Advice on buying car and financing it

Midmac

Hi there everyone :j

Im looking to replace my tatty M reg corsa with a newer car. Im currently fancying a peugeot 106 quiksilver, maybe a clio or something to that style( small, sport looking but reliable. Im looking for something no more than 6 years old and preferably less than 60,000 miles.

Im wanting to spend around the £2000 mark, is this a resonable budget for the cars i have in mind ? I could also trade in my corsa on top of that but dont think i would get a great deal for it ( Whatcar says £400 - £700)

Also would it be possible for me to get the money from a 0% APR for 12 months credit card and pay the card off monthly over the next year ? I have steady income and know i could pay it off but im 19 and have never used any form of credit before.

As much info as possible would be great as im absolutely clueless as to what to do.

Thanks
Midmac

highguyuk

Hello! :hello:

Firstly, I would say that 2k plus your part ex SHOULD get you what your after ... but it will be towards the top end of your budget and therefore you might not get something immaculate. You may need to spend some time looking around to make sure that your being a good car that will last.

For valuations, the best place to start is somewhere like AutoTrader. Search for the cars in your local area and see what you get for your money. As may have seen suggested on here many times, check out https://www.honestjohn.co.uk for advice as well.

In regards to the credit card, I'm not sure 'ere. At 19, would the banks be willing to give a 19 year old a 0% APR Credit Card? At 19 I was being refused for 15% APR credit cards and I had a regular good income for my age. Think that might be a lovely think to be able to do - but not sure it is going to happen ...

Midmac

Thanks for the detailed replys guys. And the lovely picture lol

I checked autotrader and it seems i can get close to what i want for my budget.

The thing is my current car will not last me till the time i can save that money up. So paying monthly is my only option as far as i can see Im guessing just after christmas time will be when i need to get it sorted.

I guess the 0% APR credit cards is unlikely so where do i go next? I wouldnt fancy getting credit from a garage as i have heard from many sources they are a rip-off.

Would my bank be the next place to ask?

Many thanks again.

-1-

Yes, definatley be careful if you go down the finance route.

Reg Vardy game me 0% finance, so i thought, but they had put in the contract it was 0% for 1 week then 26%.

Luckily i threatened them with legal action and it was all cleared within 2 weeks, but just be careful.

Read everything and then read it again.

pinkfluffybabe

Midmac wrote:

Hi there everyone :j

Im looking to replace my tatty M reg corsa with a newer car. Im currently fancying a peugeot 106 quiksilver, maybe a clio or something to that style( small, sport looking but reliable. Im looking for something no more than 6 years old and preferably less than 60,000 miles.

Im wanting to spend around the £2000 mark, is this a resonable budget for the cars i have in mind ? I could also trade in my corsa on top of that but dont think i would get a great deal for it ( Whatcar says £400 - £700)

Also would it be possible for me to get the money from a 0% APR for 12 months credit card and pay the card off monthly over the next year ? I have steady income and know i could pay it off but im 19 and have never used any form of credit before.

As much info as possible would be great as im absolutely clueless as to what to do.

Thanks
Midmac

To be honest, although the Clio is a pretty car, and nice to drive, it isn't great for reliability. I have had a lot of things go wrong with my 5 year old Clio and it hasn't been exactly cheap to fix. The parkers.co.uk discussion boards have a whole section dedicated to Clio problems, so that is a bit of a hint.

Dan29

Midmac wrote:

Im currently fancying a peugeot 106 quiksilver, maybe a clio or something to that style( small, sport looking but reliable. Im looking for something no more than 6 years old and preferably less than 60,000 miles.

If you want something reliable, don't buy a French car.

What's your concern with the mileage? Modern cars will generally do 120,000+ without problems.

aj3001

As above, Don't buy french unless you want to keep using the forth emergancy service every other day, go Jap, Toyota engines are known to be fine gone 250k miles (petrol engines!)

Midmac

Thanks for the link albertross

I have read reviews on the internet and peugoet seem to get very good reviews.

The reason i was put off a saxo was that it seems to have a reputation for being unreliable.

I still have a few months before i decide for sure what car to go for but i just wanted to get the finance side of it sorted in my head.