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Mitsubishi Outlander PHEV
sunflowerlady
Posts: 77 Forumite
in Motoring
I’m looking to purchase a second hand Mitsubishi Outlander PHEV.
I’ve seen one that seems a decent price, could anyone cast their eye over the add for me and let me know your thoughts please?
Thanks in advance.
Jan 2020: Loan £3,576.17, Credit Cards £42,401.86, Store Card £1,833.61, Overdrafts £2,300.00. Total Debt: £50,111.64 / 1% = £501.12
Jun 2020 Update: Loan £1,925.63, Credit Cards £37,541.74Overdrafts £1,540.00 Total Debt: £41,007.37 / 1% = £410.07
Jan 2021 Update: Credit Cards £34,189.49, Overdrafts £900 Total Debt: £35,089.49 / 1% = £350.89
Jun 2020 Update: Loan £1,925.63, Credit Cards £37,541.74Overdrafts £1,540.00 Total Debt: £41,007.37 / 1% = £410.07
Jan 2021 Update: Credit Cards £34,189.49, Overdrafts £900 Total Debt: £35,089.49 / 1% = £350.89
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Comments
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I think it looks like a reasonable price, any particular reason for the Out-lander?I looked myself, and i went with the Hyundai Tuscon in the end.Research i did on the out lander said its got a tiny boot considering the vehicle size, and the engine is thirsty, far from offsetting the PHEV (unless you are doing a very short commute)0
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A few months ago Tuscan and Quashqai were on the list, but I wanted an experience of the Electric vehicle. I have seen ones with high mileage range from 17-22k but this one seems too good to be true, went to look at it and seems fine.The documents are all Mitsubishi stamped, two owners (Prob business owned/BIK), service and MOT till next July.Jan 2020: Loan £3,576.17, Credit Cards £42,401.86, Store Card £1,833.61, Overdrafts £2,300.00. Total Debt: £50,111.64 / 1% = £501.12
Jun 2020 Update: Loan £1,925.63, Credit Cards £37,541.74Overdrafts £1,540.00 Total Debt: £41,007.37 / 1% = £410.07
Jan 2021 Update: Credit Cards £34,189.49, Overdrafts £900 Total Debt: £35,089.49 / 1% = £350.890 -
Don't. You're already £45,000 in debt, according to your signature. Unless you've won the lottery in the interim, you can't afford to take on more finance. Especially finance against a depreciating asset such as that one, which is then going to chew through lots of petrol. It's old, high mileage and its value is set to drop like a stone in the coming years - it's possibly at the worst point of the depreciation curve, in that it's still expensive but still has a lot of value left to lose. It's also poised to fall into the used car danger zone, where things start breaking down and maintenance bills start piling up. You could get a perfectly serviceable car with less on the clock for less than a quarter of what the Mitsubishi costs, if you really need a replacement car at all.sunflowerlady said:I’m looking to purchase a second hand Mitsubishi Outlander PHEV.I’ve seen one that seems a decent price, could anyone cast their eye over the add for me and let me know your thoughts please?Thanks in advance.4 -
The plan is to part ex our current one and pay cash for the new one. Current one is 10 years old and costing loads. New one will be run mostly on electric for what we need it for. Projected debt repayments will bring overall balance owed down to £26k by the end of 2020 and just under £5k by the end of 2021, these figures allow for the cash purchase of a car upgrade.Jan 2020: Loan £3,576.17, Credit Cards £42,401.86, Store Card £1,833.61, Overdrafts £2,300.00. Total Debt: £50,111.64 / 1% = £501.12
Jun 2020 Update: Loan £1,925.63, Credit Cards £37,541.74Overdrafts £1,540.00 Total Debt: £41,007.37 / 1% = £410.07
Jan 2021 Update: Credit Cards £34,189.49, Overdrafts £900 Total Debt: £35,089.49 / 1% = £350.890 -
Unless you can calculate that there is a saving to be made by running mostly in EV mode, in your situation i would look at the Hyundai Tuscon, you can get a newer lower mileage car for a couple of £K less, and its more practical too.You need to do a lot of EV miles to offset the fuel cost.However if you really fancy the out lander go for it if you can afford it0
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sunflowerlady said:The plan is to part ex our current one and pay cash for the new one. Current one is 10 years old and costing loads. New one will be run mostly on electric for what we need it for. Projected debt repayments will bring overall balance owed down to £26k by the end of 2020 and just under £5k by the end of 2021, these figures allow for the cash purchase of a car upgrade.Just think how much quicker you'd be paying it off AND HOW MUCH INTEREST YOU'D SAVE if you put the lump sum into paying off the debt.If you buy this car in cash you won't just be paying the price it's advertised for. You'll be paying that price plus whatever the highest rates of interest are on the debt you could have repaid with that lump sum. For example if you owed £10k on a credit card at 14.9% APR your Mitsi wouldn't just cost you £10k in cash it'd cost you nearly £14k when you add on the interest you'll be paying on that card for the year or more it would take to reduce the CC balance by £10k which could've been avoided for the sake of waiting a year or so.You could be debt free by the end of 2020 if you really pulled your finger out. Your life won't end just because you keep your current vehicle another 12 months.
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But you can't, as I'm sure you know, spend your way out of debt. The Mitsubishi isn't some sort of panacea, in fact it's almost as old as your present car. I've got a 14 year old car which, bar tyres, servicing and a replacement sensor has cost me absolutely nothing in the time that I've owned it. It's the way to go when in debt - reduce your outgoings and get rid of unaffordable assets.sunflowerlady said:The plan is to part ex our current one and pay cash for the new one. Current one is 10 years old and costing loads. New one will be run mostly on electric for what we need it for. Projected debt repayments will bring overall balance owed down to £26k by the end of 2020 and just under £5k by the end of 2021, these figures allow for the cash purchase of a car upgrade.1 -
£40k in debt, and considering buying a 6yo £11k 100k very, very complex car "because it'll be cheaper"...
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Range Rover tastes, Dacia Duster budget.2
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AdrianC said:£40k in debt, and considering buying a 6yo £11k 100k very, very complex car "because it'll be cheaper"...If the current climate has not made people aware of how vulnerable and financially fragile they are nothing will, its madness, a chap i know has bought a new ev for £25k+ because it allows him to save £70 a month on fuel.Shakes head and goes and lies in a dark room to contemplate the stupidity of some people
“People are caught up in an egotistic artificial rat race to display a false image to society. We want the biggest house, fanciest car, and we don't mind paying the sky high mortgage to put up that show. We sacrifice our biggest assets our health and time, We feel happy when we see people look up to us and see how successful we are”
Rat Race0
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