Tag: car buying

A recreational vehicle (RV), also known as a motorhome, is a mobile home that can be used for travelling or living. It allows you to travel without worrying about lodging and provides a comfortable and convenient way to enjoy the outdoors. Purchasing a used motorhome is a cost-effective way to own one, but there are several factors to consider before making a purchase decision. In this article, we will discuss 10 factors to consider when buying a used motorhome.

1.  Budget

The first consideration when purchasing a used motorhome is your budget. A used motorhome can range in price from a few thousand dollars to several hundred thousand dollars, depending on its size, age, and condition. Setting a realistic budget for your purchase is critical, taking into account any additional costs such as repairs and maintenance. It is recommended that you set aside around 20% of the purchase price for these costs.
According to industry experts, the best month to buy a used motorhome is in the winter, when demand is lower and prices may be more negotiable. However, buyers should be aware that availability may be limited during this time, so if they find a suitable motorhome at a reasonable price, they should act quickly.

2.  Motorhome Size and Type

The size and type of motorhome you select will be determined by your requirements and preferences. Motorhomes come in a variety of sizes and types, including Class A, Class B, and Class C. The largest and most luxurious motorhomes are Class A, while the smallest and most manoeuvrable are Class B. Class C motorhomes fall somewhere in the middle. It is critical to select a motorhome that is the appropriate size and type for your needs and preferences.

3.  The Motorhome’s Condition

Another important factor to consider when purchasing a used motorhome is its condition. It is critical to inspect the motorhome’s overall condition, both inside and out. Examine the item for signs of wear and tear, such as scratches, dents, and rust. Examine the roof and windows for leaks, and ensure that all appliances and systems are operational. You should also have a professional inspection performed to ensure that everything is in good working order.

4.  Mileage

When buying a used motorhome, mileage is an important factor to consider. The more miles a motorhome has travelled, the more wear and tear it has most likely endured. Check the motorhome’s maintenance records to ensure that it has been well-maintained and serviced on a regular basis. A motorhome with a high mileage but that has been well-maintained can still be a good buy.

5.  The Motorhome’s Age

The age of the motorhome is also an important factor to consider when buying a used one. The more wear and tear a motorhome has likely seen, the older it is. It’s critical to think about the motorhome’s history and previous usage. A well-maintained older motorhome may be a good buy, but consider the potential cost of repairs and maintenance.

6.  Features and Amenities

The features and amenities available in a motorhome vary depending on its size and type, including the type of batteries it uses. It is critical to select a motorhome with the features and amenities, such as lithium batteries, that you require and desire. A kitchen, bathroom, bedroom, air conditioning, entertainment systems, and reliable power supply are all common features and amenities. It is critical that you prioritize the features and amenities that are most important to you, including the type of batteries that will power your motorhome.

7.  Parking and storage

When purchasing a motorhome, it is critical to consider storage and parking requirements. A motorhome is a large vehicle that requires adequate storage and parking space when not in use. It’s critical to think about the availability and cost of storage and parking options in your area.

8.   Registration and Insurance

The insurance and registration requirements for a motorhome vary depending on its size and type. When considering a purchase, it is critical to research these requirements and account for the cost of insurance and registration. It is also important to compare insurance and registration costs from different providers to find the best deal.

9.  Manufacturer’s Reputation

When purchasing a motorhome, it is critical to consider the manufacturer’s reputation. Some manufacturers are known for their quality and dependability more than others. Before making a purchase decision, it is critical to research the manufacturer’s history and reputation. You should also consider the manufacturer’s availability of replacement parts and service centres.

10.              Maintenance

Request maintenance records to ensure that the motorhome has been properly maintained. Regular maintenance signs include oil changes, tyre rotations, and other routine maintenance.

Advantages of Purchasing a Used Motorhome

Purchasing a used motorhome has several advantages over purchasing a new one. For starters, a used motorhome is significantly less expensive than a new one, making it a more cost-effective option for those on a tight budget. Second, because a used motorhome has already experienced initial depreciation, it will retain its value better than a new motorhome. Third, a used motorhome may already have some upgrades or customizations installed, saving you money on these costs.

Conclusion

Purchasing a used motorhome is an excellent way to experience the freedom of the open road without breaking the bank. However, before making a purchase decision, it is critical to consider a number of factors. Your budget, the size and type of motorhome, the condition and mileage, the age, the features and amenities, storage and parking requirements, insurance and registration, and the manufacturer’s reputation are all important considerations. Furthermore, before purchasing a used motorhome, it is critical to weigh the benefits and risks, take the vehicle for a test drive, and thoroughly research and inspect the vehicle. By following these tips, you will be able to find the ideal used motorhome for your needs and begin enjoying the open road.

Once you have invested in your first motorbike and experienced the thrill of riding, it can be tempting to expand your collection with a second bike. But before you take the plunge and purchase another motorbike, here are a few things you should consider.

How will it benefit you?

Consider how often you use your motorbike, and what kind of journeys you use it on – this will firstly allow you to determine whether a second motorbike is a worthwhile investment, and if so what type of motorbike would be the most beneficial.

For example, if you use your standard bike for commuting to and from work every day, you might invest in a touring bike that is better suited to leisurely rides on a weekend. On the other hand, if your main vehicle is a car and you already have a motorbike for leisure, purchasing a third vehicle might not be the right choice for you.

That said, buying a second motorbike ‘just because’ can be reason enough, if you have the money of course. The second bike can start your journey towards being a motorcycle collector – just be clear in your motivations and long-term expectations.

Type of bike

There are a multitude of different types of motorbike on the market, from a range of well-respected brands. It is crucial to do your research into what is out there so that you can be rest assured that you made an informed decision on the option that is best for you.

Some of the most popular types of bike include standard, cruiser, touring, dual-purpose, and off-roaders. You can also get a chopper, enduro, ATV, street, naked, sports or sports tourer, scooter, and more – it all depends on your personal preference.

Of these, the most popular and highly regarded motorbike manufacturers in the UK include Triumph, Yamaha, Ducati, Honda, Harley-Davidson, Zero, BMW, Kawasaki, Asprilla, and Royal Enfield.

Budget

It might go without saying, but the type, brand, and quality of your second motorbike will likely be dictated by the amount of cash you have available to spend. Whether you purchase the bike outright or repay monthly finance instalments, it is crucial to ensure that you can afford the expenditure.

To do so, you will want to understand exactly how much money you have coming in, how much you have in savings, and how much you spend on rent, mortgage, utility bills, food, and so on, every month. To help you, there are some free Government budget planning resources to assist you with planning your finances.

Even if you find that you will have a lower budget, however, this does not mean that you will be limited in choice. You can find a wide range of good quality second hand bikes for a reasonable price if you know what you are looking for, so don’t be afraid to shop around until you find the right deal. 

Insurance

In addition to the cost of the bike itself, you will also need to budget for insuring your new motorbike, too. The cost of the insurance will depend on (but is not limited to) your age, location, and riding history, the cost, power, and popularity of the bike, how often and how far you will ride, the number of named riders, your voluntary excess, and the level of cover you require.

Of course, this will mean that you will be required to insure two separate motorcycles – and these costs can add up. However, if you will be the only named rider on the policies, a more cost effective option might be to consider multi bike insurance.

Multi bike insurance has the rationale that one person cannot ride more than one bike at one given moment. This reduces the road risk of the other bikes on the policy. Subsequently, the premium is based on the most expensive motorcycle, and any additional bikes will benefit from significant cost savings.

Storage space

Before you purchase your new motorbike, it is important to determine where you will store it. It goes without saying that you won’t be able to ride both at the same time, so you might consider whether there is room in your garage for the one you aren’t using – or indeed for both of them to be safely stored overnight.

Where you store your bike will also impact your insurance, too. If you have to park it on the road, it might be more liable to damage or theft, and thus can be subject to higher premiums.

By considering these things before making any purchase, you can ensure that you get the best motorbike for your money, and that it will be a worthwhile investment for exciting future rides.

You need a reliable car to help you get on with your daily life. Whether you’re planning on going on a road trip, need to take your kids to school or want an easier way to commute to work, it’s important to have a car that supports your needs. However, you don’t want to buy a car that is too expensive. That’s why you should consider these 5 reliable cars that you can get used for under £3000.

Ford Fiesta

It’s normal for a car to lose its value after spending some time on the road. After all, driving around in a new car can eventually lead to deprecation because of wear and tear and unfortunate bumps and potholes on the road. But that shouldn’t stop you from being able to get a nice car for under £3,000 with modern technology included.

The Ford Fiesta has been one of the best-selling cars over the last 40 years. So, it’s very likely that you will be able to find a second-hand model that is currently on sale. We would recommend the Mk5 or Mk6 Fiesta. Both have a large amount of space in the boot and can seat up to 4 adults. Not only that but if you go for a titanium model, then you will have a car that has alloy wheels, auto headlights, keyless entry and cruise control. You’ll even have a choice about whether your car is petrol or diesel, manual or auto.

With this variety of choice and the knowledge that you can find a Ford Fiesta vehicle for under £3,000, they are worth buying second-hand!

Fiat Panda 100HP

Costing around £2,395 second-hand, the Fiat Panda 100HP is a great car to have if you live in a city. Not only does it have a large amount of boot space, but it is an extremely smooth drive. With a 1.4 litre petrol engine, you will find that the performance of the car is fantastic. It can go fast but also maintain its handling ability to ensure your safety on the road.

You’ll love being able to drive the Fiat Panda 100HP. It has a smooth exterior but is also comfortable enough to seat 4 people. Therefore, it’s worth purchasing as your new car.

Suzuki Swift

For drivers who are interested in small and lightweight cars under 3000 pounds, the Suzuki Swift may be the vehicle for you. Just keep in mind that you will have to purchase a second-generation Swift, from 2005 – 2010, or a sports model. The best thing about the Suzuki Swift is that it is a refined vehicle. With low running costs and a reliable design, you will find it easy to drive and always feel safe when you are on the road. Just keep in mind that it is a small vehicle, therefore it may not be suitable for drivers with large families.

MINI

Another type of small car that you can get for under £3000 is the MINI. BMW actually reinvented the MINI and made it a lot bigger than its predecessor. If you are interested in looking for a retro car that can provide an extremely exciting driving experience, you will find that the MINI is right up your street. As it only has three doors and a small boot, it is perfect for solo drivers or those who do not require a lot of space on their daily commute or road trips.

If you are thinking about purchasing a second-hand MINI or a cheap model, we would recommend the petrol MINI Cooper. They tend to have higher mileages but can also be a little older than their more modern models.

Honda Jazz

For those who are looking for a reliable build on a small budget, the Honda Jazz could be perfect for you. When you are looking for a cheaper vehicle, it can be difficult to find cars that hold up well on the road. That way you won’t need to pay for any repairs that occur in the near future. It is a very practical brand and you can even find an inexpensive first-generation car. So, it’s worth the purchase!

Have you found the perfect car?

Finding a car on a budget can be difficult. But don’t worry. If you look online or go to dealerships, it’s very likely that you will find a vehicle that will suit your needs and the amount you are willing to pay. Take your time and find the best car for you!

If you’re reading this, it’s presumably because you’re considering taking out a car finance deal for your next set of wheels – and that’s pretty understandable. After all, the recent statistics do point to the car finance market continuing to see strong business, so plenty of people are evidently still buying a car on finance in 2022.

But if there’s one tricky aspect that can arise when you’re considering your options for car finance, it is the deposit. You might ask yourself, “do I really need a deposit? And if so, should I go for a big deposit or a small one? And how will that affect me going forward?”

So, let’s start answering those questions, by explaining the situation in a really simple way.

How do deposits for car finance typically work?

Over the years, the process of a motorist arranging car finance has traditionally worked out as follows: the motorist applies for car finance, and if they are successful with their application, the lender will provide them with a high proportion of the loan value.

But as is the case when someone is trying to take out a mortgage for a house purchase, the lender won’t typically offer the would-be borrower the entire loan value. What they will expect, is for something to be paid upfront – in other words, the deposit.

While the deposit requested by the lender may not be exactly the same from one lender to the next, around 10% of the loan value is a good “ballpark” figure for what to expect if you are interested in applying for car finance so that you can get behind the wheel of your ideal car.

So, could it be a good idea to offer a larger deposit?

Now, if you’ve read this far, you’ve probably already realised that offering to pay a bigger deposit than the bare minimum requested by the lender, could bring you certain advantages. After all, the bigger the deposit is, the lower the overall value of your loan will be, because you won’t need to borrow so much to repay over time. And having a smaller loan could allow you to pay back the entire sum of money sooner.

That, in turn, could also be a source of reassurance for the lender – particularly if you have a less-than-glittering credit record. It is definitely possible to get car finance with bad credit, but having a history of failing to pay back your loans can also make it harder to convince lenders to agree to give you new loans. So, paying a larger deposit could greatly help to expand your car finance options.

But putting down a bigger deposit may not be the right path for everyone

So, are there any circumstances in which paying a larger deposit could be a bad thing for you if you’re seeking car finance right now? Well, yes – there could be a risk of paying a bigger deposit leaving you financially stretched in the long run, which could compromise your ability to keep up with repayments.

Let’s take a look at the specific example of someone paying a big deposit for a personal contract purchase (PCP) deal. This is the type of car finance where, if you want to own the car once the loan term comes to an end, you will need to pay a final ‘balloon’ payment.

This means that if, for instance, you were to take out a PCP agreement, with a big deposit and subsequent monthly repayments that you can only just manage to afford, there’s a strong risk that you will arrive at the end of the loan term without enough money to actually acquire the car permanently.

That might not seem like the greatest worry if you decide that you aren’t bothered about owning the car in the long run anyway. After all, the ‘balloon’ payment is only optional if you are on a PCP deal, and you may like the idea of switching to another car once this particular loan period concludes.

But in that situation, if you have ploughed basically all your money into that specific car finance agreement, will you have any cash remaining to pay the deposit on a new deal? That might leave you in the situation of having to pay a lower deposit on your next deal, and therefore being forced to pay more in monthly repayments.

There is, of course, the possibility in that situation that you could even find a car finance deal that doesn’t require you to pay a deposit at all – although it is also crucial to realise there is no guarantee of that.

In conclusion… it all depends on your requirements and situation

In summary, then, yes, paying a larger deposit does potentially help expand your car finance options. But depending on your financial circumstances both now and in the future, it could have the long-term effect of narrowing those options, too.

Every motorist’s situation is obviously different, so it is important to look carefully at your own circumstances, and consider what would be the most suitable path forward for you. And if you do wish to apply for car finance, at Car Finance Genie, they are ready and waiting to provide you with a free and no-obligation quote that is perfectly aligned with your needs.

If you want to become, or already are, a PCO driver you should consider if you want to rent or buy a car for your job. It’s difficult to make a decision right away, so make sure you look at pros and cons for both options. Or maybe you choose a middle way – renting with the option to own the car at the end of the contract, via a ‘rent to buy’ plan. You might have heard of Rent to buy plans for homes and apartments, but you can also find car companies that offer them.

A PCO Licence is a Private Hire Driver Licence which you need if you want to work as a taxi driver, chauffeur or Uber driver. A PCO licence is valid for 3 years and is issued by the PCO (Public Carriage Office) in your area.

How does this work? Well, you sign up an agreement and pay for the car like you would when you’re renting one. However, instead of giving the car back at the end of the term and losing the money, a part or all of the money goes toward purchasing the car.

A key benefit to a rent to buy arrangement is that you are not committed to a long lease or large capital investment You can try starting or expanding your PCO business with little initial outlay and therefore your financial exposure will be limited. If the business goes well great, if it doesn’t work for you simply return the car.

Credit check

Car lease the terms can be very restrictive and lenders usually ask for a pretty in-depth credit check to make sure you can afford the loan. However, for a Rent to buy contract the credit score usually doesn’t matter because you’re not applying for a car loan.

There’s something for everybody when it comes to buying a car, and the requirements vary from one company to another. For example, Splend is a PCO car hire company that doesn’t require you to have a good credit score. Why? Because you will pay for the car one week in advance. If you’re not able to pay, you will be asked to return the car just like you would when renting.

Car lease vs Rent to buy

Your needs are the main factors in determining if you want to own a car, or not. The advantages of car leasing are many, starting with the fact that you don’t own the car and therefore have no responsibility for its depreciation. It’s no secret that a car loses its value over time and should you decide to resell it, you’ll probably lose money. With a car lease, however, you can hand back the car at the end of your contract and easily get a new one. This is also a great option if you’re passionate about the latest car models and new technology, as you can drive a new one every couple of years.

At the same time, this can be seen as a disadvantage too. There is a certain peace of mind that comes with owning a car, even if it’s at the end of a contract and not purchased on the spot. There’s no risk of having to return the car, you won’t be concerned about mileage anymore and you get to customise it anyway you want. Plus, rent to buy contracts only last 3 to 4 years on average, and there are companies that also offer maintenance included in the weekly fee.

No matter which option you choose, make sure your agreement stipulates that you can use the car with ridesharing apps. This way you’ll be able to sign up with Uber, or any other platform and use your brand new car to earn an income.

Down payment and costs

Costs will vary from one provider to another. A down payment will most probably be requested by any rent to buy company, once you decide to sign a contract. After that, you’ll make weekly or monthly payments towards owning the car. Like every other car, the one you purchase via a rent to buy contract needs insurance too.

Make sure you ask your provider if the agreement includes insurance, what it covers and if you need to pay extra for it. Maintenance is another cost you need to take into consideration. Most companies ask for regular servicing, to make sure you’re keeping the car in good condition. Among your
options might be either a maintenance agreement with the same company, or having the costs included in the rent fee which will cover servicing for the entire contract period.

Whether you decide to lease or rent to buy, research is key. Both come with advantages and disadvantages, but in the end it’s all about your needs. If, as a PCO driver, you want less commitment and more flexibility, you should choose a company with an all-inclusive service.