Best way to buy a car

mercedesml

hi,have you shoped around for a car! i used to be in the motor trade and had the good fortune to get away from it 8 years ago,i had a company car last year that got sent back and work gave us a car allowence each month wich is pants for me as i have a car but the engine is to thirsty for the fuel repayments so i had to buy a car just to use for work! i whent to the car auctions for the fleet sales(avoid generul sales as there is a lot of bodged junk) the thing with fleet cars(after having one) is ther normally maintained by main dealers who take adevantage of the fact the fleet companys payimg and do extra bits(i also had a van that went in for front brakes pads two weeks before the end of the lease and came back with new front/rear pads and disc and handbrake cable! glad im not paying)i got a 4 year old scenic for £3570 and it was the + model with all the extras,pay a bit more and get one with lower milage! as for being reliable mine has know done 145000 with no problems at all! £5000 should see a nice car! which would leave you only £3500 on a loan! take someone with you that knows a bit about cars if you can! if you look at british car auctions on the net you will see if there is one near you,also check with them on buyers fee's. if your car is costing you money/having problems has it been well maintained!! also is the garage that does the work/mot's a good trustworhy one! the mot test is an easy way for a garage to make money from you! and if your paying, a main dealer is not allways the best choice! as far as value for money goes!

slipp_digby

not being judgemental but i would think sub £5k would be a more sensible budget bearing in mind the deposit and desire for low monthly payments.

You are proposing taking on quite a lot of debt to own this car right now. do your circumstances really dictate that you need a 10k car?

Inactive

slipp_digby wrote: »

not being judgemental but i would think sub £5k would be a more sensible budget bearing in mind the deposit and desire for low monthly payments.

You are proposing taking on quite a lot of debt to own this car right now. do your circumstances really dictate that you need a 10k car?

Indeed, if you shop around you can still get a brand new car for under £6000, it may not impress your mates or neighbours however, but at least it will be affordable.

anna42hmr

if you decide to get a loan, then shop around for the best rates, work out aproximatly what amount you need in finance, and how long you want it over, and then shop around for loan deals before you go to the garage, then if the garage offers a finance deal, you know what other options you have.

i have just bought a new car and paid a high deposit (due to 2 cars being part ex'd for it) and the rest we had on the garages finance plan as the the interest was 0.75% lower than the cheapest loan quote from other sources.

be aware though that if you go through the garages finance then unlike with a bank loan, then if you want to sell the car before the finance is paid off, you need to settle the finance some how and if you default on a car loan, they can take possession of the car

CLAPTON

anna42hmr wrote: »

if you decide to get a loan, then shop around for the best rates, work out aproximatly what amount you need in finance, and how long you want it over, and then shop around for loan deals before you go to the garage, then if the garage offers a finance deal, you know what other options you have.

i have just bought a new car and paid a high deposit (due to 2 cars being part ex'd for it) and the rest we had on the garages finance plan as the the interest was 0.75% lower than the cheapest loan quote from other sources.

be aware though that if you go through the garages finance then unlike with a bank loan, then if you want to sell the car before the finance is paid off, you need to settle the finance some how and if you default on a car loan, they can take possession of the car

i hope you were comparing true APR figures rather than garage typical 'flat rates'.

MORPH3US

OP, what car are you looking to get? Have you found the best price for it, or are you just saying £10,000 because thats what the dealer told you!??!

I'm not going to tell you what to do, but I do agree that £140 is unreralistic (i.e. over 7 years) for a car...

GF just got a Fiesta for £8k = £155 per month over 5 years and 5 years is too long really but for her I was more concerned with her safety plus she gets loads of work mileage to pay it off earlier....

anna42hmr

CLAPTON wrote: »

i hope you were comparing true APR figures rather than garage typical 'flat rates'.

yes we were