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Car finance help
Comments
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Quite.
It's funny how you think a new car is better for you when you're buying, but a used car is better for everyone else when you're selling.
That's rather bizarre logic.
My friend works at the dealership I bought my car from. I got a £4500 deposit contribution and then £500 off the cash price of the car. He told me that because Citroen pay the deposit contribution, that's the only way they can afford it. They can't afford to give more than £1,500 off the cash price.
So depreciation isn't bad at all when you're getting £5000 off the price of the car, you're basically cutting off the depreciation cost. Each to their own whether they want a new or used car.
When have I ever said that a used car is better for everyone else when I'm selling? When I come to sell my car, of course I'm going to try and get as much money for it as I can, who wouldn't?Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
You're using student loans to finance a new car. I know you gotta impress your new mates, but it's hardly shows good financial planning.Hope over Fear. #VoteYes0
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A novice driver, and a brand new car? The insurance premium needs to be factored in to the total cost of ownership as this will be substantial. A new car is a luxury and a liability.
A pre-owned car will allow you to build up an NCD that will save you real money - anyone starting at 0%, with a brand new car will pay a price few will feel is reasonable.0 -
You're using student loans to finance a new car. I know you gotta impress your new mates, but it's hardly shows good financial planning.
Considering I work part time and earn £17,500 a year, I'm going to go ahead and say that you don't know anything about my financial situation.A novice driver, and a brand new car? The insurance premium needs to be factored in to the total cost of ownership as this will be substantial. A new car is a luxury and a liability.
A pre-owned car will allow you to build up an NCD that will save you real money - anyone starting at 0%, with a brand new car will pay a price few will feel is reasonable.
I saved money on my insurance going to a new car, probably due to safety ratings but it obviously depends on individual circumstances.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
thebritishbloke wrote: »Considering I work part time and earn £17,500 a year, I'm going to go ahead and say that you don't know anything about my financial situation.thebritishbloke wrote: »I'm only 19 and I got approved for a £14,450 loan with Citroen Finance, and I'm a student!
Why did you decide to be disingenuous then?
You left out the £17.5K bit earlier.Hope over Fear. #VoteYes0 -
Why did you decide to be disingenuous then?
You left out the £17.5K bit earlier.
Because when I applied for my finance, they put me down as being a student. They never even questioned my income or if I had a job, seems like a silly way to do it.
Didn't mean to come across quite so angry before, sorry if I did.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
The large discounts off the list price affect future values though.
You say you sold it for £2000 more than you owed. BUT what was that figure?
Im guessing you lost about £6k in 3 years.Censorship Reigns Supreme in Troll City...0 -
forgotmyname wrote: »The large discounts off the list price affect future values though.
You say you sold it for £2000 more than you owed. BUT what was that figure?
Im guessing you lost about £6k in 3 years.
£4k, but that £4k gave me a brand new car for 3 years and included AA Cover and Services.
We can quibble for days on end about whether a new or used car is better, but if a person wants a new car, they're going to buy a new car.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
the list price is a con, as know dealer ever sells at it. the psa deal above is the just add fuel pcp deal with a balloon at the end. peugeot loose so much value Im glad I got rid of my 207ccDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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How come the people that insist that new cars are better, even when bought on finance, always say that 'I'll keep it for 10 years' but go on to say that if they bought a 3-5 year old car, it would be junk within 2 years?
FWIW, I bought a 3 YO car for a little over 30% of the list price, so that's £13k that someone else has lost in depreciation, thank you very much.
I've had it for 2 years now without a hint of trouble, sailing through 2 MOTs, and I fully expect to keep it until it is 10 years old or more - I drive brand new cars regularly (work hire cars) and mine doesn't feel inferior in any way.
So what if it might need money spending on it every once in a while in the future. I'll take it out of the £££££s I'm not spending on a new car.0
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