After searching for a bangernomic, given up and now looking to loan for Lexus CT200H

LeakingLava

Hey guys, I've been asking for a lot of help in the bangernomics thread but haven't seen the right car. I am now looking to get a loan from a bank to purchase a Lexus CT200H. I have seen some around with asking price of around 11000 and above. I was just wondering apart from the first few results from google, is there another place that I should check for possible options? Also, let's say the price in a dealer was 11000, how much would you offer going in with cash? 9500? 10000?

Thank you all for your help so far. I'm really grateful for all suggestions. Thanks again.

Atlantic Dawn

Could be worth looking in NIRL or UK for one, however most banks will insist on the payment going to a ROI dealer. You are unlikely to get your first offer accepted so best bid low but not so low as to insult, I'd try offering 80% of asking price and hope to meet somewhere around 85-90.

LeakingLava

Atlantic Dawn wrote: »

Could be worth looking in NIRL or UK for one, however most banks will insist on the payment going to a ROI dealer. You are unlikely to get your first offer accepted so best bid low but not so low as to insult, I'd try offering 80% of asking price and hope to meet somewhere around 85-90.

Thank you very much. I didn't even know that they cared. I thought it was just money going into the account then we can use it however we please. Apologies for being a proper noob on this, I haven't ever done it before and have no idea how things actually work. That was stupid of me to assume.

I'm specifically going for AIB Car Loan. I think there is a difference between the AIB Car Finance (Hire Purchase) and AIB Car Loan. Not entirely sure how different the procedures are, though. Anyone have any ideas?

bbbbb

In terms of price negotiation room, I would look at one of the uk car supermarkets. E.g. Cargiant.co.uk
Do the vrt calculation and currency conversion and add a few 00 more for a flight and car ferry.
Allow also for the benefit of a local guarantee.

LeakingLava

bbbbb wrote: »

In terms of price negotiation room, I would look at one of the uk car supermarkets. E.g. Cargiant.co.uk
Do the vrt calculation and currency conversion and add a few 00 more for a flight and car ferry.
Allow also for the benefit of a local guarantee.

Sadly can't seem to afford any of the CT200H options that they have on that website. I am also on a bit of a tight schedule in terms of needing a vehicle. Grateful for the suggestion though, and if had more budget and time, I probably would've tried to get a car from the UK.

I was looking at possible options from the Northern Ireland(if the bank allowed), how do I start looking? I can't seem to filter Belfast/Antrim on UK used car websites. And the website called usedcarsni doesn't seem to offer a lot of alternatives. They offered similarly priced ones, lower mileage, but I would still probably prefer to just get one here due to time constraints.

colm_mcm

Have you had a go of one yet?

LeakingLava

Hmm. That's actually a good point. I haven't. Will test one out on Wednesday and see how it goes.

The only real reason why I chose the particular model is because they really catch my eye on the road. I always thought that it was just one of those cars that I wouldn't get tired/bored of.

I have tried out an old model prius before, though. It was quite a cool experience in my opinion. This is also one of the reasons why I sincerely thought that I wouldn't mind a hybrid and just decided that I wanted one.

Is there any particular reason why you have asked the question? Apart from the obvious testing out the condition of one of course.

colm_mcm

The boot is very small which can be offputting.

LeakingLava

I would definitely check that out when I go look at one on Wednesday, but I'm just trying to think of the way I use my current car and there's barely anything that I put into the boot. Though I would probably need it someday in the future, so will definitely check this aspect out.

Would you suggest another car altogether to look at? Would an auris be similar to it?

Stallingrad

LeakingLava wrote: »

I would definitely check that out when I go look at one on Wednesday, but I'm just trying to think of the way I use my current car and there's barely anything that I put into the boot. Though I would probably need it someday in the future, so will definitely check this aspect out.

Would you suggest another car altogether to look at? Would an auris be similar to it?

The CT200 is generally regarded as a pretty average car, and certainly a poor effort by Lexus.

kirving

You can get a personal loan that will go directly to your account. You just say you want it for a car.

AIB Personal Loan

Pro
Directly to your account, can be used for anything
Early repayments with no penalty (easier if you want to sell the car)

Con
Since it's an unsecured loan, you will get approved for less money
Higher interest rate


AIB Car Loan

Pro
You'll be approved for a higher amount far more easily as is it is secured on the car
Lower interest rate

Con
More rigidly set to a 3 year term, penalty if you want to repay early (ie: you pay all the interest)
Messier if you want to sell the car before it's paid off.

kermitpwee

The suspension on the ct is very hard, unless the roads you drive on are of motorway standard i would get a prius tbh.
The ct does look very good in certain colours and can be had in nice spec.

Passengers will feel the hardness of the ride even more than the driver, the boot is also very small, nice in White and Fuji red imo.

LeakingLava

Thank you guys. I will look into the option of the prius.

Should I also look into the Auris hybrid? I just personally like its looks better than the prius, but I was just wondering if there was negative points about it.

kermitpwee

LeakingLava wrote: »

Thank you guys. I will look into the option of the prius.

Should I also look into the Auris hybrid? I just personally like its looks better than the prius, but I was just wondering if there was negative points about it.

Drive the ct and see what you think, I know I said id get a Prius but you might not find a problem with the ct suspension. What are you currently driving? My sister has a ct and loves it. You really need to drive one

LeakingLava

kermitpwee wrote:

Drive the ct and see what you think, I know I said id get a Prius but you might not find a problem with the ct suspension. What are you currently driving? My sister has a ct and loves it. You really need to drive one

I'm currently in a Scenic. But I have essentially lived in a MK2 Punto for 13 years before. I will definitely try one out, most likely wednesday. Thank you very much.

LeakingLava

Just a bit of an update. It seems like we have been approved for a loan. So basically have around 10k. I have arranged for a meet with the owner of this vehicle: https://www.donedeal.ie/cars-for-sale/car/18383176

Would you guys suggest that a FSH is absolutely necessary? When I callled him, he has said that he didn't bring the car to Lexus officially so didn't have the service book stamped or anything, but he did say he got it serviced regularly.

What's on my mind at the moment about the car is the FSH vs. spec as this is a higher spec(and lower mileage) than the other ones that dealers are selling. For example, https://www.donedeal.ie/cars-for-sale/lexus-ct200h-1-8-cvt-se-hybrid-model-alloy-whe/18387884 .

This is all pending the test drive result of course. The criteria being, if I'm comfortable enough in the car and if my partner agrees with me.

EDIT: I have also seen this one, which is a considerably higher mileage than the others, but with FSH and the spec I want. https://www.adverts.ie/car/lexus/ct-hybrid/lexus-ct-200h-se-l-premier-cvt-1-8-hybrids-135-bhp-6-speed-auto-top-of-the-range/14260474

bazz26

The first one is a UK import. Does it have any service history at all? Most UK imports have at least a UK service history. I'd also run a history check on it. 12k seems expensive to me for a 7 year old CT200h being sold privately.

You'd bring a 2012/2013 model in from the UK for not much more as VRT is pretty low on them.

For example:
https://www.autotrader.co.uk/classified/advert/201802213921540?year-to=2013&sort=price-asc&onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&year-from=2013&make=LEXUS&radius=1500&advertising-location=at_cars&postcode=bt153jx&model=CT%20200H&page=2

LeakingLava

bazz26 wrote: »

The first one is a UK import. Does it have any service history at all? Most UK imports have at least a UK service history. I'd also run a history check on it. 12k seems expensive to me for a 7 year old CT200h being sold privately.

You'd bring a 2012/2013 model in from the UK for not much more as VRT is pretty low on them.

For example:
https://www.autotrader.co.uk/classified/advert/201802213921540?year-to=2013&sort=price-asc&onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&year-from=2013&make=LEXUS&radius=1500&advertising-location=at_cars&postcode=bt153jx&model=CT%20200H&page=2

I haven't asked as I didn't even know that it had a UK history at all. But going into the meet, I would probably bank on the fact that it doesn't have anything. And, yes, I will definitely do history checks on any car I plan on going for.

Would you be able to walk me through the process of getting a vehicle from the UK? Because if the car is already £10500, which is around €12000(google exchange rate), it seems like it's impossible for my budget, without VRT, and shipping involved. So even if I haggled down to around €10000, I wouldn't have the budget for the VRT and shipping anymore.

Although, I do understand that that particular is example is far better than the examples here. I just don't think that I can afford it.

I wasn't planning on paying the full amount on the 12000 by the way. I was planning on paying around 10000 which is around the right percentage of the advise given here.

colm_mcm

Every asking price isn’t 20% over where it should be though.

LeakingLava

colm_mcm wrote: »

Every asking price isn’t 20% over where it should be though.

I understand. Roughly how much would you think to offer on any of the examples posted above? I just don't see much examples around apart from dealer ones that doesn't have extras so I can't compare much.

LeakingLava

Also found this one but I didn't think I could get it down to 10k as it was a dealer. Do you guys think it's possible? http://www.murphydoyle.ie/vehicles/lexus/ct/dublin/1974915

bazz26

My point really was that the 2011 one is overpriced when you can import a 2013 one for about 2k more.

kirving

I recently imported a car, very smooth process so far. There's a thread here on it, and you'll get any advice you ask for. Sorry can't link to it on mobile site easily. I'd definitely recommend it, particularly with the lower VRT on hybrids.

Just on the loan subject I'd recommend the Credit Union. I only had a few months savings and got 10k no problem. Took a longer term than I budgeted for so 6 months in I'm already 6 months ahead. :P

LeakingLava

Is there some haggling space when going into UK dealers? I'm seriously considering importing one, but if I was going to go over in the thinking that I will pay asking price, I simply cannot afford it. For example, I see this example: https://www.carsite.co.uk/used-car/lexus/ct/mtz_13302_48722581

In Euros, this is around €10300(p/x price, as advertised). For me to be comfortable regarding the whole thing, I would like to know if there is even the slightest chance that I could get it down to around €8000, maybe €8500(£7400) max to account for VRT, flights, fuel, and ferry. Do you guys think it's possible to discount £8990 to £7400?

bazz26

Very little haggling room with regular UK dealers. They are not like dealers here who add it on in order to haggle it off. With UK car supermarkets you pay the sticker price plus an admin fee.

ba_barabus

You'll need the price of vrting the car as the credit union loan won't cover it. Also check if they'll pay it to a UK based seller and that they're will to accept payment from them.

It may not be straight forward

kirving

With a personal loan, it can be spent on whatever you want, it doesn't get put into the dealer's account.

Although I guess the OP hasn't specified yet what kind of loan it is yet.

LeakingLava wrote: »

Would you guys suggest that a FSH is absolutely necessary? When I callled him, he has said that he didn't bring the car to Lexus officially so didn't have the service book stamped or anything, but he did say he got it serviced regularly.

Full service history is important, but not the end of the world if they're a little late. My last car had a very short 10,000km service interval, so if I missed it by 3-4 weeks because I had stuff on during the weekends, I could go a 2-3k over before I got around to it.

I always recorded the servicing in the book myself however, as would any independent garage, or most diligent DIYers.

In my view, the only reason the book wouldn't have detail is if he did it himself - which he should have at least some kind of record of. Receipts, credit card statement with €XXX to the local motor factor, an empty oil can in the garden shed, a set of tools. Anything.

If he's got none of these, I'd say the car wasn't serviced.

ba_barabus

Kevin Irving wrote: »

Although I guess the OP hasn't specified yet what kind of loan .

I should have been more specific. The possible issue may occur if the OP applied for a car loan rather than personal loan with the credit union.

LeakingLava

Hey guys. Thanks for all the contribution. The reason why I didn't mind looking at UK options at all is because we have actually already been approved for personal loan. I don't mind wherever the option is, but budget is tight for the car we want. Looking at a few cars today to see how tight dealers are with discounts. Thank you guys again.