want to buy a newish car

rus4u

Apples2 wrote: »

Ignoring barking Brenda above, let's start at the beginning rus4u,

Just a few questions rus, without knowing anything at all about you, how do you think anyone could answer your question?

Do you have a job?
yes
How long have you had this job?
last job? for 6-7 month, the job before that for 4 years(didn't work for 2 weeks between these jobs), the job before that for 3 years
Do you get paid for doing this job?
yes, working for a private college
How much do you get paid for doing this job?
16k
Do you have any debts?
no
Have you registered to vote?
yes
Do you have any credit cards?
3
What are the limits on your credit cards?
2k
Have you ever been late making any payments?
no, never
Have you missed any payments?
no, never
Do you have any defaults?
no
Do you have any CCJ's against you?
no

rus4u

Zopa seems to have good deals

but let me to add something to my Topic:

where do I get a service when you buy a car, pay a bit extra and get your car looking after, like when it breaks they fix it or something and also will exchange your car for another one after 1 year or so

any deals like that anywhere?

pheonixrising21

Vikipollard wrote: »

You dont *need* to spend £3000 on a car! That's a want, not a need.

Quite right, it's a want, not a need... just like the broadband connectionand computer you are using to post here. And the £500 car you are thinking ofbuying despite actually stating you don't need it. And any drink you buy whichisn't tap water. And satellite TV/cable (and your TV and TV licence come tothink of it), your games consoles/tablets, your mobile phone, your landline,your microwave, any meal out, cinema trips, holidays, any level of carinsurance above the legal requirement (if you need a car that is), any pets,DVD player (and DVDs), CDs, MP3's, any food which isn't the most basic, gymmembership, any spending on a hobby, etc, etc, etc

I do agree, however, with your suggestion of saving for a few months to makesure the payments would be affordable.

OP, what sort of car are you looking for? I ask, because for the monthlypayments you suggest you are comfortable with you can get brand new cars on PCPschemes. You could get something like a Ford Ka, Citroen C1, Toyota Aygo, Peugeot107, Renault Twingo, Hyundai i10, Kia Picanto, SEAT Mii, Skoda Citigo, VW Up,etc for somewhere in the region of £130-£160 per month with a small deposit(I've seen C1's advertised at £99 per month with around £1200-1500 deposit). Toyota also offer 0% APRon some models, but I am not sure if that includes Aygo (certainly some Yarismodels are).

I have no issue advocating motor finance, despite the consensus on this"Loans" board that cash is king and I will almost certainly get shotdown for doing so.

Personally, I prefer a car with manufacturer's warranty on it. This isbecause over the last 8 years or so, I have had repairs done under warrantywhich would have cost me around £6k had I not had the warranty. The only way toget a car with warranty was to purchase on finance. Those repairs which Ididn't have to pay for would have cost me over £60 per month on average over aperiod of 8 years. My current finance costs me £34 in interest per month.

As a further bonus, the cars I bought on finance are much more economical thananything I could have bought for cash at the time, not to mention better todrive, look better and are safer (I don’t know about you but I would muchrather be involved in a crash in a 2 yr old Renault Megane than a 10 yr old one…).

Bigger discounts are often available on new cars for purchasing on financerather than cash, and because motor finance is secured on the car, rates areoften lower than personal loans. Also, modern cars come with lengthywarranties. Kia is 7 years, Hyundai and Toyotaare 5 years, Renault is 4 years. Vauxhall is lifetime/100,000 miles.

OP, if you do go down the route of finance, make sure you also save somemoney as well, so that when you come to trade in next time you have a biggerdeposit. Eventually, you will get to a situation where you can buy for cash.

iolanthe07

Vauxhall is lifetime/100,000 miles.

Be careful of this one, though. Unlike Hyundai/Kia etc., the warranty does not apply to subsequent owners.

McClane54

try your local credit union!

DCFC79

McClane54 wrote: »

try your local credit union!

Dont you need to have saved with them for a number of months to use them.

OneLife_OneShot

DCFC79 wrote: »

Dont you need to have saved with them for a number of months to use them.

Most are 12-13 weeks yes. The one I am looking at joining is anyway.

SingleSue

Vikipollard wrote: »

Or, you could try a different tack. I admit, I have yet to do this, but am considering it.

We have one 5-year old car and DH now works 25 miles away, so needs it. I work 3 miles from home and am currently walking, which is fine but not so much fun if it's peeing it down. Plays havoc with the hair. We are considering the (cash) purchase of a £500 old run about which we would expect to replace before the following MOT is due. Don't think I've seen any loans that you only pay £500/year back of late. Admittedly, this would not be used constantly or for distance driving, but factoring in paying tax/insurance/fuel, we'd still be far better off changing the car every year ~ especially if we get scrap value for the old one (my son's 1998 Punto still got him £140). Importantly though, we'd be saving the money for the replacement through the year.

Just a thought, and as I said, I haven't tried this in practice so it's only an idea right now.

I bought my car for £461 nearly 6 years ago, it is used every day, normal and distance journeys and I have done 40k miles in it....so sometimes you can get away with it not just for one year but for several.

The old girl is nearing the end of her life now (she is 19 years old) however but she has been good to me, very low repair costs and so very reliable, I will be sad to see her go.

pheonixrising21

iolanthe07 wrote: »

Vauxhall is lifetime/100,000 miles.

Be careful of this one, though. Unlike Hyundai/Kia etc., the warranty does not apply to subsequent owners.

Yes, thats true, good point! I think it reverts to three years for subsequent owners i.e. sell it after 2 years, the new owner gets one year warranty left. Sell it after 4 years, the new owner gets no warranty.

I think this will also include pre-registered cars, so if you get a pre-reg one you will only get three years warranty not lifetime/100k miles.

Obviously, the up side is that if you do low mileage (<10k per year), the warranty will last 10+ years!

poppasmurf_bewdley

tonycottee wrote: »

A quick quote from Zopa tells me that they will lend at 6.4 APR. Tesco will do it at 5.2%
How is that extortionate?

Both those rates are good IF you can get them.

But that's a big 'if'.