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

[BoobiesToTheRescue]

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.

I’d buy outright personally. £8k is more than I’ve ever spent on buying a car so I’d feel very posh But maybe if there was a big difference between an £8k car and the one I really wanted then I’d have 1yr on finance. I’m quite cautious financially and would be worried about Brexit meaning rising costs and that being tied into a repayment plan could mean we were short of money if things like food/fuel costs increase.

Depend on the size of car you want. Would go for ex demo from Hyundai, Toyota or Kia who have 5 year warranties

I’ve just bought a 14 plate Passat estate for that money. It’s gorgeous. Definitely wouldn’t get finance for a car as the interest rate is extortionate

@BoobiesToTheRescue it might be luck but you're also looking at spending 8k vs. the 2k you've spent in the past.

So you'll be getting a car that was originally much more expensive and presumably one that has even lower mileage than your previous vehicles.

Most second hand car purchasing is luck. I know people who have bought nearly new cars that have had loads of issues after only six months - spending more doesn't necessarily get you a better deal.

Personally I wouldn't go into debt over a car, especially a second hand one. And especially not to the tune of having already paid an 8k down payment.

I'd probably do option A. But I'm not a car person at all and know I could buy a car I'd be happy with for £8k and have no debt.

We always buy outright. Why take out a loan and pay interest on a depreciating asset?

I'd rather buy outright. I want my own car. I don't want to rent a car.

I would never ever buy on finance as you just don’t know what will happen.
You could get something really nice for 8k.

Depends what you want. We are struggling to buy a car up to 3 years old for £10-12k because we need it to fit three car seats. Most of the large 'family' cars only fit three cars seats if you stick one in a seat in the boot which I don't want to do.

Dirtystinkyrats- have you had a look at Picassos? They would fit 3 car seats in the back