Need £11,000 loan for a car

ses6jwg

THRIFTY_GIRL wrote: »

Part of buying a sporty car is the namebadge.....and Skodia is probably not acceptable for most people no matter how good it is:rotfl::rotfl::rotfl:

The VRS models are great fun as nobody knows they are actually quick, I have the Fabia VRS.

Octavia VRS:

epsilondraconis

I prefer the tree.

Paulgonnabedebtfree

Mister_aaa wrote: »

Yep, bought a 2002 renault megane coupe new for 11500, its now worth 1500 quid.

Only finished the loan early because of my ppi reclaim.

Simple steps to buying a car

1) buy car
2) dig big hole
3) pour money into it
4) get annoyed

You might as well just get 10 grand and go to the top of a building and throw it off, but its your (well his) cash.

Indeed. Buying brand new means taking a big hit on depreciation.
Personally, I would consider buying brand new but that's only because I buy work vans and also use them for a bit of personal use (about 15% which the taxman DOES know about). The tax relief helps a lot and is greater in year 1 of a van purchase which does help a bit with the higher depreciation that occurs early on. Because off road time is non earning time, most of the costs have tax relief attached, and any interest can be offset against tax (subject to pro rata for personal use), splashing out on a new or nearly new van actually is cost effective IMO. I wouldn't do it with a car though unless I was VERY well off and such expenditure wasn't an issue.

Clive_Woody

ses6jwg wrote: »

The VRS models are great fun as nobody knows they are actually quick, I have the Fabia VRS.

Octavia VRS:

Skoda are seen as the budget brand of the VW family, but having driven many miles in both SEATs and Skodas, I would pick a Skoda over a SEAT every time.

Mister_aaa

Paulgonnabedebtfree wrote: »

Indeed. Buying brand new means taking a big hit on depreciation.
Personally, I would consider buying brand new but that's only because I buy work vans and also use them for a bit of personal use (about 15% which the taxman DOES know about). The tax relief helps a lot and is greater in year 1 of a van purchase which does help a bit with the higher depreciation that occurs early on. Because off road time is non earning time, most of the costs have tax relief attached, and any interest can be offset against tax (subject to pro rata for personal use), splashing out on a new or nearly new van actually is cost effective IMO. I wouldn't do it with a car though unless I was VERY well off and such expenditure wasn't an issue.

I agree, i would enjoy a new car, but i think nowadays it would be cheaper to buy a new ex-demo car, or a 6 month old car, just to avoid the staggering amounts of depreciation.

pendragon

I echo what another poster said earlier in the thread you need to clarify whether the garage are calculating on a flat rate or APR.

£10K over 54mths on an APR of 10.9% would calculate to about £233 a mth not £300. For those kind of figures you are talking more like an APR of 25%???

tobiascurious

great thread, 170 posts, 4500 views?!

nicnacnoo

tobiascurious wrote: »

great thread, 170 posts, 4500 views?!

:rotfl::rotfl:lol i know and the op hasnt wrote for pages and pages now ha ha

ILW

nicnacnoo wrote: »

:rotfl::rotfl:lol i know and the op hasnt wrote for pages and pages now ha ha

Sorry, what was the question?

nicnacnoo

ILW wrote: »

Sorry, what was the question?

just cos it seems the op is now not bothering with this thread anymore yet its still going on...lol, one of the funniest ones ive seen for a while :rotfl: