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Thread: $10,000 loan for an 18 year old??

  1. #55

    Join Date
    Mar 2008
    Location
    Waterloo, Merseyside, UK
    Posts
    2,557

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    i think a car like that sounds great but shes in alot of debt at that age hopefully she will be ok. at that age i was working and had been for a year and couldnt get a loan. i know diff in uk and aus but same thing.


  2. #56

    Join Date
    Jun 2007
    Location
    Western Australia
    Posts
    6,621

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    Jodi - Nah, never did go elsewhere for my phone. I wanted to keep my number that I've got now (and I'm on pre-paid wanting to swap to contract) and just get it on a plan and a new phone, but they're being impossible.

    Lulu - Is the BF helping put any money towards it? I know the frustation about not having the experience and/or education. After school, the only work I could get was checkout work.. Don't get me wrong, I actually liked it. But when places advertise that they're looking for someone, no experience necessary and then decided to hire someone with experience, how are those without supposed to get the experience? It's not like we can get them from a weetbix packet.
    I hope everything goes well

  3. #57

    Join Date
    Jan 2005
    Location
    Funky Town, Vic
    Posts
    7,082

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    Actually Liz, after 4 yrs of being together and their finances being pooled, the BF is getting a little tightassy!

    Im not sure whats going on but she doesnt like it at all. They are only 19 and 21 respectively, been living together since she was about 17 (), so I dunno what to say to her....

    She so flatly refused any help but was too silly to ask advice before she paid top dollar for this car. I always told her to come talk to me when she was ready to buy a car as I have heaps of friends in the industry and I could have found her something at half the price. No vehicle inspection, no nothing. At least another ADULT could have got her to bargain the price down since there was only a few weeks of rego left...*sigh*

  4. #58

    Join Date
    Jul 2006
    Location
    Brisbane
    Posts
    6,689

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    Lulu, it is ridiculous isn't it? But I guess we thought we knew it all at that age too. It must be so hard watching someone you care about make mistakes, but I guess the plus side is that hopefully it will be a great learning experience for her. I hope it all works out. Try not to worry too much, it could always be worse. Big hugs to you.

  5. #59

    Join Date
    Nov 2006
    Location
    Bendigo, Victoria, Australia
    Posts
    1,293

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    HI,

    Just cought up on how the process has gone. Sounds like this has been a bit of a learning experience for her.
    I am still appauld that the financier didn't insist on full comprehensive. Since my last post I have actually been working in delinquency and dealing with people who can no longer afford their loans. I was so shocked at the amount of people who go bankrupt.

    The biggest thing that I can share with you all is that one person I was dealing with was very lucky. They were unable to work any longer due to a serious cervical fracture during child birth, yet they had loan protection insurance. Almost the full loan ended up being paid out by the insurance. It would have been a huge blessing for them.

    I hope you sdd comes out the other side of the loan ok, hoepfully she can then apply what she has learnt to her future.

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