Active discussions

Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Talk
Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

Original poster

If you had 8k to spend on a car and you would never get this opportunity again, would you....

35 replies

BoobiesToTheRescue · 07/04/2019 10:05

Buy a (family car) for 8k.

Or buy a very new car (say 1-2 years old) with an 8k deposit and pay monthly for whatever the rest would be?

Needs to be an estate or SUV, so not a small car.

OP posts:
beachyhead · 07/04/2019 10:06

Buy outright....

Fazackerley · 07/04/2019 10:07

Possibly the second option if there was a good guarantee left on it

PotteringAlong · 07/04/2019 10:08

Second option.

Interested in this thread?

Then you might like threads about this subject:

General money
IloveJudgeJudy · 07/04/2019 10:18

Second option from me, too.

Fairylea · 07/04/2019 10:20

I’d actually do something different. I’d put the £8k down as a deposit / towards it and borrow the rest on a very cheap personal loan or even 0% credit card and pay it off that way to get the newest car we could. We did this to get our Kia which has been wonderful and with a 7 year warranty you can’t really go wrong. Would definitely buy another.

NowIKnowHowJoanFelt · 07/04/2019 10:24

We are in this position at the moment. We have 11k, the car DH wants is roughly £27k..I'm on probation at my job (which I ADORE,but that doesn't mean I am any good at, or will get kept on)..it's a huge commitment. I'm terrified.

hidinginthenightgarden · 07/04/2019 10:29

I'm with fairylea - put 8k on deposit and the rest on credit card.

Shmithecat2 · 07/04/2019 10:29

Buy outright. We've always bought good 2nd hand cars outright. Tbf, we could buy a decent brand new car outright, but I cannot bare the thought of the immediate and susequent depreciation.

SpoonBlender · 07/04/2019 10:34

If you can't find the car you want for £8k, buy a 3yo with £8k deposit. Why the keenness to overspend on a 1-2yo which'll still be rapidly depreciating?

I've always done the 3yo, usually fresh out of a Mobility scheme. £8k will get you an originally £24k car that way.

PostNotInHaste · 07/04/2019 10:36

Buy outright, that’s enough to get decent car tha5 could keep you going for years. But that’s my view and yi6 may well, have very different feelings on the whole car thing so do what you want to do.

IWouldPreferNotTo · 07/04/2019 10:40

I'm a fan of buying cars outright and picking reliable brands. A two year old car can still have issues which may not be covered by warranty and while there is a chance of garage bills that's part of owning a car. For £8K you could get a decent SUV for that.

Also if you're going down the SUV route you're already expecting higher bills. Four tyres on my SUV just came to £600 and would have been £350 on a smaller car.

Even little things like oil changes are more expensive due to the amount of oil it holds.

Mississippilessly · 07/04/2019 11:29

Do you have anybody around that knows about cars? We have always bought outright and been hugely lucky. But if you have someone who knows what is what under a bonnet it might give you a bit more security?

Letterkennie · 07/04/2019 11:32

I’d go to the car auctions with it in cash in my arse pocket and pay for it outright.

jackparlabane · 07/04/2019 11:47

We did the former. Lots of 3-4yo Galaxy/Sharans for that price.

MidnightLavender · 07/04/2019 12:50

What @fairylea said.

Squeegle · 07/04/2019 12:58

Buy outright, you can get a decent car for that. If you get a Toyota (which I would recommend) or another reliable brand. Alternatively get 0% for the rest. Don’t do a PCP or car dealer loan. Too expensive.

Clutterfreeintraining · 07/04/2019 20:45

I bought a 3 year old, ex-mobility, family car for £8k. Before that, I'd been spending between £1,500 and £2k per year on old bangers! I've had the car 5 years next month and it still feels like a new car - compared to what I'd been used to driving Grin

negomi90 · 07/04/2019 20:52

I spent £4k on an 8 year old mini convertible 5 years ago.

Get a good second hand car, then you don't have to worry about debt.

trilbydoll · 07/04/2019 20:56

I'd get a loan / credit card and top up the budget to £12k max. Then go for 2-3 years old and lowest mileage I could find.

DramaAlpaca · 07/04/2019 20:58

I'd buy outright to avoid debt.

Original poster
BoobiesToTheRescue · 08/04/2019 06:41

Real mixed bag here!

I thought it would obviously sway one way or another but it doesn't seem to be.

Thanks for the advice.

OP posts:
CatToddlerUprising · 08/04/2019 06:45

If you went with option two- would you actually own the car at the end of it? Or would you have to find another lump sum to own it?

adaline · 08/04/2019 06:48

I would buy outright.

My car was less than 2k when I bought it and it's never had any issues. It's fifteen years old and runs just fine.

Original poster
BoobiesToTheRescue · 08/04/2019 06:49

I would get finance and own it after 2 years.
So basically just a loan on the last bit of it.

I would own it from the second I bought it.

OP posts:
Original poster
BoobiesToTheRescue · 08/04/2019 06:50

adaline that's pure luck.

I've owned several cars 1.5k-2k, all low mileage, one previous owners full service history etc etc

And all have died after 1-3 years later.

OP posts: