I feel the discipline of learning to budget during the previous 60/72 months may go some way to knowing what we can/can't afford. Each to their own. I'm sure Andy will come along at some point and comment on the comment in respect of his post.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I agree we are all adults nepensioner and yes the decision people make post IVA will be down to them but I personally won't watch everyone telling someone to take out a 10k finance plan straight after finishing an IVA before they've had a chance to build up any savings or contingency should a rainy day stop them from paying for this new shiny car and leave them in trouble once again.
I urge caution, self restraint and to save for things you want post IVA If you want them and if you have to resort to finance make it small so you don't make yourself vulnerable once more
We need to be frugal more important post IVA,thats when the real challenge starts,i hav,nt got a IP now to watch my back and neither will you lot,if your in a sound position to finance new cars etc then thats fine,but lets not promote the fact that once we are debt free we can go for a free for all with finance,and loans etc,we all have one thing incommon,been given a second chance regarding debt,lets not forget that.
I am sure you will make your own choices nepensioner but if you are already retired you don't have the luxury of overtime/bonuses to try and get yourself back on your feet if your finance goes wrong so please be careful I am only saying this cause I care
credit scares me after all this BUT i can't see how most people could afford a car without some form of credit.
as already posted,big lessons learnt during a IVA, so we should take care to stick to what we can manage.we/i wouldn't entre into any £ commitment lightly after all this -EVER.
Nothing stays the same...everything changes..hang on in there!
credit scares me after all this BUT i can't see how most people could afford a car without some form of credit.
as already posted,big lessons learnt during a IVA, so we should take care to stick to what we can manage.we/i wouldn't entre into any £ commitment lightly after all this -EVER.
Nothing stays the same...everything changes..hang on in there!
credit scares me after all this BUT i can't see how most people could afford a car without some form of credit.
as already posted,big lessons learnt during a IVA, so we should take care to stick to what we can manage.we/i wouldn't entre into any £ commitment lightly after all this -EVER.
Nothing stays the same...everything changes..hang on in there!
Personally I do not need a new car at the moment and hope mine lasts. However whilst I could afford to buy a new car its not on my priority list, but I do respect other peoples decisions.
Rosepetal people's IVA contributions can vary from 100 to thousands of pounds a month if you're on a 600 a month IVA Within 5 months of being free of it I could have 3k saved up to buy a car with no finance. People will have different circumstances but if your disposable income is extremely low then the dangers of taking on finance is even worse so you could argue that those who feel in greater need due to low income are the greater risk and need to think even more carefully before taking on a big debt. After all creditors reject people if the disposable income is not great should you not take on board this is for good reason and not try to get around it?
Daveyboi, I am perfectly aware I ended up bankrupt and I am also perfectly aware that the OR would not have viewed a brand new car as a necessity. However, please don't tell me how to live my life. I learned a very tough lesson by going bankrupt and if I decide I want a brand new car at sometime in the future you can be damn sure I will have gone through my income and expenditure to make sure I can afford it.
Glad you do skippy. Was simply referring to your previous post where you say a car is a necessity for some and not a luxury. I am pointing out that a 10k car IS a luxury and not a necessity
I am not telling you what to do its quite apparent you have made up your mind already but people come on here for advice and if some of you wish to advise them to take out finance for a new car then equally I will advise against it from my personal point of view
Next time you reply to me try don't speak to me in such a tone. I felt I was being spat at for quite simply having an opinion
Meant to add,that I would never ever(even after a lottery win),buy a brand new car to watch is depreciate massively just by driving it out the showroom.
I bought a renault megane once,£16985 new. Mine was preregistered at the dealers and had 360 miles on the clock. I paid £9995.
My brother buys a new car every 3 years,never has to worry about MOT's etc. In the 3 1/2 years of our trust deed our MOT's have added up to almost the same as the value of the 2 cars.
There are clearly benefits for new and used cars.
I still want an Audi.(and will have one)
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Yes but Paul on a year you could save up for a decent car to replsce the temporary one without having to resort to finance of a large amount is my point. Not how long the car will last.
If you speak to a debt advisor the frame of mind that they want for you is to always be in front. In this case a small easily affordable finance option to ensure you can get to work whilst saving monthly, doing overtime if possible in order to obtain a nicer/newer car later with no huge debt
This is the difference between someone living their life in credit or in debit
Last edited by Daveyboi on Sun Jan 22, 2012 8:40 pm, edited 1 time in total.
