I have no idea about vehicle finance

[hobbgoblin]

My car is old and cheap and I bought it outright. I'm going to have to upgrade to an MPV when the baby is born and am just wondering how finance works out monthly.

Let's just say a car I am looking at costs £19 000. What would typical monthly finance be on that.

I think the budget is going to be about £200 or so a month.

You can use sites like this tesco one to find out what the repayments would be on a particular loan amount. So, for example, your £19,000 over 4 years would come out at £462.80 a month, which is way above what you're hoping for. So you can look at a cheaper car and/or paying over a longer time - but with that you need to make sure you're not paying for it long after the car has given up the ghost!

I'm wondering the same thing. I was thinking of doing monthly payments, but for a 2nd hand or nearly new car. Has anyone found good deals out there?

Fiat has some good deals but I don't know if they do big family cars?

hobbgoblin, depending on what your credit rating is like, and how much you're spending you could always go for a credit card instead.

we were going to take out a loan for our new car, but it was going to be really expensive.
so we got a 0% interest rate credit card and put it on that instead lol
we were charged a fee to pay by CC but it was nowhere near what we'd have paid in interest on a loan

I think the car dealers do all sorts of convoluted (sp?) deals where you pay a deposit of a couple of thousand and then a monthly amount of something like £200 for 3 years. At the end of the three years you either buy the remaining amount owed or you upgrade the car and start all over again. I think this is how a lot of people do it. Well, anyway this is what we were offered when we bought a car from new about 9 years ago.

Thanks for this info. It has thrown some light on a subject which I know zilch about. I may have to look at swcond hand I think, given what's been suggested but that's fine. My car is quadruple hand