Car Finace

Pew_Pew_Pew_Lasers!

Buy a W124 shape E-class with the 2 rear facing seats.

anewman

Pew_Pew_Pew_Lasers! wrote: »

Buy a W124 shape E-class with the 2 rear facing seats.

http://cgi.ebay.co.uk/1987-MERCEDES-300-TE-ESTATE-AUTO-W124-AIR-CON-LEATHER_W0QQitemZ130245832479QQcmdZViewItem?hash=item130245832479&_trkparms=39%3A1|66%3A4|65%3A1&_trksid=p3286.c0.m14.l1318

Very nice, but just imagine the cost of servicing, repairs (if needed) and not forgetting insurance :eek:.

AdrianHi

anewman wrote: »

http://cgi.ebay.co.uk/1987-MERCEDES-300-TE-ESTATE-AUTO-W124-AIR-CON-LEATHER_W0QQitemZ130245832479QQcmdZViewItem?hash=item130245832479&_trkparms=39%3A1|66%3A4|65%3A1&_trksid=p3286.c0.m14.l1318

Very nice, but just imagine the cost of servicing, repairs (if needed) and not forgetting insurance :eek:.

Irrelevant because depreciation is costing you nearly £0 per month, so even if those running costs are higher the all important long term average total monthly expense figure is low, much lower than a young Zafira or whatever. The fact you'll see more cash go out of the bank account in fuel does not matter, because the "hidden" cost of depreciation is nearly non-existent on a car like this.
The caveat is finding one that is reliable with no major work needed which is always the risk going this route.

I've done sums on cars like this before, 12,000 miles a year, using a budget of £500 a month you can have a 5 year old Mazda 6 2.0 petrol or a 9 year old BMW 528i provided you don't have a major failure like an engine or gearbox going pop.

albionrovers

What exactly is car finance?

It's just finance.

moncman

You could always buy a low technology diesel big estate of the Volvo 760 Merc big Peugeot type with the extra seats in the boot. MPVs are more popular so hold their value whereas these old buses can be picked up for hundreds. Added advantage is they will run happily on chip fat (not something you can do on a modern common rail diesel)

I know of a Citroen CX 7 seater which has done 200,000 and runs all day on veggie oil from Lidl. (47p a litre)

kaznelson

At all costs avoid Peugeot Finance, great car but horrendous Finance Dept & Customer Service.

They incapable of collecting Direct Debits on due dates or processing Debit Card payments.

Avoid at all costs!

hewhoisnotintheknow

moncman wrote: »

You could always buy a low technology diesel big estate of the Volvo 760 Merc big Peugeot type with the extra seats in the boot. MPVs are more popular so hold their value whereas these old buses can be picked up for hundreds. Added advantage is they will run happily on chip fat (not something you can do on a modern common rail diesel)

I know of a Citroen CX 7 seater which has done 200,000 and runs all day on veggie oil from Lidl. (47p a litre)

are you sure its 47p per litre?

if it is i will be buying some!

davetrousers

okiegirl wrote: »

which is mechanically sound but the body work is scratched loads

Get out there and give the car a good clean then use some T cut then give it a good polish, and see how it looks. Even if it doesn't look perfect it will look better, also it would be easier to sell (or trade in).

If the car is mechanically sound and you can only just afford finance (ie Pay more for a car as it is depreciating) then it is pretty much a no brainer, that in these times when we should be tightening our belts, you should not be splashing out.

pukkamum

I am looking at this thread with interest as we are considering getting a car on finance for the first time.
We can easily afford the payments as we have no other debts mortgage etc so i am asking if anyone can reccomend a trustworthy dealer in the northwest (near Bolton).
We are thinking of a ford focus or mondeo probably spending about £5grand.
Any advice (other than don't get finance lol)

davetrousers

pukkamum wrote: »

I am looking at this thread with interest as we are considering getting a car on finance for the first time.

There are usually cheaper ways to borrow money than Finance. Like anything shop around.

Ask "What is the total amount payable?"