Hi

I am 19 years old student currently on my 2nd year at uni. Recently I just found out my W reg Vauxhall corsa need a lot of repairs costing up to £2,500 . Well it is not worth the repairs especially with 105,000 on the clock. So I have got no choice but buy a new car. I really need to get the loan in my name not in my parents name. I dont want to give them to much hassles.

I am stuggling to find a car loan of £6,000. I am not sure if the bank lenders will lend me £6,000 even though I am not in full employment. However, I do work part time and 500 a month plus I get a small allowance from my family of £150 a month.

I would like to get a loan between 36 months to 48 months. Any extra cash I get, I will put it away to pay off the loan.

any advices please.

Much Appreciated

"I have got no choice but buy a new car" - there are always choices.

If cash is tight, perhaps now is not the time to upgrade. If you visit autotrader.co.uk you can find many W reg Corsas for £600 to £800. Most of those are taxed, tested and don't need any repairs. Google around for advice on viewing cars before you look at any though. In my view, it's better to buy privately from someone who's had the vehicle for a few years and you should judge the person selling the car as well as the car itself. If you look at different models you will need to check out insurance costs before deciding.

In your current circumstances, you would not be doing yourself any favours by taking on a commercial loan for £6k.

Hi

Thank you for the advice. I have decided not to take the loan as it wasnt worth it for me. I didnt want to get myself into debts. As I decided to get myself another corsa for 1 grand and runs perfectly well without taking a loan.

Martine