Buying new car
Comments
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Haha okay thanks for the advice mate. I'd need to keep insurance costs down though as I'm 22 so a 1.2 golf would be great for insurance purposes. I'd pay extra for piece of mind that it is not going to breakdown, a £200 car as you mention, in my opinion would be much more battered and likely to conk out! Want fuel economy to be good so again a 1.2 is perfect for me at this time.0
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Ah yes agree, but Bangernomics is an artform with which one can achieve zen. The basic concept is that you spend £200-£300 on a car, and simply run it until a) it dies, b) it fails an MOT, or c) you get bored of it. At which point you abandon it where it has fallen, with the keys in it, and a note saying 'finders keepers'.
Fuel economy is broadly academic; the car cost so little to start with that in terms of overall running cost per mile, nothing modern will come close when you factor in depreciation and interest.
Not to say I don't enjoy a decent car (current main driver is a Volvo V70R, which replaced an Alpina B3, before that a Passat R36), just that you can appreciate motoring across a wide spectrum if you don't get hung up on the whole idea of 'newest is best'.0 -
Have you done the maths?
A 9k loan over 3 years is nearly 300 quid a month. Factor in another £50 for insurance and then combine that with no warranty as its a private sale only manufactures guarantee. You also need to pay all servicing costs etc. How much will that 'asset' be worth after 3 years?
To be honest I think there is some great advice here ie buy a cheaper car.
Your call though but a car is absolute no reason to get into even more debt and 5k car is just as likely to break down as a 9k one.0 -
I've found a corsa I really like for 8k from a vauxhall dealership so can get designated car finance and its 200 a month over 30 months! So works nicely I think? Much better than a bank loan!0
