Dave1682
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Registered: 18th Jul 04
Location: Cleveland, UK
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...for considering paying £250 a month for a brand new Corsa 1.8 SRi with full leather interior and electronic climate control???
Bearing in mind the car will do 0-60 in 8secs and reach a top speed of about 125mph. And that it also comes with cruise control and 16inch alloys.
And bear in mind that I'm part ex'ing my current car in the deal (T-reg Corsa 1.2 Sxi, 60k miles, with £1,800 outstanding finance on it)
What do you think? Overall, the new corsa comes to £13ish and i'll be paying back around 15K???
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mazdaspeed
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Registered: 8th Jan 05
Location: Darlington
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I dont like debt so dont consider finance an option. I pay everything up front cash. Saves money in the long run - interest, deposit etc all come out of your pocket end of the day.
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RCoughtrie
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Registered: 31st Oct 04
Location: East Ayrshire Scotland
User status: Offline
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quote:
Originally posted by mazdaspeed
I dont like debt so dont consider finance an option. I pay everything up front cash. Saves money in the long run - interest, deposit etc all come out of your pocket end of the day.
well said 
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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hes corsa crazy
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Dave1682
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Registered: 18th Jul 04
Location: Cleveland, UK
User status: Offline
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I unfortunately can't pay-up the full amount upfront just yet although I would like to.
It's just 13k is a lot of money for a corsa, even if it is the top-of-the range model, let alone 15k. But i so want a new car, and the performance is quite good for a gr9 insurance vehicle.
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Luke1.4
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Registered: 2nd Dec 02
Location: Blackpool
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Not everyone can afford 13k up front. finance is not such a bad thing on a car if you can afford the payments it and are in control of it. Personally though i would not pay 13k for a corsa
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CorsAsh
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Registered: 19th Apr 02
Location: Munich
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quote:
Originally posted by willay
hes corsa crazy
Number one for Corsa Discussion?
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Dave1682
Member
Registered: 18th Jul 04
Location: Cleveland, UK
User status: Offline
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For the people with loans or have got finance - what car do you drive and how much do you pay a month?
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Rob H
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Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
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Its your choice at the end of the day. If you dont mind spending £250 for 5 years (im guessing), then go ahead. If you still owe £1800 on it then you'll be getting nothing for it when part exchanging it!.
Personally unless the car you have at the moment is buggered, then I wouldnt do it. I'd pay my outstanding debt off on that, then proberbly look for a good deal on a second hand SRi thats 2/3 years old with about 20k. That'll set you back about 8k today, so if you can pay the debt off in 12 months, your looking at 7.5k for a similar car in 12 months as the new model will be out.
At the end of the day though, i dont think i'd spend anything over 8k for a corsa, be it new and top of the range or not, they simply dont hold their value in any shape or form!  .
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Dave1682
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Registered: 18th Jul 04
Location: Cleveland, UK
User status: Offline
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I still owe £1800 on my current car, but Vauxhall will take the car off my hands and clear the finance on it, and give me the SRi for £250 per month.
Rob H as you own a SRi, what are your views on it?
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Rob H
Member
Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
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Thats the thing tho, you end up with a car thats worthless, as they wont give you anything towards your new car. Seems stupid to me when you could pay your loan off for the current car in 7 months if you started paying that back at £250 a month, then save whatever else you can in the meantime towards the SRi.
I'm pleased with my car  . Had to have a couple of bits done under warranty, but its just been the usuall steering rack and gear linkage trouble. Apparently the new stuff they put on is a modified version, so it should be fine on a brand new one.
It goes well enough for a 1.4, handles pretty well for standard, looks nice for a pretty much standard car, and by spending a few quid you can make it look ace .
The thing that pisses me off is its very noisey on motorways, as the 5th gear is way too short. 4krpm @ 80mph isnt funn when driving 200+ miles  . Keep going to change to 6th, but it hasnt got one . Sadly the 1.8 is the same tho, so you'll have the same problem. May not bother you, but just thought i'd mention it .
Only other thing i'd say is that 15k can buy you alot of car, maybe not brand new, but 1 or 2 years old, and 15k buys you alot for your money....  .
[Edited on 25-04-2005 by Rob H]
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1600power
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Registered: 22nd Apr 04
Location: Shropshire Drives: 1.6 16v Sport
User status: Offline
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buy a second hand one with low miles and save yourself an easy £5k?
You can still get finance on something like that aswell as that sort of saving can be had at a second hand car dealership!
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Rob H
Member
Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
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quote:
Originally posted by 1600power
buy a second hand one with low miles and save yourself an easy £5k?
You can still get finance on something like that aswell as that sort of saving can be had at a second hand car dealership!
Exactly. Unless you get a very good deal, then it seems silly buying a brand new car, when you can save loads on one thats an ex-demo, or juat been used for 12months old. Vauxhalls are some of the worst cars for depreciation too. Take my car for instance. Some poor bastard lost £3.5k in 12 months and 9k miles. Mine still had the newcar smell though, and was unmarked  .
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AK
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Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
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taking a loan of 15k for a car that wont hold its value worth a shit is not a good idea
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
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How the hell do you have outstanding finance of £1800 on a T reg car?
I'd be getting rid of that before financing more. The car depreciates fast enough as it is, without an extra £2k worth of interest!!
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AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
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t is 99? so 5/6 years.... SXi's were about 8 tops?
say 6k over 6 years = 83quid a month
man..... thats one hell of a loan
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Colin
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Registered: 4th Apr 02
User status: Offline
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Stuff that ive said it so many times before....why get in debt over a car thats only going to lose you money!! Ive paid cash for every car I own and only thing i have on tick is my mortgage....my house however will go up in value unlike anything else!!
If you want a new car then work for it and never spend outwith your means! On other hand if £250 a month is pocket change to you then go for it....i very much doubt this tho
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JJ
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Registered: 20th Apr 00
Location: Northern Ireland
User status: Offline
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quote:
Originally posted by Rob H
quote:
Originally posted by 1600power
buy a second hand one with low miles and save yourself an easy £5k?
You can still get finance on something like that aswell as that sort of saving can be had at a second hand car dealership!
Exactly. Unless you get a very good deal, then it seems silly buying a brand new car, when you can save loads on one thats an ex-demo, or juat been used for 12months old. Vauxhalls are some of the worst cars for depreciation too. Take my car for instance. Some poor bastard lost £3.5k in 12 months and 9k miles. Mine still had the newcar smell though, and was unmarked .
Also try gettin a quote from www.lombarddirect.com too, they have a very good internet rate 6.4% apr i think, prob better than gmac (fcukhall finance) typical 9.9%
or
Defered personal loans from your bank These work same way as a lease purchase sheme that vauxhall do.
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dave17
Member
Registered: 3rd Sep 02
Location: Greater London
User status: Offline
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settle your finance on the sxi. keep it for 2 years, putting away the £250 a month you would have been paying for the SRI, that leaves you with £6k. sell your sxi for whatever its worth, gota be atleast £2k ish. thats £8K youve got, go buy the SRI you were going to in the first place, but with no debt
[Edited on 25-04-2005 by dave17]
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