Does this sound like a good deal?

Ultrasonic

Daniyella - I guess the advice you were after is how the finance deal you were offered compared with others. I hope the responses you are getting aren't annoying you, but this is MSE... I have one further thought with a money saving hat on, forgive me.

Daniyella wrote: »

We are looking to change our car (as its falling apart and costs a fortune to run) and we have been offered this deal...

What is this old car, and when you say it's 'falling apart', what is actually wrong with it? You say it 'costs a fortune to run' but if this is an important factor in wanting to replace it you ought to be comparing this to the HUGE cost of buying the Qashqai. Is there any chance that keeping your current car might actually be an option you'd be happy with, as I suspect it may well be the best bet financially?

Ultrasonic

Oh and totally disregard things like free RAC cover and £40 of fuel. They're worth peanuts when you're considering a £22k deal. (You can get comprehensive annual breakdown cover from £39 per year.)

The 2 year warranty is worth having though, and the MOTs could be if you'd be planning to take the car back to them anyway, but probably not otherwise.

DUTR

smashingyour... wrote: »

Not buying new then?;)

Heh heh , yes I am, I have resisted posting a pic, so here is a link that sometimes causes offence, so here is a link instead
Golf
that way those who don't mind looking can do, and those that do mind don't have to.

Daniyella

Ultrasonic wrote: »

Daniyella - I guess the advice you were after is how the finance deal you were offered compared with others. I hope the responses you are getting aren't annoying you, but this is MSE... I have one further thought with a money saving hat on, forgive me.



What is this old car, and when you say it's 'falling apart', what is actually wrong with it? You say it 'costs a fortune to run' but if this is an important factor in wanting to replace it you ought to be comparing this to the HUGE cost of buying the Qashqai. Is there any chance that keeping your current car might actually be an option you'd be happy with, as I suspect it may well be the best bet financially?

Yeah thats what i wanted to know how it was compared to other finance deals, we already pay £250 a month for it (just over 2 years left) so the monthly payment isn't a big deal, as we have both had big pay rises recently.

We are also saving for a mortgage so we'd rather get a reliable car and pay monthly for it, i have broken down a couple of times on the M4 in the early hours of the morning on my way home and its been into the garage a few times and they never manage to fix it so i need to get rid ive paid out over a thousand pounds in the past 6months too.

TradePro

Why is everyone talking about £22k+??

I think the OP confused us by mentioning £3700 p/x, if there is £1600 negative equity, that means they owe £5300 on the p/x, therefore nothing going in to the deal.

It's costing ~£18k to repay a £14,600 loan - I've heard worse.

Ultrasonic

Daniyella wrote: »

We are also saving for a mortgage so we'd rather get a reliable car and pay monthly for it,

Depending how soon you may be looking to buy a house, and at the risk of stating the obvious, bear in mind that any ongoing car finance will reduce the size of the mortgage that is available to you.

i have broken down a couple of times on the M4 in the early hours of the morning on my way home...

That doesn't sound good :-( I can see why you want shot of your current car.

I'm afraid I'm not really up with typical car finance deals and so can't comment on how competetive what you have been offered is. I've only ever bought (cheaper) cars for cash.

TradePro

Ultrasonic wrote: »

Depending how soon you may be looking to buy a house, and at the risk of stating the obvious, bear in mind that any ongoing car finance will reduce the size of the mortgage that is available to you.

Actually, this may not be true - car finance doesn't effect your 'credit line' in quite the same way as a personal loan.

Ultrasonic

TradePro wrote: »

Why is everyone talking about £22k+??

I think the OP confused us by mentioning £3700 p/x...

You're right - my fault for adding that part ex. amount on earlier I think .

bsms1147

TradePro wrote: »

Why is everyone talking about £22k+??

I think the OP confused us by mentioning £3700 p/x, if there is £1600 negative equity, that means they owe £5300 on the p/x, therefore nothing going in to the deal.

It's costing ~£18k to repay a £14,600 loan - I've heard worse.

~£18k plus a £3.5k car.

londonTiger

you can buy a tdi tourag/touran for very little money