Car finance (pcp)

System

Walkingdead91 wrote: »

Then I can use my current car as a deposit of 8k+ towards the 19k.

Or alternatively find a car that is the size you need for the £8k you can get for yours, you could be in a 4/5 year old Mondeo for that. Large cars depreciate faster than small ones because of the running costs, particularly for young people.

MalcRH12

Buy a car for 3-4k, pay off your debts then save.

Walkingdead91

Thanks for all the responses everyone.

I didn’t really need to trade up as the I have does the family it’s just faf getting kids in and out with it being a low car ( a3 saloon ) and a faf getting a double buggy out and in with the boot enterance being thin

I truely appreciate all your advice and I can now say I will be a proud owner of a 66 plate a4 advant s line come Friday.

Got what I wanted for the car and I’m
No worse off then I was before. ( apart from the balloon payment ) but I don’t intend on keeping the car anyways so I’ll cross that bridge when I come to it.

Thanks for all your advice

k3lvc

Walkingdead91 wrote: »

I truely appreciate all your advice and I can now say I will be a proud owner of a 66 plate a4 advant s line come Friday.

Got what I wanted for the car and I’m
No worse off then I was before. ( apart from the balloon payment ) but I don’t intend on keeping the car anyways so I’ll cross that bridge when I come to it.

Thanks for all your advice

So you really didn't listen to any of the advice given :mad:

I can't blame you, I've been there, done that and am still paying for it long after the shiny new toy feeling has gone.

All you've done is kick a (now bigger) financial issue further down the road and I'm sure you'll end up back here in 2yrs

In the meantime enjoy the new car

Nasqueron

Walkingdead91 wrote: »

Thanks for all the responses everyone.

I didn’t really need to trade up as the I have does the family it’s just faf getting kids in and out with it being a low car ( a3 saloon ) and a faf getting a double buggy out and in with the boot enterance being thin

I truely appreciate all your advice and I can now say I will be a proud owner of a 66 plate a4 advant s line come Friday.

Got what I wanted for the car and I’m
No worse off then I was before. ( apart from the balloon payment ) but I don’t intend on keeping the car anyways so I’ll cross that bridge when I come to it.

Thanks for all your advice

So in 3 years time you'll have to deal with another finance issue of getting a new car and another cycle of debt that you struggle with already? See you then

System

Walkingdead91 wrote: »

Got what I wanted for the car and I’m
No worse off then I was before.

Yes you are. If you look at your credit file in a month you'll find that the amount of debt you are in has just had a ton more money go on it as the debt will be adding the full cost of the A4 less the amount you got for your car and you now not only have two credit cards and an £8k loan for a car you no longer own but a 3 year PCP deal plus the balloon payment as well as debt.

But at least you've now got a shiny 2/3 year old Audi A4 you can prance around in going "look at me, aren't I doing well" when you're on the school run. You can join in with all the others at the school up to their eyeballs in debt trying to portray a lifestyle they can't afford.

We'll see you again in April 2022 when your PCP is coming to an end, you've no money and wondering how you can finance your next car.

parking_question_chap

Walkingdead91 wrote: »

Thanks for all the responses everyone.

I didn’t really need to trade up as the I have does the family it’s just faf getting kids in and out with it being a low car ( a3 saloon ) and a faf getting a double buggy out and in with the boot enterance being thin

I truely appreciate all your advice and I can now say I will be a proud owner of a 66 plate a4 advant s line come Friday.

Got what I wanted for the car and I’m
No worse off then I was before. ( apart from the balloon payment ) but I don’t intend on keeping the car anyways so I’ll cross that bridge when I come to it.

Thanks for all your advice

Not really sure thats anything to be proud of, and kids certainly dont get any cheaper when they get older.

But at least you are keeping up with the Joneses.

stehouk

ha ha ha ha what a good read this has been, op obviously didn't pay any attention to the advice offered, good luck to them but "proud owner" no, you own nothing but the debt i'm afraid.

keeping up with the Joneses, my neighbour parked his brand spanking new Mercedes c class on drive 33k new on a pcp £400 per mth that's what its like these days.

MEM62

Walkingdead91 wrote: »

I know. I wouldn’t call 5k worth of credit cards a masssssive amount of debt, and as you say nearly a full years wage on a car? I worked out it’s not even quater of my wage over the next 4 years as I know some people advice stopping below 25% etc but I don’t know exactly how the companies work things out and I know they won’t give a dam that I’ll be clearing credit card debt with the trade in from my current car valued around 10-11k

The DFW forum looks forward to your future posts