Car loan

vwhead

Deleted User wrote: »

Internships pay an extra €50 a week.
http://www.jobbridge.ie/Employer.aspx

some of them pay 80 a week do the research misses

vwhead

vwhead wrote: »

some of them pay 80 a week do the research misses

Good Luck, Kid. You've got it all sussed! You'll be an asset to any organisation!

Cleveland Hot Pocket

vwhead wrote: »

some of them pay 80 a week do the research misses

Good man.
Never let the truth or reality get in the way of you and your desire to saddle yourself with debt that you cannot afford on a depreciating asset. I mean it is a feckin' bora ffs, it is not exactly something desireable. Go back a couple of years and you will get the same car for peanuts.

vwhead

Deleted User wrote: »

Good Luck, Kid. You've got it all sussed! You'll be an asset to any organisation!

yea because its ignorant people like you that think a computer will tel them how to get the most out of things that will never be assets. your an adult stop acting like a spoilt child with your childish comments!

Cleveland Hot Pocket

vwhead wrote: »

yea because its ignorant people like you that think a computer will tel them how to get the most out of things that will never be assets. your an adult stop acting like a spoilt child with your childish comments!

*You're :pac:

vwhead

Cleveland Hot Pocket wrote: »

Good man.
Never let the truth or reality get in the way of you and your desire to saddle yourself with debt that you cannot afford on a depreciating asset. I mean it is a feckin' bora ffs, it is not exactly something desireable. Go back a couple of years and you will get the same car for peanuts.

wel if u looked it up correctly you will see that while your on an internship you can work anywhere else an do as many hours as you please and no1 is able to say boo to ya. also 50 euro a week is the basic you haveta be paid if you haggled or know the person that takes you on you can get abit more!

vwhead

Cleveland Hot Pocket wrote: »

*You're :pac:

sorry we have english teachers present i better not make a mistake as it will ruin there lifes

Saucy McKetchup

Why don't you become a mechanic

vwhead

Saucy McKetchup wrote: »

Why don't you become a mechanic

apprenticeships are very hard got. the last garage i done a summers work in was giving 1 to me only his nieghbor kept at him to give it to his son who has no intrest in cars and he got it at the last minute just as the boss was gunna get the papers for me

Cleveland Hot Pocket

Saucy McKetchup wrote: »

Why don't you become a mechanic

Or an accountant.

vwhead

Cleveland Hot Pocket wrote: »

Or an accountant.

or english teacher maybe ?

vwhead

vwhead wrote: »

wel if u looked it up correctly you will see that while your on an internship you can work anywhere else an do as many hours as you please and no1 is able to say boo to ya. also 50 euro a week is the basic you haveta be paid if you haggled or know the person that takes you on you can get abit more!

1 If there are jobs out there, why take an internship? Why work more than 40 hours a week? It'll all go in PAYE/PRSI and USC anyway, as ALL your earnings will be taken into account for tax purposes.
2 Why would an employer PAY an Intern anything, when they can get them for free?
3 Speaking as an adult, Good Luck haggling.

moy83

If you're getting a small loan first would you get enough for a small car that needs work ? I think you said you are handy with cars , if you could get something cheap that needed a few bits for the nct you could make a few quid out of the loan while you were waiting for the bigger loan .
5k is alot for a car loan when you're out of work , if thats to cover tax and insurance aswell dont forget that if you have to sell the car to clear the loan you probably wont be able to the tax and insurance money back .

vwhead

Deleted User wrote: »

1 If there are jobs out there, why take an internship? Why work more than 40 hours a week? It'll all go in PAYE/PRSI and USC anyway, as ALL your earnings will be taken into account for tax purposes.
2 Why would an employer PAY an Intern anything, when they can get them for free?
3 Speaking as an adult, Good Luck haggling.

what you just said makes no sense. and speakin as a young adult if you opened your eyes you would see that finding a job is not as easy as you think it is!

finnharpsboy

have you got someone to sit on with you when your out and about in the car? The Garda are on the lookout for unaccompanied L drivers

vwhead

moy83 wrote: »

If you're getting a small loan first would you get enough for a small car that needs work ? I think you said you are handy with cars , if you could get something cheap that needed a few bits for the nct you could make a few quid out of the loan while you were waiting for the bigger loan .
5k is alot for a car loan when you're out of work , if thats to cover tax and insurance aswell dont forget that if you have to sell the car to clear the loan you probably wont be able to the tax and insurance money back .

put then i would need money to buy the parts for nct ? and i would haveta insure it to drive it to nct centre and what not in my opinion its a waist doing that i think but good advice all the same and yea i know i wouldnt get that money back but atleast id have more money to put at repayments if it went wrong

vwhead

finnharpsboy wrote: »

have you got someone to sit on with you when your out and about in the car? The Garda are on the lookout for unaccompanied L drivers

il have my full lisence by the time i get everything going and even if i didnt yes a few of my mates have full lisences

thecomedian

How long is the loan over?
What will the weekly repayments be?

vwhead

thecomedian wrote: »

How long is the loan over?
What will the weekly repayments be?

loan of 5k would be over 5 years and be about 22 or 23 euro a week

Cleveland Hot Pocket

vwhead wrote: »

or english teacher maybe ?

Perhaps not the best course for you to take.
Why don't you get a smaller loan and get an older car? Something like a fiesta or a micra that can be picked up for 600 quid with tax and NCT.

Then repay the small loan for the 1-2 years needed and save something weekly at the same time. Afterwhich you will be better placed to borrow a larger amount and have a nicer car. You might even have garnered full time employment by then, at which point you would be in a better position to have a larger loan and be able to make the repayments.

By the way, you come on here asking for advice, get the advice, and then proceed to ignore it. Why bother asking advice in the first place if you already knew what you were going to do?

vwhead

Cleveland Hot Pocket wrote: »

Perhaps not the best course for you to take.
Why don't you get a smaller loan and get an older car? Something like a fiesta or a micra that can be picked up for 600 quid with tax and NCT.

Then repay the small loan for the 1-2 years needed and save something weekly at the same time. Afterwhich you will be better placed to borrow a larger amount and have a nicer car. You might even have garnered full time employment by then, at which point you would be in a better position to have a larger loan and be able to make the repayments.

By the way, you come on here asking for advice, get the advice, and then proceed to ignore it. Why bother asking advice in the first place if you already knew what you were going to do?

all you doing there is making the process longer why dont i just do it and have it done and that way i wont haveta worri about getting another loan and il have the car i want ?

Kopparberg Strawberry and Lime

When I was 19/20 about 2/3 years ago I bought my first car

a 2007 civic (for non boy racing reasons)

but I didnt take a loan,I had a job and just saved up. I made a point to never take a loan for something like this that could potentially go wrong after a few days and be leftwith no car but still a loan !

id just wait if I was op and save up and get a car with no loan and think about the car I want abd keep for atleast 2 years !

lkionm

This thread is wonderful.


I remember my first beer

vwhead

Kopparberg Strawberry and Lime wrote: »

When I was 19/20 about 2/3 years ago I bought my first car

a 2007 civic (for non boy racing reasons)

but I didnt take a loan,I had a job and just saved up. I made a point to never take a loan for something like this that could potentially go wrong after a few days and be leftwith no car but still a loan !

id just wait if I was op and save up and get a car with no loan and think about the car I want abd keep for atleast 2 years !

i agree with ya but i know when i get my car im going to be keeping it for more than 2 years i dont have any plans to sell it as i love them and saving wudnt be the best as that wud take alot of time because id haveta save for the car then the insurance and then the tax id be better off just gettin the loan to cover thos 3 and then i can be saving for tax and insurance the following year

thecomedian

vwhead wrote: »

loan of 5k would be over 5 years and be about 22 or 23 euro a week

Ok, in year 2 the car will cost you €90 a week. That's with nothing too major going wrong.

I'd always encourage someone getting a car. In your case the best thing you could do is keep saving for another bit, it will be a huge help. Loans are a pain in the arse.

vwhead

thecomedian wrote: »

Ok, in year 2 the car will cost you €90 a week. That's with nothing too major going wrong.

I'd always encourage someone getting a car. In your case the best thing you could do is keep saving for another bit, it will be a huge help. Loans are a pain in the arse.

yea im gunna safe for an xtra month and get a loan of 3500 instead of 500 and that shud cover everything for the first year and make it abit cheaper to repay if i get 3500 each repayment wud be 16.50 a week

hi_im_fil

vwhead wrote: »

i agree with ya but i know when i get my car im going to be keeping it for more than 2 years i dont have any plans to sell it as i love them and saving wudnt be the best as that wud take alot of time because id haveta save for the car then the insurance and then the tax id be better off just gettin the loan to cover thos 3 and then i can be saving for tax and insurance the following year

If you do get a loan you're still going to have to save up for taz and insurance for the following year. AND still pay off your loan repayments.

I'll put it this way - I'm in fulltime employment and theres no hope I'd take out a 5k loan over 5 years for a car! I'd be interested to see your budget you've worked out for the year? €100 a week is not enought to live comfortably while running/maintaining a car.

Another thing I noticed was that you said you might be getting an internship which would provide more money. And that you could bargain with the employer for more money! Thats madness. There are thouands of others out they who would gladly take an internship for the €50 extra or whatever it is. Don't be relying or budgeting on this extra income. You're struggling to find a paying job at the moment for gods sake.

moy83

vwhead wrote: »

all you doing there is making the process longer why dont i just do it and have it done and that way i wont haveta worri about getting another loan and il have the car i want ?

Dont think anyone is trying to stop you vw . But speaking for myself , I had car loans when I was young and never foresaw any problems with repayments until of course money was needed elsewhere or I wasnt earning . Its only then it will hit you .
Like you I didnt want to settle for a cheaper run about but now with a few loans behind me I would nearly cycle to work before taking out a car loan .
Also you are saying your SW is being topped up in sept , thats 9 months away . Try and get some sort of a job in that space of time instead of waiting for a top up in dole and you could be driving a bmw in a few years

thecomedian

vwhead wrote: »

yea im gunna safe for an xtra month and get a loan of 3500 instead of 500 and that shud cover everything for the first year and make it abit cheaper to repay if i get 3500 each repayment wud be 16.50 a week

16.50 would bring it down to €83 a week.
You can't assume anything when taking a loan out.
If you can hold out for 6 more months just think of what you would have saved.

Also this isn't the right place to be asking about CU loans. You will just get decent car advice here.

Sam Kade

vwhead wrote: »

trust me the diesel option is way cheaper than the petrol i got a qoute of 990 on my own policy on a diesel bora then i tried the same company and details on a 1.3 corrolla g6 and they wanted 2500 grand off me so theres ur savings straight away and yeah the fuel is abit cheaper but it has better mpg than a petrol version and way more power. and i wudnt even get the sniff on insurance on a 1.8 litre petrol car diesel is cheaper to insure no matter the engine sizes

Where did you get that quote?

vwhead

hi_im_fil wrote: »

If you do get a loan you're still going to have to save up for taz and insurance for the following year. AND still pay off your loan repayments.

I'll put it this way - I'm in fulltime employment and theres no hope I'd take out a 5k loan over 5 years for a car! I'd be interested to see your budget you've worked out for the year? €100 a week is not enought to live comfortably while running/maintaining a car.

Another thing I noticed was that you said you might be getting an internship which would provide more money. And that you could bargain with the employer for more money! Thats madness. There are thouands of others out they who would gladly take an internship for the €50 extra or whatever it is. Don't be relying or budgeting on this extra income. You're struggling to find a paying job at the moment for gods sake.

if u done the maths you would see that i can afford to save up for tax and insurance for the following year and repay the loan. i life at home i dont spend my money on anything else so ib be comfortable enough. i actually said aswel that if you know the employer you could get abit more. and theres plenty of places around here that look for deliverie drivers so that would be a help to.

vwhead

Sam Kade wrote: »

Where did you get that quote?

qouteme.ie

hi_im_fil

vwhead wrote: »

if u done the maths you would see that i can afford to save up for tax and insurance for the following year and repay the loan. i life at home i dont spend my money on anything else so ib be comfortable enough. i actually said aswel that if you know the employer you could get abit more. and theres plenty of places around here that look for deliverie drivers so that would be a help to.

If you know an employer why don't you try get a job with them now rather than relying on the dole?

vwhead, what will you do if you fail to pass your test AND fail to get a loan? I'm NOT having a pop at you, just pointing out that reality gets in the way of our dreams and desires. Life has a way of not turning out as you would wish. Learn to look at all angles and when you ask for advice, at least listen to it. Most of us urging caution are doing it for one reason only - We've been there and suffered the consequence of rash single minded thinking and are passing on the lessons we learned.

vwhead

hi_im_fil wrote: »

If you know an employer why don't you try get a job with them now rather than relying on the dole?

if it worked like that everyone would be employing there buddies unfortunatly its easier to get an internship that a full time job.

vwhead

Deleted User wrote: »

vwhead, what will you do if you fail to pass your test AND fail to get a loan? I'm NOT having a pop at you, just pointing out that reality gets in the way of our dreams and desires. Life has a way of not turning out as you would wish. Learn to look at all angles and when you ask for advice, at least listen to it. Most of us urging caution are doing it for one reason only - We've been there and suffered the consequence of rash single minded thinking and are passing on the lessons we learned.

do it again i will have my test date next month so that is before the car comes if i fail i will not insure the car until i have it passed. if i fail to get the loan then i will do it the long way! and if u read my first comment on this you will see that i was asking to get advice on the best way to talk to the credit union not how to run a car. and i listen to the advice that i have asked for and awnser my question all you did was give sly remarks and act childish thats why i am not lisinting to you.

van_beano

vwhead wrote: »

loan of 5k would be over 5 years and be about 22 or 23 euro a week

vwhead wrote: »

yea im gunna safe for an xtra month and get a loan of 3500 instead of 500 and that shud cover everything for the first year and make it abit cheaper to repay if i get 3500 each repayment wud be 16.50 a week

You're looking at a car loan with an interest rate of roughly 4.95%. Is it possible to get a Credit Union car loan interest rate that low?

lkionm

vwhead wrote: »

do it again i will have my test date next month so that is before the car comes if i fail i will not insure the car until i have it passed. if i fail to get the loan then i will do it the long way! and if u read my first comment on this you will see that i was asking to get advice on the best way to talk to the credit union not how to run a car. and i listen to the advice that i have asked for and awnser my question all you did was give sly remarks and act childish thats why i am not lisinting to you.

Probably best to strut into the office, whip out your willy, tell him he knows nothing about finance all while making him maintain eye contact with your willy.


Then ask him to give you money which they will pluck out of the air for possibly their riskiest customer.


Bonus points if you shave your pubes into a face.

vwhead

lkionm wrote: »

Probably best to strut into the office, whip out your willy, tell him he knows nothing about finance all while making him maintain eye contact with your willy.


Then ask him to give you money which they will pluck out of the air for possibly their riskiest customer.


Bonus points if you shave your pubes into a face.

if thats the way u behave in public i worry about little kids walking home!

lkionm

vwhead wrote: »

if thats the way u behave in public i worry about little kids walking home!

You asked for advice on how to talk to the credit union?? Not the best course of action when walking past a school.


listen to the advice will ya.

vwhead

lkionm wrote: »

You asked for advice on how to talk to the credit union?? Not the best course of action when walking past a school.


listen to the advice will ya.

yes i asked for advice on how to talk to the credit union not advice on how to get meself arrested and put on a sex offenders list.

read the thread will ya.

http://www.youtube.com/watch?v=1pm4fQRl72k

@about

OP Can you run through all your figures again.

The 5K is for car, insuranse, tax, including or not including fuel ?

The 5K you want to pay back in 5 years . paying 20 euro's a week, correct ? Don't forget interest @about 12-16% on a 5 year loan.

I think it would be much easier if you break your total costs down into 1 year and see how much 1 year of motoring will cost you.

Please folks can we keep this civil ?

thecomedian

vwhead wrote: »

yes i asked for advice on how to talk to the credit union not advice on how to get meself arrested and put on a sex offenders list.

read the thread will ya.

This is the motor section.
It's not the best place to get advice on loans.

vwhead

Deleted User wrote: »

OP Can you run through all your figures again.

The 5K is for car, insuranse, tax, including or not including fuel ?

The 5K you want to pay back in 5 years . paying 20 euro's a week, correct ? Don't forget interest @about 12-16% on a 5 year loan.

I think it would be much easier if you break your total costs down into 1 year and see how much 1 year of motoring will cost you.

its for buying the car taxing it and insruing it thats it. yes ur correct but the intrest rate is lower its 8.6% ive got this figures from the CU loan calculator. thats the way i have worked it out the cost of it.

thecomedian

[Deleted User] wrote: »

OP Can you run through all your figures again.

The 5K is for car, insuranse, tax, including or not including fuel ?

The 5K you want to pay back in 5 years . paying 20 euro's a week, correct ? Don't forget interest @about 12-16% on a 5 year loan.

I think it would be much easier if you break your total costs down into 1 year and see how much 1 year of motoring will cost you.

I tried doing it for him. With his two options, i got 83 to 90 a week.

vwhead

vwhead wrote: »

its for buying the car taxing it and insruing it thats it. yes ur correct but the intrest rate is lower its 8.6% ive got this figures from the CU loan calculator. thats the way i have worked it out the cost of it.

OK, so now break down what it will cost you for one year.

How long do you expect the 5 K to last ?

Nino Brown

Why is everyone so worried about the finance of it if the OP isn't. If he gets the loan, which is a very big if, the he'll have enough money to run the car for a year at least. This will broaden his job prospects, and teach him a lot about the running costs, which I think he is underestimating, but that's his business.
If at the end of year, he can't afford to run the car anymore, he can sell the car, pay off some of the loan and pay back the rest quite easily. Valuable lesson learned for a few hundred quid lost.

lkionm

vwhead wrote: »

its for buying the car taxing it and insruing it thats it. yes ur correct but the intrest rate is lower its 8.6% ive got this figures from the CU loan calculator. thats the way i have worked it out the cost of it.

Look, since you have all this money worked out.

You have hardly any money to your name. You will want to go to london with the gf in the summer or some crap like that.

See that 8.6% you are just farting away.

The oppurtunity cost of that 8.6% is you getting your hole in some nice hotel in london rather than waiting for your parents to go to sleep.

Just get a punto and run it into the ground and arse around with your friends that way. Have more fun rather than worrying if this mars bar I am about to buy is gonna mean I cant repay the loan.