corsasport.co.uk
  Not logged in [Login - Register]  
You Are Not Registered Or Not Logged In  

Corsa Sport » Message Board » General Chat » car finance » Post Reply

Post Reply
Who Can Post? All users can post new topics and all users can reply.
Icon:
Formatting Mode:
Normal
Advanced
Help
Insert Bold text Insert Italicized text Insert Underlined text Insert Centered text Insert a Hyperlink Insert Email Hyperlink Insert an Image Insert Code Formatted text Insert Quoted text
Message:
HTML is Off
Smilies are On
BB Code is On
[img] Code is On
Post Options: Disable smileys?
Turn BBCode off?
Receive email notification of new replies?

ljames555

 posted on 25th Aug 04 at 11:50

well i was thinking of buying a 2-3 yr old car for about 6-7k was wondering what are the average interest rates trade dealers give?


NovaGTE

 posted on 25th Aug 04 at 10:49

Its more satisfying to by a car without a loan IMO as you feel that you have worked for it and its all yours.

But on my cars depreciation has not been a problem, infact i have made money:D:lol:

BMW bought for £3250 sold for £3550
Bought White 106 for £3200 then part exed it and a few hundered for the blue 106 which i sold for £5250:D

Now paid £6500 for my type R which i reckon i could easily sell for atleast £7000:D

Did have to borrow a few ££'s of my old man for the type R but didn't like that debt over my head so payed him back asap:|


Ian

 posted on 25th Aug 04 at 10:40

Have I been doing this wrong all along or do cars depreciate if you buy them cash as well? :o


Adam-D

 posted on 25th Aug 04 at 08:17

ps i sold my car to finish off the loan
i now own a car its fully paid for
all i gotta do is service it and put petrol in it


PaulW

 posted on 25th Aug 04 at 08:12

I got my first corsa on finance 4 years ago...

Car cost £3500 then to finance, now it would of been worth about £700...

Also end up paying about 20-25%+ more than the value of the car due to interest, etc...


Bart

 posted on 25th Aug 04 at 08:11

quote:
Originally posted by Adam-D
i got a loan to get my car
they depreciate that fast its never worth it

best off saving up


Yep!

I saw a program once where JayZ bought a brand new 300k bentley, which depreciated 100k in the first year!

You'll easily loose a few grand in the first year or two, youer better off getting a car from a dealer that is on a 02 plate or there abouts.

Adam


Adam-D

 posted on 25th Aug 04 at 08:04

i got a loan to get my car
they depreciate that fast its never worth it

best off saving up


Teddy

 posted on 25th Aug 04 at 07:56

The interest on car finance is unreal.

If your determined to do it - Do it though a personal loan - the interest rate is much better.

The best thing you could do is not lumbar yourself with any debt at all!


Ian

 posted on 25th Aug 04 at 00:59

quote:
Originally posted by Peugeot Nut
still have the loan to pay off
Sell the car and settle the loan?


Andrew

 posted on 25th Aug 04 at 00:30

Very bad idea! Think about it, you will get fed up woth the car but still have the loan to pay off :mad:


ljames555

 posted on 25th Aug 04 at 00:29

need advice thinking of getting 2nd hand car 6k - 8k bad idea or good ? what would i be looking to pay over 3 yr or 5yr ? (a month)