Chiclanagir

Just been looking at whether it is worth buying a new car and seen that Skoda have 0% finance on their new Fabia. Any other deals around and what is it like getting finance in Spain. We have the income but it is in pensions.

Mitzyboy

A skoda? Gulp

I've never bought a new car, and I don't think I ever will. Mainly in the past because of the huge amount of money you lose when you drive it off the forecourt, but now because it would take about a week before it was dented by some thoughtless mindless prat opening a car door into it. I personally just dont think its worth owning a decent car over here :-(

Rotor

Residual values are the very important words here , find out what a Fabia cost 4 years ago and look at what they are selling for now in the private sales add`s work out the value percentage drop

If I needed to borrow I`d go to the banks for the best deal then look at 24 to 35 month old cars (still under manufacturers warranty so long they have been serviced correctly) ,you can always get a better deal with cash in your hand and no part exchange.

Beware of Skoda stigma when you come to sell, its still on dealers minds if not joe publics

Rotor

There are ways of avoiding car body damage in Spain

Chiclanagir

Nothing wrong with Skoda they are made the same as VW´s. The trouble with secondhand over here is that you are paying way way over the odds. Completely different to the UK. Therefore I think a new car at 0% interest would be better value. In the UK I always did personal contract purchase.

Rotor

Residual values! VW are much better than Skoda!

Chiclanagir

[QUOTE=Rotor;8821075]Residual values! VW are much better than Skoda!

Residual values don´t mean a lot if you are going to have the vehicle for a long time. Yes, if you are expecting to change every couple of years but I´m not. Plus you are paying a lot more initially for what is the same car but with a different badge. I used to work for VW and Audi and drive a VW which I bought as an ex-demo and have had for 10 years. But 10 years later it is not worth much in residual value. A new car would be for the same period. Plus nowadays you can get service for 3-5 yrs included and guarantee, plus roadside assistance. This brings the running costs down considerably from an older vehicle.

Mitzyboy

Iirc VW made the Bugatti Veyron as well, but there aint much comparison

Yes you are paying over the odds for sure. It doesnt alter the fact though that when you jump in the seat of your shiny new car and drive it out of the door you are throwing money out of the window as you go.

As Rotor said .. buy something that is relatively new and with lowish mileage. It took maybe a month before someone scraped the side of my car after I bought it. Since then its suffered various scrapes, mainly when parked in the street or at a supermarket. Had it been a new car I would have been well miffed, but it was a couple of years old and I've just had to accept that people in Spain dont have that much respect for cars.

Skoda have a name that has lived with them for years. I'm sure they are perfectly good cars but, hey, its a bit like buying a Trabant to some people

Chiclanagir

Hardly...........I still think that your argument holds good for buying a used car in the UK as prices are that much lower but not in Spain. I take your point about the crazy drivers but financially I still hold that if you can get 0% finance, 3-4 yrs guarantee plus servicing you are getting a better deal. Anyway my point about whether I would even get finance here still holds.

Rotor

Sounds like youve convinced yourself that Skodas are the way to go

Chiclanagir

Oh no, if I had my way it would be a Mini and if I could get a good deal on that I would be so sorely tempted. This is one thing that I do miss in the UK my Mini which we sold when we came here as we couldn´t have two cars and the VW was more practical.

Mitzyboy

Its a good point
I havent taken anything on finance since we came here but I often wondered if it were possible. My bank wouldnt even give me a €500 overdraft facility just in case my balence dropped low before my monthly transfer came in, or was delayed

Chiclanagir

Exactly.............. I could prove that I had enough income for monthly payments but I wouldn´t pass a credit check or in the UK for that matter. That is another problem for people returning to the UK - credit checks.

HBG

I would not borrow money to buy anything at the moment, but in answer to the question whether it's possible, yes, it is; even for a car.

I have an expat friend over here, who has a half-decent, regular pension income, and he has never lost the UK habit of always having some sort of debt, he seems to thrive on it.

He's asked me whether he should take on a new car at the moment because of some super deal on offer, I don't know if it's a Skoda, but it costs around 19K and the repayments are at 0% finance with life insurance thrown in for 'free'.

The repayments seem very low and I asked him over the length of the term. He neither knew or cared. He's obviously going to ignore my advice and go ahead and his wife is tearing her hair out.

He only uses his car around once a week to go shopping!

agoreira

Indeed, and that's why you'll pay a couple of grand more for an equivalent VW. If worried about the Skoda name, but a Seat. Car sales in Spain are down nearly 30% for the fist two weeks of August, mainly due to stopping Plan 2000E. So might be a good time to do a deal.