Car advice

[thistledo]

On the Lease/PCP v Buy debate, there's usually no right or wrong answer. There's so many variables, that will mean more often than not, it's luck or your own research that will dictate what was more financially beneficial.

[Rugster]

10 minutes ago, thistledo said:

On the Lease/PCP v Buy debate, there's usually no right or wrong answer. There's so many variables, that will mean more often than not, it's luck or your own research that will dictate what was more financially beneficial.

Maybe you could use your car to drive over TO KEBAB MAHAL AND REPORT BACK!!! 

 

[thistledo]

4 minutes ago, Rugster said:

Maybe you could use your car to drive over TO KEBAB MAHAL AND REPORT BACK!!! 

 

Aw fucking hell man, actually laughed quite a lot at that. I'm gonnae go man, honest. Probably. 

[welshbairn]

Buy a 3 year old car with low mileage, shell out for extended warranty, run it into the ground and scrap it, repeat.

[D.A.F.C]

Turn down the finance put the warranty on full blast.

[RandomGuy.]

3 hours ago, throbber said:

As I said previously i was thinking of getting a car on PCP as you pay a smaller deposit and smaller monthly repayments but the more I have been looking at deals the less attractive an offer it seems. For example I could get a £9k car with £300 down and £160 a month repayments on a 4 year pcp deal and by the end of that term I would have paid about £7000 for a car that I won’t own after it. I’m now thinking for of putting down a deposit of £1000 and taking out a bank loan and buying a £8000 car at cash price. What sort of monthly repayments would I have on that sort of loan and what interest rates would I pay on that in comparison to a pcp deal or hire purchase deal? I have never taken a loan out before.

I got a bank loan to buy my car. £10k over five years comes to £180pm

2 hours ago, Mr X said:

 

Whats the massive advantage of owning a car? 

All personal preference. I can repair my car myself for almost nothing. To buy the car I wanted I was going to be making payments over five years. I decided a bank loan, buy it outright, own the car, was the best approach. As if any financial difficulties come my way a few years down the line I can sell the car, get all the money and use it to help. A finance deal wouldn't allow me that. 

2 hours ago, Shandon Par said:

Unless it was a 1M BMW. I'd tried to get the missus to get one but she thought they were ugly so got an M135i instead. The other day she saw a 1M and said "ooh that's nice, what is it?". It's worth nearly double what they cost when they were new in 2012/13. 

M135is are absolutely filthy cars. Ten years down they'll be classics. 

[welshbairn]

45 minutes ago, throbber said:

 

That’s why I don’t think it’s right for me, I only want a car to do about 8000 miles a year at most for a few trips up the road and for getting out and about with the baby, I only want to be paying £150 a month at most as well so I’m not going to be getting a particularly expensive/new motor so I may be better off getting a bank loan and paying the cash price for it. It’s a headache tbh.

 

Have you worked out your potential mileage carefully? 8000 sounds an awful lot for shopping trips and occasional weekend visits to relatives.

[ICTJohnboy]

4 hours ago, strichener said:

Porsche have had a few cars where you could have kept them for a couple of months and then sold them for more than the list price.  This was due to the length of the waiting lists from Porsche for new cars.

 

JCB's can also appreciate in value, but I would concede a Porsche will probably outperform them on the motorway.

[strichener]

4 minutes ago, ICTJohnboy said:

 

JCB's can also appreciate in value, but I would concede a Porsche will probably outperform them on the motorway.

Not this one - https://en.wikipedia.org/wiki/JCB_Dieselmax

[alta-pete]

Horses for courses. What do you want/need?

 

I do a high mileage on my own with work, I need something presentable. I lease.

 

If you need a cart to transport your filthy weans between swimming pool/McDonald’s/brownies/Aldi and cover about 100 miles a week, I’d say buy something just out of warranty and give it a slow painful death.

 

We’ve got both. Each for its own purpose.

 

[welshbairn]

2 minutes ago, throbber said:

 

No, it’s impossible for me to figure out the mileage carefully as I haven’t been in this situation since living in Edinburgh.

 

Doubt you'll do more than 5000 tops if you aren't commuting. 8000 is over 150 miles a week or 22 miles a day.

[Honest Saints Fan]

My lease is 8000 miles. Drive Dingwall to Inverness and back 3 times a week plus whatever I get up to on my days off. Had my car 13 months now and just about to hit 7000 miles. 

I don't think I'd ever buy a car, lease suits me perfectly and isn't too expensive either. 

[welshbairn]

4 minutes ago, Honest Saints Fan said:

My lease is 8000 miles. Drive Dingwall to Inverness and back 3 times a week plus whatever I get up to on my days off. Had my car 13 months now and just about to hit 7000 miles. 

I don't think I'd ever buy a car, lease suits me perfectly and isn't too expensive either. 

4 1/2 thousand of that is your 3 day commute.

[UsedToGoToCentralPark]

Lease is great if you want a new car every 3 years or less. Buying is best if you plan on buying a used car or keeping a new car for more than 3 years.

 

That's how I see it.

 

 

[Honest Saints Fan]

2 minutes ago, welshbairn said:

4 1/2 thousand of that is your 3 day commute.

38 miles a day if I include nursery detour.

[welshbairn]

1 minute ago, throbber said:

 

You’re right, I’ll probably make a 500 mile round trip 6 or 7 times a year so 5000 would be a reasonable estimate. Think I would be best going for a car for about £5k -£6k outright rather than a pcp deal.

 

I would. A three year old car with low mileage is about half the price of a new one. Splash out on extended warranty to avoid shock repairs and it should last you 10 years minimum, or until your gambling improves and you can upgrade.

[PB 4.2]

Why would you change car just now?   Good things come to those that wait #KIA #CEED #DECE  

 

[die hard doonhamer]

You’re right, I’ll probably make a 500 mile round trip 6 or 7 times a year so 5000 would be a reasonable estimate. Think I would be best going for a car for about £5k -£6k outright rather than a pcp deal.

Personally I'd say that's ideal for a PCP.

I have a Corsa on PCP, 6000 miles a year, and I'm pretty much bang on the run rate at the moment. I use it for my 5 mile commute during the week then getting to football at the weekends (an average of probably a 30 mile round trip).

[PB1994]

7 minutes ago, die hard doonhamer said:

Personally I'd say that's ideal for a PCP.

I have a Corsa on PCP, 6000 miles a year, and I'm pretty much bang on the run rate at the moment. I use it for my 5 mile commute during the week then getting to football at the weekends (an average of probably a 30 mile round trip).

I agree. Get 2 years of servicing included in the monthly payments and give it back after 3 years and get a new one.

Should never have to pay anything extra that you weren’t expecting.

[welshbairn]

1 hour ago, die hard doonhamer said:

Personally I'd say that's ideal for a PCP.

I have a Corsa on PCP, 6000 miles a year, and I'm pretty much bang on the run rate at the moment. I use it for my 5 mile commute during the week then getting to football at the weekends (an average of probably a 30 mile round trip).

How much do you pay?