Unsecured car credit with CCJ and a large deposit

KingElvis

It's all pretty academic anyway, your age combined with that hideous CCJ would make this an impossible task.

Have you thought about leasing?

Daniluvsuall

somethingcorporate wrote: »

I think perhaps you are on the wrong forum for advice about splashing an obscene amount of money on something that is going to be worth less than a third of what it will cost you over a few years.

Perhaps you should try pistonheads? You seem to be quite mature given the quality of your forum posts but I cannot help this sneaking suspicion financially you are still naive and tying yourself in to such figures on finance with the economy the way it is could be an error you will have to live with for many, many years to come.

I implore you to look at the debt-free wannabe forums first. You've got a decent income for someone your age, you should save hard and make the most of those savings rather than using it to leverage on a depreciating asset.

Good luck though!

You are quite right, My money sense isn't the best and I freely admit that but I can commit to something like that if given the chance.

I mean, If this is really what I want in 4-5 years time I'd have a hefty amount of savings and would have had 4-5 years to think about it as well so my mind could well change and or a very nice second hand one could appear before then.

My savings work hard as they are mainly in an ISA but if I'm saving for a few years time I may tie them up into a few long-term bonds.

Daniluvsuall

KingElvis wrote: »

It's all pretty academic anyway, your age combined with that hideous CCJ would make this an impossible task.

Have you thought about leasing?

Yes, But It makes me sick thinking I'm puting a deposit down on something that I'd never own..

Maybe I'm being silly and overlooking what appears to be an obvious avenue I haven't researched.

Can you lease from the dealer or is this generally done through a third party? am I essentially taking on the whole car's value in debt then or just agreeing to borrow a car for a few years fixed fee's if that makes sense?

KingElvis

I work near the Merc dealers here in Leeds and they are fabulous looking cars....most of the deals they have on in the windows and plastered on the cars are for "Business Users Only" The new new style lights on the E Class are stunning.

I'm sure people do lease these beasts though.

Daniluvsuall

KingElvis wrote: »

I work near the Merc dealers here in Leeds and they are fabulous looking cars....most of the deals they have on in the windows and plastered on the cars are for "Business Users Only" The new new style lights on the E Class are stunning.

I'm sure people do lease these beasts though.

And you understand, It's beautiful isn't it? it actually looks like Mercedes have stepped up there game with the new E-Class it's such a stunningly beautiful car, Although.. they have obviously missed one headlamp washer on the front it ruins the symmetry!!

KingElvis

Daniluvsuall wrote: »

And you understand, It's beautiful isn't it? it actually looks like Mercedes have stepped up there game with the new E-Class it's such a stunningly beautiful car, Although.. they have obviously missed one headlamp washer on the front it ruins the symmetry!!

I must admit, if I had 40k to blow on a car, it would be top of the list though I like the C220 with the little right angled LED fogs too.

The new E class has so much detail it's amazing, the lights, the bottom valance, the chrome pods for the fogs, the mirrors......Yes I like them LOL

heathcote123

Daniluvsuall wrote: »

Ahh.. I'm nothing if not thorough.

The old Merc is.. well.. ugly, Plus the new E-Class cabrio has that nice 7 speed Steptronic auto (not quite a manual which is what I'd prefer but it's just as good.. probably double clutch too.)

The Beemer is beautiful if not under powered, My last idea was to get a 330cd but it's only 206BHP I believe where as the Audi I'm looking at the A4 3.0TDi Cabriolet is 236 (Although most of them have a horrendous auto gear box.. GRRR!!)

Ideally, I'd like a descent size oil burner in a 307 or 308 CC - It's not about the badge but it would appear if I want something that's got some guts and has 4 seats and a folding roof I have to go down the German route (The French just don't get it do they?)

The Saab is lovely and essentially a Vauxhall Vectra underneath with that bulletproof Fiat Diesel under the bonnet but once again.. It's not powerful enough at only 150bhp.

See my reasoning?

I drive a 260bhp car myself, so I completely see where you are coming from. However, I'm rapidly approaching 40, so my insurance is 500 a year fully comp, have you had a few quotes to see how much it would cost you?

Daniluvsuall

heathcote123 wrote: »

I drive a 260bhp car myself, so I completely see where you are coming from. However, I'm rapidly approaching 40, so my insurance is 500 a year fully comp, have you had a few quotes to see how much it would cost you?

Around £1500 a year which is what I expected.. the things we do for a nice car eh?

It'd be the same if not more on a Beemer or a Porsche.. it's somewhat low because of the type of car and my age - Not a car you'd associate with my age

opaque

If you save the money you'd spend on the car and running it you'll be in a much better position for a mortgage later on!
MUCH better use of your money really

ceegee

Daniluvsuall1 wrote: »

Except for a 106 I had once.. Hated it.. Was far too common car.

I've got a 106. It's 13 years old and it gets me from A to B.

Getting me from A to B is all I want from a car. My daughters (aged 23 and 19) don't understand this concept.