Car Buying Cost Cutting System Article Discussion Area

tamste

Put a deposit down on a car and picking up next week.
Only problem is, with the postal strike I'm not sure the finances will be in place in time.

If I look at financing this (either dealer or a loan), what time period do I have to cancel the loan and repay with no penalty??

anewman

Buy second hand under £1k every time, no loans to worry about

goldspanners

tajgt wrote: »

I've just entered the arena to buy a new( or newish) car.

Been offered a what looks like a really good deal from two car supermarkets (Motorpoint and simple deal) on Renault Megane 1.6s BUT they are parallel imports.

Don't anticipate there would be any problems at all with the cars initially but does anyone have any experience of what happens when you come to sell one? Really worried that the scale of the saving to start with might come back and bite when it's time to sell on (which I don't expect would be for 3-4 years).

I know I wouldn't even think to ask if I was buying secondhand...............

Be grateful for any thoughts/experiences!

i know that renaults will always depreciate very quickly after 3 or 4 years.

smerch1468

Just wanted to share my experience of buying a new car. We where after a basic citroen c4 citroen cool model with air con. The price the dealer offered it was £11,300 and I new I could get it from a car broker for £10,200. When we went to the dealer we test drove a vtr+ which is very near the top of the range and he said that he had a pre reg which he was prepared to sell for £11,000. I found a new one on the internet for £11,500 and used this as the basis for our negotiations.

I offered £10,200 (my original budget) and he came down to £10,600. I told him I was a cash buyer and expected a bigger discount. After more hagling we settled at £10,350 which we where very happy at.

We have a gadget filled nearly new car for just over £10k. A similar ford focus would be at least £5k more, but frankly the c4 is in a different league for style and value.

The moral of the story is use the brokers prices as a benchmark, he knew given that we could get the car brand new for £11,500 that we wouldnt pay anywhere near £11k!

We collect next week!

LilMasterPiggy

I am a hard working Doctor earning £49'000 PA for working every hour under the Sun ...and the Moon. I am financially sound and think after all my toils I deserve a to buy a nice car. I have my heart set on one costing £30'000.

After investing heavily in property I own 3 properties and of total value £820'000 and owe £640'000. All the properties cover themselves.

I have £5000 in my bank account and owe nothing on any other cards, loans etc except for £15'000 on my student loan.

My bank (Natwest) have offered me the cash instantly over 7 years at 8.3% APR.

Surely I can get this cheaper- I constantly see the ads for 6.7% etc, but on calling find that they won't lend the total amount or want me to take a 'secured' loan.

Please please please can anyone help in finding a cheaper way to fund my dream?

itsy_lala84

A little while ago I found out that if you buy a car on HP then once you have paid 50% of the amount outstanding, you can hand the car back to the finance copmany without further penalty or any further payments.

This means that if you time it right, you can hand your car back half way through a financed period and let the finance company deal with the depreciation.

Admitedley, you may pay a slightly higer interest rate, but it is worth doing the maths.

Do you have any more information about this?? I will be half way through a 6 year HP deal in August. My car is already worth less than is left to pay on HP. Any idea where I stand. Needing to get rid of car ASAP!!!

Dotgirl

(I can not spell! please dont help me by cerecting me. If you cant read it i'm sorry)

PCP and what i know about it,

I got a car on pcp and it cut the cost of the mouthly payments. The way it works is you are "hireing" the car of the company you get the pcp from so you'll have to look after the car and have set miligege. I was Getting a new car so i thought this would be ok! because you are hireing the car theres a term of how long and at the end you can give the car back (to pcp comany)or pay what it would be to buy the car after what you've payed alrealy come of that pirce! ok soulds to good to be true well yes, If you hand the car back you have to be within the millege and have no foult with car and this is decided by the pcp comany! So you might have to pay the costs of them fixing the car !!!!! It's cheeper to fix it you self and ask the pcp comany what you will be charged for. where an tare is ok but Whats that? Ok buying the car at the End now it's a massive payment but they do take of what you've payed already but it's still will be a big payment. They will give you the End payment amout at the begining of the agriment.

Now you understand i hope! there is other things you should know most pcp comanys sell cars, "DONT get the pcp from the dealer !!!!!" go and haggle get the cheepist car price you can get THEN look for pcp comanys, you will get a better APR from looking on line. They will ask you if they can beet the price of the car well let them try...but if not tell them where you want to buy your car from and how much you want to get on a pcp ask about APR and the end payment. Oh they only like to deal with dealer or big car sellers, i dont thing they do privet sells. ok i did this At the 2 year piont i asked for a end payment price and it was louer than the car was werth, I got a discount for ending early. took car back to dealer and used the the car to get new car. Dealer pays of pcp and gives me left over money on to deposit to new and i get a new pcp with the same comany as before. Oh and when i was on the phone asking the pcp comany lost of stupied questions I learnt you can hand car back after you've payed over half of the payments. I ask the dealer how much it would cost me to out the car in tiptop con and is was only £80.

So i like pcp's there working for me but i did get 21% off the first car and i'm getting 25 % of the next one. So i cheeper new car to start with.


Ok how i got 21% and 25% lots of car dealers do a deal for peeps on low DLA (hubby). If you get the higher rate you can get a car on mobilaty, but if not you can get a discount!!!! on any lvl of DLA, You have to ask....the dealer wont ask you and wont offer it. the best fiat at 25% for all cars!! ford do and lots of others. we went with fiat 25% is soo good and i got it off the extars too.

Dotgirl

(I can not spell! please dont help me by cerecting me. If you cant read it i'm sorry)

PCP and what i know about it,

I got a car on pcp and it cut the cost of the mouthly payments. The way it works is you are "hireing" the car of the company you get the pcp from so you'll have to look after the car and have set miligege. I was Getting a new car so i thought this would be ok! because you are hireing the car theres a term of how long and at the end you can give the car back (to pcp comany)or pay what it would be to buy the car after what you've payed alrealy come of that pirce! ok soulds to good to be true well yes, If you hand the car back you have to be within the millege and have no foult with car and this is decided by the pcp comany! So you might have to pay the costs of them fixing the car !!!!! It's cheeper to fix it you self and ask the pcp comany what you will be charged for. where an tare is ok but Whats that? Ok buying the car at the End now it's a massive payment but they do take of what you've payed already but it's still will be a big payment. They will give you the End payment amout at the begining of the agriment.

Now you understand i hope! there is other things you should know most pcp comanys sell cars, "DONT get the pcp from the dealer !!!!!" go and haggle get the cheepist car price you can get THEN look for pcp comanys, you will get a better APR from looking on line. They will ask you if they can beet the price of the car well let them try...but if not tell them where you want to buy your car from and how much you want to get on a pcp ask about APR and the end payment. Oh they only like to deal with dealer or big car sellers, i dont thing they do privet sells. ok i did this At the 2 year piont i asked for a end payment price and it was louer than the car was werth, I got a discount for ending early. took car back to dealer and used the the car to get new car. Dealer pays of pcp and gives me left over money on to deposit to new and i get a new pcp with the same comany as before. Oh and when i was on the phone asking the pcp comany lost of stupied questions I learnt you can hand car back after you've payed over half of the payments. I ask the dealer how much it would cost me to out the car in tiptop con and is was only £80.

So i like pcp's there working for me but i did get 21% off the first car and i'm getting 25 % of the next one. So i cheeper new car to start with.


Ok how i got 21% and 25% lots of car dealers do a deal for peeps on low DLA (hubby). If you get the higher rate you can get a car on mobilaty, but if not you can get a discount!!!! on any lvl of DLA, You have to ask....the dealer wont ask you and wont offer it. the best fiat at 25% for all cars!! ford do and lots of others. we went with fiat 25% is soo good and i got it off the extars too.

Dotgirl

sry didnt mean to post 2 times arrr still getting used to this site.

argamemnon

Hello there, i hope that someone can help me, Basically:-

My financial situation has changed and i wont be able to continue paying for the car, I want to give the car back to the finance company (black horse finance) before i fall behind on any payments..

I have had the car and been paying the paymants for just over four years and have paid of more that half the value of the car.

Could i just give them a call and explain the situation and would they want any extra payments from me i.e. for costs etc..

Hope someone can help as i really don't know what i can do,

Many thanks in advance.....