General How to explain the Panda to friends and family?!

[muz379]

If they're ford owners, they wouldn't know a decent car if they got run over by 1, lol!

I still laugh at one of my workmates who bought a current generation Ford KA because she heard "the fiat 500 is mechanically crap"

Dont get why with the advent of the internet people cannot do their own research anymore and instead listen to their dad whose mate bob heard in the pub that fiats are crap . It wouldn't have even taken 2 minutes to find out that the current gen KA is designed by fiat


I also laugh at the number of young people buying new cars on finance and not understanding the terms of the finance fully . I have another workmate who bought a brand new Polo with one of those "first year free insurance" deals .He failed to consider the cost of his second year of insurance and had to return the car loosing the money he had put into the finance deal and having to pay a load of early termination fees .

 

[The Beard]

So what is the Panda? It's a small cheap 5 door car. Cheep-ish to buy, cheap to run and cheap to maintain. It's only failed to start twice in 100,000 miles & each time it was the battery. It's got a nice big stereo with nice big buttons, high mounted that leaves plenty room for other controls. It cost £7K brand new. A friend bought a BMW 5 Series 2 years ago and when selling it a few months ago lost that amount. On that basis I could afford to push the Panda into a field and set fire to it and still lose no more than he did

 

[puntofan01]

I still laugh at one of my workmates who bought a current generation Ford KA because she heard "the fiat 500 is mechanically crap"

Dont get why with the advent of the internet people cannot do their own research anymore and instead listen to their dad whose mate bob heard in the pub that fiats are crap . It wouldn't have even taken 2 minutes to find out that the current gen KA is designed by fiat

You have to laugh and despair at retards like that, lol!

I also laugh at the number of young people buying new cars on finance and not understanding the terms of the finance fully . I have another workmate who bought a brand new Polo with one of those "first year free insurance" deals .He failed to consider the cost of his second year of insurance and had to return the car loosing the money he had put into the finance deal and having to pay a load of early termination fees .

I know that we need people to take out those deals so that the likes me and yourself can have 2nd hand cars, but buying a car on finance is just plain risky.

I know it means I'll always be driving a relatively old car, but for as long as possible, I intend to just get the newest car I can afford, and buy it outright.

 

[muz379]

I know that we need people to take out those deals so that the likes me and yourself can have 2nd hand cars, but buying a car on finance is just plain risky.

I know it means I'll always be driving a relatively old car, but for as long as possible, I intend to just get the newest car I can afford, and buy it outright.

This is true I guess we should really be thanking people like that for an ever ready supply of second hand cars .

As I said in my first post in this thread I would rather drive a 10 year old car like my panda and pocket the change vs paying finance for a brand new car which even for something like a brand new panda would be around the £100 a month mark . I have many other things I would rather be spending my money on than a car to get to and from work .

If I ever buy a car I cannot afford the full cost of outright I would never go with dealer / second hand car trader finance . I would loan the money from the bank at a much lower APR and own the car outright . That way if you ever have financial difficulties you can sell the car and clear as much of the loan as possible . Again I do not get why more people do not do this . I get that some people do not have the credit score or may already have bank loans . But I know loads of people who could do this who would rather pay arnold clarke / evans halshaw 20% apr finance .

 

[SB1500]

This is true I guess we should really be thanking people like that for an ever ready supply of second hand cars .
If I ever buy a car I cannot afford the full cost of outright I would never go with dealer / second hand car trader finance . I would loan the money from the bank at a much lower APR and own the car outright . That way if you ever have financial difficulties you can sell the car and clear as much of the loan as possible . Again I do not get why more people do not do this . I get that some people do not have the credit score or may already have bank loans . But I know loads of people who could do this who would rather pay arnold clarke / evans halshaw 20% apr finance .

This is GREAT advice, I think if I ever want a new car but don't want to spend the entire block of cash all at once I'd go to the bank. Much friendlier to deal with than a car company! Surprised this isn't a more common mechanism? (or is it?)

:worship:

 

[muz379]

This is GREAT advice, I think if I ever want a new car but don't want to spend the entire block of cash all at once I'd go to the bank. Much friendlier to deal with than a car company! Surprised this isn't a more common mechanism? (or is it?)

:worship:

I dont know how common this is . But if you look at most major banks they will advertise their personal loans as being for things like cars . house renovations ,debt consolidation and holidays among other things . Not that it matters to the bank what you do with the money as long as you make your repayments . Im guessing there are lots of people out there who will do this .


The only snag with this is it is unsecured credit so you have to have a really good credit score to be able to get a loan from the bank especially one with an APR worth having .

But if you can the savings are massive . My bank will loan your £5000 over whatever term you want upto 7 years at 4.9% . The apr goes down if you loan even more . Ive never seen second hand dealers finance go that low . I have seen the brand new cars with 0% finance offers . however they are making the money off you by buying a brand new car in the first place .

Not to mention you can obviously negotiate price a lot better if you have cash to buy the car outright .