How do I get my parents to take out a loan or me at 17 that I will pay for? Watch

Emmahill2002
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How do I get my mum or dad to take out a loan in their name for me? I’m 17 and want a car to get to college as the buses are some what appalling, I have to leave at 7am every morning and they are always late, the people are also quite violent (had a bear bottle thrown at me last week). I can afford the insurance and the cars monthly payments with my sturdy part time job but they won’t do it for me. My mum can’t has her credit history isn’t the best but my dads is great but he just does like having anything to his name and preferences to buy everything outright but won’t lend me they money himself either. All my friends are getting cars payed for by their parents and I’m not expecting that from mine I just want my dad to put the car on finance with his name but with MY money, am I asking a lot I don’t want to sound spoilt because I’m not and I’m very independent I just don’t see why I should miss out on something that I’d like with my hard earned money because of choices my Mum made and my Dads stubbornness, they both have always trusted me and he said that’s not the issue he just outright says no without a reason. Any advice on how I can get him to change his mind?

Oh probably should mention he bought my sister now 24 a car when she was 17 she didn’t pay anything
Last edited by Emmahill2002; 3 weeks ago
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Mustafa0605
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Check out marmalade, they offer cars with insurance which you can pay monthly for
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Anonymous #1
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(Original post by Mustafa0605)
Check out marmalade, they offer cars with insurance which you can pay monthly for
Im 17 I can’t pay monthly for anything because that’s getting it on finance/ like a loan and you have to be 18
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ProbablyPallas
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Just save up and buy your own car like everyone else without rich parents has to
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Parties
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Never take out loans for things that are non-essential. This is non-essential, you just want convenience and validation from your peers for having a car. A motorbike would be better, even. Please do explain to me why your parents have to get into debt and risk not having it paid back (you never know if you'll have that part-time job for all that long or if you will be able to meet payments) just so you can have a car?
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StriderHort
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Nah, doesn't sound a good idea, most sensible parents will not let their 17 year old kid mess about with their credit history, there doesn't need to be any other reason tbh. It's not your Mum's choices or Dad being stubborn stopping you, it's a personal lack of money and credit history.
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Anonymous #1
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(Original post by Parties)
Never take out loans for things that are non-essential. This is non-essential, you just want convenience and validation from your peers for having a car. A motorbike would be better, even. Please do explain to me why your parents have to get into debt and risk not having it paid back (you never know if you'll have that part-time job for all that long or if you will be able to meet payments) just so you can have a car?
They wouldn’t be getting into debt I am paying and the job is sturdy I’ve worked there for almost a year and it is owned by my uncle, it’s my job till I say it’s not which I wouldn’t say as I need a job to support myself through uni. I have saved enough for the insurance for the year and I have good amount for a deposit on a newish car I’ve been saving since I was 15. I could get an older car with that money and buy it outright and then I would not need his help but my dad again will not allow me as he says “oh it’ll just break down” which isn’t the case and that’s just a risk I would have to take. Your making it sound like I’m running to the bank of mummy and daddy stamping my feet and demanding a car I’m not asking for a penny from him my mum agrees he should help me and be my guarantor and feels bad she can’t herself my question was what could I possibly do to change his mind?
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Parties
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(Original post by Anonymous)
They wouldn’t be getting into debt I am paying and the job is sturdy I’ve worked there for almost a year and it is owned by my uncle, it’s my job till I say it’s not which I wouldn’t say as I need a job to support myself through uni. I have saved enough for the insurance for the year and I have good amount for a deposit on a newish car I’ve been saving since I was 15. I could get an older car with that money and buy it outright and then I would not need his help but my dad again will not allow me as he says “oh it’ll just break down” which isn’t the case and that’s just a risk I would have to take. Your making it sound like I’m running to the bank of mummy and daddy stamping my feet and demanding a car I’m not asking for a penny from him my mum agrees he should help me and be my guarantor and feels bad she can’t herself my question was what could I possibly do to change his mind?
You either keep on asking him or wait until you are 18 and can borrow the loan yourself. He might not want to borrow the loan because he doesn't view it as being a good idea because, you know, since it's his credit history and it ain't all that smart to let others mess with it. You can otherwise get a bike or a moped as a substitute.
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StriderHort
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(Original post by Anonymous)
They wouldn’t be getting into debt...
He would be in debt the second he signed? I'd give up hope of him borrowing on your behalf. If he won't let you spend your own money that's another problem.

If you're 'very independent' then you kinda need to make your own deals and not rely on someone else's finances.
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Anonymous #1
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(Original post by StriderHort)
He would be in debt the second he signed? I'd give up hope of him borrowing on your behalf. If he won't let you spend your own money that's another problem.

If you're 'very independent' then you kinda need to make your own deals and not rely on someone else's finances.
And I second I’m 18 in 10 months I will he clearly just dislikes me me bought my sister a car no problem doesn’t matter forget I asked you only need to look out for one person in this world and that’s yourself clearly as he has demonstrated
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RogerOxon
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(Original post by Emmahill2002)
How do I get my mum or dad to take out a loan in their name for me?
It would appear that you don't. Frankly, only buying what you have money for, with limited exceptions (house, education), isn't a bad lesson.

(Original post by Emmahill2002)
I can afford the insurance and the cars monthly payments with my sturdy part time job but they won’t do it for me.
You might be able to afford the repayments now, but what situation would they be in if you lost your job? Why should they take the risk?

(Original post by Emmahill2002)
All my friends are getting cars payed (sic) for by their parents and I’m not expecting that from mine I just want my dad to put the car on finance with his name but with MY money
It would be HIS debt, not your money. You may pay now, but might not be able to in future, through no fault of your own. That's why debt is always a risk.

(Original post by Emmahill2002)
am I asking a lot I don’t want to sound spoilt because I’m not and I’m very independent I just don’t see why I should miss out on something that I’d like with my hard earned money because of choices my Mum made and my Dads stubbornness, they both have always trusted me and he said that’s not the issue he just outright says no without a reason.
Sorry, but you do sound spoilt. You only have a right to buy something (from 18) when YOU have the money for it. You don't, and no one will lend it you either - what does that tell you?

Independent means not relying on others ..

(Original post by Emmahill2002)
Any advice on how I can get him to change his mind?
Don't try. Save enough to buy it outright, even if it means buying a cheaper car than you'd like. However, cars take quite a lot of money to run - are you sure that it's a wise buy? How much a month can you pay?

(Original post by Emmahill2002)
Oh probably should mention he bought my sister now 24 a car when she was 17 she didn’t pay anything
Perhaps you should discuss that with them. Parents usually try to treat all their children equally, but circumstances can, and do, change.

Sorry if I sound harsh - I will be providing my children with cars when they need them, but not everyone can afford to, or see it as a priority.
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Anonymous #2
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You dont have to get your dads permission to get an old car. Just make sure you have someone knowledgeable with you when you are viewing them.

Perhaps your parents dont have the cash to buy you one.
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mnot
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(Original post by RogerOxon)
Sorry, but you do sound spoilt. You only have a right to buy something (from 18) when YOU have the money for it. You don't, and no one will lend it you either - what does that tell you?

Independent means not relying on others ..
This. ^^^^^^

OP re-read it several times. A car is a privilege not a right.

I can see the interest considering your sister got help at your age... but its been 7 years and this is a new situation, if you cant afford it without your parents organising you a loan, that means you cant afford it regardless, they do not owe you anything.
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Anonymous #1
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(Original post by RogerOxon)
It would appear that you don't. Frankly, only buying what you have money for, with limited exceptions (house, education), isn't a bad lesson.


You might be able to afford the repayments now, but what situation would they be in if you lost your job? Why should they take the risk?


It would be HIS debt, not your money. You may pay now, but might not be able to in future, through no fault of your own. That's why debt is always a risk.


Sorry, but you do sound spoilt. You only have a right to buy something (from 18) when YOU have the money for it. You don't, and no one will lend it you either - what does that tell you?

Independent means not relying on others ..


Don't try. Save enough to buy it outright, even if it means buying a cheaper car than you'd like. However, cars take quite a lot of money to run - are you sure that it's a wise buy? How much a month can you pay?


Perhaps you should discuss that with them. Parents usually try to treat all their children equally, but circumstances can, and do, change.

Sorry if I sound harsh - I will be providing my children with cars when they need them, but not everyone can afford to, or see it as a priority.
I just don’t think it’s fair treating his children differently he bought my sister a car when she was 17 she didn’t have a job. his financial situation hasn’t changed if anything its better. He never said he’d buy me one which is fine, things shouldn’t be handed to you on a plate in life but for him to not help me out I don’t want his money just financing it for me I think it’s ridiculous and my mum agrees. The car is £79 a month and the insurance is about the same a month and it has a 11 month Mot and 12 month free breakdown
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Anonymous #2
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Why isn't your mum giving you money if it's so ridiculous then?
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RogerOxon
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(Original post by Anonymous)
I just don’t think it’s fair treating his children differently he bought my sister a car when she was 17 she didn’t have a job.
You'll have to discuss that with him. There could be a myriad of reasons, e.g. financial, concern about the car you want to buy, or your safety as a driver.

(Original post by Anonymous)
his financial situation hasn’t changed if anything its better.
Do you really know?

(Original post by Anonymous)
He never said he’d buy me one which is fine, things shouldn’t be handed to you on a plate in life but for him to not help me out I don’t want his money just financing it for me I think it’s ridiculous and my mum agrees.
You want him to take on debt, with you promising to pay for it monthly. If you don't, it's HIS debt and problem.

(Original post by Anonymous)
The car is £79 a month and the insurance is about the same a month and it has a 11 month Mot and 12 month free breakdown
There's a lot more cost to running a car than insurance and debt. That insurance sounds very low for a 17 year old male. Please tell me it isn't a black box policy.

How much would you be borrowing, and how much of a deposit do you have? What is the car? Do you already have a full license?

You cannot force anyone to take on debt. If you truly want to be independent, save and / or buy a cheaper car. You really need some money to one side for repairs too.
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Jess.1819
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Like a few other people have said just get an older car that you can pay for outright, that’s almost always a better option especially because of your age, you don’t want to be getting a loan (even if it’s in your dads name) especially for a new driver with limited money cause it’ll be a pain in the ass if you have an accident etc.

Just make sure you do your background checks (like service history) and make sure you look after it and it’s not likely to cause you anymore issues than a newer car would (if you can get a reasonably low mileage one that’d be best unless it’s had replacements already for more expensive parts that start to wear on high mileage cars).

You can get this car you want in a couple years when you’re over 18 and have the money to spend on it outright (your insurance will have gone down by then too).
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Anonymous #1
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(Original post by RogerOxon)
You'll have to discuss that with him. There could be a myriad of reasons, e.g. financial, concern about the car you want to buy, or your safety as a driver.


Do you really know?


You want him to take on debt, with you promising to pay for it monthly. If you don't, it's HIS debt and problem.


There's a lot more cost to running a car than insurance and debt. That insurance sounds very low for a 17 year old male. Please tell me it isn't a black box policy.

How much would you be borrowing, and how much of a deposit do you have? What is the car? Do you already have a full license?

You cannot force anyone to take on debt. If you truly want to be independent, save and / or buy a cheaper car. You really need some money to one side for repairs too.
It’s a Citroen 2016 insurance is fairly cheap for those type of cars there’s a 200 deposit which I have. I’m a girl and it shouldn’t be but Insurance is a bit cheaper for a 17 year old female than a male. Yes it is black box is that a bad thing? I’m not sure a lot of people say they do t like black box there’s no curfew or mile limits on it it’s just to monitor speed it says.
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RogerOxon
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(Original post by Anonymous)
It’s a Citroen 2016 insurance is fairly cheap for those type of cars there’s a 200 deposit which I have.
Have you budgetted for fuel, consumables (e.g. tyres and servicing) and repairs? If you only have 200 quid as a deposit, you're going to be getting a very poor deal.

Again, I'd save and buy a (probably cheaper) car outright. I'd also want a few hundred pounds for consumables and repairs. Sorry - cars are expensive, and secondhand cars carry no guarantee of reliability.

(Original post by Anonymous)
I’m a girl and it shouldn’t be but Insurance is a bit cheaper for a 17 year old female than a male.
Sorry - I should have seen that.

(Original post by Anonymous)
Yes it is black box is that a bad thing?
Yes, it certainly can be. Do a search on "insurance cancelled". I'd want to do a lot of research into it before taking out a black box policy, and be prepared to have to cancel it and buy a more expensive one. Be aware that many have been given notice of their policy being cancelled - if you do nothing, your insurance will be substaintially mroe expensive.
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StriderHort
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(Original post by Anonymous)
The car is £79 a month and the insurance is about the same a month and it has a 11 month Mot and 12 month free breakdown
This doesn't sound a terribly good deal tbh :/

I don't know how much a 4 year old Citroen is worth, but with no real deposit and £79 a month that's surely going to be credit over 5+ years? by the time you take interest into account you'll be effectively paying a LARGE fee for a moderate value used car.

I suspect part of your dads worry might be that he see's the deal as bad and is thinking a few years down the line when you're sick of paying for it (or when the black box policy cancels you and prices you off the road) or the arse just falls out the car in some way crippling it's value.

People generally don't seem to take out finance deals for properly used cars, it gives you the worst of both worlds in a lot of ways...all the stress and near the same depreciation of a new car on credit and little of the normal protections, the possible exception being manufacturers own approved used schemes.
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