Is getting a car on finance a good idea?
I'm looking into getting a 1.4 or 1.6 Ford Focus on finance but I'm wondering whether it's a good idea or not so. I reckon I could afford it but I'm just looking for
Do you have a good full time job? You have to have a credit rating? No one will sell a car to a kid who is a student.
I have had two cars on finance, with one of them I currently still have. Most people have said to me that it is a bad idea. But as long as you can afford it, go for it. I would do it again and again and again. No regrets here. Although I purposely got a car that was under a certain amount and a longer repayment term so that I could pay as little or as much as I would like. I always had the aim of paying off the car within 3 years but leaving a little amount behind so that you do not have to pay early exit fees.
It's a good idea if you don't have the cash to pay for it outright. What other alternative did you have in mind?
Of course, to finance with a loan, you need to be at least 18, have good credit, a good steady job, and no excessive debt.
Yes its a good idea
There are only two ways to buy a car. Pay cash for it or get a loan and finance it.
If you don't have the cash to pay off the car in full you have no other choice than to borrow the money.
But it takes a lot to qualify for a loan. You need a full time job earning more than minimum wage. You seed some credit history. You need a decent credit score. You need time on the job and time at the same address. You can't carry a lot of debt.
- Typical lib thinking? Ford had no idea when it happened, had no idea how she got there, no idea how she left, clueless who was there? And despite that every person she listed as a witness made a statement in a sense said Ford was wrong… The lib brain… Get even at Trump…> yep - Kavanaugh did it.
- Is getting a lot of miles on a car actually bad for the car if the car is well taken care of? Back story: I have been using my car to visit a guy who lives about an hour away from me, and my mother has said that I "don't need to be putting all those miles" on my car. It is a well-taken care of Ford mustang with about 125,000 miles on it, and I have not noticed any issues at all. Cars are meant to be driven, in my mind. Is putting mileage on a care actually a bad thing, or is mother probably pulling an overprotective mother of an adult child?
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- Is Ford Credit a bad company to finance with? I recently heard that Ford is an example of bad financing, I wonder how true that is. If there's anyone out there who knows for sure, please give me the answer.