Car finance on a apprenticeship and benifits.

F1F93

A couple of years ago I bought a 2006 Ford Focus with about 60K on the clock for £5000. At a similar time, my MIL2B bought a 1997 peugeot 307 with about 160K on the clock, for £500.

I got rid of mine earlier this year after it went wrong for the 12th (I think) time in under 2 years. I'd spent about £2000 just keeping it on the road. The longest it spent between breakdowns was 3 months (other than the 6 month warranty period, of course!).

On the other hand, that little peugeot soldiered on and earlier this year had its first failure - a broken clutch cable, which is hardly the end of the world.

Obviously, if you're like me, then I'd rather have a nice car anyway, but that's just 'cause I like cars! And hey, you only live once, so you might as well enjoy yourself. But if you're only thinking of breakdowns, then tbh it doesn't matter much what age of car you get.

Get a cheap car, and put the money you would have spent on repayments towards a mortgage deposit.

Milo.gamble

F1F93 wrote: »

A couple of years ago I bought a 2006 Ford Focus with about 60K on the clock for £5000. At a similar time, my MIL2B bought a 1997 peugeot 307 with about 160K on the clock, for £500.

I got rid of mine earlier this year after it went wrong for the 12th (I think) time in under 2 years. I'd spent about £2000 just keeping it on the road. The longest it spent between breakdowns was 3 months (other than the 6 month warranty period, of course!).

On the other hand, that little peugeot soldiered on and earlier this year had its first failure - a broken clutch cable, which is hardly the end of the world.

Obviously, if you're like me, then I'd rather have a nice car anyway, but that's just 'cause I like cars! And hey, you only live once, so you might as well enjoy yourself. But if you're only thinking of breakdowns, then tbh it doesn't matter much what age of car you get.

Get a cheap car, and put the money you would have spent on repayments towards a mortgage deposit.

I guess I do like to have a nice car but for me it's more about traveling around the country in comfort and efficiency witch you get a lot more of in newer cars.

forgotmyname

No point in saving 1p per mile because its efficient if the depreciation is 10p per mile.

I have a large family estate car with a 2L diesel engine, yet on a run i can get close to 60mpg.
Depreciation.. well i only paid £2000 for it so not a lot to lose. I have owned it for almost 5 years. It was 5 years old when i bought it.

No need to spend a fortune on cars.

Dont forget that new cars also break down and cost money to service and repair.

Nodding_Donkey

And newer cars generally cost more to repair.

BillJones

Milo.gamble wrote: »

Thanks for the quick replys. I understand what your saying I would rather buy out right. But as I travel a lot every day for work aswell as wanting to travel around the U.K. With both kids I really want...

As you've seen, though, your wants are not in line with your means. We all want nice things, but that does not mean that it makes sense to take on debts to get them.

If you want a bigger, newer car, you can have one, just not today. Start off with a cheaper car, put some money aside each month, and work your way up to what you are aiming for over coming years.

AdrianC

BillJones wrote: »

As you've seen, though, your wants are not in line with your means. We all want nice things, but that does not mean that it makes sense to take on debts to get them.

THIS.

You earn three-quarters of b'g'r all. You have other - major - financial commitments <points to children>. Your LOWEST financial priority is getting yourself neck-deep in hock for an expensive, rapidly depreciating nice-to-have like a newish car.

(Oh, and you don't _NEED_ to holiday anywhere. Holidays are another nice-to-have.)

BillJones

Milo.gamble wrote: »

I guess I do like to have a nice car but for me it's more about traveling around the country in comfort and efficiency witch you get a lot more of in newer cars.

I like to have a nice car, too, which is why I wandered into a Mercedes dealership a while back and bought a shiny new C63. It really is lovely. It's a bit thirsty, but well worth it.

Fortunately for me, I've been a well paid professional for about twenty years, and so bought it with money that was not earmarked for anything else. In years past, before I was on a good wage, I would run a rusty old fiesta, which I'd sometimes have to lie under in the snow repairing an alternator that I could not afford to replace. Before that I'd travel the length of the country on a 100cc motorbike, loaded with my possessions, as I had no money for even train fare.

I wouldn't have dreamed if taking on debt. In fact, if I'd have had debt hanging over me, I'd not have been able to give up my low paying job to go back to university, and from there into the job that I do now. Debt for luxuries that you can't afford takes away your future choices. It narrows your world, and you really should avoid it.

Slowly_does_it..

Have a look at the bangernomics thread on here, some seriously nice motors for peanuts that have been run for ages with no repairs needed.

I would really think twice about getting yourself and your family into debt with a car loan, live within your means, not your wants.

hgotsparkle

I bought my current car - a 1.6 16v Club Astra 2001 for £500 this year.
Its a great car, the mk4s don't look like old cars for their age, they run forever with good maintenance.
I can afford a newer fancier car but to be honest - I don't need one. My car costs me barely anything to maintain, its cheap to run, cheap to insure and looks good. I wouldn't get into debt over anything, as I'm saving for a mortgage deposit too so I wouldn't risk causing an issue with that for the sake of a car.

Newer cars have more techonology in them so have more to go wrong and 9 times out of 10, if a part that breaks is easy to replace, its generally in an area that only a mechanic can get to, with older cars you can replace a lot of things that break yourself.

I do quite a lot of mileage in my car, we often drive around in it for holidays and days out, up and down the country and its perfect, picks up speed quickly, smooth ride at high speeds.

Get the idea of a new car out of your head because its a waste and its just not feasible or worth it.

reason2

this is one of those threads where advice in relation to the question hasnt been given...

too many people TELLING the guy what to do because they know best.

That wasnt the question asked..

he believes he can afford payments for a reasonably priced car.. under 10 yrs old.. he has consideration for his autistic son.. which i understand as my sister is autistic.. a noisey rattly banger wont be great.

can anyone offer advice on where this guy could look for a car at a reasonable price with reasonable repayments..

fords of windsor maybe.. you can get a 3k car for under £100 a month.. if he thinks he can afford that not for us to stop him.