Buying my first car advice?

lcstress2012

Hi, I'm 21 and have been driving since I was 17, have my full licence since I was 18 and have been a named driver on my parents insurance policy for the past 4 yrs.
Now I want to get my own car and own insurance and need some financial and buying advice. I work full-time, 40 hrs a week by the way. Earning 370 a week.

I currently have 4 and a half grand in my bank account. Have some money but not much in my credit union (only put a tenner in a week). My mam said they'll never give me a loan cause I only put in so little.

They don't want me to take the money from my bank account but I do. I would be only taking out 1500 (limit for the car) then all I need would be to pay insurance by direct debit per month.

Should I take it out of my bank account, my money at the end of the day or the credit union?

Also thinking of buying a 1.2 L Punto or VW Polo so any advice would be great.

Sitec

lcstress2012 wrote: »

Hi, I'm 21 and have been driving since I was 17, have my full licence since I was 18 and have been a named driver on my parents insurance policy for the past 4 yrs.
Now I want to get my own car and own insurance and need some financial and buying advice. I work full-time, 40 hrs a week by the way. Earning 370 a week.

I currently have 4 and a half grand in my bank account. Have some money but not much in my credit union (only put a tenner in a week). My mam said they'll never give me a loan cause I only put in so little.

They don't want me to take the money from my bank account but I do. I would be only taking out 1500 (limit for the car) then all I need would be to pay insurance by direct debit per month.

Should I take it out of my bank account, my money at the end of the day or the credit union?

Also thinking of buying a 1.2 L Punto or VW Polo so any advice would be great.

I'd approach the credit union, even by saving 10e with them a week you are showing you can save money. Much better than 20e or 50e every 3 months etc.

Regarding the Punto or Polo question, it really depends on the individual car with 1.5k to spend. Look for service history etc.

Sh1tbag OToole

You can buy a used Fabia which is really just a slightly cheaper used polo for 1500 or less.

It doesn't make sense to take out a loan when you have the money. You'll be paying a lot in interest when there is no need to. You'll earn a couple % if you're lucky on your savings but you'll be spending 5% or more in interest if you take out a loan

Duke O Smiley

Don't buy a Fabia. They are dire, dire cars.

Something like this would be a good bet

http://cars.donedeal.ie/cars-for-sale/fiat-seicento-sporting-1-1-very-low-mileage/8809834?offset=15

Sh1tbag OToole

Duke O Smiley wrote: »

Don't buy a Fabia. They are dire, dire cars.

Something like this would be a good bet

http://cars.donedeal.ie/cars-for-sale/fiat-seicento-sporting-1-1-very-low-mileage/8809834?offset=15

What is so bad about them? Mine has served me well

Duke O Smiley

Sh1tbag OToole wrote: »

What is so bad about them? Mine has served me well

I drove a 1.9 SDI saloon briefly and I still feel the cold plastics of the dash in my nightmares.