Looking for a new/used car

RepSpec · 18-07-2010, 01:20 PM

hey all
my girlfriends current car '97 honda accord is on its last legs (done 250km, rear main leak, bad brakes, ect) and am tossing up the idea of trading it in on a new/demo/second hand car. she has personal loan on the car of its value almost.
i need a bit of help, do we trade it in, and get finance on the new car and the amount to cover the loan or fix the problems (which could run into 2-3k) and then still have an older car.

also what would be a good car to upgrade too. i have been looking at hyndai getz for there low price and good factory warranty, but am open to suggestions. has to be an auto :rolleyes: and not too big, ie large sedan/wagon under 15-16k.
cheers

duaned · 18-07-2010, 01:58 PM

A Suzuki Swift should fall into that budget and are great small cars.

FreddyDUZ747 · 18-07-2010, 02:27 PM

Auto T/Diesel i30,they are nice to drive and safe to boot.Will always have better resale due to the trend of T/D cemented now.Brilliant engines imo.

benoxr · 18-07-2010, 02:36 PM

I suspect she may have trouble obtaining permission to sell it from her finance company if she owes more than what its worth.
Even trying to trade it in, a car yard would have to obtain a payout figure and may not do the deal until they can see the old loan will be paid out first.
If you did mange to get new finance for the new car plus the residue of the Honda loan, she would be on a loan for far in excess of the market value of the new car bought. So that wouldnt be a very good start. At some stage down the track, she will be in exactly the same position as now, owing a new car worth 10 grand but still owing 15 grand and needing to spend on repairs.
Somehow she needs to have a better deposit towards the next loan. Sorry, I know that probably doesnt help much.

RepSpec · 18-07-2010, 06:01 PM

it does help. she is in a better position than she was when she brought the car originally so that could help in securing a better loan through finance.

Yellow_Festiva · 18-07-2010, 07:41 PM

Nissan is selling the Auto Micra for 14,990 drive away at the moment.

Was going to buy one for the bride to be but she likes her current car and wants to get a few more years out of it, especially after just doing a major service a few months ago.