So, in September I'll have had my car for 2 years. It's a good car, no problems or anything, think is it lacks that ooomph to get it up hills with only having 60 BHP and it gets hot in the summer with no AC being the basic model and everything. I bought it on 3 years finance with the finance being in my dads name because I was only 17 at the time.

 

I've seen this car through casual browsing on the web and it has caught my eye:

http://www.derekslackmotors.co.uk/vehicle.asp?ID=605096563

 

2 years younger, 45 more BHP, 53,000 miles less on the clock and a few more options thrown in too.

 

Now I don't know how much I'd get part-x for my car but WBAC says it's worth £2940 when I give it my reg and mileage.

 

So, I'll owe about £1500 on my car still so if I traded it in for £3000 that'd give around £1500 towards the Mont'e taking it down to around £9,000

 

I don't have any savings to put towards it because I'll have to pay for insurance so that'd be around £9,000 on finance.

 

If I were to buy that car I would intend on keeping it for the foreseeable future, the thing is with my car is I love the car but I don't like the lack of power. You have to plan every overtake 4 miles in advance ect and you sweat in summer. But it's a nice car, I like the Fabia a lot and could live with one for a good few years.

 

Obviously I'll take the wheels off mine and take the Columbus out to return it to standard, then take the Amundsen out and sell it on which will give some cash back.

 

So please, honest opinions. Do I stick with my car or have a trip to Middlesbrough and have a look at that and see into it a bit more?

 

 

 

 

Right, first off, thanks for your feedback so far. 

Secondly, I went there today to throw some figures around and just see exactly what's what.

First thing, the car seams sound, drives well and is neat and tidy in general.

Next thing. If I were to go ahead It would be 48 payments of £188.53 With a final payment of £2500. This is with a 25000 mile limit, but with an annual mileage of around 10000 this won't be exceeded regardless.

 

It would cost just under £90 to transfer the car onto my insurance which ends at the end of September. The cheapest quote found on-line is £758.

 

As it stands I went in there just to see what's what and left it at "I'll look at the finances and see what insurance comes to and I'll get back to you"

 

So with that in mind are opinions still the same? Obviously I'm biased towards going for it but having people that can look at this from a different perspective helps. Thanks.

 

*Edited to include last post and poll*

Hang on to yours until you've cleared the finance, then buy something cheaper than the monte so you don't stretch your finances as much.  Power isn't everything.  My son's first car was 45bhp and he managed to make it last three years.  He's now on his second car and has moved up to 53bhp.  Of course he'd like a rocket, but he's biding his time.

 

Gaz

Hmmm, a £9,000 loan for 45bhp and A/C?

 

All down to personal circumstances but it sounds to me as though your current car is as good as it gets, but perhaps you are a little bored with it?

Hmmm, a £9,000 loan for 45bhp and A/C?

 

All down to personal circumstances but it sounds to me as though your current car is as good as it gets, but perhaps you are a little bored with it?

It's the 53,000 miles as well though, eventually my car is going to be worth nothing.

Anyway, thanks for your input it won' go ignored. 

I'd think you would find a better offer on a Monte - I got mine (black edn) for a similar price, 3k miles and a 64 plate...

 

If you've only been driving for a few years, I'd stick with what you have, get some experience behind you as well as no claims discount...  My first car had 3 working windows, no AC, no heating and the clutch was slipping for the first 4000 miles I had  -. if I'd had a faster car back then I'd have either put it in a ditch or hurt someone.

All cars lose value mate. Yours isn't losing value as quickly as the one you're thinking of buying though and while there's finance on the car I'd be paying that off to make the next buying process simpler. In a years time after you've paid off the £1500 your car won't have lost much more and should be around the 2k mark in value. The one you're thinking of buying will have depreciated by a couple of thousand at least (or a similar one in a years time).

All that aside, I wouldn't buy a car from slacks simply because their website is terrible.   What's all those lines about?

Straight into the finance culture though.

Why not keep the HTP for a while whilst you save up.

Then you can buy something which is yours, no monthly payments to keep up with etc etc.

I would keep it for another year and save as much as I could. Then after the year make a choice and change cars if you want to.

 

As above more power doesn't mean more fun, I enjoy my citigo far more than I did my Octavia vRS which has 3 times as much power.

 

Although no AC sucks, for most of my motoring life I ever had AC and I survived ok

I would keep it for another year and save as much as I could. Then after the year make a choice and change cars if you want to.

As above more power doesn't mean more fun, I enjoy my citigo far more than I did my Octavia vRS which has 3 times as much power.

Although no AC sucks, for most of my motoring life I ever had AC and I survived ok

I agree mate.

My fabias only 70bhp, but i havent got it for the speed of course.

Its comfy, it does have AC mind, the little engine makes it light upfront, so a little bit of a giggle in the bends sometimes, and returns 50mpg (48mpg today over 165 miles, 4 adults in, across the peak district and cruise set to 75mph on the motorway) but i like it.

an extra 35bhp wouldnt, and doesnt make it a 'fast' car. The TSI is a nice engine, but not good enough to swap out the HTP for i dont think.

But i am abit of a speed freak if i get started going that way lol.

It's all good advice.  I really wouldn't take on all that debt for a few extra bhp and some cooler air from time to time.  I've never borrowed £9000 on a car and I'm a doddery old 40 something who'd owned about 20 cars.  Keep your current car, save up, clear the debt and then you'll be in a much better position in a years time.  If by then you still want some more oomph under your right foot then have a look round at what's on offer because as nice as the Monte is, there are some even nicer cars out there for £9000.

Debt reduction before fancy stuff...

thus why im driving an 11yr old mk1 diesel.

sit down and run the figures in a loan calculator. How much interest would pay over the term on the bigger loan and add that to the asking price of the car... suddenly it wil really not look great.

eg - 5k from my local credit union for 2.5yrs would cost me 550odd in interest, so a 6k used car is really 6500 - allowing for a 1k trade in value on me car.

Edited 4 August, 201510 yr by mac11irl

Sod it, play the game stick with what you have for another couple of years and break the insurance price right down. Once its done, you won't have substantial debt hanging over you still for a car thats worth less than you owe and you can shop around for a vRS instead and make a real step up! All for the sacrifice of opening the windows rather than having air con. (mileage is a non factor IMO as you get value from its usage which is reflected in depreciation regardless). 

 

Or copy mac11irl and I and get a cheap to run and insure Mk1 Octy TDI, you can get one with air con and near twice the BHP / MPG & 3 times the torque, for half the value of your car and go debt free today! Just tell yourself it's retro 

 

 

ps mine doesn't have air con annoyingly, I feel that pain. But at your age I was driving a 300ZX for much less debt than the car your looking at, it had air con and could manage to overtake!   ( was my 12th car and I straight swapped my Alfa 156 for it ) 

 

So, in September I'll have had my car for 2 years. It's a good car, no problems or anything, think is it lacks that ooomph to get it up hills with only having 60 BHP and it gets hot in the summer with no AC being the basic model and everything. I bought it on 3 years finance with the finance being in my dads name because I was only 17 at the time.

 

I've seen this car through casual browsing on the web and it has caught my eye:

http://www.derekslackmotors.co.uk/vehicle.asp?ID=605096563

 

2 years younger, 45 more BHP, 53,000 miles less on the clock and a few more options thrown in too.

 

Now I don't know how much I'd get part-x for my car but WBAC says it's worth £2940 when I give it my reg and mileage.

 

So, I'll owe about £1500 on my car still so if I traded it in for £3000 that'd give around £1500 towards the Mont'e taking it down to around £9,000

 

I don't have any savings to put towards it because I'll have to pay for insurance so that'd be around £9,000 on finance.

 

If I were to buy that car I would intend on keeping it for the foreseeable future, the thing is with my car is I love the car but I don't like the lack of power. You have to plan every overtake 4 miles in advance ect and you sweat in summer. But it's a nice car, I like the Fabia a lot and could live with one for a good few years.

 

Obviously I'll take the wheels off mine and take the Columbus out to return it to standard, then take the Amundsen out and sell it on which will give some cash back.

 

So please, honest opinions. Do I stick with my car or have a trip to Middlesbrough and have a look at that and see into it a bit more?

 

IMO, keep your car until you can comfortably afford not just the payments on the new car, but the insurance too.

 

Hopefully this won't be taken the wrong way, but I find a lot of the younger generation now are simply unwilling to wait for stuff, particularly stuff that they can't really afford; I could tell you dozens of stories of friends of mine (who are younger than me) that have been paying off debt for years that they racked up on stuff they shouldn't have bought, or in some cases, simply partying on credit (yes, going out every Friday and Saturday night for years and using credit cards to do so because their wages weren't covering their expenses).

 

My advice would be to be different to other people - in reality, the mere fact that you've posted on here to ask the question is good, because I think you probably know the answer already and are just seeking reassurance; asking a car forum if you should buy a newer car probably isn't the best idea though!  

 

As others have already said, holding on to yours for a few years will mean that you could probably afford a MUCH better car next than a Monte.......so, work out whether you want to replace a perfectly good runaround and finance £9k on a Monte right now, or (potentially) hang on for a couple or three years and finance less on a significantly better car that you can afford to insure and look after properly?

 

I know what I would do, but that's easy to say in my position as I've already been in yours (incidentally, my first car was a Fiat Cinquecento Sporting 1.1 in Flame Red which I ran for four years until the gearbox was on the way out - I was ridiculed that it looked like Postman Pat's van, but I didn't care, I loved that car and it did it's job well for me).

 

Set yourself a goal of the kind of car you might like to be in next (instead of the Monte) and then each time you get into yours and get annoyed by the power and lack of Air Con, think about that car you will eventually have.   :p

 

H

I agree, particularly about looking for a good Octy 1 TDi (if you're right about the trade-in, a straight swap should see you in an Elegance or L&K with twice the power, 3x the torque, climate control rather than dumb air con (makes a real difference in cool but humid conditions)). Ok, I would say that, but then I've had mine over 9 years and still look forward to almost every trip.

Right, first off, thanks for your feedback so far. 

Secondly, I went there today to throw some figures around and just see exactly what's what.

First thing, the car seams sound, drives well and is neat and tidy in general.

Next thing. If I were to go ahead It would be 48 payments of £188.53 With a final payment of £2500. This is with a 25000 mile limit, but with an annual mileage of around 10000 this won't be exceeded regardless.

 

It would cost just under £90 to transfer the car onto my insurance which ends at the end of September. The cheapest quote found on-line is £758.

 

As it stands I went in there just to see what's what and left it at "I'll look at the finances and see what insurance comes to and I'll get back to you"

 

So with that in mind are opinions still the same? Obviously I'm biased towards going for it but having people that can look at this from a different perspective helps. Thanks.

So that works out at £12229 to buy the car, without any mention of your current car in part ex. If you're putting your car in as part deposit (£3000 worth) then the new car cost jumps to £15229 over 4 years. Have I got this right, and you're considering that as a good deal?

If you really, really, really like the car and can comfortably afford the payments then why not treat yourself, although personally I wouldn't want to be paying out for a car for 48 months and still be owing £2500 on it at the end.

 

But then again, you might want to start think about saving for a deposit on a house or flat in which case you'd probably be better off sticking with what you've got (unless it's due some major expense).

So that works out at £12229 to buy the car, without any mention of your current car in part ex. If you're putting your car in as part deposit (£3000 worth) then the new car cost jumps to £15229 over 4 years. Have I got this right, and you're considering that as a good deal?

Thanks for that. I was focusing on the payments too much rather than the total. I'll stick with what I've got for the time being and see what else springs up in the future.

 

Once again, thanks everyone for your opinions, and thanks for letting me see it from a different angle.

Just had a quick trawl on Autotrader and there's a good few nice Fabias on there with similar spec and age/miles for a lot less than slack derek wants for his.

 

Like this one for example. www.autotrader.co.uk/classified/advert/201506044041050

I think youd be throwing money away to go for it.

But then finance nearly always costs extra in the long run doesnt it. Its the price you pay for being impatient.

Im only 22, but really old fashioned in that i wont buy anything unless i can afford it.. Cash.

Edited 5 August, 201510 yr by fabiamk2SE

Thanks for that. I was focusing on the payments too much rather than the total. I'll stick with what I've got for the time being and see what else springs up in the future.

 

Once again, thanks everyone for your opinions, and thanks for letting me see it from a different angle.

Personally, I think that's a wise decision that you'll be happy with in a few years time when you're sitting in a much nicer car, or your own lounge.