Swift Help With Finance.

[Daunte]

Hey guys/girls,

I've been having my eyes on a Fiat 500 Abarth 595 Competizione 2018 plate with 500 miles for a while.

I've come here because I'm not to sure about the pricing of finance and this is where I need some help. It's £18,999 with £900 upfront and £300 PCP. I can just about keep up with all the costs like insurance etc. Is the price worth me going for it? Thanks. Visiting the car sales place tomorrow to look at it.

Edit; My income fluctuates between £400 - £1000pm depending on hours since I am a 0 hour contract. I will most likely pick up a second job e.g delivery guy for a takeaway.

Edited by Daunte on Monday 13th August 19:58

Edited by Daunte on Monday 13th August 19:59

[Mandat]

Daunte said:

Hey guys/girls,

I've been having my eyes on a Fiat 500 Abarth 595 Competizione 2018 plate with 500 miles for a while.

I've come here because I'm not to sure about the pricing of finance and this is where I need some help. It's £18,999 with £900 upfront and £300 PCP. I can just about keep up with all the costs like insurance etc. Is the price worth me going for it? Thanks. Visiting the car sales place tomorrow to look at it.

Edit; My income fluctuates between £400 - £1000pm depending on hours since I am a 0 hour contract. I will most likely pick up a second job e.g delivery guy for a takeaway.

£19,000 for a used Fiat 500 seems like a very high price. Is this the going rate?

With regard to the finance, we'll need to know a bit more about the deal, such as length of term, APR %, balloon payment to be able to make an assessment.

[Turn7]

Hmmm, this could be fun.....

[Glosphil]

Are you really considering spending between 30% and 75% of your income on buying a car!!! You're crazy.

[DuraAce]

You earn £400-£1000 per month with a zero hours contract and you intend to spend 19k on a car?!

You must be mad. Or a troll.

[Turn7]

DuraAce said:

You earn £400-£1000 per month with a zero hours contract and you intend to spend 19k on a car?!

You must be mad. Or a troll.

[Daunte]

DuraAce said:

You earn £400-£1000 per month with a zero hours contract and you intend to spend 19k on a car?!

You must be mad. Or a troll.

Nah was actually a serious question. I've legit fell in love with the car.

[James jamie]

I've got an idea my friend and you get a free company car...

https://www.bing.com/images/search?view=detailV2&a...

[Daunte]

James jamie said:

I've got an idea my friend and you get a free company car...

https://www.bing.com/images/search?view=detailV2&a...

Ah, this is unavailable in my country. Thanks though.

[Nickp82]

Don't do it OP, fair enough you love the car but spending that much of your income on it will probably mean you soon grow tired of it as you find yourself restricted on other things. You will then find yourself in negative equity and either having to stump up a lump of money to get out of it or stuck paying £300 a month for a car you don't really want anymore.
Find yourself something equally as fun/cool but for less money

[anonymous-user]

Doesn’t matter if you’re in love with it or not, you can’t safely afford it.

What happens a year or two down the line if your life has changed and you’re still saddled with the car and the repayments? You’ll be in negative equity for a good while on a PCP, and used car PCP tends to be hideously expensive in terms of interest rates.

What happens if you get less work than you’re expecting for a while?

I’m certainly not against car finance, have used it plenty of times, but I can’t say strongly enough that it would be a very bad idea.

[Daunte]

Okay, seems the big picture is NO.

Right now I'm driving a Hyundai Getz 1.3 GSI, first car. Had it for a year, and I'm just tired of it. It's not what I actually want, simply picked it up for £400, 05 plate. I'm up for suggestions if anyone has something in mind? I love nice sounding fun cars, that have a decent look. Happy enough to go on finance. Pref relatively 2016+.

Sorry if this looked like a troll post, but it genuinely isn't!

[Nickp82]

Swift Sport with an upgraded exhaust?

[DuraAce]

Daunte said:

DuraAce said:

You earn £400-£1000 per month with a zero hours contract and you intend to spend 19k on a car?!

You must be mad. Or a troll.

Nah was actually a serious question. I've legit fell in love with the car.

Ah well, if the love is legit then you should buy it.

I love the Ferrari 458 but I haven't got one because I simply cannot afford it.

If you earn £400 per month then you cannot afford a £300 per month finance payment! What about tax, petrol, insurance, repairs?
Or basics like food!

[Integroo]

I genuinely don't think you can afford to run a car on that income, especially on a zero hours contract. Never mind a 19k hot hatch.

[Edible Roadkill]

Absolute bonkers!

[Integroo]

Would a finance house even lend to you?

They really shouldn't.

[Daunte]

Integroo said:

I genuinely don't think you can afford to run a car on that income, especially on a zero hours contract. Never mind a 19k hot hatch.

I already run a car though?

[Muzzer79]

Daunte said:

Integroo said:

I genuinely don't think you can afford to run a car on that income, especially on a zero hours contract. Never mind a 19k hot hatch.

I already run a car though?

With respect, you run a £400 Hyundai, not a £19k hot hatch.

Don’t do it. The novelty will soon wear off and you’ll be hacked off doing two jobs just to run a car

[Integroo]

Daunte said:

I already run a car though?

And what percentage of income does that represent once you include insurance, maintenance, fuel...?