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Advice on loans and finance

  clio williams, Ph1 172

Right just wondering how people pay for there cars on here as I have always paid cash.

I may possibly be after a new car next year. Not sure yet but probably some sort of clio. What do people think I should get? and how should I pay?

I think probably one of these:

Mk 1 clio 172

MK2 clio 172

Mint clio williams (is i can find one with about 40k on)

The 172s are a bit expensive at the moment and I have to think about insurance too as I am only 22, will be 23 by then probably anyway though, with 6 years no claims.

I think the MK 1 172s are fetching about 8K, are the prices likely to drop much more?

Williams prices have started to settle and £5k seems to be the psychological figure amongst enthusiasts, where the price goes up or down according to condition (one recently went for almost £8k on here). I dont think theyll fall now. There will always be the odd one thats being sold by someone unaware of their cult status, so keep an eye out for a bargain! But, just as with the Cup today, they were usually bought by informed buyers over the regular 16v (172).

The 172s will continue to depreciate for some time to come, although theyll depreciate relatively less the lower their price goes. The 172s are in a market where hot hatches are more common than theyve ever been, so I doubt theyll be making the same money as a used Clio Valver at the same age. I reckon that the Phase1 172 may be more sought after amongst enthusiasts as time goes on: although the Phase1 5 GT Turbo doesnt seem to attract more money than the Phase2, it does have that "rare" cachet amongst enthusiasts.

If you buy a Williams, or even a mint 16v, it wont really depreciate - so if youre of a cautious disposition it will give you peace of mind to know that a fire sale should cover most of any loan.

Id ask yourself if you want or need a new(ish) car - the depreciation can be hard to justify. If you sell your 16v and get a Willy itll cost you about £1-3k all in, which you can save in a year!

yeah spot on ben.

Its comforting to know that prices on 16/williams have now settled. But deosnt bother me anyway as mines staying with me!

I got a 5k loan from alliance and liecester... repaying over 3 years at 106 quid a month...7.9% APR

At the end of the 3 years Ill still owe them 2k so i can then either stump up the 2k and keep the car... continue making the repayments and keep the car... or sell the car to pay off the 2k..

Im reckon that in 3 years my williams may have done about 100k ( its done 64k at the minute)... internally and externally mine is a top notch nick and I intend to keep it that way... by the time I come to sell it in 3 years ill bet you my left nadger I get more that 2 grand for it....with interest Il end up paying over 6 grand for the car...Im planning to recoup some of the interest in the sale of it.

If you want something that you dont see very many of, with fantastic looks and drive I can whole heartedly recommend a Williams. Ive seen 2 others in 3 years... they are the b*llocks.

I borrowed money from Cahoot at 7% APR, not only is this a great rate, but they dont charge you redemtion penalties. I.e If you suddenly find youve got the cash to pay the remainder of your loan in one go, they wont charge you any interest. Most companies will pro rate the amount you owe and charge it as a penalty. You can also increase/decrease your payments as and when you want. Very flexible! Northern rock haev a good rate at the moment at 6.9% APR and I think Liverpool Victoria could be as low as 6.8% anything around 7% is good though!