Loan

[VP stock]

Im looking to buy a new car ,, VYII Calais 5.7 ltr v8 non the point .. I am only 17 and have a full time job and tick every box but under age ,, i ahve been told i can do a so-signer loan but yet to fijnd a place to do it any help??

Or maybe somone has 15000 to help me

Cheers Mase

 

[ashbox]

most banks should be able to look after ya in some way, the car your looking at might not be helping either, some finance companies will look at the car aswell as the applicant

 

[stocky]

sounds like a stupid idea. why do you need a vy v8? are you even allowed to drive it? have you considered all the other costs, such as the comprehensive insurance you will most likely need to buy for it?

 

[greenfoam]

I'm all for getting a loan to buy a new car (as in brand new) IF the car is practical and going to save you money on the daily grind compared to what you have now but to get a loan for that much on a 2nd hand fun car that costs bulk cash to run then no, That's a bad idea

 

[VP stock]

Atm i have a Series 1 vp exec and all it does it cost me money so figure buy a new car well used but newer and spend my money each week on that ,, yes have sorted out insurance and payments and everything that comes with the car and it all is liable ,, I am now just down to finding the bank that will help me

 

[stocky]

i had the decision to buy a vy ss a year ago. i was going to blow all my money buying it. decided to go with a cheaper car, thats probably just as much fun to drive. i decided that saving for a house was more important. dont throw all your money at a car

 

[greenfoam]

Being totally serious, if you have a stable and well paying job just go and buy a new small car on finance it'll cost you 100 bucks a week for 5 years but probably save you 50 in fuel (depending how far you drive), you don't have to worry about parts for 3-5 years and you wont die if you stack so all up they don't cost much more than what you have + once your 5 year is up you still have 10 grand worth of car. Something like a Fiesta, The soon to arrive Fiesta diesel even better (sub 4L/100), mazda 2, I30? Something like this. The Fiesta and Mazda 2 can own a VY ls1 around inner suburbia anytime you want. Much better car if your not going to the drags every other weekend or on the constant highway cruise

 

[levymetal]

sorry what's a so-signer? there's so many reasons why you shouldn't do it.
1. i doubt you have a steady job. if you lose it, you'll lose your car, and the cash, everything gone.
2. at 17, do you have a licence? you have either just obtained it, or you don't even have it yet. you have such a high risk of crashing it's not funny. it's dramatically reduced after a couple of years, which is why you should buy a **** car to start off with, then buy a better one later
3. as above, insurance. you got another $3,000 a year for that?
4. will insurance even cover you, considering that the car is illegal for you to drive? insurance companies will do anything not to pay out - so if you do crash, which you probably will, your car won't get paid out, and you'll have to pay for the other person's as well. i'm not 100% on that but you should really check it out, you could end up getting ****ed in the arse if you're not careful.

all the risk for what... so you can show off to your mates...

 

[Cobez]

Do it if you wanna be in debt. Look at the interest rates, on a loan that size, you will pay between roughly $120 - $160 interest ON TOP of your repayments per month.

I took out a loan ages ago for a car, hammered a 12 year loan down in two years and it took care of some of the interest. If you are gonna just pay the minimum amount in repayments per week, then you will be stuck paying off a $15,000 loan for 15 years or so, counting the interest you will pay on top.

Do it if you are willing to pay AT LEAST $120 a week repayments.

 

[VP stock]

1. i doubt you have a steady job. if you lose it, you'll lose your car, and the cash, everything gone.
2. at 17, do you have a licence? you have either just obtained it, or you don't even have it yet. you have such a high risk of crashing it's not funny. it's dramatically reduced after a couple of years, which is why you should buy a **** car to start off with, then buy a better one later
3. as above, insurance. you got another $3,000 a year for that?
4. will insurance even cover you, considering that the car is illegal for you to drive? insurance companies will do anything not to pay out - so if you do crash, which you probably will, your car won't get paid out, and you'll have to pay for the other person's as well. i'm not 100% on that but you should really check it out, you could end up getting ****ed in the arse if you're not careful.

all the risk for what... so you can show off to your mates...

1. I have been in my job for over a year now ,, and am gettin higher up and have just reicvied my master degree in personal training and soon to be opening up my own business
2.I have my license and as for crashing that is purely up to the driving itself and how yuh treat your car
3.Insurance has already been dealt with and i have sorted if i do get the car ,, it isnt expensive due to knowing people
4.I have it in my parents name so it is liable becuase anyone under 25 can drive it