Car finance

[Ian H]

Yes, 1.5l, 3cylinder, 140bhp with Automatic box.

 

[DaveHerns]

I'm going to need to think long and hard about going back to petrol when I next change my car.

 

[securespark]

We keep our cars 10 years

Will be 10 years for us next year.
120K still going strong and only brakes, tyres and two sets of wiper blades.
One window smashed by a druggie replaced through the insurance.
"Water in diesel filter" light coming on occasionally and a rattle from the rear s'pension, but we are told they are both easy fixes. Let you know, it's going in tomorrow!

 

[securespark]

Rattle is bushes on rear AR bar. Told it's not a safety issue and can wait till MOT a bit later this year. Diesel filter housing needs cleaning out and filter replacing.

 

[DaveHerns]

I'd clean out the filter housing sooner rather than later. Water contamination won't do your engine any good.

 

[securespark]

Mmmm, point taken, the injectors won't like it at the very least...

 

[Burnerman]

Lets hope the filter isn't like the Nissan Note diesel.....battery out (battery saver deployed, essential or its back to Nissan), battery tray out, air box out, disconnect the fuse box and swing it out of the way - and you've just got enough space to disconnect it with one hand. A true nightmare and I hate doing them
The genuine filter is £60 too
John

 

[Ian H]

I put 1100miles on it driving round Ireland last week. Also gave it its first wash and vac yesterday.

The only thing I don't like it that the alloys hold water in a groove, seems a poor design.

 

[motorbiking]

Section 75 of the Consumer Credit Act is the main protection you get when you Finance a car. It means you can hold the Finance company's toes to the fire if there is a problem. Unless you have a need to have a new car every 2-3 years or can put it through the books of a company you are always better off buying cash. Auctions are still a great place to get ex-fleet cars at 10-20% less than a dealer. You can buy a warranty if you need.

One of my cars I've owned for 17 years from new, another is 9 years old, they were reasonably expensive (30-40k when purchased). I reckon I've lost about 2k a year. Had I purchased a new car on Finance over 3 or 4 years - I'd be losing 5-10k per year. With older cars, you can also save on dealer servicing, which adds up over time.

 

[FiremanT]

When buying a used car is there any benefit in using the dealers finance facilities rather than getting a personal loan?

The cars around 3 years old and £15000.

A friend of mine thinks with using their finance you have more control if something goes wrong but I can't see it myself.

People buy caravans through finance for the protection it offers, basically the finance company are jointly liable for any issues dien the road ie not fit for purpose etc.

I bought our Kuga with a personal loan at bank (2.9%), dealership couldn't get anywhere near that..

If you get a better finance deal through the dealership, you are probably overpaying for the car.

I bought my car 3 years ago, at 2.9%, and just raised a loan,at the same rate, to split between my 2 kids, as their financial position would not get them a decent rate.
The daughter has just bought theirs, but I suggested paying at least part by credit card, which gives them the financial protection if the sellers (Motorpoint) go belly up, and the car blew up on the way home .

Re: Ians mate: I don't think there is any extra control by using the sellers finance company. The lender is just that - lending. The exception is with HP, where you can return the vehicle at a certain point - IIRC, halfway, subject to having taken care of the car etc

 

[chris1982]

Last car I bought I wanted to pay cash, but after agreeing on the price, the dealership offered 0% manufacturer (KIA / Hyundai) financing. So I took that out instead.