Best way to buy a car if aged 19

allyb15

My daughter is 19, in part-time education and part-time employment but can prove earnings of £450 per month. Any advice on the best way to pursue a loan/credit card/finance to buy a car for a maximum of £4k would be greatly appreciated. Obviously I'm looking for the best deal around and have looked through the threads but can't find anything relating to someone her age.

Thanks in advance!

Ally

DCFC79

Work and save up, no need to spend 4k on first car, plenty of cars around that can be bought for less that are still safe and trustworthy regarding not breaking down.

mambo69

Need to add on insurance as well don't forget

Tixy

With earnings of just £450 a month she is not going to be able to afford to service a loan and the running costs of a car with insurance, fuel, servicing, mot, tax etc. And won't be able to convince a lender that she could.

Saving up is really the only sensible option in her circumstances. But as said above she doesn't need to save £4k, she should be able to get a decent first car for £1k or less which should last her until she is earning more.

F1F93

DCFC79 wrote: »

Work and save up, no need to spend 4k on first car, plenty of cars around that can be bought for less that are still safe and trustworthy regarding not breaking down.

Agreed. My Fiancees first car cost £3000, (mine cost £5000 and I only got that as it was heavily subsidised by bank of mum and dad!) and its been fine.

She could easily get a nice car for around a grand, only problem is it might not be
"cool".

DCFC79

F1F93 wrote: »

Agreed. My Fiancees first car cost £3000, (mine cost £5000 and I only got that as it was heavily subsidised by bank of mum and dad!) and its been fine.

She could easily get a nice car for around a grand, only problem is it might not be
"cool".

Corsa was the first car I could think of and theres 10 not far from me, 7 withgin price range of 1k - 2k and 3 under 1k.

F1F93

DCFC79 wrote: »

Corsa was the first car I could think of and theres 10 not far from me, 7 withgin price range of 1k - 2k and 3 under 1k.

Extend that list to Clios, Fiestas, etc and there will be a lot more as well.

DCFC79

F1F93 wrote: »

Extend that list to Clios, Fiestas, etc and there will be a lot more as well.

Will be cars cheaper for insurance than corsas, clios but cant think what they are but I see what you mean.

Caz3121

it is likely half her wages will go on insurance alone unless she has the savings to pay that up front

CKhalvashi

Tixy wrote: »

With earnings of just £450 a month she is not going to be able to afford to service a loan and the running costs of a car with insurance, fuel, servicing, mot, tax etc. And won't be able to convince a lender that she could.

Saving up is really the only sensible option in her circumstances. But as said above she doesn't need to save £4k, she should be able to get a decent first car for £1k or less which should last her until she is earning more.

As such, I've been able to get a 2003 Ford Ka with all the leathers etc for £500 for a first timer today, with 9 months MoT.

Speak to the local breakers is the advice I can give, as this is where the above has come from. It's worth about £1000 on the open market.

CK

F1F93

DCFC79 wrote: »

Will be cars cheaper for insurance than corsas, clios but cant think what they are but I see what you mean.

Oh yes, definitely. These are typical "boy racer" cars, so insurance will be sky high. My fiancee got a Honda Jazz, which is about as "old person-ish" as you can get. Never seen anyone else below the age of 60 driving one! :rotfl:
But hey, the insurance is cheap, and its a really good car! Admittedly my OH and I are older than OP (we're both early 20s) but this advice is still valid. My first car was a focus aged 19... big mistake!

Also, since insurers can't discriminate based on gender anymore, they have started discriminating based on gender stereotypes. So girly cars are cheaper than boy racer cars - peugeot 206, mini etc will be cheaper than clios, corsas etc.




Anyway, to actually answer OPs question, dealers will charge a fee for CCs (around 3%), so theyre out, although they should allow you to make a £100 deposit on CC for the protection. If you could get a money transfer card, then possibly, but these are rare.
Loans or finance are your best bet. Finance, and the dealer will get a commission, so is more likely to knock some off the price. However it will more than likely be a higher interest rate. So it depends if the discount will offset the higher APR.

Also, the dealer may well try and sell GAP insurance, and although this is a very good idea, its hideously overpriced at dealers. My inexperience shows as I paid £400 at a dealer for something which I could have got online for much less.


Finally, make sure she puts some money aside for insurance! At her age, i'm afraid it will most likely be £1000+ no matter what car she gets.