Does this sound like a good deal?

TradePro

londonTiger wrote: »

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

There's a very good reason for this...

TradePro

bsms1147 wrote: »

~£18k plus a £3.5k car.

The '£3.5k car' has over £5k of outstanding finance, therefore in p/x it's worth MINUS £1600.

With me now?

closed

£18000 pays for a lot of repairs, and would buy several newer or more reliable cars. Real mpg never matches official figures.

It's a financial burden that makes a house purchase and running one more difficult, and more than doubles your debts.

Ultrasonic

TradePro wrote: »

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

If it makes a difference I was more thinking in terms of the £300 a month going to pay for the car affecting borrowing potential, rather than the amount of outstanding credit. Surely this will be factored into affordability calculations?

Daniyella

We are aware of the impact that extra borrowing could have on our ability to borrow for our mortgage which is why my mother in law is having the finance in her name so it wont be affected,

I did wonder where the £22k had come from but went along with it as it as i thought they would know what they were on about, it is only £18k.

I dont want to keep the GV simple as, i have lost all respect for it and want a change. All i want to know is the amount of interest on the deal normal, high etc?

Daniyella

bsms1147 wrote: »

~£18k plus a £3.5k car.

The car has negative equity in it hence the car being £13k plus £1600 which is being added on to the deal = £14600, could really do with getting rid of that £1600 really so its not included.

Ultrasonic

Daniyella wrote: »

All i want to know is the amount of interest on the deal normal, high etc?

Somebody would have probably said by now if 4% was high. However, for anyone to really comment meaningfully on the deal they would need the full picture. Specifically, exactly what vehicle are you trading in and what condition is it in? There is no point 4% being a great interest rate if the valuation on your vehicle is lower than it should be...

fivetide

If you don't really need the 4x4 action, you can have the same in engine in the Note which will be cheaper and probably better on fuel as a result of the lower weight.

Also easy to get in and out of.

Just a thought unless you really want a 4x4 styled car especially as that's what you already have.

neilmcl

bsms1147 wrote: »

~£18k plus a £3.5k car.

You can get a brand new one for £18K - see drivethedeal.com.

Netwizard

Daniyella wrote: »

My financial priorities are cheap running costs from day to day, my partner is paying for the car and we can comfortably afford £300 but its me that will be putting fuel into it and i do 100miles a day 3 days a week to work, so i want something economic and the Qashqai does 55mpg my trade in was a 2007 Grand Vitara which struggled to do 30mpg, my insurance on the new one will be £19 per month before this it was £34 so i tidy saving there too not to mention road tax is half the price of the GV at £120 a year rather than £260 odd!

I never understand this. People being blinded by mpg and tax numbers. You have convinced yourself you will be saving money but really your not are you, when your financed up to the hilt on a second hand car.

Its false economy in the extreme.