Paying for a car

thescouselander

cyclonebri1 wrote: »

Wrap it up which ever way you want, if you go into a showroom waving say £13k, whether it be cash or credit, by the time you get it home you will have about £10K. Now I do find that funny. You can't take it back like a TV to argos;)

Maybe the difference is that much with a brand new one (not that you get much for 13K) but the OP was not talking about that - they were talking about a car that was "new to them". I do agree with what you say about getting car thats a year old though - thats what I intend to do myself.

But, why have you got such a bad view of credit anyway? If someone can keep up with the repayments and they have a plan of what to do if their situation changes then what is the problem?

I have had finance on cars for 10 years and not once had any problems at all.

cyclonebri1

thescouselander wrote: »

Maybe the difference is that much with a brand new one (not that you get much for 13K) but the OP was not talking about that - they were talking about a car that was "new to them". I do agree with what you say about getting car thats a year old though - thats what I intend to do myself.

But, why have you got such a bad view of credit anyway? If someone can keep up with the repayments and they have a plan of what to do if their situation changes then what is the problem?

I have had finance on cars for 10 years and not once had any problems at all.

I haven't got such a bad view of credit as such, but have never borrowed for anything for the 1st 30 years of my life, my one and only mortgage was for £9k and that was at 32 I think. Taken over 20 years and paid over much less. 13.5% when we started but about £40 per month at the end. (And the doo dar thingy paid out), sorry brain dead at present).

I have no issue with you whatsover, but the truth is if you can finance yourself, you will be quids in.

This usually comes later in life if you stick to sensible financing, and is the reason today I have so many more choices than I would have had if I had given the finance company all my money?????????????????

thescouselander

cyclonebri1 wrote: »

I haven't got such a bad view of credit as such, but have never borrowed for anything for the 1st 30 years of my life, my one and only mortgage was for £9k and that was at 32 I think. Taken over 20 years and paid over much less. 13.5% when we started but about £40 per month at the end. (And the doo dar thingy paid out), sorry brain dead at present).

I have no issue with you whatsover, but the truth is if you can finance yourself, you will be quids in.

This usually comes later in life if you stick to sensible financing, and is the reason today I have so many more choices than I would have had if I had given the finance company all my money?????????????????

Ah, I think I see now - clearly you have been very lucky to be able to pay down your mortgage so quickly which has left you with enough to avoid credit.

Unfortunately for the 20 - 30 somethings these days things are a lot different with student debt and rip-off house prices etc. For most people credit is necessary even if you earn good money.

flyingscotno1

cyclonebri1 wrote: »

For me the best option is to buy a medium mileage, 15 to 20k miles, @ about a year old. Still 2 years waranty to go in most cases and a considerable saving on new. But then again I'm not in contest with the neighbours.

All of us on here can spend as much or as little as we like on a car, but in money saving terms buying new is not the best route.

That is exactly what I did, I bought a car £10K, 6K miles 1 year old and down from over 16K new but I still got finance!

cyclonebri1

flyingscotno1 wrote: »

That is exactly what I did, I bought a car £10K, 6K miles 1 year old and down from over 16K new but I still got finance!

:T:T:TThen you did well,






















But could have done better,























;);)

GAILEY

I've just bought a new car .and have financed by cashing in underperforming savings accounts...because it was quite a lot of money and I didn't want to cash the isa's and couldn't cash a fixed term bond, I applied for a tesco credit card - which allows 0% on purchases for the first 12 months and have confirmed that I can pay the balance (just under 5K) with that. The plan is that I wait until the fixed bond matures in April than pay off the balance on the credit card then.
As far as I understand it, there would be no problem with paying with more than one card either - and there are a few that are doing 0% on purchases.
I understand from the brokers I used that there is no "handling fee" for the cc payment.
You could possibly do this??

cyclonebri1

thescouselander wrote: »

Ah, I think I see now - clearly you have been very lucky to be able to pay down your mortgage so quickly which has left you with enough to avoid credit.

Unfortunately for the 20 - 30 somethings these days things are a lot different with student debt and rip-off house prices etc. For most people credit is necessary even if you earn good money.

Yes mate I have been lucky, I was in the last generation of peeps for whom the the endowment mortgage, (which was the term I could not recall), paid off.

I feel for the present generation, not totally as they have much higher expectations than we folks of the hippy era,

But my values go back farther, my dad was a miner, I don't know if that matters but he instilled in me the overpowering belief that you should pay for what you wanted not borrow for it.

It has stood me well, not a suitable life plan for all, but needs serious consideration. Take care:money: