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.
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- Thread Starter
- 16-09-2015 18:11
- 16-09-2015 21:41
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..
- 17-09-2015 22:22
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.
- 18-09-2015 17:25
no family with some cash to loan as you shouldn't hit any interest on a family loan
- 18-09-2015 19:22
Have you approached friends and family and the bank? They are usually your best bet.