30k personal loan (help) - Page 4

T3ts50 · 07-01-2007, 07:38 PM

Quote:

Originally Posted by MITCHAY

Another reason why it is good to buy a car outright.

That is a good idea. My mum bought a brand new Focus outright but before she did sshe asked me would it be better getting finance and keeping her cash earning interest on it. I told her that you can earn 6% on the cash but you will be paying close to 13% interest on the loan.

If you dont want to buy a house, fair enough its up to the individuals choice, you seem to be on a very good wage espicially for your age. Why dont you save the cash to pay for the car instead of getting a loan, or maybe even save 15K and get a 15K loan. I was living off $200 a week when I was your age, which was 8 years ago, surely you can save the money.

I FluXx I · 08-01-2007, 12:38 AM

Quote:

Originally Posted by XRQTOR

I borrowed $35,ooo to buy my BA MKII xr8 when i was 19, i had the rest in cash. Since then iv'e spent another $2o,ooo on it between the blower, trim, brakes, wheels and what not. 2 & 1/2 year's later it's nearly paid off, i also now own a BF xr8 ute and as of tomorrow another Ba xr8 sedan. Sold a BF about 2 months ago i had bought and made $12,ooo on it.

A **** house in sydney is still worth $35o,ooo. Intrest only would be $5oo a week, thats half of what i take home each week in intrest only. For now i'll stick with my car's.............

I am very interested in what you do. Wait. What do you do!!!!

How did you make money on the BF? Did you buy it second hand?

I FluXx I · 08-01-2007, 12:47 AM

Quote:

Originally Posted by chich

I honestly don't understand the problem here - you boast about clearing $1000 a week yet you need a loan to buy a $20K car? Sit your a$$ down, manage your money properly and before you know it you'll be able to buy the car you want outright in 8 or 9 months time. If i was in your situation i'd be doing things a little differently by leasing a work van and writting it all off on tax.

In regards to buying a house you do understand that you'll need to do it sooner or later don't you? These days $350K buys you something decent in most cities.. in 10 years time that figure will be $500K. Don't know about you but i'd much prefer paying interest on $350K..

Mate, you have to be earning alot more than $1000 a week to buy a decent house in or around perth these days. The average house price for perth these days is something like over $450 000. You have to be a complete idiote to buy a house here at the moment.

XRQTOR · 08-01-2007, 12:52 AM

Quote:

Originally Posted by I FluXx I

I am very interested in what you do. Wait. What do you do!!!!

How did you make money on the BF? Did you buy it second hand?

I work for a transport company lol. I can't tell you everything now can i, but i do have some part's forsale that may intrest you.

I FluXx I · 08-01-2007, 01:50 AM

send me a PM with the parts you have. Theres a stck of XR parts I need

XRQTOR · 08-01-2007, 07:54 AM

Quote:

Originally Posted by I FluXx I

send me a PM with the parts you have. Theres a stck of XR parts I need

Have a look in the forsale forum there's a huge list there.

Beetus · 08-01-2007, 09:18 AM

one thing im saying...................ill have loan insurance pays out my loan when im sick or dead or so on....

I FluXx I · 08-01-2007, 02:45 PM

Quote:

Originally Posted by Beetus

one thing im saying...................ill have loan insurance pays out my loan when im sick or dead or so on....

I say go for it. Just try and pay your loan of early. My car is under finance and I just got it refinanced today through the bank. Im paying alot less per month. Im aiming to have my loan paid off within a year to a year and a half.

flappist · 08-01-2007, 02:56 PM

Quote:

Originally Posted by Beetus

one thing im saying...................ill have loan insurance pays out my loan when im sick or dead or so on....

Read the fine print.

Beetus · 08-01-2007, 03:02 PM

well im goin for it i got the rest of life for a house not to mention the prices of houses where i am. i see it as securing my job having a nice car and paying the same amount in repayments a month as i am now just for a lil longer. i could still pay it off qucker if i want. thanks for your comments though even if i dont agree with some of them, not all of us wany houses haha na thanks but. thanks to all

merlin · 08-01-2007, 03:28 PM

Quote:

Originally Posted by Beetus

well im goin for it i got the rest of life for a house not to mention the prices of houses where i am. i see it as securing my job having a nice car and paying the same amount in repayments a month as i am now just for a lil longer. i could still pay it off qucker if i want. thanks for your comments though even if i dont agree with some of them, not all of us wany houses haha na thanks but. thanks to all

If your actual take home pay is $1100 a week (which is roughly $80K a year) you could afford to pay off a car AND a house (seeing as you dont live in Sydney)....

Beetus · 08-01-2007, 04:28 PM

Quote:

Originally Posted by merlin

If your actual take home pay is $1100 a week (which is roughly $80K a year) you could afford to pay off a car AND a house (seeing as you dont live in Sydney)....

umm 1100 times 52 is 57k a year, i have other business expenses mainly fuel

XR06T · 08-01-2007, 05:03 PM

Quote:

Originally Posted by Beetus

umm 1100 times 52 is 57k a year, i have other business expenses mainly fuel

merlin is talking taxable income..

and if 1100/week is what you take home and have to spend then house + car shouldn't be a problem..
i do it on not far over half what you take home!

poolkeeper · 08-01-2007, 05:20 PM

Quote:

Originally Posted by merlin

If your actual take home pay is $1100 a week (which is roughly $80K a year) you could afford to pay off a car AND a house (seeing as you dont live in Sydney)....

People (that want to buy a home) and are living in Sydney are stuffed then?? lol

merlin · 08-01-2007, 05:22 PM

Quote:

Originally Posted by D1XR2C

People (that want to buy a home) and are living in Sydney are stuffed then?? lol

nah just a lot harder...i bought 2 years ago, it has actually come down a bit since then

merlin · 08-01-2007, 05:25 PM

Quote:

Originally Posted by Beetus

umm 1100 times 52 is 57k a year, i have other business expenses mainly fuel

as already stated I was talking net pay as I was assuming you actually take home $1100 per week after tax.

Beetus · 08-01-2007, 07:26 PM

Quote:

Originally Posted by XR06T

merlin is talking taxable income..

and if 1100/week is what you take home and have to spend then house + car shouldn't be a problem..
i do it on not far over half what you take home!

i stated i take home bout 900 a week earlier in the post.......houses down here are massive in price btw a crap house in the bronx of albany is like 250k for a el cheapo like 1 bedroom house lol

23-09-2011, 10:23 PM

I'm 21 own my own car have a house well half coz my parents paid for half own a workshop well half coz of my parents and managed to buy a 11 grand engagement ring for my girlfriend how can u not save man. Budget your money doesn't matter how much u put away just put Money away even get a savings account where u can't touch it and build up intrest

MITCHAY · 23-09-2011, 10:44 PM

Lol massive mine. Dug to China. Funny though looking back I do wish I bought a house instead haha.

Having said that I still have a decent amount of cash for a deposit it's just the job situation stopping me at the moment. It's not to say I haven't enjoyed my car but I haven't done literally anything I planned on doing just been far too busy.

If anything this has demonstrated to me that your priorities can change quite a bit in what would be a relatively short time. My last post here was 4yrs ago lol