what next...

[Oakesy2001uk]

As you may remember after various threads I decided I was looking at either a celica 190 or a clio sport.

Now I have a new conundrem that Id like you guys to take a look at. basically I have a big loan due to bad luck and college stupidity. it was 14k over 4 years (I dont mind sharing) and I have paid 8 months so far. This was a culmination of the loan on my car a bit of bad luck and a bit of stupidity.

The way I see it its either go with one of the above cars as I can afford my loan, its not getting me in any trouble and the interest rate is 7%, or sell the focus for about 5 to 5.5k, and pick something up for about 1.5k then just get paid off ASAP. The reward at the end being me debt free and can have any car I want (within reason obviously).

I know there is going to be differing opinions on this but advice and opinions are what I'm after.

Summary..
Option 1 - keep focus for 3.5 years (only 1.6 get bored with it, not really econamical either but handes great and looks nice, slightly modified)

option 2 - sell focus put loan back up to 4 years, start again and have a nice car (I can afford it just dont know if I want to)

Option 3 - sell focus, get a relative shed for about 1-1.5k and re do the loan over 2 years using the left over money. In which case what car, was thinking along the lines of a 1.8 16valve clio, I had a 1.4RT and it was a decent car.
Im 20 with 3years NCB (half way through that policy).

 

[Scottland]

Option 3 IMO.

It doesn't have to be a shed either for £1500, just nothing that new.

If you want something to stop you getting bored, something like a 106 Rallye might do? Or as you say a Clio valver.

 

[Acolyte]

Option 3 for sure, clio 16v are quality cars, you can pick up a mint of for £1500.

 

[Jonny69]

Option 3, then spend a grand on a really cool retro motor that can be modified for next to nothing. It could be the best laffs you ever have on the roads over the next two years

We're talking classic Mk1 Fiesta, granny spec 957cc, junk the engine for a 1700cc crossflow with Webers, XR2 brakes, RS alloys, pair of Cobra bucket seats, Momo wheel etc. I bet you could do all that for about £1000 with the help of the mighty eBay

 

[lozza23_uk]

Option 3 for sure, clio 16v are quality cars, you can pick up a mint of for £1500.

you can get a lot of car for 1500 quid now.

my mondeo was 1200. p reg (old I know) with 80k on the clock.
done 20k this year. still going strong.
2l 16v, goes when it needs to. munches motorways. and using the posted MPG calc I get over 30mpg across a tank a fuel.

probably worth 50quid now. but who cares.

open the autotrader and just search for 2000 quid motors, price high to low. have a look at what takes your fancy and then do some more research.

dont forget 2000 turns into 1750 with bargaining power and crisp notes in a bundle in your hand.

 

[Conanius]

option 3 every time.... theres plenty of good cars you can get for 1500 quid

 

[Mr_Sukebe]

Keep the Focus and pay off your loan.
You were nailed by the biggest element of depreciation on your Focus as soon as you bought it. From now on, the actual costs of the car will not be that bad, and could be cheaper than a shed of car that might cost far more to maintain.
I certainly wouldn't recommend a bigger loan. Having outstanding large loans is actually a rather stressful thing. You probably wouldn't be asking the question otherwise. The sooner you clear it, the better you'll feel.

 

[Mad old tory]

3, if you get the right car for £1500 it will still be very reliable and the difference between that and the value of your focus will shorten the life of your loan

 

[paradigm]

Option 3 would be what my head was telling me to do.

 

[Oakesy2001uk]

thats what I was thinking. the sensible option really. insurance dosent really matter as it will be TPFT for that money. and the modifed focus only costs me £640. Just have to get mine advetised and see what happens. I hope its not worth 4.5k now but it may be, its a tastefully modified 1.6 focus. 2002 42k on the clock. limited edition with full leather all the toys. I do have the origonal parts also. Got abot 800 stereo which could go with it, so hopefully someone will bite! what reccomendations have we got for the shed then! lol
decent economy and reasonable insurance. + not going to completely fall apart would be nice.

 

[rG-tom]

option 3, you can drop to higher spec, faster, equiv age to your focus mondeo for £1500....considering it was a more expensive model when new, it's actually an upgrade and you'll be making money

Tom.

 

[Oakesy2001uk]

you can get 02 reg mondeo's with 40k on the clock for 1.5k that would be nice! lol I really dont think I need anything that big, bit of a waste do something focus sized or smaller is the order of the day.

 

[TerryWogan]

Option 3 with a 205 GTI

Short term fun and long term financial worries gone.

 

[Oakesy2001uk]

Any more Idea's providing I can get around 5k for mine this should be worthwhile, I will stick the money in a savings account and sort the loan at a later date (just in case I have a nightmare with whatever car I buy) Problem now is my heart is driving me towards the 306 GTI-6 and Clio williams route, which would take away any point in saving money with insurance and fuel costs probably. if whatever I get is a bit faster than my 1.6 focus then I wont feel like its quite as much of a downgrade! now Im being tempted by 106 gti's. hmmmm... bit over budget but wouldnt feel too much of a downgrade and would have 3k in back pocket!

 

[Oakesy2001uk]

Right, bite the bullit, car is goin on pistonheads, max power, autotrader etc... on saturday and Im looking at less than £2000 for a reasonable on fuel and insurance warm/hot hatch that aint going to fall to bits. answers on a postcard and Im more than welcoming wild card answers!

 

[Scottland]

Xsara VTS in vomit Yellow. It'll look just like Steve's M3 that way

 

[Oakesy2001uk]

I hear these xsara's gettign reccomended a lot, I know the VTS is a GTI-6 but a bit softer, whats the VTR like?

 

[ajgoodfellow]

Right, bite the bullit, car is goin on pistonheads, max power, autotrader etc... on saturday and Im looking at less than £2000 for a reasonable on fuel and insurance warm/hot hatch that aint going to fall to bits. answers on a postcard and Im more than welcoming wild card answers!

How about a Rover 200 BRM?

Well, you did say you'd welcome wild card answers

Ad on Autotrader

143bhp 1.8 VVC engine, 0-60 in 7.5 seconds. They're rather rare too, and they have updated suspension etc so should be good to drive!

 

[Scottland]

IIRC you can get the VTR with either a 1.6 or 1.8.

The 1.6 putting not as much power down as your focus, the 1.8 putting down a little more.

WRT equipment, I think you get EW and AC, not sure if you get much else.

 

[Oakesy2001uk]

I like that BRM, they have a LSD too I think. have to check insurance, and find one as I know they are rare as rocking horse poo. it is a rover tho!

EDIT - there is about 4 on trader in the country and that is by far the cheapest, so would seem a no-no