will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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Miss my old Corsa...
So was thinking of getting a new Corsa on Finance.
I earn around £1000 a month.
All my outgoings = £500 a month.
Leaving me with £500.
I will pay the insurance outright, I will be 21 when I get the car (if I do) and I will still have my 1 years no claims.
Dont really see what is stopping me.
I sold my corsa for 2 reasons really, 1. needed the money, and 2. it was costing me too much to run, £160 a month on insurance then things kept going wrong + the petrol.
So any advice etc? sensible reples please
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Norcy91
Member
Registered: 15th Sep 08
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One of the new Limited Edition ones? Not the quickest thing, but looks great. Cheap to insure and run, lifetime warranty and they probably do some deals on them finance wise.
If you want something quick, i'd look at a year or two old VXR so it's already taken it's big depreciation hit 
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fazza
Member
Registered: 7th Feb 08
Location: Plymouth
User status: Offline
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Vauxhall often do free insurance if your over 20
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will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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quote:
Originally posted by Norcy91
One of the new Limited Edition ones? Not the quickest thing, but looks great. Cheap to insure and run, lifetime warranty and they probably do some deals on them finance wise.
If you want something quick, i'd look at a year or two old VXR so it's already taken it's big depreciation hit
Yeah they looks sweet the new Limited Edition ones.
best site http://www.vauxhall.co.uk ?
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will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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quote:
Originally posted by fazza
Vauxhall often do free insurance if your over 20
really? Dont you need to be fully comp if you get a car on finance? Doubt they will give it for free.
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Norcy91
Member
Registered: 15th Sep 08
User status: Offline
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Get on the Vauxhall site, they're doing a 'Flexible Finance' offer at the minute. Whatever deposit you want, they give you atleast £500 towards the car, the finance can be from 24 months to 60 months and it's all 0% APR! I've just looked and they give you £750 off any new Corsa
EDIT: Here, http://www.vauxhall.co.uk/offers-finance/cars_offers/new_corsa/flexible_finance0apr.html
[Edited on 02-08-2011 by Norcy91]
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will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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It wont be until end of March 2012 I will get the car. as I need to save for the insurance as I will be paying it all outright as I dont want that coming out monthly, also I will be 21 then, dunno if it will be cheaper me being a year older?
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will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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quote:
Originally posted by Norcy91
Get on the Vauxhall site, they're doing a 'Flexible Finance' offer at the minute. Whatever deposit you want, they give you atleast £500 towards the car, the finance can be from 24 months to 60 months and it's all 0% APR! I've just looked and they give you £750 off any new Corsa
EDIT: Here, http://www.vauxhall.co.uk/offers-finance/cars_offers/new_corsa/flexible_finance0apr.html
[Edited on 02-08-2011 by Norcy91]
£2500 deposit?!! alot?
Plus I will need to save for my insurance..god knows how much that will be? 21 years old. 1 years no claims.....1.2 new vauxhall..... £2000?
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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0% finance is attractive, warranty is good, £500 discount. All sounds nice.
Major reason not to buy is it'll depreciate a lot while you own it.
Other than that it might make sense. Just don't change your mind and be left with a car that's worth less than you owe on it. As a rough rule of thumb you need to keep a new car 18 months before you start gaining equity in it.
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Norcy91
Member
Registered: 15th Sep 08
User status: Offline
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quote:
Originally posted by will_doyle
quote:
Originally posted by Norcy91
Get on the Vauxhall site, they're doing a 'Flexible Finance' offer at the minute. Whatever deposit you want, they give you atleast £500 towards the car, the finance can be from 24 months to 60 months and it's all 0% APR! I've just looked and they give you £750 off any new Corsa
EDIT: Here, http://www.vauxhall.co.uk/offers-finance/cars_offers/new_corsa/flexible_finance0apr.html
[Edited on 02-08-2011 by Norcy91]
£2500 deposit?!! alot?
Plus I will need to save for my insurance..god knows how much that will be? 21 years old. 1 years no claims.....1.2 new vauxhall..... £2000?
You can change the deposit to whatever you want it to be, £0 if you really want, but this will obviously effect the monthly payments quite alot.
Insurance shouldn't be a problem on one of them. Considering i'm 20, 2 years NCB, driving 2 years and i can insure a brand new Ibiza Cupra 1.4TSI for £650 fully comp 
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will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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quote:
Originally posted by Ian
0% finance is attractive, warranty is good, £500 discount. All sounds nice.
Major reason not to buy is it'll depreciate a lot while you own it.
Other than that it might make sense. Just don't change your mind and be left with a car that's worth less than you owe on it. As a rough rule of thumb you need to keep a new car 18 months before you start gaining equity in it.
what does depreciate mean?
After say 3 years of owning it ill not like the car anymore?
Also, say its a 5 year deal, over the 5 years, is there any chance I can upgrade the car?
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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quote:
Originally posted by will_doyle
what does depreciate mean?
Are you shitting me. You're on the fucking internet.
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will_doyle
Banned
Registered: 25th Nov 08
Location: Exeter
User status: Offline
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quote:
Originally posted by Ian
quote:
Originally posted by will_doyle
what does depreciate mean?
Are you shitting me. You're on the fucking internet.
at work. cant get on theasuras or dictionary sites for some reason, filtered!!
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BarnshaW
Member
Registered: 25th Oct 06
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this site does get better with age
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Norcy91
Member
Registered: 15th Sep 08
User status: Offline
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Depreciate is how much value the car loses from new, so probably looking at £2000 in the first year, then a bit slower the following years.
To upgrade the car in a 5 year deal you'd probably have to either hand the car back, or pay off the rest of the finance and sell the car to fund the new car. Every company has different terms and conditions on this though
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Norcy91
Member
Registered: 15th Sep 08
User status: Offline
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I've done my best to educate so far!
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Lose value.
Pay £12000 and in a year it's worth £7000.
Does this work?
http://www.whatcar.com/car-depreciation-calculator
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corsa-vxr
Member
Registered: 15th Apr 11
Location: ayr
User status: Offline
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means it will lose money over the period you will have it if you keep the car that is you will always pay more back than what the cars worth aat time of finance ie monthly repayments are usually going to make you pay more over the 5years for the car but as time goes on the car becomes less and less when time to sell it personally ad get one keep it for a couple year trade it in and get something quicker as u get older personal preference thats what id do
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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£6250 after 12 months. I was being generous 
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Lynny
Member
Registered: 3rd Jan 03
Location: oop north! Where people talk properly
User status: Offline
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Get a finance deal with halves and thirds in the contract. 5 year deal, hand car back after 2.5 years, clears off finance and you start again
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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£6250 after 12 months
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CarbonMike
Member
Registered: 30th Jul 11
Location: West Midlands
User status: Offline
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quote:
Originally posted by Ian
quote:
Originally posted by will_doyle
what does depreciate mean?
Are you shitting me. You're on the fucking internet.
FPMSL
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sc0ott
Member
Registered: 16th Feb 09
User status: Offline
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Breakdown of your out goings?
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Eck
Premium Member
Registered: 17th Apr 06
Location: Lundin Links, Fife
User status: Offline
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quote:
Originally posted by Ian
Lose value.
Pay £12000 and in a year it's worth £7000.
Does this work?
http://www.whatcar.com/car-depreciation-calculator
Seriously, don't bother Ian. If someone is seriously going to get finance without knowing what depreciation means, then hell mend them.
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CarbonMike
Member
Registered: 30th Jul 11
Location: West Midlands
User status: Offline
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Will your outgoing/incoming still be the same in xxx years time when you finially realise youve been mugged off for paying stupid money for a brand new car when you can buy a 12 month old one on finance from elsewhere for half the price?
Persoanlly I would never ever in a million years contemplate finance for a low spec car. Something like the new GTR yes, a shonky Corsa worth 20p in 5 years, erm no.
[Edited on 02-08-2011 by CarbonMike]
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