Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Please note that it is not permitted to have referral links posted in your signature. Keep these links contained in the appropriate forum. Thank you.

https://www.boards.ie/discussion/2055940817/signature-rules
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Should I buy it..

  • 03-10-2010 4:23pm
    #1
    Fittle
    Registered Users, Registered Users 2 Posts: 2,775 ✭✭✭


    My sister has offered me her car. It's a 2005 toyota yaris with 4,000 miles on the clock (hardly used). She wants me to take over the repayments on it (we would do that side of things legit) - its 244 pm for another 19 months, which means I'll be paying 4636 for it.

    Is this a good deal? Keeping in mind that I have no chance of getting a car loan in the forseeable and badly need a car.....?

    Appreciate your advice, thanks.


Comments

  • #2
    -Corkie-
    Closed Accounts Posts: 10,025 ✭✭✭✭-Corkie-


    It is a good deal considering the low genuine mileage.


  • #3
    djimi
    Registered Users, Registered Users 2 Posts: 13,237 ✭✭✭✭djimi


    Providing she has kept it well maintained, ie regular servicing despite the lack of usage, then its not a bad deal.


  • #4
    Fittle
    Registered Users, Registered Users 2 Posts: 2,775 ✭✭✭Fittle


    The car is spanking new. It's had a service every year (she bought it brand new). She got quite anxious driving and only drove 2 routes every week....she's not driving anymore (for the past 2 months) and it's sitting in her driveway...just wanted to check if it was a good deal for me before I say yay or nay. Thanks


  • #5
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,764 ✭✭✭✭Atlantic Dawn
    M


    Careful that when you get the car that you are the named owner otherwise your insurance policy will not cover you if it's still in her name. You might run in to problems transferring ownership to you with money still owed on the car.

    Otherwise sounds a good deal.


  • #6
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    The deal sounds ok and if you sister has an unsecured personal loan on the car it will be very straight forward in that she can sell you the car as no bank has ownership of the car. If she has car finance on it,she will have to officially clear the outstanding amount before ownership can go to you. For the repayment to be transfered to you, you will need to qualify for the finance.


  • Advertisement
  • #7
    Fittle
    Registered Users, Registered Users 2 Posts: 2,775 ✭✭✭Fittle


    Ok, I'll check out the finance deal on it.

    Worst case scenario..if I don't qualify for the finance...can she 'sell' it to me at some point i.e. I'm sure I can get the car in my name once the repayments are made and in the intermin, can I be the named driver etc...?

    Hadn't thought of all of the above...


  • #8
    EPM
    Closed Accounts Posts: 13,822 ✭✭✭✭EPM


    Well if you are sole user there are insurance implications also to you being on it as a named driver


Advertisement