buying a car and worried...why am i so anxious about spending money!!

[PenelopePitstop]

i've been thinking about getting a car (mini) for about 6 mths now, i have been approved a loan to help fund this, what with the help of savings and part exchange.


Went to look at one this morning and it's GORG!!! so going back tonight with b/f + mechanic friend to see what they think.

i feel sick to my stomach, thinking about the loan and how much i will have left over and stuff! why do i get so nervous of spending money!!

please tell me that it's the norm to have a loan and that most people have to do this to afford a car. i just feel i'm being greedy and could have a cheaper car...is it really bad to want a nice car???

HELP!!!! xxxx

 

[princesslilyxx]

Hey babe!

Don't worry about it! It's normal to get a loan for your car! I bet is is lovely! I want a mini! Once you get it I think you will be ok! As long as you can afford to pay back the loan each month there isn't a problem!

Don't worry alot of people get loans out for their cars and you're not being greedy at all! Chin up and think of when you get the car and how good it is going to be once you're driving around in it!

Lily :hug:

 

[lisaloveliness]

i've been thinking about getting a car (mini) for about 6 mths now, i have been approved a loan to help fund this, what with the help of savings and part exchange.


Went to look at one this morning and it's GORG!!! so going back tonight with b/f + mechanic friend to see what they think.

i feel sick to my stomach, thinking about the loan and how much i will have left over and stuff! why do i get so nervous of spending money!!

please tell me that it's the norm to have a loan and that most people have to do this to afford a car. i just feel i'm being greedy and could have a cheaper car...is it really bad to want a nice car???

HELP!!!! xxxx

No is fine getting a loan most people do just dont admit it:green:
Is it brand new ?
If not few things t check are
Good service history, how many owners,any rust, mileage for the year

but im sure youll be fine

 

[PenelopePitstop]

thanks Hun you've made me feel better already!

i'm not a scrooge but i am good with my money, not a bad thing i suppose.

i can afford the repayments no worries, i just think EEK when i think of money i'm spending!

oh well you only live once! xx

 

[PenelopePitstop]

No is fine getting a loan most people do just dont admit it:green:
Is it brand new ?
If not few things t check are
Good service history, how many owners,any rust, mileage for the year

but im sure youll be fine

all checked, and everythings fine, 4 yrs old, it's only done 24.000 miles it's got a BMW FSH, 2 owners and it's had a HPI check too.

xx

 

[Sassy Hassy]

The good thing about taking out a loan for a car is you enter what they call a tri-partite agreement. Therefore if you have any major headcahes with it then the finance company should act on your behalf as obviously they hold a financial interest in it.

If you're not sure about the car then get a full RAC check done it and it will help give you peace of mind, and take out an extended warranty on it - although check the terms as some warranties aren't worth the paper they are written on.

Check the log book to see how many owners it has had, and also check that it has a full service history - it's usually in the glove box.

Look down each side of the car and see if there are any bumps or dents in it, and check the doors shut flush as this can be a sign of it having been in a crunch. Check the paintwork of each panel matches the next one, if one is different then again chances are it's been replaced/ mended and resprayed. Feel the steering wheel, the pattern on it should feel enough to coincide with the mileage - if it's completely smooth then that sucker has probably gone round the clock twice!

To check how much wear is left in the clutch then have the engine on, put the handbrake on and then let the clutch out very slowly until the car stalls. The higher you have to let the clutch pedal out the less life there is in it, if it doesn't stall then it's a wreck!

DON'T kick the tyres (they're literally known as tyre kickers in the trade) as it shows nothing, other than you don't know what you are doing.

can you tell I used to sell cars for a living!

 

[* Helen *]

I was oing to get a loan and buy a VW Golf but my other half kept saying, you will be paying it off for years and when you have done, it wont be worth the money, you will be paying off the interest on the loan for about a year too!! He put me off the old scrudge but it it true ... my friend bought herself a corsa and paid £4.5K for it on a X reg but is paying back about £1.5K just on interest on the loan!!

Sorry to put a downer on things, go with your gut feeling ... them Mini's are pretty expensive but they are a gorge car!!

Hope you make your mind up!!

x

 

[EllaX]

thanks Hun you've made me feel better already!

i'm not a scrooge but i am good with my money, not a bad thing i suppose.

i can afford the repayments no worries, i just think EEK when i think of money i'm spending!

oh well you only live once! xx

i know exactly how you feel! i want a new car but im saving for a house and i cant bear to part with money if i dont need too xx

 

[fificharlie]

Hun. Loads of ppl get loans for cars these days, and its money well spent if its a mini. If it makes you feel good then why not??!

I say go for it - trust me, I've seen many people with more debt than they will ever be able to pay off!!! And they never seem worried! I'm not saying go over the top, but dont feel bad about the loan! x

 

[bubbabinks]

I would also recommend that you get gap insurance, the dealership should provide this.
In case of an accident your car insurance will pay out the value of the car at the time and gap insurance pays out the difference between that and whats left of your loan, so your not left without a car and still paying for it.

 

[PenelopePitstop]

Thanks for all your advice, well i decided to go for it and get it and i shall have my mini by early next week!

God i'm so excited!!!

xx

 

[Jaffacake]

I got a loan out to pay for my mini, or rather hubby did! :green:

I love it to bits. I do feel guilty sometimes though when I am driving around in my 'baby' and hes got an old banger lol.

Minis rock!

 

[MINKUS]

im sooooo gutted i want one and i want one NOW!

 

[~Emmsybabes~]

i had to take out a loan last week to pay for my tax and insurance for my car ....and i havent even passed my test yet
now that annoys me...also to pay for a few tests (well hopefully just the one like)

 

[fificharlie]

I WANT A PINK MINI!!! BRING BACK THE PINK MINI CREW!

Lets all get Nail Geek Stickers too - !!! God im going over the top now... lol

 

[bridget1802]

i've been thinking about getting a car (mini) for about 6 mths now, i have been approved a loan to help fund this, what with the help of savings and part exchange.


Went to look at one this morning and it's GORG!!! so going back tonight with b/f + mechanic friend to see what they think.

i feel sick to my stomach, thinking about the loan and how much i will have left over and stuff! why do i get so nervous of spending money!!

please tell me that it's the norm to have a loan and that most people have to do this to afford a car. i just feel i'm being greedy and could have a cheaper car...is it really bad to want a nice car???

HELP!!!! xxxx

Go for it hun, I have just bout a new mini and i was like a kid in a sweet shop picking the colour etc and i didnt go home and sleep on it i signed there and then as i knew if i went home and thought about it i would feel sick at the thought of spending loads of money on a car!!

I have had mine a month now and i love it!!

 

[michelle16]

whether u buy with ur hard earned cash or finance through a co or get a bank loan,its immaterial to the garage, (they actually get comm from the finance co if u use theirs..)

u can haggle over the finance rate - they will have a base rate - dont know what it is right now, but say its 6% (flat rate), then they offer u payments at 7 or 8 %, and if u say its too expensive, then they bring the rate down (and their comm) to a lesser payment...

also beware of taking it on for too long a period, ie 41/2 or 5 yrs, this is because the interest is on at the front, ie 2k interest on a 5k loan = 7k to pay back, £x payment a month - first 1.5 yrs or there abouts and thats only interest u have been paying (and if ur on a high rate...u try changing ur car 2 1/2 yrs into a five yr agreement - u will owe more than the car is worth..)

dont strangle urself on paying over 2 yrs with huge payments - 3 yrs is a good length of time for finance deal on car.... and dont forget - there is no such thing as interest free credit (unless on new car and the manufacturer is subsidising it - if ur getting freebies ie interest free - ur probably paying about £800-1000 too much for the car...