New Car Time

Discussion in 'Bulletin Board ARCHIVE' started by NorfolkRed, Aug 28, 2014.

Page 2 of 2
  1. Andy Mac

    Andy Mac Well-Known Member

    Joined:
    Apr 26, 2006
    Messages:
    12,262
    Likes Received:
    12,457
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    IT
    Location:
    Sweet Home Bingley.
    Style:
    Barnsley Dark
    Cheers
     
    Andy Mac, Aug 29, 2014
    #21
  2. The

    TheFlash New Member

    Joined:
    Aug 13, 2007
    Messages:
    1,572
    Likes Received:
    1
    Trophy Points:
    0
    Location:
    London
    Home Page:
    Always check the market value of a PCP car before handing it back. I had no interest in keeping my car, and the the final payment was £5k. However, the value of the car was £7k, so I sold it privately and then settled up with the dealership but finished £2k better off.
     
    TheFlash, Aug 29, 2014
    #22
  3. Farnham_Red

    Farnham_Red Administrator Staff Member Admin

    Joined:
    Jul 18, 2005
    Messages:
    34,501
    Likes Received:
    23,943
    Trophy Points:
    113
    Location:
    Farnham
    Style:
    Barnsley
    Very valid - but you can mitigate that by service packs and extended warranties- my old 407 coupe warranty cost £300 per year to extend and I chopped it in when it was 6

    It was 1 when I bought it with 2 years manufacturers warranty left so I extended it to 6 best £900 I ever spent as I have 3 big claims on it which would have cost around £3K - I couldnt extend the warranty anymore so it was a no brainer to chop the car in.

    To my way of thinking if you want a new car every 3 years and do average or low milage PCP is the best way to get cars you couldnt otherwise drive
    If you arent that fussed about the new bit especially if doing higher milage it becomes quite expensive and you can do better with a 1-2 year old car and keep it for 4-5 years - its really down to personal choice.

    Of course if you actually have the cash - buying a new car outright negotiating discount as a cash buyer and chopping it in after 3 years is cheaper - but that only works if you have large savings you dont mind burning
     
    Farnham_Red, Aug 29, 2014
    #23
  4. kez

    kez Well-Known Member

    Joined:
    Sep 3, 2006
    Messages:
    893
    Likes Received:
    339
    Trophy Points:
    63
    Home Page:
    Style:
    Barnsley (full width)
    Got mine straight from Audi in Manchester the one in Wakefield were in cloud cuckoo land, had 4 from them now
     
    kez, Aug 29, 2014
    #24
  5. Mike Lowry

    Mike Lowry Well-Known Member

    Joined:
    Aug 9, 2011
    Messages:
    3,481
    Likes Received:
    1,171
    Trophy Points:
    113
    Location:
    The lap of the Gods.
    Style:
    Barnsley (full width)
    My simple rule of thumb is this:

    - If something accrues value then buy if possible (houses)
    - If something depreciates in value then lease/rent (cars/phones)

    I was looking for a car for my Mrs recently. I went to a Citroen dealer to look at a DS5. 1 year old, 9k miles on the clock. Valued at 18,875. The finance 'deal' came in at £450 per month with 1k deposit.

    I went to Sandal BMW and got her a brand new 1 Series Sport 16i on PCP with just £500 desposit and £269 per month. In 2 to 3 years they'll be in touch to see if she wants to swap it for a new version. BMW now have a customer for life.
     
    Mike Lowry, Aug 29, 2014
    #25
  6. Mid

    Mido Well-Known Member

    Joined:
    Apr 1, 2006
    Messages:
    12,040
    Likes Received:
    7,406
    Trophy Points:
    113
    Style:
    Barnsley (full width)
    Agree with you mate, depends on people's preferences but once you get your head around the fact that you don't own the car it would be daft for someone in my position to do anything else. Helped me as I don't have a penny of savings so a small deposit made it even more attractive to me.
     
    Mido, Aug 29, 2014
    #26
  7. Farnham_Red

    Farnham_Red Administrator Staff Member Admin

    Joined:
    Jul 18, 2005
    Messages:
    34,501
    Likes Received:
    23,943
    Trophy Points:
    113
    Location:
    Farnham
    Style:
    Barnsley
    Just remembered a good website for getting some ball park figures

    http://www.newcar4me.com

    Just for a laugh plugged in a Jag XF 2.2d [200] Premium Luxury and over 3 years the PCP is £706 per month -10 000 miles £1000 deposit
    That goes up to 768 for 20000 and 825 fpr 30 000 miles so was a bit pessimistic with my mileage weighting above

    They dont publish rates for 3 and 5 series BMW though annoyingly
     
    Farnham_Red, Aug 29, 2014
    #27
  8. Ext

    Extremely Northern Well-Known Member

    Joined:
    Aug 9, 2011
    Messages:
    11,753
    Likes Received:
    1,949
    Trophy Points:
    113
    Occupation:
    Professional Northerner.
    Location:
    Preparing for the 4th division
    Style:
    Barnsley (full width)
    Extremely Northern, Aug 29, 2014
    #28
Page 2 of 2

Share This Page