Buying a car instead of renting long term

AmberGold · 23-10-2021 9:00pm #1

Ordered a new car and was getting awful trade in prices so I sold my current motor privately. It could be 3 months for the new car delivery or it could be six. I'll need something to get around in the meantime. I have done the GoCar thing before and its a bit of a pain logistically due to my location. Obviously looking for something cheap that'll see little depreciation.

Anyone any advice on what would be good to buy?

Xcellor · 23-10-2021 9:03pm

https://www.boards.ie/discussion/2058214503/buying-a-car-instead-of-renting-long-term

Why don't you get a car that has already depreciated to 2-3k if it's already at that point when you goto sell it you won't take much of a hit.

elperello · 23-10-2021 9:19pm

If it suits your requirements a small petrol hatchback type will probably not lose any value over 5-6 months and should be any easy seller.

bazz26 · 23-10-2021 9:35pm

The problem with the current used car market is that even junk is selling for well above it's worth. So there is a very good chance a cheap car could need money spent on it in the short term, very few gems out there at bargain prices at the moment.

Atlantic Dawn · 23-10-2021 9:44pm

You ideally want to get something which will have a bit of NCT left on it when it comes to offload it, you don't want to have to put money in to it at the end of your ownership. Keep an eye on Donedeal and be prepared to move the moment you see something decent appearing as they won't stay available long.

Charles Babbage · 23-10-2021 9:47pm

Talk to the people that are selling you the new car and see if they can rent you something off their tradeins.

Dr_Colossus · 25-10-2021 11:50am

https://www.boards.ie/discussion/comment/118064490#Comment_118064490

A family member did this early this year, dealer was effectively giving them nothing on a 2008 trade in so they decided to sell privately. Sold car privately in less than 24hrs but the lead time on the new delivery kept being pushed out.

Dealer said they'd loan a 2007 Focus they had in stock but problems then arose trying to insure it as couldn't insure a car not in their name and coverage for driving other cars didn't apply when existing car was sold and policy effectively no longer existed. Dealer ended up having to transfer ownership of 2007 Focus to family member who could then transfer their insurance policy onto it.

The new car took over 3 months longer than expected to be delivered during which time the family member had ownership and use of the 2007 Focus. At the time of purchase the Focus was transferred back to dealer again at no additional cost. Dealership was good to deal with and accommodating so definitely worth speaking to.

Buying a car instead of renting long term

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