of fuel continues to rise. No-one will be able to afford to run cars yet alone purchase new ones.
I've bought new cars for years now and since we hit £1 a litre, i wouldn't have a car unless i needed one. How many other people are in the same boat?
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ChrisBoom
Member
Registered: 6th Dec 06
Location: Highland
User status: Offline
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About £1k for my current car, can pay it off in a oner next week though
£1k for insurance too.
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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quote:
Originally posted by Whittie
£5100
£6000 loan over two years, £300 a month. Reliable car with low mileage... worth it imo.
Sounds reasonable to me. The car is going to pay for itself over a two year period and pay for your personal living.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by Andrew
quote:
Originally posted by Ben G
quote:
Originally posted by All Torque
What if you lost your job though Ben?
can't see ford going into liquidation tbh.
See i can. The price of fuel continues to rise. No-one will be able to afford to run cars yet alone purchase new ones.
I've bought new cars for years now and since we hit £1 a litre, i wouldn't have a car unless i needed one. How many other people are in the same boat?
£730 million profit in the first quarter of 2008, just in europe
got 15 years work guaranteed so doesn't bother me in the slightest
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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quote:
Originally posted by Andrew
quote:
Originally posted by Whittie
£5100
£6000 loan over two years, £300 a month. Reliable car with low mileage... worth it imo.
Sounds reasonable to me. The car is going to pay for itself over a two year period and pay for your personal living.
Aye Can pay off lump sums too, say if I work £500 worth of overtime in a month, I could just pay the remaining of the loan off. When I got the money from the written off corsa, I paid a bit off it. Quite happy with it though!
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SVM 286
Member
Registered: 13th Feb 05
Location: pain
User status: Offline
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I owe fucking thousands and will do for the next two years and five months. 
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