Turn on thread page Beta
    • Thread Starter
    Offline

    0
    ReputationRep:
    Hi, I'm 18 years old and recently my car broke down, the repairs outway the value of the car and therefore I have decided not to repair it. I currently have savings of £1000 and need a car asap due to my work requirements. I'm currently doing an apprenticeship earning about £1100 a month after tax. I would like to buy a reliable car in the range of £2500-4000. Would I be able to take out a credit card seeing as I have no credit history and what kind of 0% over draft limit would I be looking to get if it's available.
    Thank you.
    Offline

    3
    ReputationRep:
    How much disposable income do you have per month that you could put towards paying off debts?

    As a rule, credit cards are a very expensive form of debt, I would strongly consider other options if you're looking for a loan that you'd want to repay over a longer period..
    Offline

    15
    ReputationRep:
    credit cards are an expensive way to borrow and car sales reps will be happy to find you a loan - or your bank may be able to offer one. A bank loan is better as you can then haggle more on the price of the car.Do you have to have a car - a moped would be cheaper and let you save for a car.
    Offline

    16
    ReputationRep:
    no family with some cash to loan as you shouldn't hit any interest on a family loan
    Offline

    19
    ReputationRep:
    Have you approached friends and family and the bank? They are usually your best bet.
 
 
 
Poll
How are you feeling in the run-up to Results Day 2018?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.