Buying a car

BMTH

Ended up paying my car off on finance in late 2015 then selling it due to being on a low income.

I'm still on fairly low income but have about £1000 saved up to buy a new car as I really miss having one. A few people mentioned about 0% finance, taking a loan from the bank or even PCP as I'm too stubborn to buy an old car.. wouldn't even know where to start!

Would appreciate any advice.. thanks!

patronniall

What is your monthly income so we determine your monthly car payment that you can afford

BeenThroughItAll

patronniall wrote: »

What is your monthly income so we determine your monthly car payment that you can afford

Are you a qualified financial advisor now, or still just a Walter Mitty student?

GTE_Boy

BeenThroughItAll wrote: »

Are you a qualified financial advisor now, or still just a Walter Mitty student?

Whatever the figure are I bet a BMW's the Best Buy.

loskie

there is no such thing as 0% finance; you are paying somewhere.

BMTH

loskie wrote: »

there is no such thing as 0% finance; you are paying somewhere.

No need to be pedantic. You knew what I meant. "0% interest"

worried_jim

BMTH wrote: »

No need to be pedantic. You knew what I meant. "0% interest"

You've got the wrong end of the stick, they mean that the cost is built into the deal.

Car is £5k, interest is £500, @ x% total payable £5.5k

Car is £5.5k with zero interest, total payable is £5.5k.

There is no free lunch.

BMTH

worried_jim wrote: »

You've got the wrong end of the stick, they mean that the cost is built into the deal.

Car is £5k, internet is £500, @ x% total payable £5.5k

Car is £5.5k with zero interest, total payable is £5.5k.

There is no free lunch.

What on earth are you on about? I didn't say it was a free lunch. I do know how finance works...

boliston

BMTH wrote: »

Ended up paying my car off on finance in late 2015 then selling it due to being on a low income.

I'm still on fairly low income but have about £1000 saved up to buy a new car as I really miss having one. A few people mentioned about 0% finance, taking a loan from the bank or even PCP as I'm too stubborn to buy an old car.. wouldn't even know where to start!

Would appreciate any advice.. thanks!

There is an article here on cars in this range
http://blog.greenflag.com/2015/banger-boom-whats-the-best-used-car-for-1000/

Cornucopia

https://www.contracthireandleasing.com/car-leasing-news/top-five-cars-you-can-lease-for-under-100-a-month/

Tiddlywinks

patronniall wrote: »

What is your monthly income so we determine your monthly car payment that you can afford

It's not just the income that is relevant though is it?

It's the current outgoings from that income... plus it's not just the monthly finance cost that needs to be considered but the ongoing running costs of the car.