car finance question?

my BM has about £2k left on finance, i really can't take looking at the damn thing no more! just seems prob after prob. part of me really loves the car though. i love the engine and the nice roar it makes with all the pistons bobbing around that straight 6. but when i drive it or look at it on my drive it's always with a 'whats gonna go next' thought :( basically i aint got the cash to clear it which bums me out! if i took it to a dealer to part ex with something else do you think there is any kind of deal they could do? i was gonna ask the finance guy at work today but he was in meetings all day!!! typical.

i just don't care what car i get, maybe something cheaper and newer, was thinking something like a fiesta st? nearly new one. or i could sell it clear what i can and buy a banger from work till i build some cash maybe. if i got something small i'd probably get a big chunk from having something cheaper to insure. the BM is group 16 after all.

my sensible head says whack it up for a bit over £3k and see if i get a bite after xmas, if not hang onto it and just have it another year and probably clear whats left of the finance.

now i didn't listen to you guys when i got it but i think i'll try and take some of the shit that's said on board for a change!

Reply to
Vamp
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Good lad - well you did say you wanted to learn things the hard way :-)

Peter

Reply to
AstraVanMan

1) Is the car on HP ? 2) Have you paid more than half of the total payments ? 3) Is it worth less than you owe on it ?

If you can answer all three of the above questions as yes then you can /consider/ going down the road of a voluntary termination of your HP. You mention doing a deal with a dealer, who will gladly tuck you up with more credit just to 'help you out'. Don;t even think about it. Your new car is upside down before you've even started.

If you do decide to go down the road of a voluntary termination the finance company have no right to leave any sort of black mark on your credit file and if they try to you can legaly force it to be removed.

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Worth thinking about - I've done it myself, but you're a big boy, so make your own decision.

Reply to
Bob Sherunckle

Wouldn't buying a nearly new Fiesta ST just put you in even more debt? Plus depreciation on Fords is usually fairly high and you'll end up owing more than the car's worth again. If I was in your position I'd probably sell the BMW and buy a Mk2 Golf GTI, cheap, reliable, economical and depreciation proof. Pay off the finance ASAP then start saving for a mortgage.

Reply to
Homer

That and they're shit. He'd hate it more than the BM in less than a week.

Reply to
Iridium

I'm not Vamp, clearly, but he paid around £7k for the car in total, so taking interest into account as well, then with only £2k left, I'd guess he probably has paid off more than half of the total payments. And I'd have said even an R reg 328i Coupe would still probably be worth a little bit more than £2k these days.

Peter

Reply to
AstraVanMan

They seem to be the main 'enemy' car of choice over on Briskoda, amongst the Fabia vRS boys.

How about one of those, Vamp?

They seem to hold their money well and having driven one, they're pretty quick and they seem to do over 50mpg all the time.

If they weren't *that* much dearer than the 1.4 I've already got, I'd have considered chopping that in for one.

-- JackH

Reply to
jackhackettuk

You're absolutley right. Not worth doing.

Reply to
Bob Sherunckle

I'd go with the suggestion of a Fabia vRS over a ST if you were looking at a smallish hatch. I can fit in one as easy as an Octavia, and depending which way I go, I might consider one myself.

I still can't decide between older largish auto diesel, or struggle with a manual now my commute has changed now we have moved offices (m56 which flows much better even when rammed, rather than the M62 which crawls sometimes on a normal day).

Reply to
Elder

i'll guess i'll put up with the BM that bit longer, i should be getting a wage increase real soon so i'll see how much i get as i maybe able to clear the finance early that way and sell the car and use that as a deposit for a newer car. i only thought of a fiesta ST on stats really, 0-60mph in 7.9 (BM does it in

7.1 so wouldn't feel to bad) and round here in good old essex i'd always probably get good money when selling on. i'd want to drive one properly first. i've sat and driven them at work but not had a proper drive. insurance is cheap too.

the skoda seems a better option, but what worries me is my sis has a 2000 fabia 1.4, and i hate the silly light steering and clutch, is the vRS the same or a totally different beast? do like the interior of the vRS and that 1.9 diesel is the nuts! i would get good overtaken power and the potential for tuning hmmm. black would be nice....

cheers for the advice guys but i'm just gonna have to stick with the BM that bit longer i guess...

golf MK2 would be a good stop gap maybe though if did get really pissed at the BM mind though. no dounbt i'll be asking again early next year the same old question :)

Reply to
Vamp

They're set up more for a 'sporty' drive - firmer suspension etc.

Can't comment on the clutch other than I prefer the one in mine to the heavy one in my GTi... might try changing the cable on that soon, actually.

The steering... aye, tis a bit heavier - probably helps that the wheels are 16s and IIRC, 205 rubber (might be 215 actually).

That's exactly what my mate has... with the optional heated seats.

He keeps umming and arring over a remap, but even out the box they're pretty potent.

I've seen quite a few private ones up for around the =A36k mark recently with 60k miles ish - dealers always seem to want around =A39k, and I can't justify trading in a perfectly good 1.4 that would fetch about =A35k against a same aged vRS with more miles on the clock.

One thing I'd be wary of is they do seem to suffer with coolant system issues, so be a bit vigilant in checking that right out if you do decide to look at one - have a look at the Fabia section on Briskoda to see what I mean about plenty of reports of issues.

Yebbut... it'll be another old car with old car issues and it'll be your main and only car?

I've done the same in getting the 106 GTi... which ultimately is just a toy I happen to choose to drive more than the sensible Fabia option.

-- JackH

Reply to
jackhackettuk

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