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Options on purchasing new car

iBeast
iBeast Posts: 36 Forumite
Hey guys,
Ill soon be looking to buy a car, it'll be selling at around £26000 ill have around 7-9 thousand saved up and wondering what different options i have in purchasing it.
Ill be looking to keep the car for a while and wont be trading it in after a few years.
Thanks in advance:)
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Comments

  • Stoke
    Stoke Posts: 3,182 Forumite
    iBeast wrote: »
    Hey guys,
    Ill soon be looking to buy a car, it'll be selling at around £26000 ill have around 7-9 thousand saved up and wondering what different options i have in purchasing it.
    Ill be looking to keep the car for a while and wont be trading it in after a few years.
    Thanks in advance:)

    Desperate for a new car? MoneySavingExpert is probably the wrong forum for you then :P
  • iBeast
    iBeast Posts: 36 Forumite
    Thanks Stoke Usefull
    Nobody has signatures anymore everyone has chip and pin!
  • Stoke
    Stoke Posts: 3,182 Forumite
    iBeast wrote: »
    Thanks Stoke Usefull

    Apologies, but the point of this forum is to save money, and one of the great ways to spend... lots of money, is to buy a brand new car. I'll happily give you some good second hand options that are low mileage and a year old and are top value, as will many others on here, but buying a new car has proven time and time again to be, well, not a good way to save money ;)
  • wallbash
    wallbash Posts: 17,775 Forumite
    Stoke wrote: »
    Desperate for a new car? MoneySavingExpert is probably the wrong forum for you then :P

    Wrong , buying a new car is a minefield, too many deals out there,I naturally thought of buying a nearly new car, save some money, but crunching the figures gave me a head ache.
    Had the money to buy for cash, money sitting in the bank earning very little, getting a finance package 'could' save me money...... :eek:

    So I hope iBeast gets some advice.

    PS what did I do ? nothing , the original car is still sitting on the drive,will have another think after the hols.
  • forgotmyname
    forgotmyname Posts: 32,820 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Best option, Save more until you have enough money to pay cash?

    Save on the interest for a start.
    Censorship Reigns Supreme in Troll City...

  • Stoke
    Stoke Posts: 3,182 Forumite
    wallbash wrote: »
    Wrong , buying a new car is a minefield, too many deals out there,I naturally thought of buying a nearly new car, save some money, but crunching the figures gave me a head ache.
    Had the money to buy for cash, money sitting in the bank earning very little, getting a finance package 'could' save me money...... :eek:

    So I hope iBeast gets some advice.

    PS what did I do ? nothing , the original car is still sitting on the drive,will have another think after the hols.

    I think my point was missed.
  • wallbash
    wallbash Posts: 17,775 Forumite
    Stoke wrote: »
    I think my point was missed.

    Not missed just not always correct.
  • Stoke
    Stoke Posts: 3,182 Forumite
    wallbash wrote: »
    Not missed just not always correct.

    Okay :cool:
  • Sportacus
    Sportacus Posts: 246 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Simple, get the best non-secured loan you can for the rest of the cash you need.


    But if you really want to drive a new car every three years I reckon leasing is a better option, cheaper than typical loan repayments if buying, and far less worry.
  • motorguy
    motorguy Posts: 22,597 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Stoke wrote: »
    Apologies, but the point of this forum is to save money, and one of the great ways to spend... lots of money, is to buy a brand new car. I'll happily give you some good second hand options that are low mileage and a year old and are top value, as will many others on here, but buying a new car has proven time and time again to be, well, not a good way to save money ;)

    The purpose of this site to help people get the best possible deal on the item they want. Not to not buy the item in the first place. Like if you look at the deals forum, if there is a deal on a top spec SONY TV, then we could all vote it cold as really people only need a basic TV or a second hand one.

    Likewise with holidays - why go on a foreign holiday when you could simply get a bus to a a local seaside resort and stay there?

    It may well be that money can be saved on buy a used car but likewise the O/P may wish to buy a specific spec OR it may be a new model just out with none available second hand.

    Also there are many extra incentives to buy new promoted by manufacturers which may offset the cost of buying new instead of used.

    If its a run of the mill car such as a golf or a fiesta, then yes, its very likely that you will get a better deal buying used. If its a merc or BMW it may well be better to look at a brand new one, as a demo may be last years model and be only a few pounds less.

    So whilst it is good to ensure the O/P is aware of ALL options, our default response shouldnt be "dont buy new" - not without having all the info at hand.
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