basically i agree and disagree on loans, if y getting that hilux just coz y want a newer car i wouldnt bother coz it is a waste of money over time but if y like me and need it to fix or better your credit rating which will lead to getting something worthy like a house or business etc. then its bloody worth it. simple.
nah. i supposed it could, depending on the intrerest. my 22k loan would end up being 28k if i payed it over the 5years. but it hasnt even been a year yet and ive payed off nearly half.so i wont be paying 6k in interest. loans are good if you can keep up with them. sure you have to pay a bit extra, but you get what you want when you want it.
well i've decided i'm going to take out a loan :S I went down to my bank`(st george) asked if i be eligible to take out 12000 over 5 years and after sending everything off they said i could only take out about 6000 over a 7 year loan. They take into account and assume i spend 14000 p/year on living costs even though i don't and atm i earn about 18000 which leaves only 4000 to pay the loan and they don't take into account my wage increases every year of my apprentice...has anyone have any idea which bank i should be going to and what not?
that right (maybe not as much as 18,000), thats why if you have to take out a loan for a car, make sure its not going to be the type of car that has very questionable resale (korean cars), then you get burned both ways.
10k paid paid back over 5 years @ 13% (chose a random personal loan rate) works out to about 3.7k in interest - heaps of calculators online...
