14-11-2014, 11:01 AM
(12-11-2014, 08:09 AM)Matt-Rallye Wrote: My reasoning for this is that i have never borrowed money in my life which although morally correct, doesnt stand me in a good credit rating for in a few years when i want to buy a house and obtain a mortgage.
Don't worry about it.
I got my mortgage 5 years ago this month.
Having literally never had a loan.
Always paid off credit cards on time, had a mobile phone since forever.
Lack of other loans was not a problem. 25% deposit.
On topic:
I'm also firmly in the new cars are a waste of money camp.
Even just let 12 months go by and you'd save massively in depreciation.
£22K for a new car. Go look at the amount of car 50% of that will get you and get a warranty deal if worried.
Buying a car for sub 500quid and keeping it going for pennies is a big two fingers to the sheeple that think "aw, can't afford a new car" and pay halfords to change a lightbulb.
Have also been in the "save up to buy it" not the "must have now" camp.
Consequently you have a nice level of monthly savings, so when you see a bargain you can go buy it. Not worry about how to finance it and miss out.
I'd agree with the buy a house point too. I played the waiting game for the bubble to burst, it didn't the govt propped everyone up and shmucks like I who had saved hard got the big shaft when the prices didn't drop.
It's rinse and repeat time right now.