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[amigov6]

 :(Much as i REALLY REALLY REALLY want a mini facelift 3ltr manual MV6 i've learned my lesson just in time. I've got 18 months left on a 5 yr loan for buying & re-chassis job on a 1982 Landy which owes me 5k, i'd be lucky to get 2k for it. I also had finance on a 306 peugeot which was nearly paid and i fell for letter telling me i could choose any car up to £4500 from a dealer.
       So being a complete t**t i scoured the Trader & bought a 51plate Saxo VTR for 4k. that idid'nt really want. Within 6 months i took out a bank loan to pay off the finance so i could sell the car i nshould never have bought in the first place.
         I then sold the Saxo for just short of 3k(another loss) & with that money bought this pc, laminate floor, paid smaller stuff off & my my Mig for £950(first good purchase).
          To sum it all up i'm opening my financial mess to all & most of you have more sense. I've stopped in time but do'nt be tempted to finance what you ca'nt afford. all these lenders only want your house.
     I'm paying it all off slowly & have no arrears but wo'nt have the MV6 'til i can buy it.
        I'm still paying my mortgage etc. but no more finance.
             DO'NT DO IT!!!!!!!!!

[Admin]

You have learnt before it was too late.  

Very easy trap to fall into, when I was a teenager I ran up far too much on credit cards.
That taught me a hard lesson.

[tunnie]

its all to easy to do. I just bought a Nikon D80 SLR on my credit card, but i have a pile of cash next to me to pay it off. (sale of my boat)

I personally make sure I have the money in full before i buy, i bought my Omega out-right no finance. Cost me 2.7k and most of my saved up student loan at the time.

Best thing i ever did with it, I use the car all the time, and meet you guys because of it  

[Marks DTM Calib]

i bought my Omega out-right no finance. Cost me 2.7k and most of my saved up student loan at the time.

Student loans are still a form of finance....its a loan, it incurs interest, it has to be paid back....

[raximax]

banks and loan componies give out money far to easily .   when i was young i got 1 loan after another for cars then i got a credit card ..its amaising how much petrol you can go through when you dont have to part with real money,,,more sence now wont have a credit card now....not to bad as i was staying with mummy at the time....

[STMO123]

You have learnt before it was too late.  

Very easy trap to fall into, when I was a teenager I ran up far too much on credit cards.
That taught me a hard lesson.

Aren't you an accountant now LB?

[tunnie]

i bought my Omega out-right no finance. Cost me 2.7k and most of my saved up student loan at the time.

Student loans are still a form of finance....its a loan, it incurs interest, it has to be paid back....

The interest is at the rate of inflation, also no one will break down my door demanding money. Even earning 25k, its only £30 per month out of my pay. I have to earn about 21k to even start paying it back.

Its finance, but not as we know it.  

[Elite Pete]

i bought my Omega out-right no finance. Cost me 2.7k and most of my saved up student loan at the time.

Student loans are still a form of finance....its a loan, it incurs interest, it has to be paid back....

The interest is at the rate of inflation, also no one will break down my door demanding money. Even earning 25k, its only £30 per month out of my pay. I have to earn about 21k to even start paying it back.

Its finance, but not as we know it.  

Thats right Tunnie, my stepdaughter is 27 and is paying her student loan off at a few quid a month. I think she should have got rid of the burden by the time she retires

[Danny]

its good to see you've realised before it's too late

i only ever got finance once, on a digital camera for my mum for her birthday, managed to pay it off within the interest free period, being just £250

i'm extremely careful with money, i dont have many luxuries, but i have what i need to get me by, and i have no debt

i too bought my car outright for £2,400 including its extras (the alloys and spoiler), my brother did the same with his lexus at nearly £7k (i told him he could have had an elite for half that, he wouldnt listen!)

when we were younger we couldnt afford to buy such stuff, I only started driving at 23 and my brother at 25, because i didnt have the money and i refused to let finance be an option when spending so much money

i dont have credit cards at all, of any sort, and i plan to go as long as i can without them until i come to a point where i have no choice, but at 26 i hope i still have a long way to go. I wont buy anything unless I have the cash to buy it, and that cash has to be "spare" cash too!

I had a mate who just spent all his money on garbage, and might I add, this is his dole money, he'd go out and buy a playstation and some games, and leave himself without food for 2 weeks!!

[Taxi_Driver]

I prefer to pay cash usually, obviously  

But sometimes use my credit card when i have too.....like im about to buy 6 new tyres off the interwebby.

Also when I buy electronic goods, white goods, etc i will use my cc coz my cc comp will extend the warranty to 3 years foc if i phone them up and register it with them.....tho this is limited to so many purchases per year....also they try to sell you a 5 year warranty....tho this tends to be about 1/2 the price the high st shops want for 5 years cover  

[Danny]

another reason i dont use cards is card fraud! i look dodgy as hell at cash machines cos i pull on them incase there's a false front panel!!

but that's another story!

[Darth Loo-knee]

I think most people have or have had loans and finance at sometime.... I did when I lived with my Mum and Dad, I can here them now when I turned up with my Yamaha 350 YPVS    "Oh Darren why didn't you save up for it, you will be forever paying it back and it won't be worth half as much when you have paid it off!"
But i saw it and wanted it NOW!  
this seems to be the way now, no-one wants to wait, no-one listens to Mum and Dads advise either (well I didn't) what do they know.... but then 18years down the line I have two daughters that i am trying to teach the same things.... "If you save half and spend half you will always have some when you need it" but really I know they will do the same

Click the word Picture to see what I bought

[amigov6]

its all to easy to do. I just bought a Nikon D80 SLR on my credit card, but i have a pile of cash next to me to pay it off. (sale of my boat)

I personally make sure I have the money in full before i buy, i bought my Omega out-right no finance. Cost me 2.7k and most of my saved up student loan at the time.

Best thing i ever did with it, I use the car all the time, and meet you guys because of it  

:)I know some of the lads playfully rip the piss out of you but without being patronizing you've got your head screwed on. I'm twice your age and just realizing how close i came to losing the lot.
     I could never buy another house if i were to lose this one, & sadly many people do.
         Better late than never. The irony is that without the repayments it would'nt take long to save up for the MV6!!! [smiley=2vrolijk_08.gif]

[JamesV6CDX]

Just over a year  back, I got seriously in the sh*t with money.. probably 11/12,000 plus debt.

Now, I've got it below 4,000, so I'm paying it off well..

been a tough year though... and in another 12 month's, it'll be well behind me...

[cbx550bertie]

i am probably the worst case senario for this... i am currently 1 year into an I.V.A. i`ve got 4 years to go then i`ll be debt free..but i`ll never be able to buy a house,get a car on credit,have a cc or even be allowed to have an overdraft not unless i go to your companies that cover people with a bad credit history i.e. pay extornaite rates of interest. Well that was my fault i tried to keep up with the jones so to speak an now i pay the price but i`ve learned all be it to late that if you want it SAVE FOR IT!! don`t get yourself in my mess the only people who win are the credit lenders and the debt management companies who convince you its in your best interest to go into bankruptcy an iva`s.. if you are in this mess don`t panic there is always a way out of it 1st goto your local C.A.B. an talk to em they advise you an help write letters to your credit lenders 2nd cut up your cards even your debit cards pay cash for everything you can keep track of your money better and 3rd talk to the people who matter in your life a trouble shared is a trouble halved there are people more worse off than you i see em most days in my job..one thing i would dearly love to do is win the lottery..not a lot you understand just enough to get me an my family outa this mess..but that wont happen i know it wont cause my task is to work myself outa of it an i promise you i will...