59K Car Loan

C32AMG

To the OP:

To many people on here £59k is a lot of money full stop, let alone spend on a car! However, don't be put off by the reverse snobbery exuded by a few posters so far - if you can afford the payments (realistically) then why not.

I would advise you to try to push the dealer for a better rate finance package. Baloon payments are an easy way to keep payments low(er) but you will need to be able to stump up the cash when the baloon is due - will you be able to budget for that?

I would advise you to put up a deposit which will help protect you against negative equity, as depending on the car it will depreciate hugely in the first 12 months.

Try asking the same questions on the Pistonheads forum, lots of car enthusiasts there (many with cars or car collections worth more than most peoples houses!) and will probably give you a better all-round opinion.

Zebedee69

What cars cost £59000

That must be some Ford Fiesta;) Is it an RS Turbo?.......:D

Gillianh2

What with depreciation etc; would it not be better to try and lease the vehicle for a fixed term of say 3 years and then keep renewing the lease, the payments would be about the same but you would be able to keep upgrading without losing quite so much on the original purchase. Of course if you own a company you could also make tax savings on this too.
Some Car leases you can do for 12months. Might be worth looking into.;)