How do I buy my new car??

frannyann

Hello guys,
What would be the way to buy my new car?? I currently drive an Audi A3 which is 8 years old, I love it but its only a two door and I am fed up of folding the dd in half to get her in the back! I bought it with a personal loan which I thought was over 4 years, but have noticed its actually 5 years at 15.9% :eek: I wasn't a member here when I bought it and now would never make the same mistake (made it far too obvious that I loved the car and would do anything to buy it! ) So I still have a year to go on that. Now Audi are selling an brand new A3 on finance of 5.5% over 3 years with final payment deal (bit like ford options). The repayment on this new 4 door car will be the same as my current payments, which I can afford.
So how do I work this? Do I get a small loan from my bank and pay off the personal loan, do I then use my car as deposit for new car (as it is 'well loved' I think it is just enough ) Or do I sell the car privately, pay off the personal loan and then have to get another loan for the deposit?? Or shall I just give up and saw the legs off my daughter

ArsenalFC

Why am I still up at this time? Cant sleep .

First of all, do you really want to buy a brand new car? probably. Considering the current climate, your job need to be quite secure in order to finance it.

Unless you are very well off then I wouldn't buy a brand new car as you will lose loads in depreciation for the privilege You should consider getting a 3 year old car, it's about half it's new price. The ford focus is not far off from the A3 in terms of quality but a lot cheaper, depending on what you want and need the car for, maybe even a fiesta size car will be suitable.

For me unless i'm very well off I will never buy a brand new car as it's not an important factor to have a new one. I would sell the A3 privately and buy a 4 door car privately also as I know this method would be best in term of money for me, but it's time consuming and can be a hassle this way. Or trade it in for a 3 year 4 door car of similar size. Unless you buy bmw, merc, lexus then toyota, ford, honda are hardly far off from the A3.

frannyann

Why were you up at that hour

Thanks for the advice, I would normally never consider buying new. However as I was looking at a 3 year old A3, I noticed that the new A3 is only 2K more than a three year old model as they hold their value very well and there are some good deals on now plus the finance deal means I would actually pay less each month for the new car :rolleyes: . I am in a very secure job and am not worried about repayments. I am sort of stuck on an A3 as I have had many cars over the years, and this is the only one that I have actually wanted to keep

naijapower

For me, i won't buy a brand new car due to depreciation and the current climate doesn't help.
If you have the time, consider selling your existing car privately. You wont get much if you part exchange. In this eay, you can hoepfully get more to settle existing finance and start a new deal you can afford.
I see your issue about 4 door etc with you child. Going thru similar problem. You cetainly can do with the convenience of a 4 door....and pls dont saw your daughther's leg...lol

albionrovers

Lease a new Audi A3 like I do.

£5400 over 2 years. Then after 2 years get another one. And another....

No MOTs. No tax renewal. Car always in warranty. Car always shiny.

beckyv

albionrovers wrote: »

Lease a new Audi A3 like I do.

£5400 over 2 years. Then after 2 years get another one. And another....

No MOTs. No tax renewal. Car always in warranty. Car always shiny.

Can i ask where you lease from please?

naijapower

albionrovers wrote: »

Lease a new Audi A3 like I do.

£5400 over 2 years. Then after 2 years get another one. And another....

No MOTs. No tax renewal. Car always in warranty. Car always shiny.

This works our at £225 pcm. Do you get any other free extras apart from tax and MOT. You have described car as new which means MOT not needed until year 3

Scuttsy

It may be easier to part exchange. The Current economic climate makes it a LOT harder to sell a car privately than when things are good. With dealers preperared to discount hard you will get a simpler deal by part exchanging. The 5.5% interest rate sounds suspiciously like a flat rate and should be negiotable. Try asking for a lower rate I would suggest circa 4%.

do bear in mind that if you put in a large deposit into one of these schemes you may get a nice low payment, but you will need to find another large deposit to go again in 3 years time as you will still owe money at the end of the agreement and will not have a car as a deposit.

Tread carefully.....

Lemonade_Pockets

Get a px price, haggle hard so its a price your happy with in worst case scenario. Use any equity you have to put down a deposit. If required put any extra on a 0% credit card. Then whilst your waiting for the new car to come advertise your audi see if you can get anymore money that way. If not you can still px and all will have lost is £40 to autotrader.

As scuttsy has pointed out, increasing your deposit will only serve to decrease your monthly payments. Check the interest rates, but on new pcp deals these are usually non negotiable and advertised as APR.

Its a buyers market atm so do a bit of research online see if u can find it cheaper do some print outs and use these to barter for a even better deal.

albionrovers

I lease from LingsCars. It's actually £208/month inc. VAT for SE model so even cheaper than I stated.
No MOTs as in car is brand new. So an MOT is never required whilst I run it.

Carmoney

Its not a tough job, I have also buyed second hand car many times, just u have to keep remember is get strictly check the car engine by your trusted one mechanic because many of them get Car Repainted and the car looks like new brand so keep in mind this and go for it

All The Best