Buy with cash and if you couldn't buy another one next week, you can't afford the one you buy today. My rule

there is lots of quality stuff out there cheap.

 

Between £2-5k I'd agree with that, the sub £1k market though doesn't seem to have recovered since the scrappage scheme, my brother's car is dead (Nissan Almera, broken engine), have been looking around for potential replacements and I've been massively underwhelmed with what's available in that price bracket in the North West.

Agreed that the balloon payment is the killer but as someone said. No way I'd be able to this car without pcp. Depends how you see the world financially. I don't like having debts and thankfully other than a mortgage (which I don't really see as a debt) so to have a car on pcp to me is like renting it with the option to buy, swap or trade.

Unless it's on the Skoda 0% deal it's an expensive way to buy a car though.

 

Because you are paying interest on the paments and the Future Value/Balloon.

Only as the balloon payment is outstanding for the whole of the deal you pay more interest than if you were buying the car.

With tradional HP you are reducing the capital outstanding all the time, to zero at the end.  Which reduces the finance charges.

 

As Someone said above, it's a good way to get in a car you couldn't normally afford.

But it's not cheap in the long run due renting the car during it's heaviest depreciation period and also having a lot of finance charges.

 

However... if the figures add up and you want the car, everyone has free choice.

Isn't this the blue the old 3 wheeled invalid carriages were?

pg

 

so when do we get to see the build thread?

Aha, the Invacar.  They are still quite popular around Romford, my local garage used to build these and still maintain them.

@Richard that a 1.4 mpi, 16v, SDi?

Hope to see you at Kent meet soon. Not been for ages.

BTW didn't the DHSS take back all those invacars and crush them?

Edited 24 January, 201412 yr by Matt Bodycombe

I've never seen the attraction of paying over the odds for a car that'll just depreciate rapidly. What you really want to do is spend £250 on one of these and have more fun than you ever will in any modern financed thing.

 

What's the plan with this one Richard?

There was a mythical 2.0 litre for sale on autotrader for £380 44 miles from me!

@Richard that a 1.4 mpi, 16v, SDi?

Hope to see you at Kent meet soon. Not been for ages.

 

1.4 16v according to the badges on the engine.

100k on the clock.

What's the plan with this one Richard?

There was a mythical 2.0 litre for sale on autotrader for £380 44 miles from me!

 

And you didn't buy it !?!?!?! 

It might still be for sale. If i did buy it I won't be able to afford brands hatch. Tough choice

I bought this for £300.

Outright.  Today!

 

how an earth did you get it for that money?! I want one now  :think:

how an earth did you get it for that money?! I want one now  :think:

 

Salvage, it's got a small bump on the rear that doesn't really need fixing.

But enough to write off a cheapie.

 

I'm sure you just love the colour though.

Salvage, it's got a small bump on the rear that doesn't really need fixing.

But enough to write off a cheapie.

 

I'm sure you just love the colour though.

Fair enough. What's the plan for this one then? 

I bought this for £300.

Outright.  Today!

 

In running order or does it "require attention"?  The only cars I can find around here for that kind of money (looking on behalf of my brother) are horrid little Ford Ka's that resemble salt shakers.

I got someone to have a look and it's fine.

Just the dent in the back.

 

 

It's just something to keep me occupied while I'm waiting on projects/parts/respray so I don't go and buy something daft...

 

I've paid more for a tyre previously. :wonder:

What's the plan with this one Richard?

There was a mythical 2.0 litre for sale on autotrader for £380 44 miles from me!

Was not MDK1's car was it lol. He has (or had) the only Fabia 2.0 115 8v I have ever encountered.

TBH If i could, I would chop in my Citigo and go to a older Used car.

 

I have gone off the Idea of paying for a car which isnt mine.

TBH If i could, I would chop in my Citigo and go to a older Used car.

 

I have gone off the Idea of paying for a car which isnt mine.

 

Would sir like to purchase a high quality used vehicle in a rather fetching shade of slime?

Was not MDK1's car was it lol. He has (or had) the only Fabia 2.0 115 8v I have ever encountered.

It was part x to clear. Not on autotrader now so must have sold.

It's just something to keep me occupied while I'm waiting on projects/parts/respray so I don't go and buy something daft...

 

I've paid more for a tyre previously. :wonder:

 

 

Would sir like to purchase a high quality used vehicle in a rather fetching shade of slime?

 

 

I would say you purchasing said "Slime" coloured car would be a daft act :P

Agreed that the balloon payment is the killer but as someone said. No way I'd be able to this car without pcp. Depends how you see the world financially. I don't like having debts and thankfully other than a mortgage (which I don't really see as a debt) so to have a car on pcp to me is like renting it with the option to buy, swap or trade.

 

I'm not sure the balloon pament is a killer, it's the shocking trade-in/guarenteed value you get that stings you.

 

I did the Octy on PCP. After 3yr  the balloon was £7500. I was offered £7500 as a trade in against a new VRS so basically I'd have to magic up £5k to get the same deal as before (got offered 9k the next day against a volvo S60d). I looked around and if I was buying a 3yr old VRS at that time it was much more than £7500. so I looked at it as a a good deal on a 2nd hand car and took out a loan not finance.

 

SWMBO is in the same boat now with her 116i. Balloon is £7000 but to buy the same car now the dealer want £11k. So forgetting she's already had it, it's a good deal for that car.

 

Saying that, I'll never do PCP again. Next car will be clear in 3yr or I can't afford it.

I would say you purchasing said "Slime" coloured car would be a daft act :p

 

I've done worse.

 

I did briefly own a Fabia mk2 VRS you know?

You know, the ones where 99% of the engines drink oil and implode.

You know, the ones where 99% of the engines drink oil and implode.

 

just like the Mk1 1.4 16V's

 

not much changed in 7 years, all they did is add twin charging 

Would sir like to purchase a high quality used vehicle in a rather fetching shade of slime?

 

You only just bought it and you're selling it already?