Some form of loan (£500) for a 17 year old
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Some form of loan (£500) for a 17 year oldHello guys I'm a 17 year old in full time education (college), i also work 24 hours per week.
I will be getting a motorcycle (125cc) with my savings of around £2500.00, which will leave nothing for other equipment like for example chain, helmet, armour, boots, glove...
So my only way out is to get some form of loan (£500) maybe at 0% interests. I'm not looking for some legal loan shark like wonga.com btw guys.
So what can i do... overdraft with my current bank lloyds tsb, credit card or actual loan? -
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Re: Some form of loan (£500) for a 17 year olddont forget the cost of insurance(Original post by 2_plus_X_equal_me)
Hello guys I'm a 17 year old in full time education (college), i also work 24 hours per week.
I will be getting a motorcycle (125cc) with my savings of around £2500.00, which will leave nothing for other equipment like for example chain, helmet, armour, boots, glove...
So my only way out is to get some form of loan (£500) maybe at 0% interests. I'm not looking for some legal loan shark like wonga.com btw guys.
So what can i do... overdraft with my current bank lloyds tsb, credit card or actual loan? -
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Re: Some form of loan (£500) for a 17 year oldSaved the deposit already/ 2months payments in advance... fkin £1500 annually as i live in streatham in south london(Original post by Bleak Lemming)
dont forget the cost of insurance -
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Re: Some form of loan (£500) for a 17 year oldYou can get a loan, but you'd have to get an adult to basically agree to be responsible for paying it back if you don't. It's all depends on the bank you're using whether they decide to grant it. If you're not working, you may find it difficult. You haven't said how you saved so much, so I don't know.
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Re: Some form of loan (£500) for a 17 year oldme and all my mates constanty deal with peds and we get em second hand 600-800 and they're ok. i live in north west london and insurance only costs £400 and im 17. how comes its so high for you? thats the price for a car
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Re: Some form of loan (£500) for a 17 year old£6,ooo - £8,ooo to insure a car(Original post by fuze-mo25)
me and all my mates constanty deal with peds and we get em second hand 600-800 and they're ok. i live in north west london and insurance only costs £400 and im 17. how comes its so high for you? thats the price for a car -
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Re: Some form of loan (£500) for a 17 year oldnot a super sport love(Original post by ameliaajane)
you can get a decent 125 for much less than 2 and a half grand, js! -
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Re: Some form of loan (£500) for a 17 year oldwell if you want that kind of bike stop complaining about it and keep saving(Original post by 2_plus_X_equal_me)
not a super sport love
a 125 is a 125 at the end of day!
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Re: Some form of loan (£500) for a 17 year oldcould save around £800 during the 2 months, but its high unlikely i will find the same bike which has been discontinued at such a low mileage for a 125cc 3 stroke.(Original post by Aspiringlawstudent)
Could you not just wait another month or two? How long would it honestly take to save the extra money? -
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Re: Some form of loan (£500) for a 17 year oldThe bike will be resold with 2-3 years, it will depreciate by around £500 -£700 and i can handle that. Also my traveling tends to be on the outskirts of london, not central where the tube runs. Also when it takes you 1:30 to get to college from your house then you go with plan C (not a car MOTORCYCLE) which would cut the journey by 30-40mins.(Original post by Xamanus)
Travel by tube! Your only 17! Save some money for University!
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Re: Some form of loan (£500) for a 17 year oldUnfortunately because you're under 18, it's impossible to enforce a contract against you, because you're still legally a child. Therefore, you won't be able to get a loan, credit card or overdraft.
Your only option will be to save up / buy the 'extras' cheap off eBay (obviously not a helmet, but a chain is fine second hand, for instance), or get an adult to lend you the money.
a 125 is a 125 at the end of day!
