Loans for a car - is there a better way?

daveboy

I currently drive a 1996 Corsa which has around 65k on the clock - about 23k from me since I got it in 2002.

I've already decided to run it right into the ground before I even consider looking at what my next move will be. I very much doubt that I will buy a new car because I see that as a gross waste of money.

Having managed to get myself into a better position with my borrowing, I've sworn to myself never to go near loans again. I've been there and experienced the times when I've been 'breaking even' with income and bills and never want to go back there.

If we had a decent public transport system I wouldn't bother with a car at all.

As far as I am aware Egg don't penalise, but from past experience they do tend to try and push the payment protection quite hard.

tattooed_lady

I have to agree with Daveboy, I drive a 1993 citroen AX and will do so until it doesn't run anymore. To be honest with you I wouldn't be able to replace it if it did conk out and I just don't see cars as that important, but everyone has their own opinion and to some people having a new (ish) car is very important.

tomstickland

I've got a 1990 H reg BMW E30 318is which I bought outright for £1200 and I love it. Rear wheel drive so very entertaining in the wet, old skool looks (proper car with boot sticking out the back), absolute joy to drive, very cheap to maintain and it does 28-32mpg regardless of how it's driven. That's my solution to cheap fun. Most new cars are exceptionally boring to my mind; too heavy, too soft, too quiet, full of unecessary tat etc.