Discussion
Need a bit of advice (and somehow I think I know what you lot are going to recommend). I've got savings of about 5 grand and my 200sx is probably worth another 5. I'm managing to save close on 500 quid a month at the moment. Would you guys get a 10k loan and go buy a nice Chimaera, or carry on saving until I can buy one outright?
Put me out of my misery!
Put me out of my misery!
I had a similar problem a year ago, but made the mistake of going for a test drive. Ended up with a 15K loan.
Go for it before interest rates increase, you know it makes sense. 10K+ loans can now be obtained at about 8% APR. Try here: www.moneyextra.com/
Go for it before interest rates increase, you know it makes sense. 10K+ loans can now be obtained at about 8% APR. Try here: www.moneyextra.com/
Go ahead, get a loan and get a TVR. But don't forget you'll need to figure into your outgoings a reasonable budget for servicing....and don't forget the fuel. You'll find yourself all sorts of reasons to just go for a drive and journeys suddenly become longer as you take the 'scenic' route rather than the shortest distance between two points.
Hutch
Hutch
I am with simpo one on this never had a loan in my life (apart from mortgage and thats small and nearly gone), how many posts have I seen with "must sell due to redundancy" or similar.
My point is my cars are my cars they are never going to be sold unless I want them to be just piece of mind I guess.
And secondly having being made redundant twice I can't think of anything worse that having to sell my pride and joy at the same time, my cars are all that kept me going at those times, oh and the redundancy money that helped pay off the morgage and start my own buis at the same time.
Imho just wait a bit till mid winter until prices are through the floor and pick up a bargin, you should get an chimaera post 96 for that kind of money in december - february when the some one desperatley needs to sell, probably because they have been made redundant !!!!
My point is my cars are my cars they are never going to be sold unless I want them to be just piece of mind I guess.
And secondly having being made redundant twice I can't think of anything worse that having to sell my pride and joy at the same time, my cars are all that kept me going at those times, oh and the redundancy money that helped pay off the morgage and start my own buis at the same time.
Imho just wait a bit till mid winter until prices are through the floor and pick up a bargin, you should get an chimaera post 96 for that kind of money in december - february when the some one desperatley needs to sell, probably because they have been made redundant !!!!
Hi Prince!!
If you are going for a Chimaera you can get a really good 95/96 one for between £14 - 15 K's.
It depends on what the dealer will give you for your 200. If you go private you will have the added problem of selling your car and making sure that you are getting a straight Tiv. So if you do have £10k it will take you approx ten months to save. You will also need a few quid put aside for any unexpected extra spends. At the moment you can get some really great deals on loans , as low as 7% over the net! What ever you do , don't get the finance secured against the car or on your property. If you do decide that you want the car now get a personal loan.
One final thought , now is the time to buy as we are comming to the end of the season ( such as it was) and the prices over the next couple of months should see some good offers on line.
Hope this helps.
At the end of the day it's your choice and you will get an overload of advise .
>> Edited by sps on Sunday 1st September 10:47
If you are going for a Chimaera you can get a really good 95/96 one for between £14 - 15 K's.
It depends on what the dealer will give you for your 200. If you go private you will have the added problem of selling your car and making sure that you are getting a straight Tiv. So if you do have £10k it will take you approx ten months to save. You will also need a few quid put aside for any unexpected extra spends. At the moment you can get some really great deals on loans , as low as 7% over the net! What ever you do , don't get the finance secured against the car or on your property. If you do decide that you want the car now get a personal loan.
One final thought , now is the time to buy as we are comming to the end of the season ( such as it was) and the prices over the next couple of months should see some good offers on line.
Hope this helps.
At the end of the day it's your choice and you will get an overload of advise .
>> Edited by sps on Sunday 1st September 10:47
'So you have a £10k deposit? That and 47 months at £485.00 plus a final 48th month of £8750.00, should get you a £35k TVR (APR 9.9%). That puts you in the used Tamora/Tuscan marketplace?'
So four years later, having shelled out £41,545 for a car that actually cost £35,000, you then find it's only worth £25,000 due to depreciation. You lose £16,545, even assuming you don't get stung for a balloon payment.
Depends how much can you afford to lose...
So four years later, having shelled out £41,545 for a car that actually cost £35,000, you then find it's only worth £25,000 due to depreciation. You lose £16,545, even assuming you don't get stung for a balloon payment.
Depends how much can you afford to lose...
Don't understand the 'don't get a loan to buy it, cos if you're made redundant you'll have to sell it' type posts. At least he will have had one - might save up for a couple of years & be made redundant & have to use those savings anyway.
Go for it now. Money's never been so cheap to borrow.
This advice provided to you by a man with no car loans..... (but 3 mortgages
)
Go for it now. Money's never been so cheap to borrow.
This advice provided to you by a man with no car loans..... (but 3 mortgages
)I can definitely recommend the flexible loan that Cahoot offer. If you're good with finances (i.e. managing cash flow), you can pay your salary in at the beginning of the month and take out what you need as and when. Interest rate is relatively low... they also have the benefit of being able to open up to 3 current accounts each with an interest/charge free overdraft of £250... reducing your loan even further.
Draw up a budget for the duration you think you'll have the loan, adding in some extras for unforseen expenditure... and you'll be laughing... better still grinning from ear to ear in your Chimaera!!!
MC
Draw up a budget for the duration you think you'll have the loan, adding in some extras for unforseen expenditure... and you'll be laughing... better still grinning from ear to ear in your Chimaera!!!
MC
Before I get flamed this is only my opinion, so :-
TVR’s are about power and passion, you buy and drive one because your heart say’s you must.
If you stop to think how much it’s all going to cost then maybe these are not the cars for you.
I would recommend you borrow as much as possible, buy as new as possible and sod tomorrow.
Back in the real world, ask your wife and if you ain’t got one forget this comment.
Cheers,
Simon.
TVR’s are about power and passion, you buy and drive one because your heart say’s you must.
If you stop to think how much it’s all going to cost then maybe these are not the cars for you.
I would recommend you borrow as much as possible, buy as new as possible and sod tomorrow.
Back in the real world, ask your wife and if you ain’t got one forget this comment.
Cheers,
Simon.
Someone mentioned avoiding a secured loan ... there may be some technical reason for this, but otherwise I don't understand that at all. If you have a mortgage and you can increase it to raise whatever cash you need for the car, then this will doubtless be by far the cheapest way of borrowing the money. Even if you can get an unsecured personal loan for a car at 7 or 8%, you can get a mortgage for 4%. Say inflation is at 2%, then in real terms the car loan is 3 times more expensive than the mortage.
If you want to do the sensible thing then ....
f
k off and stop bothering us
If you want to turn up at work each morning with a grin like you've just won a coke snorting contest with Daniella Westbrook, go buy a tiv
Don't believe anyone that says they're cheap to run, I work 2 miles from home and do the commute in between 3 and 4 minutes (lucky I know). But I used nearly 1/4 tank of optimax this morning (and turned up 1/2 hour late much to the annoyance of my boss)
Why ? Because it's sunny and I took the scenic route (35 mile round trip)
My only regret....why didn't I do it sooner
f
k off and stop bothering us If you want to turn up at work each morning with a grin like you've just won a coke snorting contest with Daniella Westbrook, go buy a tiv
Don't believe anyone that says they're cheap to run, I work 2 miles from home and do the commute in between 3 and 4 minutes (lucky I know). But I used nearly 1/4 tank of optimax this morning (and turned up 1/2 hour late much to the annoyance of my boss)
Why ? Because it's sunny and I took the scenic route (35 mile round trip)
My only regret....why didn't I do it sooner
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