Re: I think I'm getting old and 'sensible'

Good plan. Finance is definately the way to buy cars - as you say, £67 a month is f*ck-all, but (if you're anything like me) you'd struggle to pull £2500 out of your pocket to buy it upfront.

Finance gets you nice cars - Upfront payment gets you old sheds.

What on earth for ?!?!?

evening....

calculations

If you've got the cash lying around, in say a savings account, it can be handy to have credit, but I'd rather save up I didn't... Simply because I'd be pissed off if the car got wrote off and I were still paying for it, or if I suddenly didn't have the cash to keep up for whatever reason.

Ditto - but that would mean I'd have to wait X years for my car. Credit lets you have it now :)

But then you get the insurance payout, and you pay it off with that. So you don't lose out.

If you've not got a steady job, you need to pay the extra for "payment protection" really.

And remember children - if you get fed up of the thing and you've paid more than half you can walk away from it. This may sound crazy, but if you've bought something intersting but financially disatrous - like an alfa for example - it can make all the sense in the world. Voluntary termination it's called. The motor trade would much rather you trade in at this point and they will "help you out" by giving you a huge trade in value which is really paid for by a humungous interest rate. Remember - voluntary termination. You know it makes sense. Walk away after paying half and let the motor trade swallow the depreciation whole.

Yes, dealers can be so helpful at times.

Isn't it the case that you must keep the vehicle in reasonable condition? And that it would only apply to finance secured on the vehicle - ie HP?

Massive/expensive failure is probably the main reason you would want to voluntarily terminate.

BTW if this is not the case then my brother should definitely hand back his shagged 106.

BC

It's a similar effect though - you get to shove the depreciaition up their jacksie instead of taking it yourself.

Agreed about dealer finance - it's in their interest to stitch you up with the dearest rate imaginable and make you feel good about it. For almost the first time in my adult life I owe no money on cars and hope to keep it that way for as long as possible. The wife's Ibiza she bought with her own money, the soon to arrive Passat 4motion will be a lease car and the locost is being built with pocket money - 2 bob at a time.