Joe20 Posted April 14, 2013 Share Posted April 14, 2013 me again with pointless questions but want someone elses point of view who isnt just gonna say "do it mate be sick that!" help from some of the older lads im 19 (20 on the 23rd april) got a casual job on the railway doing weekend work but hopefully got this new job monday - friday 9-5 web development contracted etc so my monthly income would roughly be 1300 maybe after tax not sure how much im on with this new job. ive put a deposit down on a glanza already and got insurance ready too , i really really would like it for japfest or if not end of may but i have 1800 left to pay for it and 620 for insurance a couple of mates have took loans and theyve ended up down shit street but i was just wondering if you would recommend it ? what to look out for in small print or anything and if anyone could explain it a bit more , i can get a secured loan with my bank so house isnt on it and i can loan 2500 for 2 years at 112.96 a month or something and its flexible so if i want to pay more one month i can and im seriously debating it but just wondering have you lot ever took a loan out and is it worth it ? 2500 not a huge amount either but :/ i always got told to stay away from credit cards and loans but if you can meet the monthly repayments whats so bad about it ? Quote Link to post Share on other sites
Pobbette Posted April 14, 2013 Share Posted April 14, 2013 I got a loan for my glanza and I haven't looked back as long as you are sure that you can always make the monthly repayments then you got nothing to worry about. The only thing I would have said to look out for is that it isn't against your house. If your concerned you can take out a form of payment protection insurance (but do some research) just to cover yourself in case anything was to ever happen. Hope this helps a little (sorry not great with the small print as so long since I took mine out) Quote Link to post Share on other sites
daniel_g Posted April 14, 2013 Share Posted April 14, 2013 Personally, if you haven't got this new job 100% secure and youre on weekend job wages i would pass on the loan for now. Quote Link to post Share on other sites
waderz06 Posted April 14, 2013 Share Posted April 14, 2013 6 months into a new job I got a hefty loan out for a Supra. Easy choice for me but I would wait until your in your New job and settled before committing. Banks don't have sympathy if you can't repay the loan because you lost your job just my opinion. Quote Link to post Share on other sites
Joe20 Posted April 14, 2013 Author Share Posted April 14, 2013 Personally, if you haven't got this new job 100% secure and youre on weekend job wages i would pass on the loan for now. oh yeah i know that lol i wont take it out if i dont have this new job i was just wondering what peoples views are on them , un decided , obvsiously the mother disagrees with me I got a loan for my glanza and I haven't looked back as long as you are sure that you can always make the monthly repayments then you got nothing to worry about. The only thing I would have said to look out for is that it isn't against your house. If your concerned you can take out a form of payment protection insurance (but do some research) just to cover yourself in case anything was to ever happen. Hope this helps a little (sorry not great with the small print as so long since I took mine out) hmmm i was gonna say i seen a few people who took a loan out , hope you dont mind me asking but what was the price of yours and repayments etc ? did you go with bank ? i dont trust these agencies on telly like wonga and quickquid etc there apr is stupid and it looks dodgey but i wouldnt mind one with a bank just paying it off for 2years tho is a bit of a ball ache , i can save up theres no problem but summer will be almost gone and i want it in time for japfest Quote Link to post Share on other sites
Joe20 Posted April 14, 2013 Author Share Posted April 14, 2013 6 months into a new job I got a hefty loan out for a Supra. Easy choice for me but I would wait until your in your New job and settled before committing. Banks don't have sympathy if you can't repay the loan because you lost your job just my opinion.yeah i was hoping for a reply off them next week settle down and maybe take it out a week before japfest or something , my friend took a loan to fund a supra god knows why but he chose the v6 3L one 6500 lost his job .... got redundancy pay but only 2k so now hes down shit street , id ask family members but they wont loan me that much for a car " i dont need " -.- Quote Link to post Share on other sites
Pobbette Posted April 14, 2013 Share Posted April 14, 2013 oh yeah i know that lol i wont take it out if i dont have this new job i was just wondering what peoples views are on them , un decided , obvsiously the mother disagrees with me hmmm i was gonna say i seen a few people who took a loan out , hope you dont mind me asking but what was the price of yours and repayments etc ? did you go with bank ? i dont trust these agencies on telly like wonga and quickquid etc there apr is stupid and it looks dodgey but i wouldnt mind one with a bank just paying it off for 2years tho is a bit of a ball ache , i can save up theres no problem but summer will be almost gone and i want it in time for japfest I got mine with Santander, and took mine over a longer period of time to keep the repayments as low as possible. I would never go with an agency myself. Sorry I didn't read the bit about new job, you might have a little trouble as you just started the job. At the end of the day it's your choice what you do Quote Link to post Share on other sites
Joe20 Posted April 14, 2013 Author Share Posted April 14, 2013 they ask to see bank statements etc ? and longer time means more repayed ? i might take it out over 5years so its barely anything and slowly save and pay it off in a year or something but then interest etc aaaaaaaaaahhhhhhhh i dunno we will see in a few weeks -.- cheers anyway Quote Link to post Share on other sites
waderz06 Posted April 14, 2013 Share Posted April 14, 2013 I took mine over 3 years so the payments were a lot easier for me. If you can Definitely make the repayments then a loan with the bank is the way I would go. Some people are for loans and some against loans. You just need to do what makes you feel comfortable. Quote Link to post Share on other sites
AdamB Posted April 14, 2013 Share Posted April 14, 2013 (edited) If you do go for a loan just pay it off as soon as you can, I dont see the point in dragging it out as you only pay more in the long fun. Edited April 14, 2013 by AdamB Quote Link to post Share on other sites
Nanglebadger Posted April 14, 2013 Share Posted April 14, 2013 as has been said already, if u do decide to go for a loan, just make sure u pay it off each month, the last thing you want is for something to go wrong and it affect your credit score when the time comes to apply for a mortgage. paying it off on time each month will however help to generate a decent score for you. Phil. Quote Link to post Share on other sites
Joe20 Posted April 14, 2013 Author Share Posted April 14, 2013 as has been said already, if u do decide to go for a loan, just make sure u pay it off each month, the last thing you want is for something to go wrong and it affect your credit score when the time comes to apply for a mortgage. paying it off on time each month will however help to generate a decent score for you. Phil. thats a fair point to get my credit rating up , i havent got one so far no phone contract or credit card or financed car or anything but i think once ive settled in this job ill get one , cheers for helping Quote Link to post Share on other sites
Whitenoize Posted April 14, 2013 Share Posted April 14, 2013 I'd just save and do it if I was you mateFuck getting a loan mite take you a few month to save the cash but it feels alot better when you just hand over the cash and that's it done if I ever want sumthin I just save maybe do a bit of extra work n that's it.. payin banks n all for a few year at a time would piss me off Quote Link to post Share on other sites
Joe20 Posted April 14, 2013 Author Share Posted April 14, 2013 I'd just save and do it if I was you mateFuck getting a loan mite take you a few month to save the cash but it feels alot better when you just hand over the cash and that's it done if I ever want sumthin I just save maybe do a bit of extra work n that's it.. payin banks n all for a few year at a time would piss me offi know its just patients , i desperately want it for japfest or if not the end of may in time for summer loving but i wont get paid until the end of may and it wont be enough so im thinking of loaning it and saving extra on top of what my monthly payments would be and pay it off quicker than usual because i hate owing money out lol Quote Link to post Share on other sites
Patches Posted April 15, 2013 Share Posted April 15, 2013 My loan repayments get in the way of my mods i'll be honest. 2 years is a long time. And when u get a starlet, you will want to mod it.But i did it, if i could go back in time i'd probably do it again Quote Link to post Share on other sites
shorty Posted April 15, 2013 Share Posted April 15, 2013 loans can be the start of a big spiral down! i had a loan at 19 to pay of finance on a 6mnth old car, took 7k! then got shot of the car for next too fook all, wanted another car and a few mods for it but didnt have the cash as i lost so much selling the last one so boom another 7k extension on the loan! now i pay 220 a month and have for near 10years as the second extension was done on a 7 year agreement, do the math 14k total 220 a month over 10years = 26,400!!! now im not saying yous is as bad but once you have one and its monthly payment holds you back from other things then the post comes in offering allsorts of great rates because you pay the payments each month, next thing you know you are 28/29 and thinking if you could go back in time you would punch yourself in the face for taking the first loan! im lucky as its tuaght my younger brothers a valuable leason from my mistake and also as im in a good job so thankfuly the repayments arnt hugley missed but if that money had gone into savings not a loan id have a house by now! be very careful as at your age banks love to get their claws in amd alot of banks work on commision so the more they can convince you to dig a hole the more they make! i will only ever have a morgage after my loan finishes in may. and havnt taken credit or loans for around 6years as its just not worth the waste of money. best waiting and using 100% of your own hard earned as its far more satisfying and many mates my age also got sucked into loans at young ages some of which are declared bankrupt or on consolidation agreements. its easy to get misslead and carried away once the money hits your acount. i lived like a king at your age and now regret every aspect of my attitude from 19-24! Quote Link to post Share on other sites
Joe20 Posted April 16, 2013 Author Share Posted April 16, 2013 loans can be the start of a big spiral down! i had a loan at 19 to pay of finance on a 6mnth old car, took 7k! then got shot of the car for next too fook all, wanted another car and a few mods for it but didnt have the cash as i lost so much selling the last one so boom another 7k extension on the loan! now i pay 220 a month and have for near 10years as the second extension was done on a 7 year agreement, do the math 14k total 220 a month over 10years = 26,400!!! now im not saying yous is as bad but once you have one and its monthly payment holds you back from other things then the post comes in offering allsorts of great rates because you pay the payments each month, next thing you know you are 28/29 and thinking if you could go back in time you would punch yourself in the face for taking the first loan! im lucky as its tuaght my younger brothers a valuable leason from my mistake and also as im in a good job so thankfuly the repayments arnt hugley missed but if that money had gone into savings not a loan id have a house by now! be very careful as at your age banks love to get their claws in amd alot of banks work on commision so the more they can convince you to dig a hole the more they make! i will only ever have a morgage after my loan finishes in may. and havnt taken credit or loans for around 6years as its just not worth the waste of money. best waiting and using 100% of your own hard earned as its far more satisfying and many mates my age also got sucked into loans at young ages some of which are declared bankrupt or on consolidation agreements. its easy to get misslead and carried away once the money hits your acount. i lived like a king at your age and now regret every aspect of my attitude from 19-24! thatswhat my old boss did back in the day , not that im saying your old or anything but he said you could literally ring up and have money an hour later he was taking thousands a month living the dream he said brand new bmw's so he looked the part just chucking it all away , now hes black listed and can only do things financially in his partners name i.e running his own business hes declared it bust twice and started up again with his partner as a business partner and advised me not too but said there isnt anything bad with it as long as you dont abuse it , he said take one if needs be , hibernate and work like mad and pay it off asap as long as you meet the payments like they said it will be okay and a credit rating etc just dont abuse it like drugs , alcohol , gambling etc its a dodgey game , i think if i do get this job ill save for a month and only take a small one out i.e 1500 - 2000 to get the car now for summer etc and have it paid off in 6 months aslong as its flexible , cheers for the advice and everything just need to see how much i get on payday and see if its worth it , could get taxed like a bitch with 2 jobs but we'll see Quote Link to post Share on other sites
Ep82jm Posted April 16, 2013 Share Posted April 16, 2013 Getting a loan to finish a car for a set date is just ridiculous mate. Think about it,save for a few months and have it done for slightly later and that's it done,your next months wage pays for bla bla bla Or get a loan and have the car finished for a set date then pay it off for the next 2-3 years or more...all for the sake of having it done on a certain date for someone to walk past and say hey that's nice...sounds stupid to me...but hey,it's not my money but I also think you will think about this a bit and decide yea ill just save lol. Quote Link to post Share on other sites
LukeSR Posted April 16, 2013 Share Posted April 16, 2013 Anyway if you get a loan to buy a car.. It won't be 'your' car! Loans are for people who want to set-up businesses and make money etc not to spend on cars imo. Quote Link to post Share on other sites
Spoon_tuned Posted April 16, 2013 Share Posted April 16, 2013 Rushing all this just to have a car for japfest is'nt worth the hassle. i've done it previously for cars never again. the last 3 cars i've had i've bought myself no loans or finance just saved up and it feels good that i don't owe some1 for it. so if i ever sell it money goes straight into my pocket. just save before you know it you will have your car in front of your house Quote Link to post Share on other sites
shorty Posted April 16, 2013 Share Posted April 16, 2013 your right in a way bud i am old lol. that said its just so easy to get carried away. but you are young and you only learn through your own mistakes. im not saying this is one of them though. but it is ultimatly for you to way up. if you can achieve the same goal by waiting litraly two three months more then i personaly would wait as lets face it three months is nothing in the long run Quote Link to post Share on other sites
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