Best way to buy car on weekly terms

dingding

https://www.vertex42.com/Calculators/auto-loan-calculator.html

Hi Andy,

The link above allows you to download an excel spreadsheet which calculates loan repayments based on term APR and loan amount.

When you figure out your weekly or monthly budget, you can reverse these payments into a loan amount.

This might give you realistic figures for the sort of loan you could afford.

If you qualify based on the common bond, you should check a couple of credit unions as they have different rates.


https://www.sligocu.ie/loans/loan-calculator/

Sligo Credit union charge 7.75% on a car loan.

As an example, 10K over 5 years costs 46.77 per week.

That is a set of spark plugs and spanner each week.

You will also have paid 2,100 interest over the term.

Your original budget of 39 per week would get you 8,500 over 5 years.

You would need to get 10,000 over 6 years to come in at just over 40 per week.

I would suggest saving the loan amount for a while to see if it was a realistic option.

Andy From Sligo

dingding wrote: »

https://www.vertex42.com/Calculators/auto-loan-calculator.html

Hi Andy,

The link above allows you to download an excel spreadsheet which calculates loan repayments based on term APR and loan amount.

When you figure out your weekly or monthly budget, you can reverse these payments into a loan amount.

This might give you realistic figures for the sort of loan you could afford.

If you qualify based on the common bond, you should check a couple of credit unions as they have different rates.


https://www.sligocu.ie/loans/loan-calculator/

Sligo Credit union charge 7.75% on a car loan.

As an example, 10K over 5 years costs 46.77 per week.

That is a set of spark plugs and spanner each week.

You will also have paid 2,100 interest over the term.

Your original budget of 39 per week would get you 8,500 over 5 years.

You would need to get 10,000 over 6 years to come in at just over 40 per week.

I would suggest saving the loan amount for a while to see if it was a realistic option.

Thanks for the info. I suppose if you compared it to buying parts like that then no-one would go for a loan.

Takes me back to the day's when people used to rent TV sets and washing machines, when they had them over an amount of years we used to say you do realise that the amount you have paid for that TV in rent you could have bought it twice over

Andy From Sligo

so yesterday i asks my wife "hows the car going now" (its getting to be like a repetitive daily question) and she says "it started up on the button this morning even though it was -4c and it idles a lot more smoother and its driving much smoother since you changed the spark plugs" - great i thought, doesnt look like I have to change the coil pack or the leads (well actually on this car you cannot just change the spark leads as they are built in with the coil pack) ... but (there has to be a but) its making a terrible banging noise now on the passenger side when I go over the speed humps (we live near a school with speed humps/bumps in the road) sounds really terrible, like suspension or something.

And i'm like "What now, i only changed the spark plugs how on earth can that affect the suspension!" - so out I goes yesterday afternoon in the dark armed with torches in temperature of -2c (unfortunately no garage with our house, I wish we did have that luxury) thankfully not raining , jacking up the front of the car checking wheel bearings and tracking bushes by pulling on the wheels , no all fine there, just looking then under the car and notice a black bit of plastic (im presuming its a splash guard for the bottom of the engine to stop the water from splashing up to the bottom of the engine) and its flapping about like a bugger, anyway it was freezing and I didnt want to be out there for ages, so it either needed gluing back into place with superglue or drilled and screwed to keep it in place .... i took the easy way out and pulled the feckér right off altogether. hope it be alright when she goes through puddle now.

Anyway she drives car today and texts "all fine now, banging is not there now" - thank feck for that, all things were running through my mind like struts, joints and what have you because of age of the car .

dingding

Great to see your car is sorted.

Andy From Sligo

dingding wrote: »

Great to see your car is sorted.

thanks i'm glad too - it is a decent motor when its running ok, i have had (and heard of) worse secondhand motors out there ... if it keeps on trouble free for a while longer now it will be a Godsend .. cannot really afford to get in debt taking out another loan now, finances would be very tight