Silverstone Value?

[Moomin_Man]

Just getting ideas so I can weigh up the best plan for my twingo.
Unsure whether to sell after 3 years or hang on to it.
Bought November 2011.
Currently has 7000 miles, can't see it exceeding 14,000 in the next 20 months.

If I was to sell to a dealer, does anybody know roughly how much I might be offered.

New was £15,000.
Condition - Immaculate! No dents or knocks. Had the passenger side professinoally resprayed to fix where it had been keyed. Seamless job! You wouldn't know it had been resprayed. Alloys are all mint.

Looking to get a mortgage by then and unsure how an outstanding loan of £6000 would affect my chances (Credit history is mint with only my age against me). Might have to sell up and clear the balance, then buy smaller car with my savings.

Just planning ahead, would love to keep just keep the twingo by paying off the balance but that would be a big chunk out my savings :?

 

[abrahams133]

Loan of 6k wouldn't affect your mortgage application that much pal!

 

[singlespeed]

Before blowing all your savings on clearing down one loan, don't underestimate how much difference a larger deposit may make on the repayment terms for your mortgage. Also, maybe having a contingency (besides deposit) for any work needed on the property which the mortgage company won't release capital against.

Sorry its not that helpfull as to the specific question of price for your car, but future prices may vary depending on many factors (amount of similar cars for sale/ economic state of the UK/ actual condition of the car at sale time etc)

 

[Kelly_GT]

I was 20 when I got my mortgage and I was paying car finance at the time. You're likely to get offered up to 3 times your annual income and if you can prove you can pay the monthly repayment and never miss a payment then they couldn't care how much debt you have! You should be fine

 

[Caz-133cup]

I'm the same as Kelly. Was almost 21 when I took on a mortgage with my then boyfriend and never had a problem however back then we didn't have to pay any form of deposit.

 

[the_notorious_C_A_T]

Mortgages are a lot harder to get now a days though unless you get them semi recently?

But to answer the op, I would put the details into we buy any car and that would be roughly what a dealer would offer at a guess. Ball park figure for you to have at least!

 

[maggi200]

Carries was pre the market crash, but Kelly's was more recent. Only a year or so ago.

Me and Carrie are saving currently for a house, and I am trying my hardest to get a bigger deposit together. I will have no debt against me once my cars paid off shortly and I intend on keeping it once owned outright as its reasonably cheap to run for what it is, which is fun

 

[abrahams133]

I work for barclays, one loan won't make a great deal of difference and we tend to lend s minimum of 4 x salary, sometimes higher, deposit is most important at the mo!

 

[Moomin_Man]

Thanks for all the help guys & Gals!
Great info!

webuyanycar.com: £8,200 if I was to sell now. I'm actually impressed with that offer, would have expected less from them! Not selling any time soon though

 

[Penn]

4500 mile '11 plate mint example over on RSUK with asking price of £9250.

 

[JoeRS133]

I dont understand how young people on here are getting mortgages??

We already have a house so its not that great deal extra we are getting one for 157000

But if its 3x your salary how much you buggers on?? 50k a year?!

 

[Ollie133cup]

4x your salary at RBS and 3x yours + 1x partners

My house was £95,000 with £10k deposit.

 

[maggi200]

What that's bonkers!

Round here a flat went up, 1 bed concrete piece of crap for £245,000

Rickmansworth is soooo expensive I'm saving and will simply have to move away to afford. Which causes other issues, like proving my income should I need to change where I work

 

[JoeRS133]

I only needed 3 payslips.

Same here i struggle to comprehend how a house that was worth 50000 10 years ago is now worth double that! Wages haven't gone up and the cost of living has. How a normal person on a normal wage can afford a decent house is beyond me!

 

[Caz-133cup]

What that's bonkers!

Round here a flat went up, 1 bed concrete piece of crap for £245,000

Rickmansworth is soooo expensive I'm saving and will simply have to move away to afford. Which causes other issues, like proving my income should I need to change where I work

Yet round here for a 3 bed house its 145k. With a garage and drive. Cheaper up here but your job is down there
I was lucky all those years ago as I didn't need a deposit but now you need so much money its unreal

 

[JoeRS133]

Our house at the moment is a terraced 2 bedroom and we sold for 131,000 yet my mate up in norfolk could have a nice 3-4 bedroom for that.

Our new house is only an end of terrace corner plot. Granted its big inside but no garage etc and 157000!!

To me thats an awful bloody lot of money.

Yet some people earn that a month in bonuses. Makes me sick.

 

[Dazza1]

I just paid 90k for my place with 75k off

 

[JoeRS133]

I dont understand 75k off?

 

[maggi200]

I believe dazza bought it off the council and as a tenant was entitled to this deal

 

[Dazza1]

Maggz is right.

£380 a month mortgage it's cheaper then my rent