Getting a car - best option

bevanuk

Hi,

My partner currently has a car on finance that is due to be up next month.
The car isn't very good, it's £149 a month and she will owe £4500 if chooses to keep the thing.
We need to get her a new car but don't have cash to buy something reasonable.
We are also going to be buying a home in the next 1 year.

Is the best option;
Get another car on finance with a better plan;
Lease a car for 1 year/ 2 years until we have funds to buy;
Get a loan for 4/5k and buy a car outright;

Advice appreciated.

Bevan

FYI - I know the best option is to save up and buy a car, but that isn't a choice right now.

AdrianC

Can't you buy a cheaper car than £4-5k?

The end of her PCP isn't something that should have come as a surprise.

bevanuk

It's a surprise to me, not to her. I have money for the mortgage etc, for various reasons I'm not willing to support on this one.

Can possibly go down to 3-4 but still won't have the cash, is a short term loan the best option at this point?

Thanks for your advice.

tacpot12

There are lots of good cars on eBay for a few hundred pounds. She doesn't need to to spend thousands of pounds to get a reliable car.

ratrace

I just bought a Nissan Micra 58 plate with 80,000 miles on the clock a bit tatty on the body but mechanically sound For £800 a bargain, Im going to spend £300 - £500 on it replacing brake pads & disks, full service including all the fluids etc... It should last my relative a few years untill they are in a better financial position

What im trying to say is to differentiate between a want and a need. you need a car it dosent mean you have to buy a 5k car when you dont need to especially now when cash is tight

there are bargains to be had you just have to filter the nice cars from all the crap out there

jimjames

bevanuk wrote: »

It's a surprise to me, not to her. I have money for the mortgage etc, for various reasons I'm not willing to support on this one.

Can possibly go down to 3-4 but still won't have the cash, is a short term loan the best option at this point?

Thanks for your advice.

You can still get a decent car up to £2k if you aren't fussy about what it is but are about the condition it is.