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Discussion Starter #1
So i've been in talks the passed few days with a garage about my possible new car, it has now just came down to me agreeing the finance they want me to pay.

It is a 2012 Corsa VXR Nurburgring with 19k miles. They are wanting 13,000 for the car but due to finance they are wanting me to pay an APR of 7.9 on top of this which im not to keen on myself however I am really keen on the car, I've got a 4,500 deposit and to be fair I am not really sure if I am getting a deal or not? Help is appreciated.

LINK http://www.morrisonmotors.co.uk/used-cars/2349/vauxhall-corsa/
 

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APR rate is a tad high, have you asked if they have a better rate as you have a fairly large deposit?
 

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APR rate is a tad high, have you asked if they have a better rate as you have a fairly large deposit?
You will be very lucky to get lower than 7.9 % Apr on a used car finance. Some places can do a deal with 0%-3% with a 50% deposit but they are rare. good luck, Seems like a steal with 19k millage.

Edit** noticed it is 2012. not bad. Serious depreciation though. :O
 

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Its a decent spec also - Touch and connect & AFL's. Mileage is about right for a 12 plate, my 62 plate has a little less on.

Price is a little on the high side I'd say taking the Vauxhall depreciation into account, but at a dealer with them optional extras the price is to be expected.

What finance figures have they quoted you out of interest?
 

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Discussion Starter #5
Its a decent spec also - Touch and connect & AFL's. Mileage is about right for a 12 plate, my 62 plate has a little less on.

Price is a little on the high side I'd say taking the Vauxhall depreciation into account, but at a dealer with them optional extras the price is to be expected.

What finance figures have they quoted you out of interest?
£270 a month for 36 months, i can easily afford it just don't want to get ripped off got ripped off majorly when buying my zetec s.
 

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£270 a month for 36 months, i can easily afford it just don't want to get ripped off got ripped off majorly when buying my zetec s.
That doesnt sound bad at all. youre only paying 1220 in interest. Better than buying a new car for sure. Plus you get a maybe a year of warranty left. Make sure you get it all checked over and etc. gotta remember its a sought after car with extras.

At the end of the day it is a fast car and you wont have to do much to it. its two years old already so wont depreciate that much more and its rare. besides 13k for an awesome vxr that is probs still in brilliant condition isnt a bad shout! I'd pay that if i could afford the insurance and petrol! ha!

always try going down in price though.. try for 11-12 k can always get a bargain from a dealer.
 

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Discussion Starter #7
That doesnt sound bad at all. youre only paying 1220 in interest. Better than buying a new car for sure. Plus you get a maybe a year of warranty left. Make sure you get it all checked over and etc. gotta remember its a sought after car with extras.

At the end of the day it is a fast car and you wont have to do much to it. its two years old already so wont depreciate that much more and its rare. besides 13k for an awesome vxr that is probs still in brilliant condition isnt a bad shout! I'd pay that if i could afford the insurance and petrol! ha!

always try going down in price though.. try for 11-12 k can always get a bargain from a dealer.
Yeah thats what i like about the nurburgring and the clubsports the rarity, also insurance is through the roof haha ive only just turned 18 but im prepared to pay the 1500 not bad considering i wrote off my first car, and yeah will be trying to get money off the car garages can always move on the base price.
 

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Yeah thats what i like about the nurburgring and the clubsports the rarity, also insurance is through the roof haha ive only just turned 18 but im prepared to pay the 1500 not bad considering i wrote off my first car, and yeah will be trying to get money off the car garages can always move on the base price.
1500's cheap! I pay not much off that for my 1.4t with a years no claims!
 

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Yeah thats what i like about the nurburgring and the clubsports the rarity, also insurance is through the roof haha ive only just turned 18 but im prepared to pay the 1500 not bad considering i wrote off my first car, and yeah will be trying to get money off the car garages can always move on the base price.
That sound way to cheap if u wrote a car of aswell

I was quoted 1800 for the burg and 900 for my vxr after my car has the handbrake fail it now gone up to 2000 but back down this year and the burg was a massive price more when I was looking st renewing
 

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lend the money off the bank at a cheaper rate?
+1 Didnt think of that.

I also think that at 18 with 1500 for insurance. This would tell me you're planning on doing some sort of additional driver thing where youre a named driver? Bad Idea. The police will pull you over or try and get evidence that youre not a named driver. In the end it's just bad.

The reason I'm saying this? One of my mates got caught out doing this with a bimmer when he was your age. He got pulled over every time a police car drove past. They then watched his house for a month... Took him to court and he still pays high prices on insurance.. for fraud! He even lost his job.

Get a lower spec unless you can afford the full price of insurance. It just isnt worth the hassle.
 

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+1 Didnt think of that.

I also think that at 18 with 1500 for insurance. This would tell me you're planning on doing some sort of additional driver thing where youre a named driver? Bad Idea. The police will pull you over or try and get evidence that youre not a named driver. In the end it's just bad.

The reason I'm saying this? One of my mates got caught out doing this with a bimmer when he was your age. He got pulled over every time a police car drove past. They then watched his house for a month... Took him to court and he still pays high prices on insurance.. for fraud! He even lost his job.

Get a lower spec unless you can afford the full price of insurance. It just isnt worth the hassle.
At 18 I had the vxr brand new all in my own name every thing was all myn finance aswell and it cost me 900 with the remus exhaust declared aswell
 

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+1 Didnt think of that.

I also think that at 18 with 1500 for insurance. This would tell me you're planning on doing some sort of additional driver thing where youre a named driver? Bad Idea. The police will pull you over or try and get evidence that youre not a named driver. In the end it's just bad.

The reason I'm saying this? One of my mates got caught out doing this with a bimmer when he was your age. He got pulled over every time a police car drove past. They then watched his house for a month... Took him to court and he still pays high prices on insurance.. for fraud! He even lost his job.

Get a lower spec unless you can afford the full price of insurance. It just isnt worth the hassle.
I dunno could be the location i was 1500 for my first car 1.0 corsa C that i wrote off i'm now £900 for my 1.2 D

myself and OPs location aint too far away inurance seems to be a lot cheaper up here than down south of England
 

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regards to insurance, new more expensive cars are cheaper to insure than older ones! my guessing : who wants to stove a £12K car? compared to say a £3K car? also better security features reduce chances of theft of the vehicle. would say that 7% apr a bit high. mine is 2.9% (granted that's courtesy of my mum effectively paying for it as I couldn't get credit, I just pay my mum back lol) but still, lower finance rates are available, but maybe not from these guys.
desperately want a corsa 'Burg. jealous!!
 

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Discussion Starter #16
+1 Didnt think of that.

I also think that at 18 with 1500 for insurance. This would tell me you're planning on doing some sort of additional driver thing where youre a named driver? Bad Idea. The police will pull you over or try and get evidence that youre not a named driver. In the end it's just bad.

The reason I'm saying this? One of my mates got caught out doing this with a bimmer when he was your age. He got pulled over every time a police car drove past. They then watched his house for a month... Took him to court and he still pays high prices on insurance.. for fraud! He even lost his job.

Get a lower spec unless you can afford the full price of insurance. It just isnt worth the hassle.
no the insurance will be in my name with two additional drivers, also i have access to a company car which brings the insurance down 400 quid
 
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