Car Finance - My mistake and way out.

somethingcorporate

meer53 wrote: »

Hmmm, a decent car ?

A decent car to me, is one that gets me from A to B as cheaply as possible. My car does 400 miles on a full tank of petrol (about £45) and costs £20 per year to tax. My fully comprehensive insurance is £295 a year. Might not be as fast as a bigger car but i can live with that.

Might not make my neighbours green with envy, but i love it

Unless you live up a mountain track, i can't see the point in 4 wheel drive vehicles.

Tell that to all the yummy mummies that drive darling Quentin to and from the private school at the end of our road! We live in a busy city with lots of narrow streets, few narrower than the one down to the school with cars parked down both sides - most residents lose a wing-mirror a year thanks to the Chelsea Tractors that these women could not possibly be seen without!

I actually have a feeling of pity for people that feel the need to waste so much money on such a symbol of "status". Still...I think it more of a tax on idiots than anything else.

meer53

somethingcorporate wrote: »

Tell that to all the yummy mummies that drive darling Quentin to and from the private school at the end of our road! We live in a busy city with lots of narrow streets, few narrower than the one down to the school with cars parked down both sides - most residents lose a wing-mirror a year thanks to the Chelsea Tractors that these women could not possibly be seen without!

I actually have a feeling of pity for people that feel the need to waste so much money on such a symbol of "status". Still...I think it more of a tax on idiots than anything else.

My daughter went to a village school just like that ! Aston Martins, Bentleys, RR's, it was silly. A lot of them lived within walking distance too. Zig Zag parking lines don't apply to them either you know, they have special dispensation from the Police because they're so well off

I smile to myself when i'm coming home from work and a "tractor" whizzes past me. The petrol they must use would keep me going for a couple of days.

happycamel_2

I run a BMW X5, it's based in the RR, only slightly smaller and it's fantastically versatile. I spent £7.5k on a 53 plate with 60k on the clock. It'll barely depreciate, although the fuel and tax isn't pretty but with two kids and a double buggy to cart around its well worth it.

If you want a big fancy car I'd recommend an older one with reasonable mileage that you can afford without taking a loan. Paying interest on a depreciating asset is madness.

ChopperST

^ I'm with the poster above ^

Like you I spent a long time researching a new car and we decided on an Audi Q5 over a Range Rover. One of the main reasons was reliability and customer service. Also the economy of the Q5 over the RR is amazing we have the 2.0TDI and get 40MPG on the motorway in cruise control.

If you are looking for a prestige marque why not look at switching to an Audi or a BMW with a few '000 on the clock and a good service history if you are after a 4x4.

I would agree with you that financing at £600p/m on a depreciating asset is not the best BUT it is your money that you work hard for and you can spend it on what you choose, if it makes you happy then carry on, if you can't sleep at night due to the cost then admit you were wrong and look at what you can do to change, no shame in that.

Certainly you are likely to get a better deal in the winter months for a car like that so I'd do something in January if you are going to swap.

GL.

pheonixrising21

meer53 wrote: »

Hmmm, a decent car ?

A decent car to me, is one that gets me from A to B as cheaply as possible. My car does 400 miles on a full tank of petrol (about £45) and costs £20 per year to tax. My fully comprehensive insurance is £295 a year. Might not be as fast as a bigger car but i can live with that.

Might not make my neighbours green with envy, but i love it

Unless you live up a mountain track, i can't see the point in 4 wheel drive vehicles.

May I ask what you drive? Its just that 400 miles on £45 seems a bit low (obviously higher than a 4x4). I get about 700-750 miles out of a tank (£70) and I know that there are even more efficient cars out there (I'm currently researching my next one).

Totally agree on the 4x4 thing though, no point in one unless you live up a hill somewhere and even then there cheaper (equally well specc'd)cars out there. If its space thats needed, then an MPV or large estate would be better. But, it is the OP's money, its not for us to judge what they spend it on if they can afford it. Its all down to personal preference and requirements with cars. Two people with the same budget may buy totally different cars.

OP, if you're looking for a 4x4 with high MPG and a bit of power, may I suggest a Peugeot 3008 diesel hybrid? Decent spec, 160bhp diesel engine + 40bhp electric motor, claimed fuel figures of over 70 mpg... might not have the badge, but will save £10k on the car and even more on fuel, tax and insurance

Mark_Spade

spent £7.5k on a 53 plate with 60k on the clock. It'll barely depreciate

Quite agree! I'll give you 3 grand for it....


Trust your feelings and get shot of the Range Rover - nothing says a$$hole like a 4x4 in this day and age!

ChopperST

Mark_Spade wrote: »

nothing says a$$hole like a 4x4 in this day and age!

What a totally pompous and judgemental statement!

Mark_Spade

What a totally pompous and judgemental statement!

pompous statement.... that's a 4x4!!

YOU be the judge! ;-)

:money:

_Andy_

Well Marty McFly lusted after a 4x4 in Back To The Future ("Woah..check out that 4x4! Some day Jennifer.."

Coveredinbees!!!!

But hot Jennifer got replaced by Ugly Jennifer, she wasn't impressed