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Car buying advice - cutting costs

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mdesign

Original Poster

4 posts

1 month

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Tuesday 14th May

Hi all, long time reader first time poster.

I am unfortunately having to cut costs and this means getting rid of my current car for something cheaper. My current car is on a hire purchase, but unfortunately I have to cut back on my expenditure. I currently have a C Class, 20 plate. From what I gather I am in positive equity by a little amount, give or take a couple of hundred quid, and I am 32 months into my agreement so just past the halfway stage so VT potentially an option but the car does have a few cosmetic issues (bumper scuff that needs repainted, for example). Although I appreciate during any trade in they'd probably offer less than what's remaining on the finance, but I can navigate around that when it comes to doing a deal. The car is fine, no mechanical issues or anything.

My plan is to have the cheaper car for a year, possibly two, then I'll potentially get a newer car - but that will be decided nearer the time as obviously things can't be predicted too much. By cheaper, I mean less monthly expenditure. That would include the finance payments and insurance, and possibly maintenance/fuel etc.

I appreciate I can't be too picky in a sense with what I'd like considering, but here's a list anyway. I have set 3 different budgets - at varying price ranges so I can get an idea of what I could have.

Things I'd like:

Decent boot space and general space - not a fan of hatchbacks. Saloon/SUV maybe?
Leather seats
Car play, or at least the ability to play music through Bluetooth
Auto lights but can live without
Good MPG
Reliable (appreciate there is an element on unpredictability with any used car)
Automatic
2L engine - based on my experiences this seems to be the sweet spot for mpg/fun. Always wanted to drive a 3L V6, but that might have to wait for a couple of years.
Fuel wise - I have always had diesel cars, as I do about 12-15k a year and a good whack of long distance driving.

Budget: £12-14k, £9k-12k, £5k-9k

Each of these separate budgets have varying degrees of monthly savings but any of them put me in a better spot, although I guess cheaper the better technically but I'd be comfortable with the top end.

Keeping my current car is not really an option.

Thanks in advance

Edited by mdesign on Tuesday 14th May 19:31

ZX10R NIN

27,794 posts

127 months

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Tuesday 14th May

I'd say if you want to cut your costs then cut them & then move forward.

So I'd go for one of these, they're ulez compliant, you can add carplay/android auto:

https://www.autotrader.co.uk/car-details/202403207...

Or it's smaller brother that uses the C Class drivetrain:

https://www.autotrader.co.uk/car-details/202307049...

Mad Maximus

393 posts

5 months

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Tuesday 14th May

Your going to do what your gona do but my advice would be to get off the treadmill and buy a car. Save the monthlies and make do with a good quality reliable shed until you can afford the big monthlies again but then when you realise you saved so much stay off it.

Mad Maximus

393 posts

5 months

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Tuesday 14th May

bmw 330i auto saloon e90 would be my money. Cheap enough, the engine you want, economy is not as good as diesel but not far off plus you’ll have massively reduced outgoings anyway. With a bit of tlc they’ll have no trouble doing the miles.

kiethton

13,961 posts

182 months

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Tuesday 14th May

Mad Maximus said:

This, get a mondeo for £2-4k cash (or small loan if you don't have it). Will meet most of the criteria

Summit_Detailing

1,920 posts

195 months

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Wednesday 15th May

kiethton said:

This, get a mondeo for £2-4k cash (or small loan if you don't have it). Will meet most of the criteria

100% this ^

Buy a Mondeo, Insignia, Accord, Avensis or Mazda 6 with the best service history you can find for >£5k.

CrippsCorner

2,869 posts

183 months

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Wednesday 15th May

Germany seems to have the answer...

Higher budget: A6 Black Edition

Middle budget: Passat GT

Lower budget: 5 Series M Sport

Pit Pony

8,924 posts

123 months

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Wednesday 15th May

Summit_Detailing said:

100% this ^

Buy a Mondeo, Insignia, Accord, Avensis or Mazda 6 with the best service history you can find for >£5k.

Agreed.

In 40 years of motoring, we have only every spent more than 5k 4 times.
Mostly we have made a £2k car last 3 to 8 years, although I have had a period of extreme shedding where £40 on a mk2 cavalier Sri lasted me 4 years. And a £525 3.2 MV6 omega lasted me 5 years.
Current cars both cost more than £5k and now are not worth half that. Imagine the repairs I could have funded rather than pay thd depreciation.

mdesign

Original Poster

4 posts

1 month

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Tuesday 21st May

Thanks all for suggestions.

I think I have settled on a Tucson, which I can get for the mid budget.

ThingsBehindTheSun

374 posts

33 months

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Tuesday 21st May

Is changing to another car for a year or two and then swapping that for a newer car really going to save you any money in the long run?

Unless you are going to swap it for a sub £5K car and keep it until it dies I really cannot see how this is going to save any money overall?

mdesign

Original Poster

4 posts

1 month

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Thursday 23rd May

ThingsBehindTheSun said:

Appreciate your thought but ultimately I just need to save a couple hundred a month for a while to tidy a couple of things up and save a little more. Changing my car is the easy target to do that.

twokcc

841 posts

179 months

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Thursday 23rd May

mdesign said:

Appreciate your thought but ultimately I just need to save a couple hundred a month for a while to tidy a couple of things up and save a little more. Changing my car is the easy target to do that.

Could you not pay off hire purchase balance by using a zero percent credit cardVirgin have a zero interest card with 3% fee for 27 months.
So if borrow say £10k will borrow £10300 but payback 1% per month i.e £103 per month for first month which reduces each month so £101.97 second month until end of 27 months.
so still a balance to pay at end of 27months.
If not actual HP but lease dont know if can pay balance)or reduce it_
If want to know how to pay balance off can explain how to do this via a balance transfer

georgeyboy12345

3,573 posts

37 months

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Friday 24th May