finnance, good idea bad idea?

[Rob_Furio7]

i was thinking about getting a really nice second car, im 18 next month

so finnance is an option, i would only like to spend max £6,000 on my second car, i could probably get £3000, so would only need £2000-3000

has anyone done finnance before, and what do you think about it?

[Luke]

Get a loan mate, much cheaper if you ask me.

I got a loan for my Saxo VTR - I borrowed £3800 over 2 years and IF I had paid it off - it came to £4500 I was paying back which isn't bad really but I managed to pay it off first anyway.

Finance the car is never yours until it's paid off.

[snottybadger]

Don't do it bud, really, just use the £3k you've got, I've been there with credit cards and loans.

Buying a car on tick is the fastest way to lose money, you pay interest while the car loses value.

[stu-n-shell]

ive got the astra on finace its ok cause id never be able to afford a 12k car but as has been said its not realy yours til its paid off but im not gona modd it much any way just paint the aloys and lowwer 40 and ill be happy ive already tinted the windows.but i mite trade it in in 3 years and et another new car so realy its kinda like renting the car

[Jimmy-Boy]

Don't do it bud, really, just use the £3k you've got, I've been there with credit cards and loans.

Buying a car on tick is the fastest way to lose money, you pay interest while the car loses value.

agree mate :y:

not worth it imo.

[coldo1987]

Don't do it bud, really, just use the £3k you've got, I've been there with credit cards and loans.

Buying a car on tick is the fastest way to lose money, you pay interest while the car loses value.

Agree'd i financed the Golf at £4,800. with interest its around £7,000 over 4 years. only a year gone and its going in so slow thinking i have another 3 years before it would be cleared. as said earlier if you really want or need to go that way, then a bank loan can be arranged at a cheaper rate

[Rob_Furio7]

corr thats alot, not so good then, i have always been agaiant the idea of finnance, but my mate is doing it, and is in the same scenario as me, so i thought i might give it a shot

some say you dont need to start paying the finnance for 6 months, or one year etc etc, and i think i could pay off £3000 in 6 months, i will have to do my research tho

[3cott]

stay away mate. lone any day

[fisherposh]

With a finance deal you are more likely to get ripped off and it will just be a lot cheaper in the long run to get a 0% credit card for a year or so and try and pay it off as soon as you can

[Rob_Furio7]

my mums might know about this sort of stuff, i'll ask her lol and report back lol

[Jimmy-Boy]

if ya parents have the dollar loan off them :P