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What do you think of this new car deal?
tomstickland
Posts: 19,538 Forumite
in Motoring
A friend has been offered a new Astra 1.4 16v sport hatch.
He's staff at a dealership, so he's had a load of offers stacked up.
Purchase price £10K (list is £17K)
£1K deposit
3 years of £190 per month (36 payments)
Annual interest around 5%.
So borrowing £9K.
Total paid over the 3 years is just under £7K.
Interest adds just over £1K.
End up owing £3K and car should be worth at least £5K.
I've had a quick look via google and the best new price I could find was £11K.
Resale values - 1 year old cars are selling for around £9K. After 3 years worth about £6K.
Seems like a good deal to me.
He's staff at a dealership, so he's had a load of offers stacked up.
Purchase price £10K (list is £17K)
£1K deposit
3 years of £190 per month (36 payments)
Annual interest around 5%.
So borrowing £9K.
Total paid over the 3 years is just under £7K.
Interest adds just over £1K.
End up owing £3K and car should be worth at least £5K.
I've had a quick look via google and the best new price I could find was £11K.
Resale values - 1 year old cars are selling for around £9K. After 3 years worth about £6K.
Seems like a good deal to me.
Happy chappy
0
Comments
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Seems like a very good deal.
These guys are offering it at a fair bit more -
http://www.new-car-discount.com/cardetail/45814/0 -
You lost me at "borrowing" money..... But then I never spend money I don't have
“I may not agree with you, but I will defend to the death your right to make an a** of yourself.”
<><><><><><><><><<><><><><><><><><><><><><> Don't forget to like and subscribe \/ \/ \/0 -
Been offered this very same deal at work...looks good, except it's a Vauxhall.tomstickland wrote: »A friend has been offered a new Astra 1.4 16v sport hatch.
He's staff at a dealership, so he's had a load of offers stacked up.
Purchase price £10K (list is £17K)
£1K deposit
3 years of £190 per month (36 payments)
Annual interest around 5%.
So borrowing £9K.
Total paid over the 3 years is just under £7K.
Interest adds just over £1K.
End up owing £3K and car should be worth at least £5K.
I've had a quick look via google and the best new price I could find was £11K.
Resale values - 1 year old cars are selling for around £9K. After 3 years worth about £6K.
Seems like a good deal to me.:A Luke 6:38 :AThe above post is either from personal experience or is my opinion based on the person God has made me and the way I understand things. Please don't be offended if that opinion differs from yours, but feel free to click the 'Thanks' button if it's at all helpful!0 -
Strider590 wrote: »You lost me at "borrowing" money..... But then I never spend money I don't have
It's an interesting point. I pay cash up front for cars.
However, the monthly figure looked decently low, the purchase price was close to the 1 year old resale prices, and we factored in MOT and maintenance costs.Happy chappy0
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