Buying a car - finance options?

Tommykelly

Wanting to buy my first car for around 8 months before university.

My plan is to get a car finance loan with (about 5% interest) and buy a car, then pay off monthly and pay of outstanding with sale of the car at the end of 8 months.

I earn about £800 a month and have about £200 outgoings (food et

Just really wanted to see opinions of doing this and if there were any other good options to buying a car other than saving up as this isn't really an option for me in the short amount of time I have left before university.

thanks

worried_jim

Just buy a banger for £500 with a years MOT and sell it for as near to £500 in 8 months time. Easy.

Lots of examples of how to here-

https://forums.moneysavingexpert.com/discussion/3803929

Prothet_of_Doom

The suggestion of buying a cheap car is correct and there's a few banger website's which would help you but I'd suggest that you need to price up insurance. I assume you are 18, so you'll be looking at £2K plus for a 1.0 Boxofsh!te.

Last night I was looking as a website called www.auto!!!!!.com which had a thread about a Daewoo Matiz which had cost the new owner £300. And on www.mx5nutz.com there was a bloke selling a 1.0 polo for £375 with 10 months mot.

Over at www.pistonheads.com there is a long running thread called bargain barges but usually it's big nasty fuel guzzlers for buttons.

Prothet_of_Doom

Prothet_of_Doom wrote: »

The suggestion of buying a cheap car is correct and there's a few banger website's which would help you but I'd suggest that you need to price up insurance. I assume you are 18, so you'll be looking at £2K plus for a 1.0 Boxofsh!te.

Last night I was looking as a website called www.auto!!!!!.com which had a thread about a Daewoo Matiz which had cost the new owner £300. And on www.mx5nutz.com there was a bloke selling a 1.0 polo for £375 with 10 months mot.

Over at www.pistonheads.com there is a long running thread called bargain barges but usually it's big nasty fuel guzzlers for buttons.

Where the !!!!! are you need to type etihs in reverse order. rightly MSE has a swear filter. :rotfl:

LandyAndy

Prothet_of_Doom wrote: »

The suggestion of buying a cheap car is correct and there's a few banger website's which would help you but I'd suggest that you need to price up insurance. I assume you are 18, so you'll be looking at £2K plus for a 1.0 Boxofsh!te.

.

Not necessarily. My 18 year old son's 06 reg Peugeot 307 1.6 petrol cost under £1k to insure

motorguy

worried_jim wrote: »

Just buy a banger for £500 with a years MOT and sell it for as near to £500 in 8 months time. Easy.

Lots of examples of how to here-

https://forums.moneysavingexpert.com/discussion/3803929

Have to agree.

O/P dont burden yourself with finance.

Prothet_of_Doom

LandyAndy wrote: »

Not necessarily. My 18 year old son's 06 reg Peugeot 307 1.6 petrol cost under £1k to insure

in his name ? That's good. very good.