Help with zopa loan to buy car

forgotmyname

Is that 100 mile each way journey? 200 miles a day?

Or is that the mileage per week?

Doing 30,000 a year you want to know what the repair and servicing costs are. At least 2 services a year and maybe more.

LittleHelpPlz

I wouldn't recommend a 7 year car loan, far too long!

I would look for something a little cheaper, you'll regret it in 5 years time when you're still paying off a loan!

19lottie82

Hannah1991 wrote: »

Open to suggestions on cars, have been recommended to look at ford ka's, vauxhall corsa and suziki swift.

I'd be looking for something with a little bit more power (nothing excessive of course) to make longer journeys a bit more comfy. Insurance quotes permitting tho, as I'm guessing you are only 22/23, by your user name.

Maybe a golf, or ford focus?

Also, consider diesel models before petrol, as they are more economical to run and you will get a lot more miles out of them before they die.

Simple way to take the ouch out of any future repair bills is to put a small amount away per week and DONT touch it. Perhaps £5 -£10 a week.

BillJones

Hannah1991 wrote: »

However i am also looking into the option of buying an older car with a few more miles on the clock for a price of around £3000. I am only worried about running into possible expensive problems happening further down the road.

I nmost cases this will be the cheapper route overall. A modern car will hopefully run for hundreds of thousands of miles without major problems.

A good option is normally to take this route, and then to take the money that you have saved in terms of loan pyments, and put it away just in case you need work done. If you ened it, you are no worse off, but very likely you'll end up with a reasonable amount of savings in a few years time whic you can then use towards the next car.

Getting to the point where you can be financing a car out of savings, not with a loan, is a pretty good aim for the medium term.

Shawn_Dark

Go to the Toyota website and buy a Yaris on their 5 year interest-free deal.

Can't beat Japanese or German cars for reliability and they hold their value better than any other (which would be useful if you decide five years later to trade it in or just sell it).

Talking from experience here plus advice from my brother who is a trader.

mustang121

You get what you pay for. I would keep away from FIAT, Citroen, Vauxhall, Renault and Peugeot. These are very cheap cars which is reflected in quality.




For economy, reliability and price holding I would recommend Honda Jazz, VW Diesel Golf, Toyota Yaris.


I think even SEAT's as I believe they are built by VW, but with a cheaper badge.