Advice please! - sonic2013

Hi People,

after searching the web for a car buying forum, I came across this one and it looks the most appealing!

I'm after some advice regarding purchasing a new car please, i'm very confused!

Right, so I want to buy a used car (maybe 1 year old). However, I don't know which option to take: I have the funds ready (spending upto £14k) - so should I just buy the car outright?

Or the 2nd option is to Finance it on a Personal contract purchase. But I don't think it's sensible to pay interest if I already have the funds, and dealers only provide 0% finance on new cars.

What option would you take and why? Any advice would be most appreciated!

thanks

Advice please! - Happy Blue!

Generally any non cash deal involves some element of finance out of which someone else is making a profit. So, in principal always buy with cash for the best deal. However.....

Sometimes there are good manufacturer backed offers which can make a cash deal look less attractive. Usually 0% finance (0% APR) for a brand new car which may be a slow seller or a run out model.

Advice please! - sonic2013

Thanks for your response..

I'm leaning more towards buying outright rather then PCP programme

Advice please! - Andrew-T

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Edited by Andrew-T on 25/02/2013 at 17:50

Advice please! - jamie745

PCP isn't a terrible idea but you know what's great about just owning your car? There's no busybody telling you how many miles you're allowed to do, when and where you must get it serviced and whether or not a dent invalidates some convoluted agreement.

You can do what you want. Drive and be damned.

Advice please! - Avant

I agree: if you've got the £14k you may as well spend it, as interest rates on savings are so low at the moment.

Bear in mind that for £14k there are plenty of good cars available new, with the full manufacturer's warranty and no risk of getting one tnat's been abused.

Advice please! - jamie745

I've said many times on here you may be surprised what you can come home with for £4,000 these days. £14k opens up hundreds of possibilities.

Advice please! - concrete

I've said many times on here you may be surprised what you can come home with for £4,000 these days. £14k opens up hundreds of possibilities.

Spot on jamie, been looking around for a few weeks with my daughter, sussing out the market. There is a lot of metal available for £5k+ especially if you are prepared to haggle.Enter Mrs Concrete, our very own Exocet. Once she has been on the case for an hour or so I move and and the guy is virtually wanting to give it to me for some peace and quiet. It is sad to see a grown man close to tears. I am thinking of hiring her out as a negotiator. Anyway, back to cars, the second hand market is as overstocked as the new car market so deals are there to be had. Do all your homework, pin down the spec and price you want and go for it. It seems it is all up for grabs. People who offer to lend you money are not doing it because they are nice people, they are doing it make a profit. Nothing wrong with that, just keep it mind if you really have to borrow. good luck. Concrete