Cheaper Car?

Phil W

Phil W

Phil W

Soldato
Joined
19 Oct 2002
Posts
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Location
Jupiter
Hi all,

Just agreed a price on a house, so i'll be moving into my own place in October.

I've currently got a 2000 Peugeot 206 GTi, not really sure i *need* it, but i do like to have a car to get from A-B when i need to.

I was thinking of selling the 206, and buying something cheaper, pocketing some cash in the process for bits and bobs for the house.

Obviously don't want to downgrade in terms of performance (what little the 206 has, anyway) but i don't mind an older car.

Any suggestions?

Phil
 
To be honest mate, if you want a really cheap car which is also going to be half decent, then you need to get something which has zero market appeal. Something like an old mid sized ford.

I wont say the actual word :p

Just going through the motions of the contracts now for a house for myself as it happens, the fees making you cry yet? :(
 
206 GTI 0-60 is what, 8.4 seconds. So loads of things come under that :D

4 doors, 2 doors...mileage, transmission......any other requirements?

Eesh, thinking about that again. 8.4 seconds. What a tarnish to the GTi badge. Even a 70's Sprint is faster :p
 
Jez said:
To be honest mate, if you want a really cheap car which is also going to be half decent, then you need to get something which has zero market appeal. Something like an old mid sized ford.

I wont say the actual word :p

Just going through the motions of the contracts now for a house for myself as it happens, the fees making you cry yet? :(
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With all the touting of those "mid sized fords" around here you'd think they DO have market appeal, precisely because everyone thinks they don't.
 
Jez said:
To be honest mate, if you want a really cheap car which is also going to be half decent, then you need to get something which has zero market appeal. Something like an old mid sized ford.

I wont say the actual word :p

Just going through the motions of the contracts now for a house for myself as it happens, the fees making you cry yet? :(
Click to expand...

Solicitors fees? I'm fortunate enough to be a first time buyer, buying a brand new house, so no chains at all, its quite a quick and relatively cheap (compared to most) process so far :)

Not bothered about it not having appeal, actually would probably suit me more :)
 
I can't imagine you'd save much, especially at the moment. How much do you think the 206 is worth? Is it really worth the hassle of changing?
 
andi said:
I can't imagine you'd save much, especially at the moment. How much do you think the 206 is worth? Is it really worth the hassle of changing?
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Could well not be worth selling to change, however if i can get top whack for it, and limit my budget to say £1k, £1500 max, it means i'll have an extra grand or two for home improvements/additions.

I don't need to do it, its not a necessity, just something i've been thinking about whilst browsing catalogues *cries* ;):D
 
Older/high mile Xsara VTS's come in at under a grand now. £1200-1500 will buy a not too leggy example.
 
Phil W said:
Solicitors fees? I'm fortunate enough to be a first time buyer, buying a brand new house, so no chains at all, its quite a quick and relatively cheap (compared to most) process so far :)

Not bothered about it not having appeal, actually would probably suit me more :)
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Solicitors fees being one element, i was more meaning mortgage arrangement fees, stamp duty, and all of the disbursements which the solicitors will sting you with. Think my total bill is going to hit about £3500 :(

Ive given the cheap car thing some thought myself, i'd probably buy an old E39 or E38 BMW should i need to raise some capital quickly, possibly an old old shape V6 S-class (but then i like large cars). A couple of grand and the world is your oyster with older models of these. If you want cheap to run into the mix too, then go for a Mondeo. I know its a cliché but they really are good cars :/
 
Jez said:
Solicitors fees being one element, i was more meaning mortgage arrangement fees, stamp duty, and all of the disbursements which the solicitors will sting you with. Think my total bill is going to hit about £3500 :(

Ive given the cheap car thing some thought myself, i'd probably buy an old E39 or E38 BMW should i need to raise some capital quickly, possibly an old old shape V6 S-class (but then i like large cars). A couple of grand and the world is your oyster with older models of these. If you want cheap to run into the mix too, then go for a Mondeo. I know its a cliché but they really are good cars :/
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Well the house is under the £125,000 which means no Stamp Duty :) I've got a survey to pay for, which is a couple of hundred quid, and my mortgage fees are being added to the mortgage itself (around £1k iirc), so i think all in its around just under £1k upfront to get the keys :)
 
Have you worked out how much those fees are actually going to cost you? HSBC offered to do the same with the £600 arrangement fee, but it didn't seem worth increasing the borrowing. If i were you i'd try and raise the cash and just pay it off, but then i don't know what your overpayment facility is going to be like. :)

Out of interest, what have you managed to find up there for that money? One massive disadvantage of living in Oxfordshire is that the £125k limit doesn't get you anything. Sucks :(
 
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Id try and keep it if you can, you know the car and know its runs fine but you could buy a cheaper can and find you have to start spending money on it right at the time when you least need it.
Also it may be a while before you can afford to buy some thing decent again when those bills start to come through the door :(
 
Jez said:
Have you worked out how much those fees are actually going to cost you? HSBC offered to do the same with the £600 arrangement fee, but it didn't seem worth increasing the borrowing. If i were you i'd try and raise the cash and just pay it off, but then i don't know what your overpayment facility is going to be like. :)

Out of interest, what have you managed to find up there for that money? One massive disadvantage of living in Oxfordshire is that the £125k limit doesn't get you anything. Sucks :(
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The basic jist of it was to add the fee's to the mortgage, so that if anything fell through, i'd not have to pay £1k or so and not have a house to show for it. Now that the situation is different, i'll probably enquire about paying it upfront to forget about it, even though the difference in montly payments is negligable.

Its a brand new 3 bed semi, offroad parking (2 spaces) but no garage.

Overpayment is up to £1000 a month IIRC, which i wouldn't be anywhere near, but i haven't budgeted overtime into the equation, so anything that i earn over and above my basic wage i can either bank/save or pay some off.
 
Attu90 said:
Id try and keep it if you can, you know the car and know its runs fine but you could buy a cheaper can and find you have to start spending money on it right at the time when you least need it.
Also it may be a while before you can afford to buy some thing decent again when those bills start to come through the door :(
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Another reason to keep it, even though people seem to think they're not, its actually a very reliable car.

I think i'll probably end up keeping it for 6 months to see how i get on with it, seems silly keeping something that i hardly every use, however.
 
Phil W said:
The basic jist of it was to add the fee's to the mortgage, so that if anything fell through, i'd not have to pay £1k or so and not have a house to show for it. Now that the situation is different, i'll probably enquire about paying it upfront to forget about it, even though the difference in montly payments is negligable.

Its a brand new 3 bed semi, offroad parking (2 spaces) but no garage.
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Woah, sounds excellent. Bet you are really excited :) You are right about the removal of risk of the arrangement fee, im feeling very nervous about it myself.
 
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