MunkeyboyRS

Hi all, I was given a bit of a mad idea by a mate last night down the pub. Since my rst coming off the road back in jan, Ive managed to live without a car, not needing one for work or really needing one for socially, till now.
What my mates idea was, to buy a mk1 foc rs on finance, keep it till the winter then when Ive got my rst finished and then sell it, and fingers crossed not lose much money on it.
What dose anyone think is these a good idea or a mad idea?
It would only be use when I wanna good out to see friends, so not a great deal of mile on it.
Cheers Dave

Lambchop

iTrader: (1)

Silly idea imo.

Ace cars though and mine is for sale. I don't do finance though

MunkeyboyRS

Its been one of those car Id like to own and drive, and I thought if i could pick one up for under 10.5k on finicance and low apr and then sell it for as close to the price i got it for, I would lose much. plus I could tick another rs off my list, but I couldnt trade my rst in for one tho, as I love gemma too much.

andy888

the car maybe wouldnt lose much value wise but 10k of tic is around 280 per month x how many months you have it.

MunkeyboyRS

think, Id keep it till maybe Dec and Jan. Its still every much an idea at the mo

matts1

not a bad idea but you have to also consider:

Early repayment fines on the loan
insurnance costs for the car
will it need tax and or mot redoing
any unforscene fixes required
interst on the loan

There have been some a fair bit cheaper than 10k, cat d's etc for 6-7k, not ideal but maybe less of a risk and less on monthly repayments.

MunkeyboyRS

I'm still going to think about it, but I dose look abit of a mad idea, did look at some one like 6-7k and cat ds but thinking they'd be the harder one to keep the money on.But now also thinking about more sensible car if I could do it with that.

vaughant

iTrader: (1)

If u can afford it,do it!!!I can't but hey!!seriously though I wish I'd bought one on finance when they came out through ford as I'd have got it quite cheap and in all honesty you only live once and if it's within your means then do it.I wouldn't buy something like that as an" investment" really as it's a bit pricey to run but you won't lose too much on it and if you stab the guy when you buy it then you'll offset the loss later on.

turbochild

why not just buy a shitter for a few months then sell that? instead of getting into debt

S1

Get it bought, after a few weeks you'll probly think twice about spending any more money on the RST and will most likely end up saving money in the long term!