Buying a new car -methods ??

neil

Legendary member
5,167 747
Hi folks,
As an old git I am used to buying new cars vis credit. Garage is trying to convince me that other methods may be better where you have a future value allotted to your car and the opportunity to buy another new car; get a loan to pay off balance; or simply hand the car back (when I am considered to doddery to safely drive:D)
What do you guys think -pcp etc?
 

Mr. Charts

Legendary member
7,367 1,185
It's probably much cheaper to get a bank loan and buy a 12 to 18 month old car with it having shopped around the main dealers for the best deal and getting a guarantee with it, something like Ford Direct.
Although I haven't used them personally, also have a look at http://www.drivethedeal.com/
Richard
 

bustech

Experienced member
1,595 41
Noting wrong with a Norfolk country bus.
Mind you have not seen or caught one in 20 plus years.
 

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Mr. Charts

Legendary member
7,367 1,185
Neil,
Also the best times for deals with main dealers are in February and August before the new reg., just before Christmas when they are keen to sell anything, just before new models come in, and for used cars later September when they want to unload traded in stock.
Richard
 

Mr. Charts

Legendary member
7,367 1,185
PS Hope I'm not trying to tell a grandpa how to suck eggs ! Sorry if I am ! :)
Richard
 

0007

Senior member
2,376 660
I'm looking at leasing/contract hire etc -- which sounds a bit like some of the schemes you've been offered(non-business model) for my next motor -- anyone had experience of this? The economics are reasonably easy to work out but the one area that seems to have " dodgy" potential is the return after the leasing period when some companies appear to make their profits by classifying fair wear and tear as chargeable damage.
 

BeginnerJoe

Senior member
3,329 350
Whatever the scheme, you will end up losing. Best to not buy new because within 3 years it's worth only 3k or less on any insurance write off. If you must buy new, get a small car with small engine for 7k cash.
 

0007

Senior member
2,376 660
Whatever the scheme, you will end up losing. Best to not buy new because within 3 years it's worth only 3k or less on any insurance write off. If you must buy new, get a small car with small engine for 7k cash.

Mmmmm.... you're quite right but small underpowered cars are no fun. The reason I trade is so that I can treat myself to a fun car - Mini Cooper S at present. I suppose I could always settle for a new pair of shoes instead :LOL:
 

BeginnerJoe

Senior member
3,329 350
Mmmmm.... you're quite right but small underpowered cars are no fun. The reason I trade is so that I can treat myself to a fun car - Mini Cooper S at present. I suppose I could always settle for a new pair of shoes instead :LOL:

I don't know about you, the road tax on my 10 year old old-banger will overtake my insurance costs soon. Large engine is a road to loose not least from the speeding and passing red-light fines.
 

VielGeld

Experienced member
1,421 179
What I do is buy two (used) cars -- one for the summer, and one for the winter. The latter is a reliable Honda 4x4, and the former a (Japanese) sports car. In the used market you should be able to nab either of these in very good condition for $2.5k or less and they'll be good for years.

I also have my bike on the side as main transport during the summer, with the car being for whatever a bike isn't suited for. I save a heck of a lot on gas. :)

But if you're adamant about buying new-ish, then Mr. Charts' idea is best.
 
M

member275544

0 0
I'm looking at leasing/contract hire etc -- which sounds a bit like some of the schemes you've been offered(non-business model) for my next motor -- anyone had experience of this? The economics are reasonably easy to work out but the one area that seems to have " dodgy" potential is the return after the leasing period when some companies appear to make their profits by classifying fair wear and tear as chargeable damage.

this is how i always used to get my cars. Its worked for me for quite some years now. I also have my own business so there are some tax benefits but not a great deal. a couple years in and i just want a new model. This can work in exactly the same way for you Neil. I've just done that for a VW Touareg. I will hand it back in a couple of years time, or if i really love still then, so be it I'll buy it off them.
For me these sorts of ownership, for someone who wants to change their motor every few years and gets bored very quickly its ideal
leasing..wow you can get some really cheap deals these days. depends what the fleets have
anyway, good luck

Hey BJ, great to see you back again!
 
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pboyles

Legendary member
8,072 1,302
Hi folks,
As an old git I am used to buying new cars vis credit. Garage is trying to convince me that other methods may be better where you have a future value allotted to your car and the opportunity to buy another new car; get a loan to pay off balance; or simply hand the car back (when I am considered to doddery to safely drive:D)
What do you guys think -pcp etc?

Here you go Neil, you can get one off this fella with your 3k a week Dax profits.

http://m.bbc.co.uk/news/technology-24662263
 
 
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