I had a look at the car dealer AAA Auto as their website has heaps to choose from and because I brought my little Daewoo off them. There are quite a few Swift’s there and the one above looks decent. The mileage is not bad, the options are there (ABS brakes are essential, as is air conditioning). Most importantly, the price is right.
The price says €4700, but that’s only if you use their partnered finance company. The cash price is in grey underneath, and it’s €5500. The reason you pay more with cash is because they make a killing off the interest on their financing. I used their online calculator and discovered that I’d end up paying about €1800 in interest if I arranged finance through AAA Auto. No thanks. I checked with my bank, and if I use the bank for a loan then I’d only end up paying around €850 in interest, fees, and insurance.
I want to keep the purchase within the realm of €5000 too, so let’s hope the car dealer is willing to be flexible. If you’re wondering, “Why don’t I buy privately?” the answer is mind-numbing Slovak bureaucracy. The amount of application forms and waiting in lines here is crazy. I’d rather pay more and just let the car dealer do everything!
Of course I’d love to just save up instead, but I’ve got until April before my rusty old Daewoo has to go for its inspection so I don’t have enough time. Also, there’s no way in hell I’m going through another summer in a car without air conditioning. In June it got so hot my in-car thermometer broke once it reached 60 degrees Celsius!