Help buying a car

shoe_gal_84

Inactive wrote: »

I don't buy anything that I cannot afford to pay for outright, least of all cars.

Unfortunately, not all of us have that luxury.

Strider590

shoe_gal_84 wrote: »

Well thanks for your 'help' if that's what you want to call it.
But I'm not stupid, and getting in to more debt is not something I'm desperate to do, believe it or not!
However, my car is unreliable and beginning to become unsafe so I was simply looking into what options I have available to me. If taking out a small loan makes me feel safe and stops me putting myself at risk when driving, then as far as I'm concerned, that's what I will do.

Thanks hethmar for your comments.
Strider590, noted, but please take your opinions elsewhere.

How can your car be "unsafe"????

Who's been feeding you that twaddle?

An unsafe car should not be able to pass an MOT and it's takes more than 12 months for things to go THAT badly wrong.

A new car can be just as unreliable, just look around this forum to see that.

On the other hand if what your saying is you had something fixed and got told about a myriad of other faults that suddenly appeared, then the problem won't go away until you change who you trust with your car

The Peugeot 106 and the Citroen Saxo (the same car unneath), are fairly bombproof with the exception of the electric's (wiring, connector's and switches).

LandyAndy

I don't believe that buying a car on finance is automatically a foolish thing to do. What is foolish is to take out a long loan on a relatively old car. We see people on here who are having difficulties from taking out five year finance on a car that is already 4 or 5 years old and then finding it develops a very expensive fault while they still have a substantial amount owing on it. If you finance a car I would suggest that you do so on the basis that the car will be no more than 5 (possibly 6) years old by the time the finance is paid off.

dx052

Hey

I work in the motor industry and I have also had very bad debts problems in the past so I understand both sides. I also understand what its like to have a reliable car to get you around safely & without any drama. There is nothing wrong buying a car with a loan or whatever the deal is, you sound like a responsible person who has done some good groundwork so something like you suggested would be good. All cars depreciate but with something like a Ford or Kia is not the end of the world. Your everyday car is not an investment like gold so as long as you remember that you'll be okay.

Hope that helps

ps Three years is a good marker for the length of a loan. It goes pretty quickly so job done. Some of these cars now come with 5 year warranties.

MORPH3US

OP,

Just looked on the Kia website and the 0% finance doesn't seem to apply to the Picanto, only to the Soul, Venga and C'eed variations.

Also according to the website, all 0% finance offers require 50% deposit - I think this applies to most manufacturers 0% offers.

You may have spoken to a dealer and been offered the 0% on the Picanto with different terms so the above may not be relevent but just thought i'd point it out.

shoe_gal_84

The offer I was looking at was from a local garage. It was on a brand new 5 door Kia Picanto. £200 per month over 3 years with a £99 deposit and nothing left to pay at the end.
It also has a 7 year warranty so it seemed like quite a good deal on first looking at it.

LandyAndy

shoe_gal_84 wrote: »

The offer I was looking at was from a local garage. It was on a brand new 5 door Kia Picanto. £200 per month over 3 years with a £99 deposit and nothing left to pay at the end.
It also has a 7 year warranty so it seemed like quite a good deal on first looking at it.

A problem with these low deposit deals is that for at least the first half of the 3 years you are likely to owe more than the vehicle is worth. This is obviously a nuisance (at the very least) if you write it off and have to make up the insurance payout to the amount required to pay off the finance. Gap insurance will help here if you want it.

davidjwest

Just had a quick look on Autotrader - 1 year old Picantos for £4k or so and 2 year olds for around £3k or so.

Get a loan and let someone else pay for the bulk of the depreciation would be my advice, even if you're paying 10% or so in interest.

Inactive

shoe_gal_84 wrote: »

Unfortunately, not all of us have that luxury.

We all have that " luxury " when it comes down to buying cars ... can't afford it, don't buy it...simples.;)

MORPH3US

As davidjwest says... I would look at a two year old one if I were you.

Would probably only cost £100 or a bit more over three years.

Check to see if the warranties are transferable on them and if they are, you will be quids in.

EDIT

Just checked about the 7 year warranty:

1. What models does it apply to?
The Kia 7 year warranty applies to all new Kia vehicles registered from 1st January 2010.

6. Can I transfer the warranty to the next owner when I sell my car?
Yes - the Kia 7 year warranty is fully transferable to any subsequent owner of the vehicle while still valid.

Before 1st Jan 2010 it would have been 3 or 5 years warranty.