get a 5 year loan and go 2nd hand. after any length of time you can sell the car and the money from the sale can go to another car whilst paying off the loan payments still. easy

Only trouble with this is you have to buy a replacement car of the same value as the one you sell or take out a new loan/consolidation loan to top it up if you haven't put money aside.....

Chris

The idea of a 100 bhp Diesel Fabia Comfort or Elegance is best - will set you back 1/2 the cost of a vrs. And will be just as much fun - and more comfortable and cheaper to insure.

I you get bored you could do a Jason - or better still take it to someone like Jabba for a remap. This will take it beyond the VRS' power for a fraction of the cost.

Also try Chris Knott for insurance. They were 1/2 the cost of more than for me.

I went to see the Fabia yesterday. Test drove it, it was fantastic. There is nothing that good for that money in the Peugeot range. When I say I test drove it, I really didn’t hold back. A WRX came up on the outside, and I said I was going to beat it. We were on a slip road joining the A38 at Plymouth. Although the Scooby won, he had to drop down a gear to do it. It felt safe at speed, something that the 206 doesn’t. They had a fiddle with the figures, but there was no way with insurance it could stay in my price range. They said they would give me 12 month’s road fund, and 1 year’s gap insurance, but not drop from the asking price - which is very sensible as they could get the full asking price very easily. Because the car is fairly cheep and holding their value very well I am prepared to ‘invest’ in one, but it is going to take 3 to 6 months to get the insurance saved and a bit of a deposit. Therefore I changed the name of my savings account from ‘these are your savings, don’t spend them’ to ‘Fabia vRS fund’ I will be able to put away about £200 a month.

I was trying to explain my plans to my mother and (she is in psychology and does not understand about cars) that I would rather see my money depreciate in the drive way than gain interest in the bank. It is right, I could get a non-vRS for less money, but after I have modified it, my insurance is through the roof anyway.

Because I am very sad, and still believe my favorit has feelings, I felt guilty for wanting to replace him I cleaned him and filled him with the expensive sort of petrol.

Well done, at the very least, you have something to aim for with your savings and that is brilliant. At least you have a plan, now just put the plan into action.

I say, change when your curennt car fails the MOT, the less money thats goes into the banks pockets via interest, is brilliant.

:eek:

a fabia vRS beaten by a lowly scummy imprezza WRX

:eek:

i don't belive it, you sure it wasn't a mod'd 900bhp fire breathing monster??

hang on, you weren't in 6th at 30 were you?

My honest advice to you: Don't take 60 months of finance. You'll end up regretting it' date=' especially when you're about 3 or 4 years into it and you're getting itchy feet again.

You'd be much better off saving up, and you'll save yourself a bucketload in interest.[/quote']

....Or, take out the finance and hand it back after 30 months/ half payment time as is your legal right, with no come back (as long as the car is in reasonable condition. ie serviced, no bad dents or scratches) I'm not sure if the law is the same in England and Wales as it is in Scotland regarding that but just check the hp agreement. It's usually in a seperate little box which the sales staff will not point out to you as this practice is not encouraged by the finance companies. They don't like it but cannot penalise you for using this get out.

Because the car is fairly cheep and holding their value very well I am prepared to

from reading your posts i think the bottom line is you can't realistically afford the car.

from reading your posts i think the bottom line is you can't realistically afford the car.

Sadly I have to agree with that. We have all been in your position when we started out. If you borrow money for a new car and save up for the insurance, you still have to insure it again in a year's time when you are paying off the loan. I know you don't intend to have an accident claim, but you must allow that it could happen and then you will have to pay a big excess and perhaps an insurance hike, while at the same time still making the repayments.

The only reasonable course in your position is to buy an older, cheaper car, run it for a couple of years to build up your insurance history, and then trade in for a better one. That's exactly what I did and most others have to do.

I've been following your posts and you sound a sensible, thinking sort of person (sounds boring doesn't it) and I hope that you see the sense of this. Good luck!

Sal

As it stands at the moment I am not out of my provisional period at Peugeot, and although I think I am doing a good enough job, it is not as guaranteed as it could be if I had been here for more than 3 months.

I also have no idea how much I am going to earn here; as I am new I do not know how much I am realistically going to earn commission wise.

Also if I am in the trade, the last thing I want to do is pay a retail price!

In 3 months time I should be out of the provisional period, saved for a deposit and will go to a different garage which will allow me to buy closer to trade price.

As it stands at the moment I am not out of my provisional period at Peugeot' date=' and although I think I am doing a good enough job, it is not as guaranteed as it could be if I had been here for more than 3 months.

I also have no idea how much I am going to earn here; as I am new I do not know how much I am realistically going to earn commission wise.

Also if I am in the trade, the last thing I want to do is pay a retail price!

In 3 months time I should be out of the provisional period, saved for a deposit and will go to a different garage which will allow me to buy closer to trade price.[/quote']

You will have to be patient, save up a bit and then buy your little pocket rocket!

just because you're in the trade dont expect another dealer to offer you a big discount. Why would they offer you money off when they could sell the car to someone else for nearer the scren price ?

If you had a 206 up for £9600 and someone came in from the local Ford garage trying to haggle you down to nearer book price, would you sell it to them or the next person who was happy to pay £9500 ?

205GTi - you know it makes sense

Don't do it.Absolute waste of money just for a car.

Get Autotrader,look at a budget of 3-4k over say 3year bank loan.You could get a cracking car,in fact a far better car than a Fabia vRS for that.

Look at these MX 5's,summer is coming!

http://atsearch.autotrader.co.uk/WWW/cars_search.asp?nU=0&make=MAZDA&model=MX-5&min_pr=3000&max_pr=8000&postcode=ws11up&miles=40&max_records=50&modelexact=1&photo=1

Point 2' date=' make sure it is a HIGHER PURCHASE agreement. In this instance the finance company (e.g. black horse) own the car for the entire agreement period, you simply hire the car from them. Once you have paid 30-40% of the repayment total the finance company can no longer take the car off you without a court order even if you haven't paid your payments. Secondly and this is the MAIN point i was getting to (eventually), nearly all higher purchases agreements come with a statutory 'voluntary termination' clause.

What this allows you to do is end the agreement at any point and give the car back to them. There is a condition, you MUST have paid off 50% of the total repayment value. If you have not paid 50% then the finance company MAY allow you to make a one off payment to acheive this 50% (it's in their interest to do this as the car will be worth more than making you wait).

So in short although your agreement is for 5 years, you are not stuck with 5 years, after 2.5years you can simply hand the car back and start again.

You will NOT be blacklisted for this, it is your right to do so.

[/quote']

The problem with HIRE PURCHASE is the outrageous rates of interest charged - typically 9-13% - which makes the credit very expensive. Plus if you do hand the car back after half the repayments you will never build up any positive equity. You can get a personal loan at about 6% - then if you get bored you can sell the car and pay off the balance.

if you were thinking of a 205gti maybe consider a newer 106gti or citroen saxo vtr/vts? plenty on autotrader.