Raising the Finances

[Shindig]

Hi there.

Just a quick question and advice for people out there who want to buy a clio. How did you guys go about raising the finance to purchase the car.

I have been looking at the Racing Blue 182 clio and between 7-9K is alot of cash to raise, esp a private sale.

Any tips would be tops!

 

[Timmay]

bank loan perhaps?

 

[breo1984]

i went for a loan, obviously the longer you take it over the less it is. or selling yourself for medical research

 

[Cookie]

^ Less you pay per month, more you pay over time tho.

 

[McBunny]

^ Less you pay per month, more you pay over time tho.

someone who agrees with me id say 3 years is alright 4 at a push any longer and your in trouble

 

[Steve]

Borrow as little as pos over the shortest period, otherwise you may not have the funds to enjoy your car.

Whats the point of having a good car & not enough cash to have fun in it.

Northern rock cheap loans, but don't have the payment protection no matter what they say.

 

[breo1984]

ive gone for 5 but only because im in a share scheme so i pay lower for 2 1/2 years then get the share money and will pay the rest in full. if its a private sale unless you got a mum or dad that will give you the money only a loan is the way to go. or a second job if your willing to work for it

 

[Cookie]

I'm borrowing 5K over 2 years @ 5.8% from AA Loans

Think in total I'm only paying 160 quid in interest

 

[MT AUDIO]

i borrowed 1500 to pay some of my car but then i used my 0% for 10 months credit card

interest free loans are great.lol

 

[Djw Dave]

I got a loan. Couldnt have finished my Turbo without it (for a while).

If i had to do it over again, i would have saved hard rather than borrow. IMO

 

[DebV6]

Got in on finance over 3 years, got quite a good rate aswell. Aswell as about 3k off the car brand new

 

[Dash]

If i had to do it over again, i would have saved hard rather than borrow. IMO

:approve:

 

[oatz]

I agree, I don't do finance hence I would be driving a 996 by now if I did.
I say just save until you can afford it (unless you have a decent investment fund et al) as I believe it will be far more rewarding knowing you wholly own the car from day one and not lining somebody else's pocket...just me 2 pence worth

 

[Neil G]

I agree, I don't do finance hence I would be driving a 996 by now if I did.
I say just save until you can afford it (unless you have a decent investment fund et al) as I believe it will be far more rewarding knowing you wholly own the car from day one and not lining somebody else's pocket...just me 2 pence worth

I tend to agree but it's very hard to save money these days hence all this loan, buy now pay later & on tick bulls**t.

 

[DebV6]

I'm much better at paying back than I am saving! As long as you know your limits and don't borrow more than you can afford then I don't see the problem.

 

[MEDD]

I had to get a loan, not so bad I can afford it easily. Just I needed a car for work and no time to save

 

[Tony Hunter]

Rob your granny!!

 

[shell85]

save it first then you can hunt round for a car at same time and see what they go for. if you borrow you will buy the first 1 you see and that may not be the best deal.

 

[NOT! gary l]

I agree, I don't do finance hence I would be driving a 996 by now if I did.
I say just save until you can afford it (unless you have a decent investment fund et al) as I believe it will be far more rewarding knowing you wholly own the car from day one and not lining somebody else's pocket...just me 2 pence worth

I tend to agree but it's very hard to save money these days hence all this loan, buy now pay later & on tick bulls**t.

I agree with those, probably stems from being brought up being told if i cant save for it i cant have it, (or if my parents could'nt while i was a kid).

I have always viewed credit cards as the cause of a lot of misery and depression and for those reasons, despite daily spam letters offering me every credit card under the sun i will never have nor allow my missus to own a credit card.

I often have a giggle at my mates who brag about their plasma telly's and fancy leather sofas, all bought on tick with a credit card, they like to play keeping up with the Jones' with each other, im proud but not arrogant in the fact that every thing i own has been paid for with cash, they dont realise that with a bit of persuasion i can get 10% of a better TV than theirs, which they are paying 50% more for in interest payments.

Its all very well saying i cant afford this or that without a loan but then maybe the people who think this should'nt be setting their sights so high.

Im not saying loans are bad, id rather take out a loan than a credit card but it would be for very little over a short period of time paying back an amount that wouldnt affect how i live my life or meaning i would have to go without certain things.

Like the Stereophonics sang;

You can have it all if you like, and you, can pay for it the rest of you're life.

 

[f4rt3d]

I'm borrowing 5K over 2 years @ 5.8% from AA Loans

Think in total I'm only paying 160 quid in interest

eh? i think you'll be paying....

first year.......5,000 x 5.8% = £280

 

[Tony Hunter]

I'm borrowing 5K over 2 years @ 5.8% from AA Loans

Think in total I'm only paying 160 quid in interest

eh? i think you'll be paying....

first year.......5,000 x 5.8% = £280

Thats confusing finance for you

 

[Tony Hunter]

Its all very difficult to say,Im not a great believer in finance but I would never had done half the Motorsport without it,and Ive had a great time. At least I can say Ive done it and not if only.The downside is I would be loaded but unhappy.
Each to there own

 

[sweetkidda]

you only live once remember,
personally though ive been on finace an now i own my megane,
but im after a 172 but im saving up for that so its long days for a while but itll b worth it, ive wanted 1 for a long time now u c, wont b complete til i do the 'ring' though which hopefully wil b nxt yr sum time

 

[Rob R26r]

I tend to agree but it's very hard to save money these days hence all this loan, buy now pay later & on tick bulls**t.

I agree with those, probably stems from being brought up being told if i cant save for it i cant have it, (or if my parents could'nt while i was a kid).

I have always viewed credit cards as the cause of a lot of misery and depression and for those reasons, despite daily spam letters offering me every credit card under the sun i will never have nor allow my missus to own a credit card.

I often have a giggle at my mates who brag about their plasma telly's and fancy leather sofas, all bought on tick with a credit card, they like to play keeping up with the Jones' with each other, im proud but not arrogant in the fact that every thing i own has been paid for with cash, they dont realise that with a bit of persuasion i can get 10% of a better TV than theirs, which they are paying 50% more for in interest payments.

Its all very well saying i cant afford this or that without a loan but then maybe the people who think this should'nt be setting their sights so high.

Im not saying loans are bad, id rather take out a loan than a credit card but it would be for very little over a short period of time paying back an amount that wouldnt affect how i live my life or meaning i would have to go without certain things.

Like the Stereophonics sang;

You can have it all if you like, and you, can pay for it the rest of you're life.

 

[Rob R26r]

Well said

 

[tollan172]

tick is the way forward!!! haha

 

[Faxo]

Ive always had loans, helping my credit record along the way!

Currently got a £8k loan because i went mad on my credit cards, regret it now but whats done is done, just pay my payments every month, and it'll be gone eventually!

 

[Batman]

Ive always had loans, helping my credit record along the way!

Currently got a £8k loan because i went mad on my credit cards, regret it now but whats done is done, just pay my payments every month, and it'll be gone eventually!

same here im on my 3rd loan now and im 22 paid the first 2 early, 3rd one is for my current 172, ive other loans for allsorts my plasma, my drum it my engine conversion all the small things have been interest free buy now pay in 12 months and paid before the payments start. never missed a payment and i have a credit card that goes up and down like a yoyo but it stands at £100 at the mo which is nowt, ive had store cards, phone contracts aswell all payments made on time and even my insurance! hoping my credit score will keep going up so when the gf finishes uni i wont find it any trouble to get a mortgage, i also have a small isa account so it shows i can do a little saving, gf also has a large isa with a few grand in.

yes you can save any buy but it isnt always the best option as your credit score isnt gonna be huge and when house prices are going up we have to borrow more!

on the other hand i know plenty of mates and even my step brother who go waayyy beyond what they can afford, my step brother went and got a 3k loan a week after i got my car loan from halifax because he couldnt believe how easy it was, a month later the 3k was gone and he had nothing to show for it , that my friends is wasting money. :star:

 

[Batman]

i'd also like to note as it seems my last message seems like i have lots of things on the go i dont i have my car,insurance and phone and plenty of disposable

 

[Shindig]

but on the tick... always in debt. it will always be hanging over your head. I have been thinking about this one, and ways i could cut my spending... cut out the drink for a start! saps all your cash.... move away from the little luxuries that mount up and save the cash that way.

 

[Patrick1964]

If you need to borrow money, have a look at www.moneysupermarket.com - you can find the cheapest from loads of different lenders.

 

[Graham Gooch]

If you can afford the loan then do that, providing you get a low APR etc.

Remember though cars depreciate so you will be paying for that as well.

 

[Neil G]

I tend to agree but it's very hard to save money these days hence all this loan, buy now pay later & on tick bulls**t.

I agree with those, probably stems from being brought up being told if i cant save for it i cant have it, (or if my parents could'nt while i was a kid).

I have always viewed credit cards as the cause of a lot of misery and depression and for those reasons, despite daily spam letters offering me every credit card under the sun i will never have nor allow my missus to own a credit card.

I often have a giggle at my mates who brag about their plasma telly's and fancy leather sofas, all bought on tick with a credit card, they like to play keeping up with the Jones' with each other, im proud but not arrogant in the fact that every thing i own has been paid for with cash, they dont realise that with a bit of persuasion i can get 10% of a better TV than theirs, which they are paying 50% more for in interest payments.

Its all very well saying i cant afford this or that without a loan but then maybe the people who think this should'nt be setting their sights so high.

Im not saying loans are bad, id rather take out a loan than a credit card but it would be for very little over a short period of time paying back an amount that wouldnt affect how i live my life or meaning i would have to go without certain things.

Like the Stereophonics sang;

You can have it all if you like, and you, can pay for it the rest of you're life.

Totally agree with you

In my eyes all the wide screen TVs, surround sound s**t, sofas etc all mean s**t if you don't 'own' it

 

[172_girl]

i borrow off my parents so i dont pay interest, i borrowed £20k off them got my house deposit, and all the furniture in it, also bought my boyfriend a m3 convertible,
nice interest free payments

 

[Neil G]

i borrow off my parents so i dont pay interest, i borrowed £20k off them got my house deposit, and all the furniture in it, also bought my boyfriend a m3 convertible,
nice interest free payments

Lucky chap

 

[Cookie]

eh? i think you'll be paying....

first year.......5,000 x 5.8% = £280

Thats confusing finance for you

Doesn't work like that Farted

I don't pretend to know how it works either, I just pays my money

 

[NOT! gary l]

I dont think, you need to take out finance/loans etc just to get a good credit rating by paying them on time, all ive had are my direct debits, such as mobile bill, house phone, t'internet, www.creditexpert.co.uk have my credit rating as 933 from a possible 1000 so that must be good.

Im not saying people are wrong to take out loans and stuff, far from it, i realise that some people are in a situation where they simply have to, i just mean it's not for me, i'd rather go without and save for however long it takes.

The only time it is really wrong is when the people, like i said previously, who cant stand the fact someone has something better than them so they go and get it on tick.

Like the mates i mentioned, who are also related, it's gone so far they are in huge debt, competing with each other on everything, one has laminate flooring, the other had to better it by getting real bamboo flooring, they both drove sheds untill one bought an FTO, the other then bought an M3, just last friday i had one asking where i bought my new telly from, mines is 40" but he is looking at the 42" not that its better or more expensive, he just thinks bigger/more power is best, none of which ive mentioned along with probably the rest of the contents of the houses are bought with cash which is their's.

A small loan is fine, but when it comes to living a life buying things with money that hasnt even crossed you're palm and you are working all week/month simply to watch it go into the bank then straight back out to pay some other extravagant purchase, thats when it gets seriously wrong.

Like i said, im not having a dig, some of the young un's on here would do well to take heed of the predicament my mates are in.

Damn i wish i could post with one sentence, hopefully im forgiven by my low post count!!:rasp:

 

[_Kenny_]

sale of the clio - 2k
girlfriend's student loan which was kept in ISAs - 5k
money saved - 2k

That's how I'm funding my next car. The student loan is paid back at a very low rate, so better than any loan out there

 

[Storm_Force]

Never had a loan / credit card etc. Nothing like paying for stuff outright like when I got my 197 last year.

 

[172_girl]

i borrow off my parents so i dont pay interest, i borrowed £20k off them got my house deposit, and all the furniture in it, also bought my boyfriend a m3 convertible,
nice interest free payments

Lucky chap

im a girl hehe