Buying a new car - HELP [Archive] - SV650.org

Shellywoozle

22-03-10, 11:51 AM

metalangel

22-03-10, 12:37 PM

Don't know much about it, but have a look at Broadspeed.com as they might have some good deals (and they show prices based on whether you want to buy or lease)

Sir Trev

22-03-10, 12:40 PM

PCP is a very expensive way of buying a car/bike - a large sum is left back and you pay interest on that all the time. You can give the car back and walk away if you like but it's like renting a house - you have nothing to show at the end of it. You are also liable for servicing (unless you can get a package for this) and road tax. Depending on how things look at the end of your term the amount offered against a new car (equivelent of part-ex) may be derisory. Ciroen lost a lot of customers this way a few years ago.

Leasing is also like renting a house in that you have nothing to show for it at the end. You may also be liable for servicing and road tax depending on the package - check this when asking for quotes.

If you can get a loan at a good price I would always buy outright. Trouble is if you don't have a good chunk of the 16k you need for the skip (sorry, Skoda) the monthly repayments will be higher than PCP or leasing. Go for a longer peiod to keep the payments down and you get the asset at the end of it (or up front if you use a third party loan like a bank).

Or buy a car that's a year old and save a fortune!

The Guru

22-03-10, 12:43 PM

PCPs and leasing are only good if you want to change your car on a regular basis like every 2 or 3yrs.

Biker Biggles

22-03-10, 12:45 PM

Dont buy new at all.Buy two years + old and save 40-50% of your money.

Shellywoozle

22-03-10, 12:53 PM

PCPs and leasing are only good if you want to change your car on a regular basis like every 2 or 3yrs.

that is what I want.

Dont buy new at all.Buy two years + old and save 40-50% of your money.

Have no dosh to be able to buy a car at mo .. but need a new car hence trying to find affordable way to do it without major bank loan repayments ...... but now thinking should I get a bank loan? But I would need £15k for the cars I want and the repayments are toooo big.

I have been paying £160 on a bank loan for my 206 for 5 years, it's mine but at the mo its worth £2k and I have £1500 on my loan to pay of so in effect I still will have nothing at the end of the 5 years loan. If I sell my car I will be paying off the loan.

I have ben driving round in an old car for 5 years and had to pay for tax, maintenance which is obvioulsy more on a old car.

I would lease for a 2 yr contract and chance every 2 years. I do less than £10,000 miles a year so wouldnt need to fork out for tyres and exhausts, road tax so should pay the lease price per month depending on what I have.

The Skoda VRS is £230 pm plus VAT. I have just spotted a deal on a Honda Civic Type S for £163pm plus VAT. OK not the performance car I wanted but still a brand new good looking motor for £40ish more than I pay for my Pug.

Not mine at the end of it but I will be driving around in a new car, no depreciation, no tax, no tyres, little maintenance as will have warranty.

But it's the not owning it I can't get my head around.... but would be cheaper than bank loan repayments on say a £15k loan for the Skip :) (Skoda) if I purchased myself.

Biker Biggles

22-03-10, 01:01 PM

Noble Ox

22-03-10, 01:02 PM

There is no point what so ever in taking a loan out to buy new. As in 5 years when you come to sell (like your 206) it will be worth pennies, and the monies gained from selling it will then only cover your remaining loan costs, so you will have nothing to show for anyways - so you may aswell lease the car.

But I suggest you take a loan for a second hand car. Less depreciation and less of a loan to take out. Never buy new IMO.

Shellywoozle

22-03-10, 01:12 PM

Not meaning to sound hard but it sounds like you cant afford it.If you are still paying for the existing car and cant raise much savings for the new one perhaps you should keep the one you have until its paid for,meantime try and save towards what you want?
Its a complete myth to say there is no depreciation on a lease car-----Its in the huge amount you pay the lease company for the use of their car after which you own nothing.

I was gonna wait til Oct when loan is paid off or roundabouts then, but as my brother drummed into me I am paying £160 for the next 6 months and my car will be worth less, be harder to sell due to time of year and I will be paying for road tax blah blah ............... cost £1400

If i sell my car and get £1750 I would get £350 cash in hand which will pay for a half a deposit on a lease scheme car.

So I will get a new car and still pay what I am paying now or thereabouts

OR

Sell car now get £2k ..... pay off bank loan - £600 in hand = full deposit.
Get a new car and pay £165 pm so by Oct I will have paid out £1700 approx but driving round in a newer car and get more dosh for my PUG.

See my way of thinking .... doing it now (albeit back to front) I am not payng much more to drive a new car for 8 months. And I will have 8 months of no maintenance that I may have on my 8 yr old car.

yorkie_chris

22-03-10, 01:13 PM

Shellywoozle

22-03-10, 01:18 PM

Sounds like a mental amount of money for a car. £40 a WEEK and you think it will save you money on maintenence? The older cars I work on generally get £300 a year on servicing and MOT repairs max.

+1 for eeeeh you've more money than sense thee

I keep my cars for years, had this one 6 .... I work hard and want a new motor but due to other things going on in my life I cant let go of a some cash I had saved up as I need it for summat else.

Want a new car and want the best way to be able to drive around in a newish one. Fed up of having cars for years, one before Pug I had for 9 years .... want to have summat to show for the mad hours I work.

Can't take it with me when I die........ <------- not that it gonna happen yet ;) hopes

yorkie_chris

22-03-10, 01:19 PM

Nice black GSXR750 then? :-P

lily

22-03-10, 01:21 PM

one of the main factors in a leasing company working out the lease cost is the depreciation of the vehicle.

I deal with leasing companys on a daily basis with my job, and the way the price of a vehicle can change from one week to the next.

Shell if you do lease, there are high bills to pay at the end if there is any excess mileage, or even a mark on the car. We don't get one vehicle go back where we don't owe something else at the end!

If you get a maintance package with it check what it include, espically tyres! Some have fair wear and tear, others will only replace should you be out of tread, and your respobility to cover punctures.

Check the terms as well. As all leasing companies will want 3 months rental up front. Most then want 23 or 35 payments after. We lease on 3 plus 33 with 2 months payment free at the end of the contract. The monthly payments are higher however overall you pay less!

Can you not sell something else to pay off the car loan, then keep your current car without the expenture of the loan, you car will be a lot cheaper to keep/ maintane

Shellywoozle

22-03-10, 01:22 PM

Nice black GSXR750 then? :-P

LOL selling Zuky soon ... you will see why I won't be needing a bike in the future ;) altho I will still be a 2 wheeler bird! So I saved me money there !!

But yeah I did think of a gixer instead of a car ha ha ha

Lily - thanks hun have you got any companies you dealt with that you can recommend. I worked out the 3 months plus 23/35 thing, some even want 6 month deposit but the payments are lower. My present car has £50k on clock and had £20k when I bought it, I do very little miles so the wear and tear would be low as would tyre wear.

It would be cheap to keep my car in Oct as it would be just maintenance but I want to drive around in a new car, 2002 model is ok I just want something nice. This is what doing the advanced driving course has done to me .... bad work !

lily

22-03-10, 01:36 PM

I deal with all the business account side of these companies however they do, do personal leasing

LexAutolease
Arval
Fleetline

Did have a lot more, but they have all taken over each other. Also try the manufactors leasing, but most of those don't come with manitance.

Sosha

22-03-10, 01:36 PM

Shellywoozle

22-03-10, 01:46 PM

206 is nice innit? Well nicer then my 106, which is way nicer (drier) than the '72 beetle...which was (Rustier) than the Metro my brother plattered with pot noodle.

Still your money... I struggle to group cars & nice in the same sentence tbh. Long as it works & has got a good amount of boot space.

Drive a shed. People give you more space.

LOL Sosha .... I once was gonna get a bashed up Land Rover so I could hit other people that cut me up, then I joined the job and had to scrap that thought. ;)

My 206 is nice but I want summat with some grunt .... I drove the VRS for weeks and fell in love with it which has started me on a car hunt.

The fact my brother drives around in one of these don't help

http://img258.imageshack.us/img258/5760/4doorm3copycopyyd3.jpg

keith_d

22-03-10, 01:52 PM

Just remember that the lease company has to meet all the same costs as you do, including the interest on the money they bought the car with. They also have to make a profit.

Leasing companies may be able to drive the costs down a bit with their additional buying power but it's not much for a one off lease. Lease 20 Octavias and it's a whole different game.

At work, we have the choice between taking the money or having a lease car. I'd say we're split about 50/50 at the moment so it's not an obvious decision. Mileage (more miles -> company car) and convenience (company car = less hassle) matter as much as the economics.

So in simple terms it's a trade off between cash and convenience. Are you willing to pay them a premium to save you time and annoyance?

Keith.

Shellywoozle

22-03-10, 02:02 PM

So in simple terms it's a trade off between cash and convenience. Are you willing to pay them a premium to save you time and annoyance?

Keith.

Ohhh I am so lazy that I would yes. grrrr next option which car LOL

I quiet like the look of the Honda Civic Type S

http://www.2fastlane.com/wallpapers/honda/Civic_Type_S_2007_1.jpg

(cheap less powerful Type R, same looks cheaper to run)

fizzwheel

22-03-10, 02:16 PM

Shelly is there anything wrong with your 206 ? If not why dont you keep it until the loan is paid off on it.

Then trade it in against the new car that you want and buy that way.

leasing I think makes sense if you do alot of miles, or change your car regularly. If the Skoda that you want is something you'd be likely to keep a few years then IMHO it makes sense to buy it outright.

As for the Type S, I wouldnt but only because I'd be forever thinking "why didnt I get the type R"

Of course with your 206 you are dealing with a known quanity, whereas you may well get stung for bills if you bought the new car, which again is where leasing makes sense, but I dont like the fact that I dont own the car even though I am paying monthly for it.

Milky Bar Kid

22-03-10, 02:16 PM

Type S also has more comfort inside, unlike the R which is basically just a sports model.

Viney

22-03-10, 02:54 PM

Has anyone had any experience with leasing cars.

What is better a PCP / leasing / buying outright.

Plus in leasing is you get road tax thrown in, car is new and less maintenance costs and you don't need a huge deposit which fits in with my finances at the mo.

Also the payments are probably lower than what a bank loan would be.

But buying the car is yours. Skoda are doing zero VAT and I am looking at VRS 200bhp super dooper model.... £16,000 new but I would need to buy that and have no deposit.

Argggh help !! Anyone gone through a PCP / leasing decision and which way did you go???Not really 100% on ti, but my boss used to lease his cars. He had a new one every 2 years. In the time i worked for him he had A CLS merc (AMGPack), A Astra VXR, A Dodge Nitro, A Crossfire. It all came down to what was available at the time. Most of the cars have 20K service intervals, so if you dont do huge milage, you maybe looking at 1 service in that period. You will have to buy tyres, bt again depends on your mileage.

Luckypants

22-03-10, 02:56 PM

There were rook of Civics out yesterday Type-R and Type-S all driven by slow sensible Honda owners (cough). The only speedy thing on the road yesterday was a Caterham going like the veritable bat out of hell! Luckily it was going the other way to us or red faces all round :smt059

Don't get a Honda Civic, the VRS is a great buy or a Seat Leon FR / Cupra (pricey). My mate had a VRS diesel that was plenty fast and frugal on a run. It handled the roads here very well. He had a nasty shock when he came to sell at one year old, eventually selling for 9.5K with 18K miles on it. Buy second hand if you can Shell, they are buttons compared to new at one year old.

Shellywoozle

23-03-10, 01:11 AM

Good points fizz ... after putting in for some quotes for a Civic and being told the Fiestas are a better deal at the moment and not getting the quotes I asked for I feel like banging my head up a wall.

Also just dribbled over my colleagues brand new 10 plate VRS in black on the works car park......... want one grrrr

Off to bed to ponder more ..... can you tell I am no good at decisions LOL

Thanks guys for your input xxx luvs ya all

5hort5

23-03-10, 01:29 AM

Just my two pennies worth but if you are buying a cage it's going to be for a reason and depending on said reason then a three door is a ******* to get a baby seat in and out of ;-)

Mike2165

23-03-10, 10:26 PM

For what it's worth, just ordered a car for my wife, doing it on a PCP, with the deposit, payments and residual value at the end, it's worked out to cost £500 more than buying it cash. We're doing it over 3 years. We think it's been the best way to get a new car for her. She's limited to 12,000 a year but that shouldn't be a problem for her. If we'd bought it outright, we'd still have the servicing etc to take care of. She managed to get mats, a tank of fuel, £500 of the original price and Suregard paint protection thrown in.

Shellywoozle

24-03-10, 01:28 PM

Just my two pennies worth but if you are buying a cage it's going to be for a reason and depending on said reason then a three door is a ******* to get a baby seat in and out of ;-)

Buying a new cage simply cause had mine for 6 years and fancy a change. I work hard and want a new toy. I have enough Ann Summers toys and they cost too much in batteries so I figured I'd buy summat bigger that recharges its own batteries ;)

I have no babies to consider at the mo as Ann Summers doesnt produce fully loaded toys so 3 doors is fine :)

Thanks for the concern tho ha ha ha

Specialone

24-03-10, 01:32 PM

Shell, i heard a advert for skoda today with Tiff needell, they are doing 0% finance on their new cars, dont know if you already knew this, just thought i'd share.

Shellywoozle

24-03-10, 01:40 PM

Shell, i heard a advert for skoda today with Tiff needell, they are doing 0% finance on their new cars, dont know if you already knew this, just thought i'd share.

Yeah they have been for a while, saving of over £3.5k brill deal. Get the 200bhp trip tronic super dooper VRS for £16.5k :)

This is why I am torn, if I lease its £320 a month for VRS but I could buy and have similar repayments I am just missing the massive deposit.

punyXpress

24-03-10, 05:04 PM

Only until end of month, though?
" skoda are doing 0% finance on their new cars "
And 50% deposit

Professor

24-03-10, 05:15 PM

Dont buy new at all.Buy two years + old and save 40-50% of your money.

I disagree. You can save 50% on a brand new car if you buy in the
right place at the right time. Say, a year ago I bought a brand
new Kia Magentis for £8460 which is half the list price.

LK-SV

24-03-10, 05:25 PM

I disagree. You can save 50% on a brand new car if you buy in the
right place at the right time. Say, a year ago I bought a brand
new Kia Magentis for £8460 which is half the list price.

£17,000 for a KIA Magentis !!!! :laughat: ..... Your half price, is about the right price !!

I bet your KIA turns out to be a very expensive car (to you) if you try and trade it in .... better with a 2 year old Focus that'll hold its money IMO

I've tended to buy a 12 month to 18month old car with 12k - 18k miles on it .... made some real savings ... and managed to get myself in to a better car (top end Audi's, Lotus Elise, etc) ......

Buying new is a luxury it sounds you can't afford ... and PCP, etc .... is all more pockets to line .....

Professor

24-03-10, 05:58 PM

£17,000 for a KIA Magentis !!!! :laughat: ..... Your half price, is about the right price !!

I bet your KIA turns out to be a very expensive car (to you) if you try and trade it in .... better with a 2 year old Focus that'll hold its money IMO

I've tended to buy a 12 month to 18month old car with 12k - 18k miles on it .... made some real savings ... and managed to get myself in to a better car (top end Audi's, Lotus Elise, etc) ......

Buying new is a luxury it sounds you can't afford ... and PCP, etc .... is all more pockets to line .....

You are right, the Magentis is overpriced. Still, 8.5K for a big brand new
car is good, IMHO. I've had it for a year now without any problems. And I
tend to keep my cars for around 15 years so depreciation doesn't bother
me. When you spread the cost over 15 years it works our pretty cheap.

LK-SV

24-03-10, 06:04 PM

You are right, the Magentis is overpriced. Still, 8.5K for a big brand new
car is good, IMHO. I've had it for a year now without any problems. And I
tend to keep my cars for around 15 years so depreciation doesn't bother
me. When you spread the cost over 15 years it works our pretty cheap.

If you keep it for even 8 or 10 years, then it is an absolute bargain ... depreciation is the biggest killer .. my problem is I get bored really quickly .... I lost the price of a nice brand New KIA Magentis (at half price:D) in one year once on a car !! :thumbdown: .....

Should be reliable too .... and to the blind :eek:... they look just like a small Merc !! :D

Professor

24-03-10, 06:14 PM

If you keep it for even 8 or 10 years, then it is an absolute bargain ... depreciation is the biggest killer .. my problem is I get bored really quickly .... I lost the price of a nice brand New KIA Magentis (at half price:D) in one year once on a car !! :thumbdown: .....

Should be reliable too .... and to the blind :eek:... they look just like a small Merc !! :D

I am a sad old man who doesn't mind driving the same uninspiring
motor vehicle for 15 years. Had a Toyota Carina for 15 years, from
brand new. Still have a Hyundai Accent, bought brand new, now in its
11th year (4 years to go). Have an SV, bought brand new, now its 7th
year (8 years to go).

Really sad.

Speaking of Mercs, the Magentis is indeed a rip-off of a Merc, at
least in overall shape. Now, my neighbour has an almost new Merc (a
genuine one) and he is having a lot of problems with the electrics
(thankfully, the car is still under warranty). I really enjoy
watching him having to call out the Merc repair people. Maybe I am a
bad person.

Shellywoozle

28-03-10, 06:46 PM

I have decided to lease ... after speaking to a horrid sales man at Arnold Shark who tried to convince me to buy one of his 200 6mth old Astras LOL .... even told me he'd pay my bank loan off..... yeah to what cost?

I am leasing a Honda Civic Type S - £220 a month to drive round in new motor for 2 years.

I have cleaned Puggy and she smells and looks lovely, cleaned inside and she is like new . .. . . . but I have my heart set on new Civic. Have looked into buying and a bank loan for a 2nd hand motor and a loan on a 10K car would cost me more than the lease cost so leasing is the way to go for me.

Thanks for your input guys.

Luckypants, looks like I will be driving slowly behind you xx

Luckypants

20-05-10, 09:38 AM

Luckypants, looks like I will be driving slowly behind you xx
Ha! Just caught up with this after something on FB. I'll get you your knitting and cardigan you owd gimmer. :D

L3nny

20-05-10, 01:20 PM

Not had time to go through all the replies but I looked into this a couple of years ago.

Made a spreadsheet, showed my working out and everything :D

Whichever way you do it, getting a brand new car is hugely expensive for the main reason that it will lose around 30% of it's value in the first year.

The best thing IMO would be to buy a car 1-2 years old and take out a bank loan. The car should be as good as new, barely broken in in most cases and with the money you save you could buy a private plate to hide the age.

I would never have a brand new car or bike as it would break my heart every time i got it muddy or put a little scratch on it.

I have since given up on nice cars, my current one is a piece of crap, cost's about £500 in repairs a year but that is nothing compared to depriciation on a new car.

Shellywoozle

20-05-10, 11:01 PM

Ha! Just caught up with this after something on FB. I'll get you your knitting and cardigan you owd gimmer. :D

Mike you will be pleased to know your cardi is coming on a treat.

For all those that don't know as I not been online since I swapped cars, I am now the owner of a 10 reg Honda Civic Type S ............ and I have to say I am surprised how nice it is.

And Kwak will tell you how well it handles in the corners :-dd (I kinda scared him ha ha ha).

Photos will follow if I can be ar$ed :)

And with the petrol I am saving a month and maintenance costs I am not paying on Peugoet I am paying out the same so can't be bad !! :)

BigBaddad

21-05-10, 06:50 AM

Buy an old banger or at leat a decent 2nd hand quality motor.....don't pay interest. You buy new at £16000 as soon as it turns a wheel you've lost £2000.......bad bad move.

oh too late.........see how much it's worth now.

yorkie_chris

21-05-10, 09:00 AM

maintenance costs I am not paying on Peugoet I am paying out the same so can't be bad !! :)

I know pugs are orrible french things... but they can't need that much maintenance can they?

Shellywoozle

26-05-10, 04:05 PM

I know pugs are orrible french things... but they can't need that much maintenance can they?

They can when the cat convertor is on its way our, knocking noises are appearing all the time and the computer reads 999.99mpg on average as there is summat on the ECU playing up. It was at that age where things needed changing and money needed spending .

Anyway this is Puggys replacement that has saved me a fortune on petrol already :)

http://sphotos.ak.fbcdn.net/hphotos-ak-ash1/hs552.ash1/32189_427318017802_624342802_5434302_3909489_n.jpg (http://www.facebook.com/photo.php?pid=5434302&id=624342802)
http://sphotos.ak.fbcdn.net/hphotos-ak-snc3/hs612.snc3/32189_427318002802_624342802_5434301_2219079_n.jpg (http://www.facebook.com/photo.php?pid=5434302&id=624342802)
http://sphotos.ak.fbcdn.net/hphotos-ak-snc3/hs612.snc3/32189_427318027802_624342802_5434303_7491_n.jpg (http://www.facebook.com/photo.php?pid=5434302&id=624342802)
http://sphotos.ak.fbcdn.net/hphotos-ak-ash1/hs552.ash1/32189_427318042802_624342802_5434304_3059958_n.jpg (http://www.facebook.com/photo.php?pid=5434302&id=624342802)

Off to sit in me rocking chair !

Luckypants

26-05-10, 04:13 PM

MMMmmm nice. Red would be better though! :smt077

Shellywoozle

26-05-10, 04:15 PM

MMMmmm nice. Red would be better though! :smt077

It was between the red and black Mike but I thought I would get something for Kwak to polish when he visits :) Red doesnt need so much work ROFL

Bluefish

26-05-10, 05:30 PM

did you have to put cash up front shelly, or is it just the £220 per month. Edit, now she tells us about all the things wrong with Puggy, lol.

Shellywoozle

26-05-10, 05:58 PM

did you have to put cash up front shelly, or is it just the £220 per month. Edit, now she tells us about all the things wrong with Puggy, lol.

No they not all gone yet and the cat convertor would have been done before I sold.... likewise the knocking noise was done on the day I sold it. Picked it up from garage at 5.15 and gave it to new owner at 5.30. (for all those that PM'd me re Puggy were given the history and low down) !!

8 year old cars are gonna need stuff :) and I started on Puggy and wasn't prepared to continue paying out when I could drive a new car for more or less the same as Puggy was costing me :)

At the mo I have not paid a penny for the Civic, should have had £1300 deposit taken from my account the day it was delivered .... still waiting for it to come out.