New Car

Old Nov 6th 2010, 11:38 am
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Default New Car

Before i go speak to the bank has anybody in DXB changed their car with a loan agreement on it?

I just want to know if they're transferable or whether I'd have to settle the current finance then take out a new agreement.
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Old Nov 6th 2010, 11:47 am
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Default Re: New Car

You have to settle the existing agreement. I take it you are part exchanging your current car? All OK if you owe less than the value of the car. However, if you owe more, then you have 2 options. Settle the remainder in cash or find a friendly dealer and try the following......
Remember, you can only borrow at a maximum what the new car is worth, so, you can't borrow extra to pay for your outstanding finance. So, what you do is look for one of the many deals at the dealers. Find a car which has been discounted heavily, then get them to write the cost of the car up to cover your outstanding amount. This of course will only work if the cost of the car plus your outstanding finance does not exceed the current list price. Hope this makes sense. To give you an example, I own a Charger which has taken a massive hit on the used market. I owe about 60k and it's worth 45k in the trade (more if you sell privately, but a real pain in the a**) During Ramadan, Chevrolet were offering the CR8 for 120k, down from a list price of 183k. So, sell me the CR8 at 135k, I still get a deal, extra 15k pays off outstanding finance and I get a new car for no cash outlay.
Great plan.....except by the time I got there they'd sold out of the bloody things! Hope this helps.
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Old Nov 6th 2010, 12:24 pm
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Default Re: New Car

anything else of special offer like that? I am selling my car and on the look for something new, was just going to get another Pajero though as I have been so happy with this one
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Old Nov 6th 2010, 12:37 pm
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Default Re: New Car

Originally Posted by GuyinUAE View Post
You have to settle the existing agreement. I take it you are part exchanging your current car? All OK if you owe less than the value of the car. However, if you owe more, then you have 2 options. Settle the remainder in cash or find a friendly dealer and try the following......
Remember, you can only borrow at a maximum what the new car is worth, so, you can't borrow extra to pay for your outstanding finance. So, what you do is look for one of the many deals at the dealers. Find a car which has been discounted heavily, then get them to write the cost of the car up to cover your outstanding amount. This of course will only work if the cost of the car plus your outstanding finance does not exceed the current list price. Hope this makes sense. To give you an example, I own a Charger which has taken a massive hit on the used market. I owe about 60k and it's worth 45k in the trade (more if you sell privately, but a real pain in the a**) During Ramadan, Chevrolet were offering the CR8 for 120k, down from a list price of 183k. So, sell me the CR8 at 135k, I still get a deal, extra 15k pays off outstanding finance and I get a new car for no cash outlay.
Great plan.....except by the time I got there they'd sold out of the bloody things! Hope this helps.
That is an incredible deal. So what have you done? Gone for something else?

Money wise i'm ok with the loan as the car is worth what I owe at the very least. I'll have a cruise round the dealerships though and see what's around. I need something fast (as in speed quick, not time). Just don't know what.
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Old Nov 6th 2010, 12:41 pm
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Default Re: New Car

Originally Posted by CeeBee View Post
That is an incredible deal. So what have you done? Gone for something else?

Money wise i'm ok with the loan as the car is worth what I owe at the very least. I'll have a cruise round the dealerships though and see what's around. I need something fast (as in speed quick, not time). Just don't know what.
fast, I would get a Dodge charger or that new VW Sirroco
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Old Nov 6th 2010, 2:04 pm
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Default Re: New Car

Camaro every time. Great looking car and the V6 is quick enough, unless of course you really fancy the V8.
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Old Nov 6th 2010, 2:07 pm
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Default Re: New Car

Originally Posted by benzonar View Post
Camaro every time. Great looking car and the V6 is quick enough, unless of course you really fancy the V8.
they are nice, how much are they?
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Old Nov 6th 2010, 2:14 pm
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Default Re: New Car

Originally Posted by CeeBee View Post
That is an incredible deal. So what have you done? Gone for something else?

Money wise i'm ok with the loan as the car is worth what I owe at the very least. I'll have a cruise round the dealerships though and see what's around. I need something fast (as in speed quick, not time). Just don't know what.
Well, sitting tight for now until something equally juicy comes up. Might keep my Charger another year, till Ramadan comes around for more deals. Camaro is still on my hotlist, so is the new Mustang 5.0. There's enough cheap american muscle about.

Sit tight if you're thinking Charger, the new one comes out next year, so you could always get a deal on an old model R/T which may solve any neg equity issues. Whatever you do, don't go European....trust me!
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Old Nov 6th 2010, 4:00 pm
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Default Re: New Car

Originally Posted by Blue Cat View Post
they are nice, how much are they?
V6 RS model is about 140k but you could haggle. V8 is about 173k - not as cheap as they are in the US but you still get a lot of car for the money. Had mine 5 months now and its been perfect.
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Old Nov 7th 2010, 11:55 am
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Default Re: New Car

Originally Posted by benzonar View Post
V6 RS model is about 140k but you could haggle. V8 is about 173k - not as cheap as they are in the US but you still get a lot of car for the money. Had mine 5 months now and its been perfect.
they would look good with a pair of Oakley Radar's
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Old Nov 7th 2010, 4:32 pm
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Default Re: New Car

Originally Posted by Blue Cat View Post
fast, I would get a Dodge charger or that new VW Sirroco
You'd pass on my Charger for a Scirocco? Thought you liked it!
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Old Nov 7th 2010, 5:23 pm
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Default Re: New Car

Camaro or a Challenger
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Old Nov 8th 2010, 3:13 am
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Default Re: New Car

The 2011 Muzzie still beats the Camaro, Charger and Challenger hands down:

"These numbers have the 2011 Ford Mustang GT handily beating the last Chevrolet Camaro SS and Dodge Challenger SRT8 we tested".

Review here:

http://www.edmunds.com/ford/mustang/2011/testdrive.html
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Old Nov 8th 2010, 3:15 am
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Default Re: New Car

Originally Posted by Oyibopeppeh View Post
The 2011 Muzzie still beats the Camaro, Charger and Challenger hands down:

"These numbers have the 2011 Ford Mustang GT handily beating the last Chevrolet Camaro SS and Dodge Challenger SRT8 we tested".

Review here:

http://www.edmunds.com/ford/mustang/2011/testdrive.html
but a cheap nasty interior
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Old Nov 8th 2010, 3:18 am
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Default Re: New Car

Originally Posted by Ray View Post
but a cheap nasty interior

don't they all?
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