| Best way to buy a car??? 11:18 - May 28 with 18323 views | AlfieMooresSon |
It seems like the youngsters just decide £300 per month or whatever and hire or lease a car that they never actually own.
The old method was to buy a quality car say 3 to 4 years old, then keep it for 3 to 7 years.
What do you do and what is the best method these days?
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| Best way to buy a car??? on 21:16 - May 28 with 3384 views | jack2jack |
No one can tell you what's best for you,only you know what your finances are.
Just buy what you can afford, simple. |  | | |
| Best way to buy a car??? on 21:16 - May 28 with 3384 views | Cooperman |
| Best way to buy a car??? on 21:08 - May 28 by Neath_Jack |
Yeah i know, loads in work buy through that PCP thing, and they've all tried convincing me to do it. I cannot for the life of me get my head around doing it though. Hate owing anyone money for anything. |
That's right, it is very much down to a combo of motoring and money management habits. |  |
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| Best way to buy a car??? on 21:21 - May 28 with 3372 views | ItchySphincter |
| Best way to buy a car??? on 21:08 - May 28 by Neath_Jack |
Yeah i know, loads in work buy through that PCP thing, and they've all tried convincing me to do it. I cannot for the life of me get my head around doing it though. Hate owing anyone money for anything. |
It’s renting a car init. 4K per year for four years - 16K out with nothing to show at the end of it, whereas 16K buys you a big chunk of second hand premium luxury which you can at least get something back on in four years. Leasing is a mugs game, designed to prop up the car industry and largely aimed at people too young to have better sense, and those who continually moan about not being able to get together a deposit for a mortgage whilst driving around in their poxy 1 series or A-class. |  |
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| Best way to buy a car??? on 21:24 - May 28 with 3362 views | Cooperman |
| Best way to buy a car??? on 21:21 - May 28 by ItchySphincter |
It’s renting a car init. 4K per year for four years - 16K out with nothing to show at the end of it, whereas 16K buys you a big chunk of second hand premium luxury which you can at least get something back on in four years. Leasing is a mugs game, designed to prop up the car industry and largely aimed at people too young to have better sense, and those who continually moan about not being able to get together a deposit for a mortgage whilst driving around in their poxy 1 series or A-class. |
Give me an example of a £16k big chunk of second hand premium luxury. | |
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| Best way to buy a car??? on 21:48 - May 28 with 3332 views | ItchySphincter |
| Best way to buy a car??? on 21:24 - May 28 by Cooperman |
Give me an example of a £16k big chunk of second hand premium luxury. |
Find your own examples. | |
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| Best way to buy a car??? on 22:08 - May 28 with 3312 views | lifelong |
| Best way to buy a car??? on 21:24 - May 28 by Cooperman |
Give me an example of a £16k big chunk of second hand premium luxury. |
You can pick up a nice BMW 318 Sport in Motorpoint for £17k, 2 years old with less than 10k on the clock.. cost 30 grand new. |  | | |
| Best way to buy a car??? on 22:47 - May 28 with 3270 views | Cooperman |
| Best way to buy a car??? on 21:48 - May 28 by ItchySphincter |
Find your own examples. |
Taking Lifey's example...
In 4 years that car will be worth about £6k so there's £11k lost against the initial investment. It also has to be taxed and MOT'd for four years whereas lease vehicles don't need this extra outlay - that won't be far off a grand. I'd be tempted to have the timing belt or chain changed very soon after purchase of my second hand executive car but failing that it will still have to be done within the four year period of ownership. If I'm having it done with a reputable dealer then it will be costly. In terms of day to day motoring, 6 or 7 year old cars break down more frequently than something brand new and now there is no warranty to fall back on. 3-Series E90 body control modules, compressors and valve covers gaskets are expensive to change and the car won't drive without them. You therefore have to factor a potential hefty repair bill into the equation. Lastly servicing, my new lease car on a three year lease is only likely to require an oil change in that time whereas the second hand car will at some point require filter changes, transmission oil changes if it's auto, new tyres possibly upon buying the car, pads and discs changes etc etc. So in all likelihood there isn't much change out of £16k at the end of four years by going down this route. The attraction of the leasing route over your suggestion is that I don't have to make the initial outlay and I get to keep the money in my bank, plus I know the next three or four years of motoring are going to be hassle free. Each to their own, as I said above it comes down to preference for motoring and management of finances. | |
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| Best way to buy a car??? on 22:57 - May 28 with 3253 views | monmouth |
I wish I’d leased now, as the depreciation alone has been more than the lease cost (discontinued car, diesel) and if there’d been an option to negotiate purchase at current retail prices, knowing the car, and it being a fabulous machine for the price, I’d have been a lot better off.
Plus the speed that technology is changing, and battery issues in electric and hybrid, plus reliability after 50000 miles of these new cars that simply can’t be DIY’d, ownership will become increasingly expensive.
As an aside, I just had to get rid of my fathers car quickly and it ended up at Westbury auctions too. I’m intrigued at tracing it. |  |
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| Best way to buy a car??? on 23:16 - May 28 with 3239 views | ItchySphincter |
| Best way to buy a car??? on 22:47 - May 28 by Cooperman |
Taking Lifey's example...
In 4 years that car will be worth about £6k so there's £11k lost against the initial investment. It also has to be taxed and MOT'd for four years whereas lease vehicles don't need this extra outlay - that won't be far off a grand. I'd be tempted to have the timing belt or chain changed very soon after purchase of my second hand executive car but failing that it will still have to be done within the four year period of ownership. If I'm having it done with a reputable dealer then it will be costly. In terms of day to day motoring, 6 or 7 year old cars break down more frequently than something brand new and now there is no warranty to fall back on. 3-Series E90 body control modules, compressors and valve covers gaskets are expensive to change and the car won't drive without them. You therefore have to factor a potential hefty repair bill into the equation. Lastly servicing, my new lease car on a three year lease is only likely to require an oil change in that time whereas the second hand car will at some point require filter changes, transmission oil changes if it's auto, new tyres possibly upon buying the car, pads and discs changes etc etc. So in all likelihood there isn't much change out of £16k at the end of four years by going down this route. The attraction of the leasing route over your suggestion is that I don't have to make the initial outlay and I get to keep the money in my bank, plus I know the next three or four years of motoring are going to be hassle free. Each to their own, as I said above it comes down to preference for motoring and management of finances. |
Show me an example of a nice 318 sport for 6K. | |
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| Best way to buy a car??? on 00:42 - May 29 with 3177 views | Cooperman |
| Best way to buy a car??? on 23:16 - May 28 by ItchySphincter |
Show me an example of a nice 318 sport for 6K. |
Here you go. It’s not an M Sport or even a Sport but the fact that it’s coupe will offset some for the difference to the sedan Sport.
You’ll get this for six grand if you’ve got any nouse about you.
Also let’s not forget that this is a trade price. The numbers will be much lower when you’re attempting to sell your asset.
https://www.autotrader.co.uk/classified/advert/201905248288923?advertising-locat | |
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| Best way to buy a car??? on 04:25 - May 29 with 3142 views | Professor |
| Best way to buy a car??? on 21:21 - May 28 by ItchySphincter |
It’s renting a car init. 4K per year for four years - 16K out with nothing to show at the end of it, whereas 16K buys you a big chunk of second hand premium luxury which you can at least get something back on in four years. Leasing is a mugs game, designed to prop up the car industry and largely aimed at people too young to have better sense, and those who continually moan about not being able to get together a deposit for a mortgage whilst driving around in their poxy 1 series or A-class. |
Leasing suits some people-often where one car is owned outright and a second more luxurious car is wanted or needed. I have colleagues who do this with BMWs and their view is that they know what they will pay each month with no additional costs. PCPs are a different beast of course-the car can be bought for a final payment, but it would appear most people just use the value (usually above final payment) before the end of the term. It does mean you get a better car for a reasonable monthly cost (230 for our Hyundai Tucson). What is interesting is that PCP deals are often very competitive-havng been looking at a small SUV like a Seat Arona or Fiat 500X on Carwow and the PCP price can be 2k or more less than the cash price. Easy affordability as long as you are in a position to pay over the term of the deal. Fine for me as I am unlikely to be made redundant and if forced to retire due to Ill-health will get a substantial pension lump sum. All depends on individual circumstance, but a 21 year old living at home buying an Audi or BMW is a little crazy. | | | |
| Best way to buy a car??? on 07:22 - May 29 with 3099 views | Alberto_Swinglehurst |
One point. I read it’s better to buy a second hand16k car which you’ll own, rather than leasing. What happens if you don’t have 16k to spend on a car, but you do have a regular income and can afford the initial deposit on a barns new lease car? Seems a no brained to me. | | | |
| Best way to buy a car??? on 10:37 - May 29 with 3038 views | Batterseajack |
| Best way to buy a car??? on 11:56 - May 28 by Vincent_Vega |
I got an old VW TDI (2004) 155k on the clock FSH bought it for £600 last year
It's a bloody fab motor, just had MOT and it flew through.
Plenty of grunt, practical, good MPG what's not to like?
Yes on closer inspection it has a few scratches and no its no pu55y magnet (can you say that these days?) and a passenger speaker is blown which I'm in the process of fixing but apart from that it's tip top. I highly recommend it for a decent runaround/workhorse and there's a few out there if you look, then again I'm in my mid 30's so maybe I'm not in the bracket your talking about.
What gets me is from an environmental POV. How come it's more environmentally friendly to scrap said VW and buy a brand new Hybrid or electric motor. These new cars have rare minerals which would test a chemistry professors knowledge of the periodic table and they have to be mined from exotic places which are then shipped for refinement and assembly in some factory in Asia or Eastern Europe then shipped to the forecourt? And that's before you use it! New cars are just not worth it in my opinion. [Post edited 28 May 2019 11:58]
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I'm in exactly same boat (well car) as you, except mine is the 2003 model. Great little run around, but i only do about 7k miles a year.
When i studied engineering, we were taught that the carbon footprint of manufacturing a car, was about equal to that the car would emit out of its exhaust during a typical life span. So if we were serious about reducing carbon globally, we should stick to driving bangers.
That said, our TDIs chuck out some nasty gases, which when used in a built up environments can be really detrimental to the air quality. So their fine for use in the countryside, but in built up cities and on congested roads, they are bad for our health. | | | |
| Best way to buy a car??? on 10:39 - May 29 with 3035 views | Batterseajack |
| Best way to buy a car??? on 21:21 - May 28 by ItchySphincter |
It’s renting a car init. 4K per year for four years - 16K out with nothing to show at the end of it, whereas 16K buys you a big chunk of second hand premium luxury which you can at least get something back on in four years. Leasing is a mugs game, designed to prop up the car industry and largely aimed at people too young to have better sense, and those who continually moan about not being able to get together a deposit for a mortgage whilst driving around in their poxy 1 series or A-class. |
Out of interest, did you pay a deposit on top of that? and if so, do you get it back at the end? | | | |
| Best way to buy a car??? on 11:10 - May 29 with 3021 views | Vincent_Vega |
| Best way to buy a car??? on 10:37 - May 29 by Batterseajack |
I'm in exactly same boat (well car) as you, except mine is the 2003 model. Great little run around, but i only do about 7k miles a year.
When i studied engineering, we were taught that the carbon footprint of manufacturing a car, was about equal to that the car would emit out of its exhaust during a typical life span. So if we were serious about reducing carbon globally, we should stick to driving bangers.
That said, our TDIs chuck out some nasty gases, which when used in a built up environments can be really detrimental to the air quality. So their fine for use in the countryside, but in built up cities and on congested roads, they are bad for our health. |
They're great cars. Personal opinion I think the VW's (and by extension Skoda, Audi, Seat etc.) from around that time are brilliantly built, better than the later models. Like you I'll do well to get 6-7K miles in a year. It carries dogs, kids, camping gear hell I shoved half a garage full of rubbish in there once to take to the dump no problem.
Yeah the TDI's aren't exactly clean, if I fancied a trip to the big smoke it would cost near £25 a day just to drive it and with current policy more Cities are going to follow and that might change my thinking. My take is fair enough they're bad but what's happening with the gasses from massive commercial vehicles which are filthy, I may be acting twp but the tech for HGV's and the like doesn't seem to have changed in 20 years.Anyone who cycles on the road will know what I'm on about when a lorry or bus drives past with a side exhaust.
Also the NCAP ratings on the older cars aren't great especially on the Older Passat's, Golfs and A4's which is understandable as safety improves. |  |
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| Best way to buy a car??? on 20:04 - May 29 with 2965 views | ladyjack |
I recently bought a four year old car as I could not justify the cost of the same car new. |  | | |
| Best way to buy a car??? on 03:04 - May 30 with 2902 views | Cooperman |
| Best way to buy a car??? on 07:22 - May 29 by Alberto_Swinglehurst |
One point. I read it’s better to buy a second hand16k car which you’ll own, rather than leasing. What happens if you don’t have 16k to spend on a car, but you do have a regular income and can afford the initial deposit on a barns new lease car? Seems a no brained to me. |
Lease deals very often don’t involve a deposit.
Mine is a straightforward case of receive car, make 48 scheduled monthly payments, hand car keys back to whoever comes to collect it. | |
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| Best way to buy a car??? on 09:40 - May 30 with 2819 views | dickythorpe |
| Best way to buy a car??? on 14:00 - May 28 by WandererJack |
No you have to source your own insurance but tax is covered by lender. |
Thank you. |  | | |
| Best way to buy a car??? on 10:06 - May 30 with 2806 views | fbreath |
| Best way to buy a car??? on 03:04 - May 30 by Cooperman |
Lease deals very often don’t involve a deposit.
Mine is a straightforward case of receive car, make 48 scheduled monthly payments, hand car keys back to whoever comes to collect it. |
Normally you pay X amount up front as your first payment and then X equal amount after that dependent on the lease term.
For example a 3 year lease would be 1 + 35 the first payment being equal to say 6 or 9 times the monthly cost then 35 equal payments. The higher the first payment the lower the monthly cost.
So if your monthly cost was £200 with 6 months initial payment you would pay 1 x £1200 and 35 x £200.
Some companies charge an admin fee so best to add that into the total term cost
when comparing quotes. |  |
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| Best way to buy a car??? on 10:23 - May 30 with 2789 views | Cooperman |
| Best way to buy a car??? on 10:06 - May 30 by fbreath |
Normally you pay X amount up front as your first payment and then X equal amount after that dependent on the lease term.
For example a 3 year lease would be 1 + 35 the first payment being equal to say 6 or 9 times the monthly cost then 35 equal payments. The higher the first payment the lower the monthly cost.
So if your monthly cost was £200 with 6 months initial payment you would pay 1 x £1200 and 35 x £200.
Some companies charge an admin fee so best to add that into the total term cost
when comparing quotes. |
It’s a case by case basis and dependant on what terms the provider is willing to offer.
My last three with Nationwide Vehicle Contracts have been 0+48, 0+36 and 0+36. | |
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| Best way to buy a car??? on 10:35 - May 30 with 2767 views | Darran |
I bought a Bentley Continental from new about four years ago it’s awesome.
I’ve been thinking about putting it for a Bentayga though because the grandkids are growing and we need more room.
The Bentayga’s look magnificent.
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| Best way to buy a car??? on 10:36 - May 30 with 2766 views | ladyjack |
I wasn't aware of such financial arrangements, my husband said the Maserati I wanted was too expensive brand new so I had to have an old one instead.  | | | |
| Best way to buy a car??? on 12:22 - May 30 with 2731 views | Alberto_Swinglehurst |
| Best way to buy a car??? on 10:06 - May 30 by fbreath |
Normally you pay X amount up front as your first payment and then X equal amount after that dependent on the lease term.
For example a 3 year lease would be 1 + 35 the first payment being equal to say 6 or 9 times the monthly cost then 35 equal payments. The higher the first payment the lower the monthly cost.
So if your monthly cost was £200 with 6 months initial payment you would pay 1 x £1200 and 35 x £200.
Some companies charge an admin fee so best to add that into the total term cost
when comparing quotes. |
That's what I do. I do not have the sums of money needed to buy a car which would serve my purpose, but I am able to fund it monthly. It makes perfect financial sense for me to lease in this way. | | | |
| Best way to buy a car??? on 13:31 - May 30 with 2690 views | fbreath |
| Best way to buy a car??? on 10:23 - May 30 by Cooperman |
It’s a case by case basis and dependant on what terms the provider is willing to offer.
My last three with Nationwide Vehicle Contracts have been 0+48, 0+36 and 0+36. |
Thanks for that, of all the times I have looked at their site II never noticed the 1 month initial rental payment option on their price calculator. | |
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| Best way to buy a car??? on 14:03 - May 30 with 2671 views | Cooperman |
| Best way to buy a car??? on 13:31 - May 30 by fbreath |
Thanks for that, of all the times I have looked at their site II never noticed the 1 month initial rental payment option on their price calculator. |
It’s very rarely advertised and instead I’ve had to ask for it; used it as a threat to go elsewhere. And now that I’ve had it once I can trot out the line that they did this for my last contract. | |
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