New car options

luckybert

I have a 2010 ford focus with 118000 on the clock and wondering what my options are going forward.


I don't have any money for a deposit so if I am to buy a car should I get a personal loan, lease a car, buy a new car, buy private etc etc


I've never bought a lease car (I've always got a loan and traded my car in for a newer used one).


What are peoples thoughts on this as I fear I'm only going to be spending more on mine and feel it's time to change.

[Deleted User]

Cost you more to change car. Stick with it and spend any money on servicing. You should get another 5 years out of it.
You could put what ever money you would pay each month for a new one away for repairs.

foxy-stoat

Have you got any reason apart from a feeling that your Focus will need a major repair bill?

Why dont you have any savings, how will you pay for the loan for the new car?

Get a credit card with a money transfer option, try for say £5,000 or £6,000 limit and transfer £5K into a savings account or buy premium bonds and wait until your car needs a big bill, then you have the cash to buy a reasonable car....if it does last for 10 more months ( usual MT 0% offer period ) you can either repay the credit card, whatever is left, and repeat that process until you NEED to buy a new car.

As long as you keep making the repayments your credit file will look better and you will pay no interest, and may win a few £25'ers on the premium bonds.

Dont lease a car.

sheslookinhot

Leasing a car can be a good option, most companies have special offers which are really the best of their deals. You can be driving a new car for about £150 per month.

onomatopoeia99

My car is 10 years older than yours, has more miles on it and is still going strong as my commuting and long distance travel vehicle. Can't think why I'd change it.


So one of your options is to keep the car.

System

luckybert wrote: »

I have a 2010 ford focus with 118000 on the clock and wondering what my options are going forward.

I don't have any money for a deposit

Then the solution is clear, keep what you have. You cannot afford another car.

What are peoples thoughts on this as I fear I'm only going to be spending more on mine and feel it's time to change.

Service it, run it. Even if you spent £1000 in a year on repairs it is cheaper than what you'll pay in finance repayments. Just because its 9 years old and on 113,000 miles doesn't mean it is going to be a money pit. My Mondeo is the same age as yours, on 139,000 miles and continues on just fine. It has just passed another MOT with nothing more than an advisory for the rear indicator bulbs starting to fade in colour.

My previous car you can check its MOT history here: https://www.check-mot.service.gov.uk/ and enter EG04DVP as the registration. At 168,000 miles it still went straight through a MOT and in fact in its entire lifetime failed just one on a sticking rear brake caliper at 155,000 miles.

Both of those vehicles I had no qualms about jumping in, filling up with diesel, running 800 miles to France in one go and doing 2000 miles in that week on my hols.

parking_question_chap

My current car is a couple of years older than yours, intend to keep it as long as it doesnt cost much to maintain. Dont make the mistake of assuming your car is about to cost you a fortune, wait until you have a big repair and then consider your options. In the meantime I suggest saving.

jeradon

If your car doesn't give you a serious headache, there's no reason not to keep it.