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Car Leasing.

Philim said:
Then you should lease. You are throwing money away.
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no I am not, with the level of repayment budget I have, I always look at both options and over the period of time I am talking about PCP is always better for me.
 
Thanks everyone for a great summary and links.

Well worth thinking about, as; I hadn't realised monthly payments may well be a lot less than I thought, and I've just had my six year old car off the road for a month with a utter huge bill (hopefully a one off)!

Cheers.
Keith
 
gintonic said:
no I am not, with the level of repayment budget I have, I always look at both options and over the period of time I am talking about PCP is always better for me.
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I meant no offence but if you never retain your vehicle then PCP is not the best product for you that's all I am saying. PCP is simply a leasing product + additional payments to build up equity at the end to encourage you to repurchase with that oem. Those additional payments are effectively wasted.
 
Since the original point of this thread was to explore ways that my daughter might obtain a new car after having TWO cars written off in 'no fault' accidents in 12 months, I thought I'd just put this up.

She replaced her black and white 13 plate Citroen DS3 1.6 Sport whatever...
With one like this. Same power plant but extra goodies.

citroen-ds3-02.jpg


She is now a happy bunny again. A vehicle which lives up to her designer sensibilities and perceived status... ;) A second hand purchase, but utterly mint all leather etc., inside, low miles and very very tidy exterior. The best of many we've looked at.

TBH, the specs scare me. 155bhp and about 130+mph. But she only went for this to get the trim level and looks.... she says...

And she paid cash.

Fancy a go of this thing myself so might sign up for a 24 hour cover and borrow it for a day.... :D

Vroom VROOM!!!!! :D


Mull
 
Philim said:
I meant no offence but if you never retain your vehicle then PCP is not the best product for you that's all I am saying. PCP is simply a leasing product + additional payments to build up equity at the end to encourage you to repurchase with that oem. Those additional payments are effectively wasted.
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my PCP repayments and the deposit always come in lower than normal leasing. Last car had such a small deposit it was just to hold the manufacturing slot. The remainder of the deposit was cleared by a combination of dealer contribution and equity in the previous vehicle.
 
linnfomaniac83 said:
If you buy carefully and look after a car properly then a used car with a few miles on it should be good for more than shopping mileage. I drove an 18 year old Golf GTI to Scalford and back (56 miles each way) on Sunday with absolute confidence that I'd have no issues!

A two or three year old DS3 should be probem free for a few years and that's the route I would take. I have never brought cars new.
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I have a 28 year old 230TE Merc. Drive it to/from work every day 68 mile round trip. I never even think about. On my days off, we pop down to the Brecons or Cornwall for a few days, probably do 500 miles. Don't even think about it. Every couple of months we pop up to Newcastle or Avimore for a few days. Again, never give it a thought. It goes. It's quiet. It's comfortable. We've had it for the past 22 years. Complete confidence.

The other Merc is much newer, more economical and in another 22 years.....................:)
 
Mrs Mull is still driving an absolute shed of a 15 year old Punto.
Her cars are rather like a huge handbag. Full of crap.

Before I decided I'd had enough of arsing about under cars, I changed the power steering. Also fixed a cylinder head leak. I'll change the oil if I'm in the mood, but that's it now.

She just spent £120 on an auto electrician to sort out numerous niggles with lights and power windows.

Car is probably worth about £150.. but to replace it would cost a lot more so this is cheap motoring. She rarely ventures more than 30-40 miles from home so if the thing dies it's no biggie.

I have however just reminded her again that the cam belt hasn't been changed ever.. AFAIK. I could do it.. but I won't. I can't be arsed.
So we shall see. :)

Mull
 
Don Atkinson said:
I have a 28 year old 230TE Merc. Drive it to/from work every day 68 mile round trip. I never even think about. On my days off, we pop down to the Brecons or Cornwall for a few days, probably do 500 miles. Don't even think about it. Every couple of months we pop up to Newcastle or Avimore for a few days. Again, never give it a thought.
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I'm the same with the Mondeo. 500 miles PW from Nov until now, flawless. 134k, 15yo, does all I want. Modern cars just go and go.

Mull, I know what you mean with the cambelt. The way I view the gamble is how I'd feel if it went. If "good, that's the end, time for a new car" then great. If "oh bugger I wanted to get another year" then pay a man if you CBA doing it DIY.
 
Nic Robinson said:
Reminds me of my grandad who never had an accident but saw thousands. :)
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Should maybe have mentioned that she's had two others in her 6 or 7 year driving career so far. Both minor low speed knocks which she owned up were her fault.

But the first write off last year was a Taxi driving into the back of her at speed when she was stopped at lights. Bounced her into the car in front. Second a few weeks back. Rammed side on by a bus which emerged from side road as she was rounding a roundabout. Neither her fault.

Mull
 
Mullardman said:
Mrs Mull is still driving an absolute shed of a 15 year old Punto.
Her cars are rather like a huge handbag. Full of crap.

Before I decided I'd had enough of arsing about under cars, I changed the power steering. Also fixed a cylinder head leak. I'll change the oil if I'm in the mood, but that's it now.

She just spent £120 on an auto electrician to sort out numerous niggles with lights and power windows.

Car is probably worth about £150.. but to replace it would cost a lot more so this is cheap motoring. She rarely ventures more than 30-40 miles from home so if the thing dies it's no biggie.

I have however just reminded her again that the cam belt hasn't been changed ever.. AFAIK. I could do it.. but I won't. I can't be arsed.
So we shall see. :)

Mull
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Taking my banger in for a cambelt tomorrow, found a nine year old Grand Scenic with only 33,000 miles appears to be all genuine too. Only thing I couldnt pin down was whether the belt had been done. So new pullies, belt and water pump tomorrow.
 
Leasing companies still seem to be betting on diesel cars having better residuals than petrol equivalents - in which case I think they are wrong over next 3-4 years. Or maybe car manufacturers are dumping diesels on fleet buyers?
 
Saw a Golf gti on a 5k lease for £131 over 24 months. £2400 deposit. Amazing deal for a great car.
 
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