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General Chat Thread, Have you ever bought a car on finance? in General; My Astra is still serviceable though getting on and after looking around at cars I noticed a local garage down ...
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    CAM
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    Have you ever bought a car on finance?

    My Astra is still serviceable though getting on and after looking around at cars I noticed a local garage down the road is doing one of those 0% 5 year finance deals on new Astra GTCs. Has anyone ever bought a car using these deals and did you have any hassle?

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    Quote Originally Posted by CAM View Post
    My Astra is still serviceable though getting on and after looking around at cars I noticed a local garage down the road is doing one of those 0% 5 year finance deals on new Astra GTCs. Has anyone ever bought a car using these deals and did you have any hassle?
    ~5500 deposit and ~200 a month for 5 years

    No thanks...

    Rob

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    CAM (19th October 2013)

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    Bought an Audi on finance few months back. Shop around to get the best deal and always get the details in writing. Had a issue with my previous car where the sales guy offered extras but never had it in writing. I cancelled the finance when they wouldn't offer the deal.

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    Have you ever paid cash for one? - You get treated like a criminal nowadays, Investigated for money laundering and all sorts.

    There is no such thing as a free lunch even 0% will have some limiting factors. They will want to earn near the 4.6% mark in other ways.
    Will you own it outright after 5 years or is there a bubble to pay? This is where these deals can bite you.

    According to Rob, your looking to pay 17.5k over 5 Years on this deal!!

    Well, we just bought a brand new Fiesta 1.6 Titanium Auto with all the toys, DAB, BT, AC, Sync, MyKey, Boy Racer ST style Body Pack well over 17.5k list and came away with it discounted to 12.5k but on Ford Finance, as it was the only way they would sell it to us that cheap!

    We then made one re-payment then cancelled the credit agreement (Ford Credit) and paid the balance off by debit card over the phone with no penalties.

    So check the finance package (carefully) get the base price down to the minimum and see what the early settlement options are on Vauxhall Finance.
    You may be able to do something similar with GMAC as the manufacturers own finance packages are more flexible as it all about shifting boxes where external finance is all about making money out of thin air.
    You can settle the original finance package on the hugely discounted car with one from elsewhere such as Zopa if it fits.

    Cash is still king, as long as you have some balls to take these dealers on especially at the end of the month when they have had a bad week!

    I have done this type of thing on the last 3 cars we bought and as a result the average cost of motoring including the depreciation and repairs has averaged just 20 pw

    I would secure Finance elsewhere first even if you don't actually intend to use it. Go in there all guns blazing and refuse to leave until they meet your demands.
    It works honest!

    I might even be able to off load the Fiesta next year at a profit!

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    CAM (19th October 2013), zag (21st October 2013)

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    CAM
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    Cheers for the responses, just been down the dealership and decided it is a bad idea anyway. For one there are used GTCs a year old at almost half the price of brand new. An 09 Hyundai Coupe that has been there a while has also caught my eye at 7 grand which got as far as a test drive so I don't think I'll be dropping money on a new car seeing that.

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    Back in the early 70s I bought one on finance and even though it wasn't a big heap of money then the payments seemed to take forever to end. Also the heap was depreciating in value every day.

    Wifey recently took my 19 year old car shopping and came back full of he joys having purchased one on finance. The seemingly reputable Fiat dealer promised to send the finance documents on as they couldn't print it then and there.

    Long and the short of it the promised paperwork never arrived and wifey went to the dealership a few months later to query why. She then received the paperwork and nearly fell through the floor when she realised what she had signed up to. 8K car is going to cost a further 3K by the time she has paid for it.

    I wanted to kick off about it but her indoors wouldn't.

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    I've had company cars, leases on PCP, HP, and financed it through the bank, and the only way I'll go in future ideally is outright purchase or HP. Stung too many times in too many ways on the others.

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    I think anyone wanting to buy a new no-frills car on a tight budget should take a look at Dacia, a company owned by Renault. They are very popular in mainland Europe. Prices start at just under 6k including a 3 year warranty.

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    Quote Originally Posted by broc View Post
    I think anyone wanting to buy a new no-frills car on a tight budget should take a look at Dacia, a company owned by Renault. They are very popular in mainland Europe. Prices start at just under 6k including a 3 year warranty.
    Thats for the petrol, add 2.5K to the price for the diesel

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    Quote Originally Posted by twin--turbo View Post
    Thats for the petrol, add 2.5K to the price for the diesel
    Not everyone wants diesel...... you need to do the sums to see if diesel is right for you.

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    Merc c220 09 plate. Value - around 30,000 (at the time), Deposit - something around 5000 - 6000, Payments per month - around 600 a month for 4 years

    May have been a lil more, but i put about 100 - 200 on top per month when i could
    Last edited by Sunnyknight; 21st October 2013 at 08:18 AM.

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    Quote Originally Posted by broc View Post
    Not everyone wants diesel...... you need to do the sums to see if diesel is right for you.
    If I am doing figures I would not buy any new car, and very unlikly a one that's 2.5K more than it's petrol equiv and likly to depreciate that value very fast.

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    Quote Originally Posted by Sunnyknight View Post
    Merc c220 09 plate. Value - around 30,000 (at the time), Deposit - something around 5000 - 6000, Payments per month - around 600 a month for 4 years

    May have been a lil more, but i put about 100 - 200 on top per month when i could

    I had a C230, cost me 200. Did 1500 miles and sold it for 600.



    and the 09 plate is now only worth about 12K
    Last edited by twin--turbo; 21st October 2013 at 08:39 AM.

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    Quote Originally Posted by twin--turbo View Post
    I had a C230, cost me 200. Did 1500 miles and sold it for 600.



    and the 09 plate is now only worth about 12K
    Yep i know. Looking for a project car, so i'm looking at a 07+ rx8 / veilside rx7. They're cheap, but finding a good condition with hardly any surface rust, and someone who looks after the engine is hard. If i can't find a nice one, then puh puh pump it up on the Skyline r34 gtr vspec 1 / 2 / Skyline r33 Gtr

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