car buying pros and cons

Discussion in 'Off Topic Area' started by cavallin, Apr 18, 2008.

  1. cavallin

    cavallin kickin' kitten

    RIP car has nearly died.

    still i'm hoping to tell people it's fine and sell it for minimum £300 (with luck)

    so, i am now in a position where i need to buy a new one. i am happily getting a pay rise in september, so can afford car credit, but wondered what the best options would be.

    should i buy a new car, and get car credit?
    or get a loan to buy a car
    buy a car a couple years old
    5 years old?
    apparently thats when they start going wrong.

    i have savings of £1000 but dont want to use it all up, so maybe have cash of 500-600 for a deposit.

    buy from trade or private?

    my bf and dad are by no means experts, and was wondering what you map people thought would be the best option for me?

    as for credit repayments im talking only £170 max/month over a few years...

    help, i have car head. (stress about cars)
  2. Saz

    Saz Nerd Admin

    How long have you been driving, and how good are you (be honest :p)

    My first couple of cars were bangers, I dented the hell out of them as I was new to driving. Now I've got a new car and er.. I dented the hell out of that too :D

    Also are there any particular cars you wouldn't want, and want kind (small, big, hatchback etc)
  3. Yohan

    Yohan In the Spirit of Yohan Supporter

    Let me preface this by saying . . . I'm very thrifty. When I make large purchases, I consider it an investment and want my investment to keep it's value. I don't use credit cards and the only debt I have is my house.

    I think that buying a brand new car is a HUGE waste of money. It loses most of it's value as soon as you drive it off the lot, and that loss in investment in no way offsets the price of maintenance on an older car. When you buy a brand new car, you are mostly paying for convenience, and you are paying through the nose for it.

    I recommend buying a Japanese car that's a few years old. I bought a 99 honda accord about 2-3 years ago and it works like a damn champ. I haven't had to do any serious repair on it, just routine maintenance. I would recommend the same thing for you. Buy a car that's a few years old. Just buying a car that's 1 year old will save you 30% off the list price easy.

    What's car credit?
  4. Moi

    Moi Warriors live forever x

    Get a Mini, it'll still be worth something when you've finished paying for it.

    As for credit use the bank if you want insurance, if not shop around on the net. Don't use a comparison site for loans unless you've checked they don't give out your details before you agree to a loan, it'll wreck your credit score having multiple applications.

    Don't use a garages credit unless it's a good main agent (check the APR)

    Main Thing Don't use carcraft
  5. Taff

    Taff The Inevitable Hulk

    Slightly out of touch because cars here are stupidly cheap, along with cheap fuel and outrageously cheap insurance (£100 a year 3rd party fire and theft- hello? I am not even 25!).
    Best reason for buying a new car:
    No MOT for 3 years :)

    Aside from that, I don't think it's worth it. A careful check, a good eye and some luck will land you a good second hand car. As Yohan says, Japanese can be very good.
    I don't trust garages and tend to go with private sales. Of course, you can get ripped off awfully in a private sale and not much you can do about it. But, when you get a good deal privately, it's usually better than a garage. So it's risky, but I like a bit of that. :)

    Obvious things apply wrt long tax and MOT.
  6. Saz

    Saz Nerd Admin


    I bought a 6 year old Nissan Primera, orginal price around the £15k mark for £3k. Japanese car parts are more expensive, but they tend to go long without needed repairs other than a yearly service.
  7. bassai

    bassai onwards and upwards ! Moderator Supporter

    Going with the consensus don't buy brand new as you'll lose shed loads of money , although if your heart is set on something new shop around for "pre registered" cars , these are new cars that have been registered by the dealer to make their figures look good and then have to be sold as second hand with delivery mileage.
    Also if you buy a car at the end of the current product range (the ka comes to mind atm) then you can get some good deals as dealers are trying to clear stock , though bear in mind that the resale value may also be lower being the older model.
    Other than that go for a couple of years old japanese tend to be bullet proof , and as martial dad has said minis hold there value amazingly , although i've heard of coopers using alot of oil at surprisingly low mileage.
  8. Anth

    Anth Daft. Supporter

    If you want to buy new, wait until the new registrations are out (September and March). The showrooms will normally flog off the previous registrations (pretty much brand new cars) for a lot less than they would normally be.

    As for the comment about buying a Mini, only get a new (BMW) Mini and not a classic style one. Older Minis need work (even the last ones are getting to that age now) and you don't want to be working on things like engine seals, welding the sills and everything else (trust me, I've rebuilt two of the bloody cars!).
  9. Moi

    Moi Warriors live forever x

    I meant the new one, fantastic car. Have you seen the value of the old ones? A new one is cheaper now.
  10. Anth

    Anth Daft. Supporter

    I have - and I know that the registration plate on my dads is worth a heck of a lot more than the rest of the car, even though the interior cost us £1500 :confused: :D
  11. cavallin

    cavallin kickin' kitten

    what great advice thanks! i have seen demondtration cars at good prices, and hadn't thought about looking at japanese cars.
    i need something small ish but i do some long journeys (200miles) about 4 or 5 a year for my competitions so dont want a city car.
    as for bank loans for a private car, i am finding hard as they have really high interest rates plus im not a homeowner which doesnt help.
  12. cavallin

    cavallin kickin' kitten

    jeez hondas and minis are a lot more money than other makes i been looking at!
  13. Yohan

    Yohan In the Spirit of Yohan Supporter

    Hondas are freaking bulletproof though.
  14. cavallin

    cavallin kickin' kitten

    so with a honda do u think i could buy one thats a bit older but same price as a newer other car and it would be the same? does that make sense!!?
  15. Yohan

    Yohan In the Spirit of Yohan Supporter

    I don't know anything about British cars, in America, I would rather get a used Honda than a new Ford (American car manufacturer).
  16. cavallin

    cavallin kickin' kitten

    what about suzuki?
  17. Yohan

    Yohan In the Spirit of Yohan Supporter

    I don't rightly know. When I bought my car I picked up the used car edition of consumer reports and it told me lots of facts about reliability of used cars. It helped me make a wise purchase that I'm very happy with. I recommend you do the same.
  18. Taff

    Taff The Inevitable Hulk

    Toyota's are quite common in the UK- good stuff.
    Mitsubishis are made to last but I don't think they are readily available in Britain.

    Toyotas, I am told, are very cheap to fix up also. :)
  19. Moi

    Moi Warriors live forever x

    They are a good choice because of this. You buy the car and spend a bit more, better if you can do it with the deposit. 3 years down the line the car is still worth a good price and is still running, all the time you've owned it the car should be in positive equity so if necessary you can get out of it.

    You have to think of the longer term otherwise you will be in the same situation in a couple of years, little or no deposit, needing a new car. Buy into quality and not only will you feel safer and have a better car you'll only have to struggle the once, due to the low depreciation.

    All depends on if you can afford something nice now.

    I bought a Mini for my wife last year, fantastic car that I love driving. Solid secure and great fun. I could sell it now for more money than it cost me. I think of it as tying money up, not spending it.
  20. Moi

    Moi Warriors live forever x

    A toyota is a good reliable car, very rarely will one ever develop a fault. They are a very bland car to drive though. I'm sure Cav hasn't given up on life just yet.

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