you would be much better off spending less than a grand on a decent diesel.
Cars are the biggest money loser out their and then paying intrest on top of that is just daft.

Get a nice Rover 200 or 400 sdi or maybe Peugeot 306 DT or Renault Megane DTi etc for less than £1k, decent reliable car with almost no depreciation and no loan interest.

When my Audi dies I dont plan on spending much more than a £1000 on a car ever again, just wasting money really.

what kind/year of car do you have right now ?

you should be able to pick up a decent fiesta/corsa (maybe 2 or 3 years old) for 3 to 4k.... which you should be able to get on an intrest free credit card pretty easy.... get an 18months intrest free one, set up a direct debit to go out the day youre pay goes into youre account and forget about it :-)  (for 18months anyway!)

This is the thing i dont have 4K to spend lol this is why i am considering the finance option so i only have to pay a certain ammount each month, with a Corsa available car quoted me around £110 a month which suited me fine, but iv heard other stories from different people with negative views on available car, iv currently got a Peugeot 205 at the moment.

Liam

Id go for the cheap diesel option. Or if you want petrol then a Honda 1.5 civic is always a good option. Just save up a bit of money and then have a look.

If you were going with the finance option, the bigger the deposit the less youd pay on finance.

So save up a grand and then once youve done that youd be able to say "oh theres this car available for 1K" or "I could put 1K deposit down on this other car"

I dont know anyone who would disagree with DEViANCE about depreciation, have a look at Audi A8s on autotrader. Older ones can be boughts from around £3500. When they were new youd look at atleast 10x more.
like this one: http://cgi.ebay.co.uk/CHEAP-1999-T-Reg-Audi-A8-2-8-Auto_W0QQitemZ260261526863QQihZ016QQcategoryZ9835QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

Only 9 yrs old, 11K a year on the clock. So not greatly used and it looks in good nick. Id buy it too if I had 4K. But in reality Ive done only a few miles on the motorway this year and dont need a big car. Id go with a Pug 306 TD. Spend about £1000, maybe a bit more and get one that hasnt been owned by a boy racer, even if its cheaper than another one.

Ive recently bought a Corsa 1.4 SXi (new shape) on an 07 plate from Carcraft, however you have to know what youre getting yourself into:

(1) If you dont get a 0% deal (which you wont, without a large deposit) then remember that youll be paying back 50% of the purchase price in interest. You can normally pay it off early, but you need to do this in a lump sum, not bit-by-bit.

(2) They will rip you off. I got £2300 taken off the list price of the car i bought.

(3) There is no real guarantee about the state of the car. I had to put mine through its first service straight away at a cost of £230 or so.

(4) Everyone who is there to help you gets a huge bonus on a sale. They will say anything and everything to get you to buy a car from them, especially today only deals.

(5) They get a kick back on everything that they sell you, including warranties and payment protection - but this means that there is always flexibility on the price. Never accept their first offer.

So basically, once youre round that minefield, you can get yourself a nice motor!

(Pics of mine are to follow in the C&B forum, but i CBA at the moment )

get a loan, it will be cheaper.
I assume that £110 is over 5 years?
You will get a 4k loan over 4 years for less than £100 a month.

Best advice. Recently done this myself - it was by far the best option. Borrowed 4.5K over 4 years - £130 a month 7.3% apr. Spent 3K on my car and the rest helped me move house and went into savings for the wedding. Easy to handle money wise and I love my car - so much better than just having a car thats functional.

Thanks for all of yer advice guys. Im not going to get anything big and fancy like an Audi A8 it will be far too expensive for me to run and i dont need a car way that big lol only something small like a Corsa or a Fiesta and im only going to be doing roughly 8000 miles a year and i want the car to be at the most 6 years old, im still thinking of getting a loan for one but as well but my mum is 100% against me getting out a loan as she keeps saying "it will reflect on me and my credit status!"   Iv got an excellant credit history anyway so i dont know why she things it will reflect back on her just because im still living at home? Iv never took out a loan in my life anyway and i can afford to pay it back as im in a stable job now.

Liam

If you defaulted on payments then bad credit history can be attached to the address. Lots of people will tell you its not true but it is - my brother moved into a place a few years back that was blacklisted and he couldnt even get a mobile, sky, loan anything despite flawless credit history. Numerous credit agencies told him it was the address so he moved - and voila, perfect again.

That said she cant stop you so just do it and make sure you dont miss the repayments. I picked up an 05 plate Punto Sport for 3K (loooove it!) which is great because itll still have some good value left in it by the time the loans paid off.

 

I got my car on finance over 3yrs, 0 deposit. Its expensive and 3yrs is probably a long time but it gives me a credit history and I get a bad little car to drive around in. If I did it again Id put a deposit down so Im not in negative equity - I was stupid and bought it on a whim and didnt think about stuff like that.

Im not sure but I dont think youll get finance on a car over 5yrs old, also get something nice that wont die or lose all its value quickly.