blebo
Member
Registered: 18th Apr 02
User status: Offline
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Has anybody ever done this before?
I have paid just over 2 years for my MG ZS 1.6.
It has been costing me £250 per month. Plus its not very efficent to run. I have been spending in total £400 - £600 per month just to get to my work (which is inly 10 miles away).
I am at the stage in my life when I really need an extra £400 per month on other things (saving to get married, convert attic in house etc..)
The plan is as follows:
Hand back car to finance company and cut my losses.
Get a cheap smaller new car i.e Corsa, Punto etc. costing £150 per month
New car will do 40+ Mpg
Save £400 per months
Do the things that need done to house etc.
4 years time, after using some of the money to save for deposit, get a faster car (VXR, Type r etc)
Any opinions etc.
Still have to pay 2 years at £250 per month and the cars only worth £3000 now
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JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
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cut your losses 
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Chris Bingham
Member
Registered: 30th Mar 02
Location: In Scotland
User status: Offline
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quote:
Originally posted by blebo
I have been spending in total £400 - £600 per month just to get to my work (which is inly 10 miles away).
What are you running it on? Liquid gold? I knew Optimax was expensive but fecking hell!
Running an Impreza would be cheaper than that!
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blebo
Member
Registered: 18th Apr 02
User status: Offline
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quote:
Originally posted by Chris Bingham
quote:
Originally posted by blebo
I have been spending in total £400 - £600 per month just to get to my work (which is inly 10 miles away).
What are you running it on? Liquid gold? I knew Optimax was expensive but fecking hell!
Running an Impreza would be cheaper than that!
Lets face it its not exactly got the latest technology
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Scotty C
Member
Registered: 6th Nov 05
Location: Kidderminster Drives: 1.6 16v Sport
User status: Offline
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Ur car does around 400 miles to £400-600? 
Edit: Are u sure u didnt type that wrong? 
[Edited on 16-07-2006 by Monster]
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Craigos
Member
Registered: 2nd Aug 02
User status: Offline
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quote:
Originally posted by Monster
Ur car does around 400 miles to £400-600?
Edit: Are u sure u didnt type that wrong?
[Edited on 16-07-2006 by Monster]
£1 a mile Ok
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blebo
Member
Registered: 18th Apr 02
User status: Offline
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£400 - £600 including the monthly payment
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Scotty C
Member
Registered: 6th Nov 05
Location: Kidderminster Drives: 1.6 16v Sport
User status: Offline
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quote:
Originally posted by blebo
I have been spending in total £400 - £600 per month just to get to my work (which is inly 10 miles away).
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Craigos
Member
Registered: 2nd Aug 02
User status: Offline
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quote:
Originally posted by blebo
£400 - £600 including the monthly payment
Thats better but i would cut my losses and get a cheap diesel. belive it or not i had a clio 1.9 diesel it did 50miles to £5 and that was beating that shit out of it.. you can pick them up for a few hundred.. go pritty well for a little diesel aswell.
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Craigos
Member
Registered: 2nd Aug 02
User status: Offline
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quote:
Originally posted by Monster
quote:
Originally posted by blebo
I have been spending in total £400 - £600 per month just to get to my work (which is inly 10 miles away).
Cant you see the In Total Bit
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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You've a few options, dig out the finance agreement and look at the total amount payable - ie. the sum total of all your payments. If you've contributed more than half of that then you're within your rights to request vooluntary termination.
The figure for VT should be on the agreement, but its not just half of what you borrowed as if you work it out this way you ignore the fact that a portion of your monthly payment is lost in interest.
[Edited on 16-07-2006 by Ian]
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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Still even at say £400/month for example including finance, that's quite expensive?
Working it out on that price, £250 finance + £150 petrol?
I do the same distance to work and back as you (10 miles each way), plus I use it for going to other places as well, I only spend £80 a month on petrol, and that is using Optimax as well.
My car is a 1.4 16v Astra, so should use roughly the same amount of petrol as your 1.6 16v.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
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Depends if you're on a ragga and thats the total fuel bill. I can easily spend £300pm on fuel and I work 8 miles away.
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blebo
Member
Registered: 18th Apr 02
User status: Offline
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I have passed the VT amount, I have already checked this. All it says is the car needs to be in resonable condition,
I have had the car serviced when required. Still in one piece, few dents from supermarkets but no accidents. Should be okay I think
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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Trust me I don't hang about when I drive!
But yeah I suppose it depends where else he drives to with his car etc. each week and how he drives.
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stubs
Member
Registered: 30th Jun 02
Location: Bolton
User status: Offline
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Do they normally inspect the car before accepting it back? i.e. what if it had a f*cked engine, or dings on every panel etc...
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I've done it before and they didn't inspect it. Just dropped it off with the dealer, signed a few things and left. They'll probably check the mileage though see if you hav exceeded that, and they're within their rights to send you a bill for the outstanding amount.
[Edited on 16-07-2006 by Ian]
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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Oh yeah that's the other thing Ian has just pointed out, check you haven't gone over your agreed mileage!
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stubs
Member
Registered: 30th Jun 02
Location: Bolton
User status: Offline
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Why, what's the milage limit?
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blebo
Member
Registered: 18th Apr 02
User status: Offline
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No mileage on the agreement..only done avrg miles 35K
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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It will say on your finance agreement.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Dealer should have advised you of this as well, if affects future value and therefore payments.
Unless its straight finance?
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blebo
Member
Registered: 18th Apr 02
User status: Offline
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Straight H.P. finance
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Yeah so no worries over the miles then.
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stubs
Member
Registered: 30th Jun 02
Location: Bolton
User status: Offline
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Is that the same with finance on used cars too?
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