I've been made to think about this by the 'drive the deal' thread, but it doesn't really fit within it, so started another one.
In the (reasonably) near future I plan to buy a Fiat Coupe. Now, these aren't the most common car on the road and a combination of the spec I require (air con, either PLUS or LE) and the fact that there are only a few colours I'd be happy with (Ink Black preferably) means that I'm not really going to have much control over where I get the car when the right one comes along.
This creates a problem. What if 'the right car' is being sold privately? What are my options for getting rid of my current car?
Especially if the price means that I need the money from selling the Alfa to afford the new Coupe?
Some sort of bridging loan (possibly on top of finance if I choose to go that way)?
A deposit on the Fiat with an agreement to pay balance and pick up car in x days? (But how likely is a seller to agree to that?)
I'm sure plenty of other people have been in this situation, how did you deal with it?
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Bazza
By coincidence, I'm thinking of a Coupe when I next change, but not for a little while. Your question prompted me to look on Autotrader and there's an ink black coupe with aircon at Leatherhead Car Sales for £5995. By coicidence, I bought SWMBO's Celica there a couple of years ago. It was an excellent buy.
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Finance:
1. Overdraft. Best form of short-term loan you can get hold of. Cheap - interest rate under 10%; easily arranged; easily paid back; no penalties for early repayment.
2. Credit card cash withdrawal. Make sure you've got yourself a cheap credit card with a low interest rate, not a punishing one with generous cashback & punitive interest rates.
Disposal of old car:
1. Quick & easy - eBay. You'll get your money back as soon as possible, which will help your financing. A 3-day listing will get you your extra cash before you know it. As your Cloverleaf is apparently a popular, desired car eBay may well be ideal for shifting it. On the other hand, the amount you get for it may be limited slightly as it is eBay.
2. Private sale.
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Oh, and I'm sure you know my view on borrowing money to finance a progressively rusting heap of metal. Don't do it!
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FIAT COUPE 6 Speed 20 valve Turbo , 2 Doors, Coupe, Petrol, 1999 V Reg , 90,000 miles, Ink Black Metalic. Air conditioning, one former keeper, Recaro Leather Seats, Full service history, ABS, Push button start, Driver and passenger airbags, Central locking, Alloy wheels, Leather steering wheel and gear knob, Electric mirrors, Electric windows, Power assisted steering, alarm remote controlled, central doorlocks with remote control, RDS Radio cassette, CD Multichanger, Adjustable steering column/wheel, Limited slip differential, 6 speaker system, Foglights, Locking wheel nuts, red key, stunning condition. Mobile number 07768 500996 £8,490
This what you're looking for? James Twist garage in Warrington have one in right now :-)
If you want shot of your current car then as it is an alfa then I would say going via the alfa owners club might be a good way of doing it. Cahoot do a flexible loan so you could borrow the full coupe price, sell yours and pay off part of the loan. You only get charged interest on the amount you have borrowed at any one time. This gets you round the cash flow problem without having to borrow more than you need for more than a couple of weeks.
teabelly
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Thanks guys, there are some good suggestions there.
Both cars sound wonderful, unfortunately it is a definite future purchase rather than a 'now' one.
That one at James Twist sounds fantastic, assuming the belts have been done recently. Where did you get those details from Teabelly? Are they on the net?
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The details are off autotrader. Mr Twist has a website, with piccies.
www.jamestwistgarage.co.uk/_jamestwist.htm
If I hadn't just agreed to buy a skyline I think I'd be tempted by it as it has the 6 speed box!
Buy it now, you know you want to ;-)
teabelly
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That is georgeous, isn't it?
Couldn't lend me about £8450 could ya? I'd good for it, honest guv.
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It is a great car. I think you should at least go along there and see it up close. I am sure they'll lend you the £8450 :-)
teabelly
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Just key into google what model and type you are looking for and you will find plenty - or alternatively one of the car website specialists such as Fish4Cars.
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I know there are the cars out there Stuart, the point is how I would go about selling my current one when the right one comes along.
If a lovely example with the right spec and colour came along, it'd be a shame to have to let it go because it was a private sale so I couldn't part exchange.
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