Car Finance advice

becky701

Hi

I'm looking to get a new car, not brand new, second hand for about 10K. I've looked at bank loans, which are about 180 p/m - I know the best option is to save but is the best alternative a loan like this?

I also wondered how much you can haggle with car salesman, if it's going to 10.9K how much wiggle room do you usually have?

Thank you

DCFC79

becky701 wrote: »

Hi

I'm looking to get a new car, not brand new, second hand for about 10K. I've looked at bank loans, which are about 180 p/m - I know the best option is to save but is the best alternative a loan like this?

I also wondered how much you can haggle with car salesman, if it's going to 10.9K how much wiggle room do you usually have?

Thank you

You do realise you can spend less than £10k and still have a good car ?

becky701

Which kind of car?

Herzlos

You can get a good example of literally any type of car for under £10k.

Answering the original questions: bank loan is usually the best way to do it, gives you plenty of flexibility and you own the car the whole time.

Haggling depends on the dealer, but with the internet they tend to price competitively now to get people to turn up (people usually pick a car, then go look at the cheapest one), so you may not get them to reduce the price any.

forgotmyname

I know plenty of places where the price is the price unless you want to haggle the price upwards which they will do.

Why £10k if you do not know what car you want? Last year we bought a sub 5 year old car for under £4k with low mileage, with basic servicing it should easily last 10 years.

becky701

We're looking for a Nissan Qashqai - it'll be a family car to share as my partner has a work van. We have a huge dog so partly need a bigger car to get him into it.

Thank you for the advice

Becky

iolanthe07

becky701 wrote: »

We're looking for a Nissan Qashqai - it'll be a family car to share as my partner has a work van. We have a huge dog so partly need a bigger car to get him into it.

Thank you for the advice

Becky

You might get more focused advice on the motoring section of this forum. Successful haggling depends on how keen the dealer is to shift the car and what is their bottom line when it comes to profit on the deal.

rdwarr

I bought a car last weekend. Forecourt price was £5390 but they had it on Ebay for £4990. I offered £4500 and got it for £4700. Some supermarket dealers don't do this but most will move 5% or so, especially if you can drive away on the same day.
So a bank loan helps here as you have the money in your account ready to spend.

nissan_st

Nissan finance or RCI may be best if your financing.
Ours came with £1000 deposit contribution that was payed monthly towards the finance.
Not as good as a bank loan but it could help your budget for the first year.
ours was a three year old car and not from a nissan dealer.

System

becky701 wrote: »

We're looking for a Nissan Qashqai - it'll be a family car to share as my partner has a work van. We have a huge dog so partly need a bigger car to get him into it.

Thank you for the advice

Becky

Something like a mid sized car like a Ford Mondeo would also be adequate. We have two collies and get them both in the back of mine fine and they're quite happy doing an 8hr journey. A car would be cheaper to run than a QashQai both in fuel and tyres.

eschaton

£10k isn't a lot for a car if you have £10k.

£10k is a lot to borrow for a car.

Best idea is to spend less and start saving. Maybe next time round you will be able to buy the car without borrowing.