List price on this with metallic paint is £10019 and discounts are more or less impossible to get because of the 'haggle free' system of selling that Daewoo employs. With a 30% deposit (£3005.70), that leaves you £7013.30 to finance, or £194.81 per month.
That's more than a Polo 1.2 Twist auto at £9,790 from www.ukcarbroker.co.uk It only has 65 bhp but it does come with air con, metallic paint and alloy wheels. Financing £6,800 would cost you £208.71 per month over three years from uk.biz.yahoo.com/loan
I can't guarantee used values but I reckon that, in three years, the Polo will be worth about £6,500 and the Daewoo £4,750 if you're lucky.
Still interested? Basically, for an extra £13.90 per month, or £500.76 over three years, you could be looking at £1,750 extra in a private sale when you come to sell the car, if you go for the Polo. That's without taking into account things like fuel and servicing, admittedly, but don't think that the Daewoo is a particularly budget choice.
If you want a 1.4, look at the Nissan Micra 1.4 SE Auto (£800ish off from www.autobytel.co.uk ), which should also get you back more than the interest you've paid on a loan when you come to sell.
Thnaks for that David but at the moment they are offering 3 years 0% finance which makes it very attractive, but the problem is they only offered me £900 in part ex for my M Micra 1.3 Auto. So I basically in so many words said "No". I think I'll wait and see what comes on the market with other makes.
Hansi - are you saying that you would go for a car with three years' 0% finance (worth about £800 at most) even if it's a worse decision for you financially, just to avoid paying interest? Obviously if you actually like the car more than the others, it's worth doing.
As for the £900 p/x offer - yes, it's low, but even if the car is mint it's unlikely to make more than £1300 at auction, so they're not ripping you off by as much as you think. Also, what about selling privately? £1600 should be achievable.
Well, I went to my local garage and they said they would give me between £1800-£2000 against a used car, but I'm gonna hang on to it now, unless a very good offer comes up. It's still basically a very good card and serviced regularly.
If you're happy with the car, keep it. However, for when you do shift it, I should point out that part exchange prices are all relative.
If a car is £2000 overpriced then it's not especially generous of a garage to offer you an extra £1k for the old one. The only figure that matters when deciding where to buy is the cost to change, including interest charges.
What to buy also depends on insurance, economy, maintenance and depreciation. And those are just the financial factors.