G/F needs advice

[mOdO]

She currently drives an N reg Micra which could sell for ~£300.

She has £1500 to buy a car, however she doesn't mind using that as a deposit and financing car x for ~£120 for 36 months.

She's not fussed about what car but it needs to be small (polo size).


What would you advise?

 

[mattyprice4004]

What's up with the Micra? Seems to fit the bill.

 

[mOdO]

Clutch is on its way out and she wants an upgrade.

 

[Brookert]

Fiesta

 

[mOdO]

Fiesta was on the list, but do you think the finance route is better for a newer car/or just a waste?

 

[Vita]

I wouldn't personally finance a car. Just buy a cheap run around, can get plenty of nice cars for £1500.

 

[blueboy2001]

Get a 12 month loan of around £1200-£1300 to give repayments of around £120 pcm.

Take that, plus the £1500 and buy a nice Mk6 Fiesta.

You won't get a significantly better car than this even if you take a finance deal for £120 x 36 months. Why tie yourself in for an extra 2 years for no real benefit.

 

[Adam]

Fiesta was on the list, but do you think the finance route is better for a newer car/or just a waste?

Only you can answer that, finance is very subjective and it depends on your personal circumstances as well as the deal you can get etc.

 

[rodenal]

You should have a look at what's around for 1500 and say 3k then see what she thinks. I dont think you'd get a substantially better car for 3k but you will get a much newer one.

If spending more you could even think about putting h the extra on a 0% card so long as you're strict eniugh to ensure repayments go in as they should. Unusual to get a long I terest free period on purchases but you could use an existing card then transfer the balance for the fee -usually about 2 or 3 percent. Should be cheaper than the interest on a small loan