Loan

[stocky]

4.I have it in my parents name so it is liable becuase anyone under 25 can drive it

so many people try to do this, but im fairly sure it doesnt work and youre up for the same **** if you crash

 

[VP stock]

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.

$15,000 loan over 5 years with a 13 percent rate ,, worked out to be $87 a week and at the end of the 5 years would have payed around $5700 interest

 

[Cobez]

$5700 interest. **** THAT. Better off saving and paying cash, and saving yourself $5700.

 

[VP stock]

If i had the money now i would do that but i dont so i cant

 

[stocky]

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

you sound like the biggest dreamer ever. 1 year in a job? how is that secure? crashing can happen to anyone. you can be the best driver in the world and still have that one little slipup that causes you to crash into the back of a maserati.

 

[levymetal]

you have a masters at 17? what the hell is going on here? masters takes 6 years to get. are you using the wrong words or something?

crashing - it's all in the stats. sounds to me like you're one of the people who is like "yeah i'm the best driver in the world i'll never crash". refer to the stats, you are at least 3 times more likely to crash in your first year of driving. that's just the way it is.

just because it's in your parents name, it doesn't mean you can drive it. do you even know what the laws are regarding power restrictions? you have something like 5 points in your first year of driving. if the cops pull you over in this car, once, you'll lose 3 points. once again, you'll lose your licence. if it was that easy to avoid p plater restrictions then wouldn't anyone do it?!

 

[SV62NV]

i was going to get a loan a few months ago and get a new car but then i figured all the extra costs that will apply like other people have mentioned, interest on top of repayments, insurance, petrol, in the end i figured stuff it, just wait a year or two, put say 100 bucks away each week and within that two years of saving you have roughly 10 grand to play with, that sounded better to me so i am saving

But again its up to you dude, some people are set to one task and they get it done.

 

[stocky]

you have a masters at 17? what the hell is going on here? are you using the wrong words or something?

just because it's in your parents name, it doesn't mean you can drive it. do you even know what the laws are regarding power restrictions? you have something like 5 points in your first year of driving. if the cops pull you over in this car, once, you'll lose 3 points. once again, you'll lose your licence. if it was that easy to avoid p plater restrictions then wouldn't anyone do it?!

hes in SA, so i dont know what kind of restrictions they have on v8s there

 

[VP stock]

We have a V8 Manual Vt wagon and i have been pulled over driving and nothing down whether it was good cops or wat i dano but yea ,,

And i may be a dreamer but yuh have to dream sometimes ,, well thanks guys but i am very set to making this work and will elt you guys kno how i go ,, i think i will let my mum take the loan out in her name and pay her each week then when i turn 8 take over the loan

you have a masters at 17? what the hell is going on here? masters takes 6 years to get. are you using the wrong words or something?

yea it is just a fancy name ,, toke 8 weeks really just helps you certified

 

[Cobez]

$15,000 loan over 5 years with a 13 percent rate ,, worked out to be $87 a week and at the end of the 5 years would have payed around $5700 interest

That doesn't make sense.

$5700 divided by 60 months (5 years) is $342 interest a month

And you will be paying the loan off at $348 a month ($87 a week) at 200 weeks (5 years).

$348 - $342 = $6.