How likely is this?

gizmo111

iolanthe07 wrote: »

HSBC who have given her the loan at a very reasonable rate of 5.9 %.

That is a very good rate indeed. Just check that it is 5.9% APR and not 5.9% Flat Rate. Car loans are often quoted at Flat Rate interest, which you need to double (approx) to get the true APR.

Its not a car loan as such - but a person al loan def is 5.9%

pauletruth

the mum seems more keen on this car than the daughter. saving 2k plus for a next to new with a full or near full warranty. if your daughter does not realise that is economic sense you should.

gizmo111

pauletruth wrote: »

the mum seems more keen on this car than the daughter. saving 2k plus for a next to new with a full or near full warranty. if your daughter does not realise that is economic sense you should.

There is no £2k savings for a nearly new KA.
It's what she wants not me, KA would not be my choice of her car but it is hers and shes happy that she can have one.

As I said the original q has been answered not by the forum who are clearly car experts, but by HSBC who have lent the money.

[Deleted User]

Here's a relevant topic someone posted a few hours ago, this accurately demonstrates the problem buying a car on finance has: https://forums.moneysavingexpert.com/discussion/4571955

They would be even worse off if they had bought the car brand new.

gizmo111

citricsquid wrote: »

Here's a relevant topic someone posted a few hours ago, this accurately demonstrates the problem buying a car on finance has: https://forums.moneysavingexpert.com/discussion/4571955

They would be even worse off if they had bought the car brand new.

I dont see how that link is relevant to this thread or my original question - HP is not involved for my daughter - her car will be purchased - savings + bank loan + sale of car + overpayments.

[Deleted User]

gizmo111 wrote: »

I dont see how that link is relevant to this thread or my original question - HP is not involved for my daughter - her car will be purchased - savings + bank loan + sale of car + overpayments.

It's not relevant to your question but this thread had some discussion about car finance in general (I made a post about it on page 2) so I thought it would be interesting to include. Sorry for the time wasting, I forgot you might have notifications for replies to this thread

demontfort

I don't know you or your daugther and I know HSBC are lending her the money but she still sounds like a spolit brat and you sound like you really self indulge her when what she needs is a verbal clip round the ear. :rotfl::rotfl::rotfl::rotfl:

CKhalvashi

demontfort wrote: »

I don't know you or your daugther and I know HSBC are lending her the money but she still sounds like a spolit brat and you sound like you really self indulge her when what she needs is a verbal clip round the ear. :rotfl::rotfl::rotfl::rotfl:

I wouldn't go quite this far.

One car I can recommend (one of our staff has the highest mileage one in the UK) is a Dacia Sandero, starting at £6000ish

The car in question is the 1.2, and has 316000km on it now (about 190k miles), and hasn't caused her a problem yet, other than regular maintenance. This car is originally from Romania, so obviously LHD, but is the 2008 version, with the same engine/spec as the lower-end UK models.

They're a reasonably new model to the UK, but there are some decent discounts available on both new and ex-demo ones, as Renault are keen to push the brand as much as possible. They're a Renault Clio underneath.

I drove it down to Amsterdam twice last year, and for one of Europe's cheapest cars, I was very impressed with it (except the manual gearbox, but that's personal choice)

CK

Netwizard

kinh wrote: »

I think it's a bad idea splashing 9k on a car such as a KA, where it's value will plumet to 5 -6k like no tommorrow as soon as she takes ownership of it.

Certainly hope the newer ones are better than the old ones for rust! There are loads of KA's in our works car park, covered in rust! They are not old cars either

bouncydog1

demontfort wrote: »

I don't know you or your daugther and I know HSBC are lending her the money but she still sounds like a spolit brat and you sound like you really self indulge her when what she needs is a verbal clip round the ear. :rotfl::rotfl::rotfl::rotfl:

And I think your reply is ignorant and unnecessary! The girl could have just gone and got the car on finance, but at least has had the sense to discuss with her mum first of all. Not all 20 year olds would have done. The daughter is an adult entitled to spend her money as she wishes and if she can afford the car of her dreams the. Good luck to her!!!