want a new car...need advice please!

missfloss

So, my car has just failed an MOT (It's a V reg Peugeot 106, looks are fine, will prob cost a few hundred to get throug MOT) so I think I'll use it part exchange on a new car (prob worth £600 without the jobs done, £1000 if I get them done).

I need advice on how to finance it though...I am going for new as I am sick and tired of forking out at garages when things go wrong, with a warranty on a new car I should be fine, shouldn't I?

I am not too fussed about what car, more bothered about what finance options and good recommedations I get from you guys!

I have looked at Citreon C1 and 2, Ford Focus, and a few others, I don't want to be paying much more than £100 a month, I can prob stretch to £1000 deposit plus my Peugot as a deposit.

All the different deals out there are a little confusing and I don't want to sign a contract that sends me up !!!! creek in a few years!

Any help, advice, links, ideas will be very welcome.

My partner is also thinking of doing something very similar to me, I wonder if as a 'dual' buy we could really get ourselves a killer deal? !

Hintza

Keep what you have until you know if you will have a job in the next year or so. This is not the time to be moving up from a banger to a new car if you need the finance.

mcjordi

get the jobs done
the 106 is a decent enough motor will last a while its french

dacouch

If your buying a new car on finance, the dealer will try and sell your GAP Insurance, their charge will be about 2 to 3 times the rate you can get it for by shopping around. In addition they will add it to the fianance so you will pay a lot of interest on top. So don't buy it from the dealer, have a shop around the internet and you will save a fortune

AdrianHi

If you job is secure (does anyone know)...
Don't buy new, buy nearly new or pre-registered where you will still have the balance of the 3 year warranty left or a Hyundai i10
http://www.hyundai.co.uk/newCars/i10/
with a 5 year warranty - again not brand new unless they will give you 15% off list price.
If a Hyundai isn't to taste get your self something Japanese (not Nissan that's now mostly Renault), a Skoda or a Kia for an easier life not visiting the garage for repairs so often (if at all).
You might just about do it inside £100 a month repayments.
Good advice about GAP insurance, make sure it's RTI - return to invoice, not a bad idea if you financing most of the value fo the car.

Any

I agree with the finance - I have tried to buy a car yesterday and the dealership offered me finance. It got really silly - he kept bringing me the same awfull deal back and forth (you know the game, they have to go and see the "boss") just stretched to different amount of months to make it look pleasing to the eye. the interest payable was still 1/3 of the value of the car!!!!!!! Over 3 yrs interest payable £2k, while at the bank you can get it for £900 over the same lenght of time..
Walked off saying that I will sort my own finance, which I did, but while doing that I also found exactly the very same car for £450 less + with 6mths road tax (another £60) and as I was very pleased with the garage, didn't bother to call them back and ordered the car from elsewhere...
It is nearly impossible to buy a car without finance! The bloke didn't want to let me leave for 25 mins, trying to tell I won't get finance from the bank (even though I said that our family is cash rich anyway he kept saying this is a bargain and I would be stupid not to take it - oh, by the way I am an accountant and told him that as well). It was really annoying.

AdrianHi

Any wrote: »

he kept saying this is a bargain

I'm sure it was a bargain.... for him :rotfl:

I was pleasantly surprise by a 2.2% flat rate offer from the dealer after I rebuffed their suggestion of finance when I last bought a car. It made sense to take it.

Any

AdrianHi wrote: »

I'm sure it was a bargain.... for him :rotfl:

I was pleasantly surprise by a 2.2% flat rate offer from the dealer after I rebuffed their suggestion of finance when I last bought a car. It made sense to take it.

Some are surely worth it, but you have to know what you are talking about to know when they are trying to make a killing.

I looked before I went for how much I can obtain the finance over the period of time and that is why I knew straight away that he is trying to ripp me off:rotfl:

By the way - would you buy the Hyundai I10? I don't like the look of it much..:eek: But I like the I20, though that is brand new only and a bit more expensive..

AdrianHi

Any wrote: »

By the way - would you buy the Hyundai I10? I don't like the look of it much..:eek: But I like the I20, though that is brand new only and a bit more expensive..

It's not the size and type of car I would normally buy or really like. If my financial circumstances and needs for a car were such that I had to drive something like this I think I would be looking for best value for money, a car I can get comfortable in and something with good resale prospects. I wouldn't worry about whether I liked it or not as I'm not going to like any car of this size. I can have a lot of respect for cars of this size though as admire anything "fit for purpose" from Fiat to Ferrari.