I was given my old Clio 1.2 at the age of 20 by my parents, although Id been driving it for a couple of years by then.
At 21 I bought my Valver for £4600, having sold my 1.2 for £2600. So I made up the £2000 out of my own pocket - no average achievement when you conisder that I was still doing my Batchelors at that stage! (not that Id have got any finance as a student anyway!). It was really, really tight having to do a Masters and keep my Valver maintained/insured.
Im now in a comfortably paid job and kind of eyeing up the next move. Loan rates are so low these days and you can get your hands on £5,000 for £160pcm over 3 years very easily.
But having fought daily to keep out of debt as a student (well proud of that and running a Valver at the same time!), Im really wary of taking out a loan for a much newer and nicer car.
Just seems a bit odd to have fought against the prospect for debt for so long, only to give in as soon as I actually earn some good money!!
Am currently saving £400 a month from my wages and have no debts at all, so will have that magic £5000 within a year... as long as my Valver can get through a year with no big bills!! (yeah right!)