new polo gti? worth it?

[Jimble]

Finance is a loan, just secured on the car, at the end of the finance term you own the car. Leasing is completely different.

[Mikester]

I have finance at £280 a month which i took over 3 years. Im about 2 years in and i regret it. Although i love the car.

When i took it out i was living at home but now i have my own place. Money isnt tight but i would rather have that money for other things.

Depends on your income i suppose. I have a higher than average income according to the other thread on money.

What im saying is, think about the future in those 3 years.

Also finance through a dealer means you pay higher prices for the car and interest.

You would be better off with a bank loan so it has lower interest. This would also mean you could buy the car privately and get better value for money.

[dom]

I have finance at £280 a month which i took over 3 years. Im about 2 years in and i regret it. Although i love the car.

When i took it out i was living at home but now i have my own place. Money isnt tight but i would rather have that money for other things.

Depends on your income i suppose. I have a higher than average income according to the other thread on money.

What im saying is, think about the future in those 3 years.

Also finance through a dealer means you pay higher prices for the car and interest.

You would be better off with a bank loan so it has lower interest. This would also mean you could buy the car privately and get better value for money.

That is what I was getting at with my earlier comment. I'm a couple of years older than you and started renting with my g/f last year, we're now in the process of buying a house.

I was considering finance again a couple of years ago, had I taken the finance out then I wouldn't have been approved for the mortgage as it's tight as it is, just something to consider.

You might be able to afford £300 a month now, but if you have to have rent/bills/council tax to pay for in a couple of years then you'll notice that amount of money!

[Mikester]

I have finance at £280 a month which i took over 3 years. Im about 2 years in and i regret it. Although i love the car.

When i took it out i was living at home but now i have my own place. Money isnt tight but i would rather have that money for other things.

Depends on your income i suppose. I have a higher than average income according to the other thread on money.

What im saying is, think about the future in those 3 years.

Also finance through a dealer means you pay higher prices for the car and interest.

You would be better off with a bank loan so it has lower interest. This would also mean you could buy the car privately and get better value for money.

That is what I was getting at with my earlier comment. I'm a couple of years older than you and started renting with my g/f last year, we're now in the process of buying a house.

I was considering finance again a couple of years ago, had I taken the finance out then I wouldn't have been approved for the mortgage as it's tight as it is, just something to consider.

You might be able to afford £300 a month now, but if you have to have rent/bills/council tax to pay for in a couple of years then you'll notice that amount of money!

This is exactly it.

At the time i took it out i was living at home, paying no rent to parents and taking home near on 2k a month with no bills. So £280 a month was no dramas for car finance.

Now i rent and want to buy a house but that car finance makes a massive dent in funds.

The main issue with car finance is the price you pay for the car and its depreciation. After 1 year in the 3 year finance deal what you owe will be far more than the cars worth.

[scarr89]

Finance is a loan, just secured on the car, at the end of the finance term you own the car. Leasing is completely different.

Been to vw with gf to look for a new car for here, test drove the 1.2 and looking to get it on finance. So shes sorted but it got me thinking 

Tax on mine= £250
insurance renewal= £1200+++

New polo gti
Insurance= £500
tax= not sure but doubt its £250

£300+ a month as i only have a small deposit to put down

Think i may got for it as in the long run it would seem a sensible idea then could always pay for it after 3 years or get another one in 3 years time 

just means no modding 

I know Hurdy has one and his is a beast but i wouldnt be able to do that 

I thought those types of deal, highlighted above, were more of a lease type thing. Where you could either pay the car off and then own it, or give it back and get another new one from fresh on the same sort of deal.

Or I'm just mis understand the whole sitch!

[Jimble]

^^Yeah your confused mate, finance is a loan secured on the car, also known as hire purchase, when the term is finished you own the car.

The type of deal your talking about is a kind of lease.

[scarr89]

^^Yeah your confused mate, finance is a loan secured on the car, also known as hire purchase, when the term is finished you own the car.

The type of deal your talking about is a kind of lease.

Roger. Finance for the win. You don't want to get into one of those deals where you lease the car and never actually own it!

[Toby]

i just looked, with a £5000 deposit, on a £19500 car, it is 36 months with £250 a month :\

10000 miles a year!


ill pass i think! 

[jnufcuk]

It's not a brand new one your looking at then? You'll be looking at quite a high mileage for it's age for that kind of money imo.

No brand new lol. He done it at VW. That's my other option to loan money. Need to have a lil think about it 

[brianpologti]

The other thing is price of servicing and repairs when it's near the end of the loan , out of warranty etc etc .
I did this with a polo gti 6n2 new and the gearbox went again , right at the end out of warranty ,
 
Also if your thinking of keeping it more that 3 years the dealers like the four year sting, cambelt/ antifreeze / brakefluid change .