Car (money) dilemma

[raf_gti]

As you may have seen recently I've posted several 'What Car' threads recently, all with various different budgets, now far from being a dreamer they are all genuine but all based on a cash or finance purchase.

So my dilemma is this. I currently toodle about in a '99 Puma which is a fantastic little car but ebing honest could do with about £500 of suspension work to make it feel fresh again.

OR

I could trade the Puma in for ~£1k, stick some extra money in and come away with a potentially ropey 306 GTi, Alfa 156 etc for £2k, this will give me a new car to play with but more than likely require at least the same amount of work as the Puma.

OR I could trade the Puma in, take out a small amount of 'tick' and come away with a £4k car, this would see me in an Accord Type R, bugeye Impreza or something else fairly decent with not quite rocket ship milage!

OR

I could take out pretty chunky finance for a £10k car, this would see me in a 147 GTA, S2000 or something else very nice, chances are I would have a warranrty but the extra monthly payments would cancel out potential repair bills. Another downside is that it would be far harder to change cars due to having to clear finance.

I'm mainly posting this as a 'think aloud' topic but would welcome any contributions!

ps I do ~15k PA so it is not a seldom used car.

[Dick_Phallus]

Have you thought of getting a nice horse?

[farrendahl]

If it were me I would be going with the middle option, it's the happy medium ground, still not ideal but a better option than the 10k on finance option

[goldblum]

Just decide which car you really want,ok?

[entwisi]

500 notes on the Puma as a DD and then 8K on a weekend toy for high days and holidays.

benefits of both an economical and care free DD and something that doesn't have to be particularly economical that you are proud to be seen in....

[aww999]

The £10k finance option is tempting to those of us with more enthusiasm than cash! Whenever I get the itch for something more expensive than I can afford, I try to work out how much it will end up costing me in total, and how much it will be worth when I finish paying for it. The cost of finance + depreciation on such vehicles has always bought me back down to earth with a bump, even if the repayments are manageable!

[raf_gti]

entwisi said:

500 notes on the Puma as a DD and then 8K on a weekend toy for high days and holidays.

benefits of both an economical and care free DD and something that doesn't have to be particularly economical that you are proud to be seen in....

A nice thought but I've had a 2nd car in the past and the lack of use that it gets makes it very hard to justify the extra cost, perhaps in a few years time when I have more money

[havoc]

Given the current RPI and comparative lack of salary inflation, together with expected rises to all manner of taxes and charges, now is probably NOT the time to commit yourself to a lot of debt (says the man buying a bigger house) unless you've (a) got a fair amount of spare income; or (b) are expecting a promotion soon.

I'd suggest (a) or (b) - (a) is a known quantity, which makes it lower-risk; while (b) will be more exciting and new, but any £4k performance car brings with it risks.

[Jasandjules]

Why not get a car for say 5k on finance, which should then allow you to have a bit of cash left over just in case it goes wrong - after all, you can never be 100% certain that a car won't break down or that a guarantee will hold water..

Soo, an MX-5 or MR2? At least you can get the roof off too..

ETA - or go for 6-7k and get a Chimaera... You know it makes sense....

Edited by Jasandjules on Wednesday 21st July 21:09

[raf_gti]

Jasandjules said:

Why not get a car for say 5k on finance, which should then allow you to have a bit of cash left over just in case it goes wrong - after all, you can never be 100% certain that a car won't break down or that a guarantee will hold water..

Soo, an MX-5 or MR2? At least you can get the roof off too..

Unfortunately the MX-5 (mk2) is a bit on the small side for me, I had a drive in it at the start of the year and it was just too cramped for me

And the Mk 3 leads into the 10k on finance dilemma!

[Jasandjules]

TVR Chimaera it is then!!

[CaptainSlow]

I'd get an Audi A3 S Line if I were you.

[frosted]

"tick" 4k and get yourself the car you want .

[iain014]

Get something rare/interesting that will hold its value like an Elise, porsche 968 or maybe the 147gta that you mentioned.
Then if circumstances change and you need your money back, you should get back every penny of what you paid, if not more. Dont do a pcp though, use low rate hp/personal loan, or an interest free credit card, that way you can "get out" whenever you want.

[r1ch]

If you like the Puma i'd just freshen up the suspension and save your £££.

[raf_gti]

CaptainSlow said:

I'd get an Audi A3 S Line if I were you.

Or I could get a mapped 335d

Or an MX-5

Or even a v6 Passat 4motion

[CaptainSlow]

raf_gti said:

CaptainSlow said:

I'd get an Audi A3 S Line if I were you.

Or I could get a mapped 335d

Or an MX-5

Or even a v6 Passat 4motion

hmm yeah if you can find one, very rare and desirable cars.


eta
The £4k MX-5 option is a good call though, would be able to get a mk2 Anniversary model with hard top for that.

Edited by CaptainSlow on Thursday 22 July 08:51

[trickywoo]

iain014 said:

Get something...that will hold its value...maybe the 147gta

[cv01jw]

r1ch said:

If you like the Puma i'd just freshen up the suspension and save your £££.

I would go for this option too.

[The Lukas]

I would avoid finance in most respects, get/keep a runabout untill you have sufficient funds to buy a car you're happy with without all that commitment. At least keep it minimal. Sorry to be a party pooper but that's just the way I see it.