How do you pay for your car?
- Thread starter Bromhead
- Start date
I will definitely look at a 318 for my next car instead Fox, thanks. Choice this time was determined not by specs, but insurance. As a second year driver, the insurance difference between by 316 and 318 was double the price
Hopefully Year 3 of driving will be a lot better, though I'll only be 24. Year 4 of driving is when I expect insurance to be more affordable with 3 Year NCB and being 25.
If you live in a decent area maybe. I'm 25 now with 5 years NCB and my quotes are still pretty high compared to friends in better areas. Faster cars are at least insurable though now.
Cash, but certainly not adverse to using credit if it is either more economical / convenient or gets me something specific I want. I get a car allowance and now that I'm on the 'paid for' ownership ladder tend to save towards the next car.
Looking at the 2.2 diesel civic EX model, I do around 17-20k a year now and my falling apart 1.7 petrol ford puma with 131k on the clock is vastly turning into a money pit
MOT is in 5 months and it will fail, cam belt over due so got 5 months to think about my next car really.
Looking at the 2.2 diesel civic EX model, I do around 17-20k a year now and my falling apart 1.7 petrol ford puma with 131k on the clock is vastly turning into a money pit
MOT is in 5 months and it will fail, cam belt over due so got 5 months to think about my next car really.
If you want a specific car have a quick check of the deals to make sure there's nothing particularly appealing out there but then just go buy one. Consider PCP if that floats your boat.
As I mentioned before you can't really have a specific car in mind if what you want is a cheap lease.
BTW the new civic is pretty horrible inside and out, with nothing about the drive to make up for it compared with the previous car - that's coming from a happy owner of the previous model.
I'd far sooner have the likes of the new Ceed or astra coupe
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Its the older one I am after not the new one, I agree the new one looks pants
Its the older one I am after not the new one, I agree the new one looks pants
Ah ok, you can't generally lease used cars so go buy one I guess - make sure it's got a full history (a real full history, not some random garage stamping it every now and then), has had a recent clutch & flywheel and is wearing proper tyres... happy days.
I am thinking of buying my next car using my civic as the main chunk of it.
the money from selling the mods off my civic should fund around £1000 towards it.
then maybe look at finance for the remainder but using quarterly bonuses to accelerate paying it off.
previously all of my other cars have been paid in full. But I am not so sure with the next one what would be best.
car loan? some places dont tend to loan on 5+ year old cars
or just a standard bank loan/credit card if its only a few grand.
undecided.
will probably wait until early next year anyway as 6 months time will be a crap time to buy an S2000 anyway.
the money from selling the mods off my civic should fund around £1000 towards it.
then maybe look at finance for the remainder but using quarterly bonuses to accelerate paying it off.
previously all of my other cars have been paid in full. But I am not so sure with the next one what would be best.
car loan? some places dont tend to loan on 5+ year old cars
or just a standard bank loan/credit card if its only a few grand.
undecided.
will probably wait until early next year anyway as 6 months time will be a crap time to buy an S2000 anyway.
I've a bank loan for the civic, before that I was always on dealership finance which was such a pain trying to change car as you had to pay a massive premium to get out. I got screwed royally getting out of my clio contract. Now I can change car whenever I want as the loan is unsecured so I can keep the money from selling my car and use it to fund whatever I fancy. Ironically tho the civic is probably the best mix of performance and practicality for me at the minute so I'm unlikely to change it soon.
Nope, he should have taken the 9% APR finance, because of course he could win at the stock markets and make multi-bagger returns. It's easy.
All my cars have been cash, I hate the idea of owing money and interest rates are so sucky you can't win with finance really.
I don't think I'll ever borrow to purchase a car, simply because they lose money (unlike a property) and I'd consider most cars to be a 'want' and not a 'need'. If the worst came to the worst I've have no problem driving around in a £1k car paid for by cash to get me from A to B.
I don't think I'll ever borrow to purchase a car, simply because they lose money (unlike a property) and I'd consider most cars to be a 'want' and not a 'need'. If the worst came to the worst I've have no problem driving around in a £1k car paid for by cash to get me from A to B.
Cheap cars paid cash. All of these have been less than £5k.
Financed the Hyundai ($26k) and put just under 25% down. Needed to take a loan which used the car as security as banks are unwilling to lend to non permanent residents on an unsecured basis.
Given the choice I'd rather have the money in the bank and pay interest on a loan, than no money and a paid off car. If a situation arose where you needed the money quickly then you have it, for example medical bills here or if I had a family issue and needed to buy multiple flights back to the UK.
The repayments are low enough not to have to worry about it, but it would have taken a year of saving to pay cash when we needed the car straight away.
Financed the Hyundai ($26k) and put just under 25% down. Needed to take a loan which used the car as security as banks are unwilling to lend to non permanent residents on an unsecured basis.
Given the choice I'd rather have the money in the bank and pay interest on a loan, than no money and a paid off car. If a situation arose where you needed the money quickly then you have it, for example medical bills here or if I had a family issue and needed to buy multiple flights back to the UK.
The repayments are low enough not to have to worry about it, but it would have taken a year of saving to pay cash when we needed the car straight away.
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Bank loan here for our TT. £12k over 5 years. I generally find depreciation runs in line with the remaining amount on the loan so when I come to change and the car for example is worth £8k, I'll owe around £8k, hopefully abit less.
Nothing wrong with responsible lending in my eyes.
Nothing wrong with responsible lending in my eyes.