Cars

[bring the ghost on]

70% of new VW's are sold on PCP.

You're sticking a wedge of cash into a depreciating asset

But at £200 pm, I'll have paid another five grand over two years anyway...

 

[Gwladys St. Glory]

There's what you want, what you need and what you can afford...enjoy the struggle.

 

[bring the ghost on]

Bloody hell, sorry I asked now...

 

[Tramps_mate]

70% of new VW's are sold on PCP.

You're sticking a wedge of cash into a depreciating asset

The old saying 'If it depreciates, rent it. If it appreciates, buy it.' Applies to new cars without a doubt IMO...

 

[Tramps_mate]

Bloody hell, sorry I asked now...

The other side of it is..

If you buy as new a car as you can, then aim to keep it for at least 4-5 years to get your moneys worth out of it.

 

[Jacko93]

Why do you want to put £7k into a car?

You could put a grand in and walk out with a new one on PCP for less than £200 per month and get a years free insurance

Best thing I did was PCP. If I buy a used car, the upkeep is mine to pay for. However on PCP I get a brand new Audi pretty much every two years, and they dont cost me a penny in upkeep, as Warranty covers the majority of issues. (There are of course occasions when you might have to shell out, but on the one occasion I have I wrte a letter to Audi and got a refund on goodwill). Generally get them to tax it for one year, then I only have 1 year of tax to pay for.

At the moment I took PCP on 20k miles per year over 3 years. I'm doing less that half that now, so the value of the car will increase above my guranteed payback, adding further to the deposit for my next vehicle bringing down payment, or at least allowing me to go up a model.

 

[Gwladys St. Glory]

Best thing I did was PCP. If I buy a used car, the upkeep is mine to pay for. However on PCP I get a brand new Audi pretty much every two years, and they dont cost me a penny in upkeep, as Warranty covers the majority of issues. (There are of course occasions when you might have to shell out, but on the one occasion I have I wrte a letter to Audi and got a refund on goodwill). Generally get them to tax it for one year, then I only have 1 year of tax to pay for.

At the moment I took PCP on 20k miles per year over 3 years. I'm doing less that half that now, so the value of the car will increase above my guranteed payback, adding further to the deposit for my next vehicle bringing down payment, or at least allowing me to go up a model.

It's not all win though, unless you want a car payment for the rest of your life...let's not kid ourselves here.

 

[Jacko93]

It's not all win though, unless you want a car payment for the rest of your life...let's not kid ourselves here.

If I dont want to continue paying for my car, I can just buy it off them at the pre-agreed price. So if I look after my car, and do less miles in it that I originally expected, (As I am now) I can concievably expect the car to be worth more than original estimates at eth end of the term. I can just get a loan for that amount and pay the final amount off.

A lad I know gave his car back to them, went to the Auto auctions and bough it back for cheaper. He had inside infor on where stuff would be sold though, so its not like that can happen all the time.

 

[wembley84]

Best thing I did was PCP. If I buy a used car, the upkeep is mine to pay for. However on PCP I get a brand new Audi pretty much every two years, and they dont cost me a penny in upkeep, as Warranty covers the majority of issues. (There are of course occasions when you might have to shell out, but on the one occasion I have I wrte a letter to Audi and got a refund on goodwill). Generally get them to tax it for one year, then I only have 1 year of tax to pay for.

At the moment I took PCP on 20k miles per year over 3 years. I'm doing less that half that now, so the value of the car will increase above my guranteed payback, adding further to the deposit for my next vehicle bringing down payment, or at least allowing me to go up a model.

How much d'u pay a month mate just out of interest !?! And does it include insurance / wear and tear or just the manufacturers warranty ? Thinking about changing my motor in the next 12 months and not sure which way to go.

 

[Jacko93]

How much d'u pay a month mate just out of interest !?! And does it include insurance / wear and tear or just the manufacturers warranty ? Thinking about changing my motor in the next 12 months and not sure which way to go.

Is not cheap mate, but it works for me. Have to pay my own insurance, and outside of any manufacturers warranty, it's all your own cost, on top of any repayments. It's not a decision to jump in to, clearly there are pros and cons, and as Gwladys says it's not all wins, but, it works for me as I want a nice car that I can change every few years.

 

[Baines' left foot]

My car does that just a matter of getting used to it.

Got my 10 year old Focus back now.



Need to ask for a company car, really.

 

[Gwladys St. Glory]

Is not cheap mate, but it works for me. Have to pay my own insurance, and outside of any manufacturers warranty, it's all your own cost, on top of any repayments. It's not a decision to jump in to, clearly there are pros and cons, and as Gwladys says it's not all wins, but, it works for me as I want a nice car that I can change every few years.

That's exactly who leasing is for or, like me, you don't want to go all in on a brand new model/platform in case there are major faults that develop or you're not sure if you'll be able to hack years of getting in and out of a car that's less than 5" off the ground. Depending on your credit rating you can also get them to go over the typical 24-36 months and basically make them eat all the depreciation and still retain coverage on most of, if not all, of the major warranty items by going for 60 months...which is what I did. It can work for a lot of people, depending on how you play your cards and your intent with the vehicle. I'm coming up on 24 months in so I fully expect them to start sending me letters to trade up in an affort to recoup any losses. Then the fun begins...

 

[Jacko93]

That's exactly who leasing is for or, like me, you don't want to go all in on a brand new model/platform in case there are major faults that develop or you're not sure if you'll be able to hack years of getting in and out of a car that's less than 5" off the ground. Depending on your credit rating you can also get them to go over the typical 24-36 months and basically make them eat all the depreciation and still retain coverage on most of, if not all, of the major warranty items by going for 60 months...which is what I did. It can work for a lot of people, depending on how you play your cards and your intent with the vehicle. I'm coming up on 24 months in so I fully expect them to start sending me letters to trade up in an affort to recoup any losses. Then the fun begins...

I looked leasing a vehicle, but found that it was cheaper for me on PCP in the long run, unless I could go on a business lease. Different strokes for different folks. If it goes to proveone thing though, its worth spending your time looking up all the different choices, but always bearing one thing in mind, spend no more than what you can afford. I generally look at what I can afford and take off 10-15%.

 

[typerkid]

After 24 years of driving I sold my buisness last year and bought my dream car..golf gti with dsg gearbox.
Best car I ever owned or driven Imo.

 

[Reidy's Bottle Of Grecian]

Yay, Her car just passed MoT which is a relief that its not gonna cost me anything, and my insurance company has told me that my whiplash will be settled soon.