Astra v Focus.

AdrianHi

Lemonade_Pockets wrote: »

AidranHi

Ok sounds a little less scary with a back story. But you are still banking on that rate staying the same or low. Would you of been making the same analysis 6 months ago?

As said, always a risk which ever way you go. Earlier in the thread I also mentioned the dealer came up with a very low interest rate for me in 2005, if memeory serves it was 2.2% flat rate. At that time the mortgage rate was around 5.6% so I took the dealers loan. This is very unusual, normally the mortgage rate will be cheapest finance going. I would make an analysis on what ever methods of finance were open to me at the time, work out the total cost over what ever period and make a decision on that. If I were to plan on a 3 year loan now, I think I would do sums on the 1.59% I have now and sums on 5.59% taking the risk that the rate will not go above that inside 3 years. I think even at 5.59% it's still going to be the cheapest option. If I can afford 5.59% at my current level of income (which is 35% lower than 1 year ago due to ... well you know) then I think it's a safe decision.
I wouldn't rule out leasing. With hindsight, if I had leased in 2005 it would have been cheaper than buying even at 0% interest because I would have been protected from the crash in used car prices. But may be keeping the car longer will resolved that, who nows, always a risk, but I can afford to take it.

I think more people should be more open minded about how they are going to finance their cars but also understand the risks attached and whether they can afford to take those risks.

Lemonade_Pockets

AdrianHi wrote: »

I think more people should be more open minded about how they are going to finance their cars but also understand the risks attached and whether they can afford to take those risks.

:beer:..............

Inactive

AdrianHi wrote: »

I think more people should be more open minded about how they are going to finance their cars but also understand the risks attached and whether they can afford to take those risks.

Agreed.


Most sensible advice so far.;)

cyclonebri1

My view is do not have anymore pennies invested in a motor than you can afford to lose, sorry shouldn't use the investment word.

It's the most at risk bit of collateral we all possess, and as such it should be the last thing anyone stetches their finances on.

Lemonade_Pockets

^^^^^
I would say that award goes to my girlfriend!

cyclonebri1

Lemonade_Pockets wrote: »

^^^^^
I would say that award goes to my girlfriend!

:rotfl: ex girlfriend when she reads that:rotfl: :T

tbrown10

Inactive wrote: »

Remember that both Ford and GM are close to being bankrupt, if they go under that will play havoc with used prices.

Ford is having problems the same as every other car maker but they are not on the verge of bankruptcy. Ford have not taken any money from the US government and are fully financed for the foreseeable future.

PS. go for the Focus, it's a great car.

Inactive

tbrown10 wrote: »

Ford is having problems the same as every other car maker but they are not on the verge of bankruptcy.

That would depend on who you believe.

They were losing money as far back as 2006, they cannot go on forever losing billions of $.


http://www.moneymorning.com/2009/01/29/ford-earnings/

Lemonade_Pockets

tbrown10 wrote: »

Ford is having problems the same as every other car maker but they are not on the verge of bankruptcy. Ford have not taken any money from the US government and are fully financed for the foreseeable future.

PS. go for the Focus, it's a great car.

As long as you think foreseeable future means another 1/4!

But yes go for the Focus.

cyclonebri1

Thread back on track and another Focus vote:rotfl: :rotfl: :rotfl:


But in an either or situ, there is usually only one winner.

Accept or cast a bigger net