Cost effective way of buying a car on finance?

AdrianC

JustAnotherSaver said:

AdrianC said:

Bear in mind most of the deals on new cars are manufacturer-subsidised. That makes them a lot cheaper than deals on used cars, because nobody's subsidising shifting metal for second-hand cars... And when I say "second-hand", I mean everything that isn't spanking-brand-new. Including "pre-reg", "1yo", etc etc.

So the cheaper deals are on never-before-owned cars, you wouldn't even put barely used 10k milers from the dealer in that category?

No, I wouldn't. They are second-hand cars, not new ones.

BTW, most of the "1yr 10k" cars are ex-rental. Who else gets rid of cars that quickly?

JustAnotherSaver

AdrianC said:

JustAnotherSaver said:

AdrianC said:

Bear in mind most of the deals on new cars are manufacturer-subsidised. That makes them a lot cheaper than deals on used cars, because nobody's subsidising shifting metal for second-hand cars... And when I say "second-hand", I mean everything that isn't spanking-brand-new. Including "pre-reg", "1yo", etc etc.

So the cheaper deals are on never-before-owned cars, you wouldn't even put barely used 10k milers from the dealer in that category?

No, I wouldn't. They are second-hand cars, not new ones.

BTW, most of the "1yr 10k" cars are ex-rental. Who else gets rid of cars that quickly?

Thanks for the info.

And i was just throwing them numbers out there randomly as an example.

foxy-stoat

Is she wants trouble free piece of mind motoring and someone to fix the car for free should it go wrong, with finance, then an 8 year old Ford Focus is not going to be the best car to get.

Look at Hyundai i30 - you can pick up 2 or 3 year old ones for £10K with less than 10,000 miles or maybe a 4 year old Honda Civic with 40,000 miles or so.  They should last a long time without major issues.

forgotmyname

£7k for a 2012 car?    I paid less than half that for a newer car.    Its 8 years old and its going to need looking after
so add that onto the monthly bills.  The car is likely to be a noose long before the loans paid off, unless its just 12 months.

Personally I think with finance it should be fairly new and full paid off before its 5 years old.  Finance going on longer than
that you need to have the budget for an expensive repair as well as keeping up the payments.

Best option is cash,  after being on here and reading lots of comments its made sense and if you cannot save then
how will you pay for the item and added interest if something unexpected happens.

fred246

It's sad that you have to consider buying a car on finance just because your mechanic is incompetent at repairing vehicles. I know it can be really hard but it's better to do some research and if possible find a competent mechanic.

JustAnotherSaver

fred246 said:

It's sad that you have to consider buying a car on finance just because your mechanic is incompetent at repairing vehicles. I know it can be really hard but it's better to do some research and if possible find a competent mechanic.

It's bad enough anyway, never mind for a female. Hard work finding honest interested people these days.

Branching off from mechanics we've had various tradesmen we've had to call on for various jobs on the house (if you want something broken then i'm your guy but anything beyond that then that's where my DIY skills end). I'd say the bad ones far outweigh the good ones and in some cases we even went on recommendation from family/friends. A lack of interest in the finished product, cutting corners, claiming they can do XYZ when they can't, broken promises. I don't know if it's because the people i work for are also like this but it seems 99% of people these days are out for maximum profit based off the absolute minimum care & effort (& less than that if they can get away with it).

I went to one mechanic about my own car - sorry i don't do that, i just want simple servicing at my time of life.

I went to another he recommended - sorry i'm snowed under. I don't have time to sleep. I'm working 24/7.

forgotmyname

Buy yourself a set of spanners and some overalls, you too can be an expert. 

Usually a video on Youtube or a quick google gets the answer.  Older cars need the owners handywork.

JustAnotherSaver

forgotmyname said:

Buy yourself a set of spanners and some overalls, you too can be an expert. 

Usually a video on Youtube or a quick google gets the answer.  Older cars need the owners handywork.

I do what i can myself. It usually ends up in something being broken. Hopefully not beyond that something being useable.

I took the connector off the throttle body of my last car. Couldn't get the damn thing off and didn't know if i was tackling it the right way. A snap later answered that question. Thankfully due to its location it didn't really make a difference.

Went to remove the centre console. The ashtray then got broken and kept flipping open if i went over a bump. To be fair i'd actually done that one a few times so no idea why this last time didn't work well.

Went to remove some side repeaters yesterday. The lens cover fell off and then the base must be glued to the car because it started snapping. Ok this one wasn't my fault but something always goes wrong .. always.

So when i have an oil cooling thermostat to change and there's potential for it to dump its coolant, i'm quite apprehensive about it, even though i have the part and i think i know how it should be done - although not 100% on whether it gets twisted in or just pushed in or whatever - in the meantime coolant will be P'ing everywhere.

And don't get me started on the DIY in the home. 2 emergency plumber callouts and a flooded living room later.....

So when people say "come on now, it can't be that bad", i have to point out that we're not talking about THEM doing it, we're talking about ME doing it. There's a difference

cymruchris

Just a point to consider about finance in general - you say you're both anti- finance and have been for ages. Does this mean you don't have anything much on your credit history files? Do you have credit cards? If someone doesn't have much 'credit history' it can be difficult to get deals with low rates. You can look around and see these spectacular offers at 2.99 percent or something similar - but may find that if you have a very thin inactive credit file that you get offered a higher rate. 

I would also add to avoid buying cars from the shiny car supermarkets - as they are all glossed up and ready to tie you into an expensive financial contract on what are already fairly high priced cars for what they are. They give the impression they are cheap and good honest value - but I don't think they are  

JustAnotherSaver

I have an excellent credit rating and my sisters wont be too bad either.

I was always anti credit card too until i learned more about them and started playing the game. I was seeing what the percentages were on loans last night & ended up testing the water with my own account to the point before it starts impacting on your credit file. Halifax were happy to throw quite a lot of money my way.

Not to the same extent as I have but my sister has also played the game too so her rating wont be too bad.