Fed up with problems of 2nd hand cars

Milky_Mocha

Over the years I've been purchasing and using 2nd hand high mileage cars which serve us amazing well for about two years and then develop serious issues which render them worth next to nothing. I'm now looking to obtain 1 new and 1 low mileage car. I don't want to spend megabucks and am considering leasing. I used to think leasing was a stupid idea as you pay a big-ish deposit, so much monthly for years and have nothing to show for it at the end of the period unless you make another balloon payment. However, apparently there are no servicing costs and any repairs are carried out under warranty plus the car is new with virtually no problems. Can anyone recommend a leasing company/garage or whatever they are called which gives good deals?

Let me know if I'm being unrealistic but I don't want to pay more than 2k deposit per car and no more than £200 per month per car but would like a solid car which would protect us in the event of an accident, i.e. no Vauxhall Corsa for example. An estate for one of them would be perfect for our needs due to buggy.

Any input would be highly appreciated.

MiM

Mini_Bear

Why not get a low mileage company car at auction? i get mine 3 yrs old, with the highest spec. i always look on autotrader first for ideas of prices and usually find cars around the 8k mark on autotrader go for 6k at auction. i then work out that im 2k up so providing the car doesnt need a new engine im quids in. plus when you come to sell it no1 knos its been theu auction so usually only make a tiny loss if u sell after a couple yrs.
i pick fords and german stuff mainly.
the smaller cars sell better at auction so u should be able to pick up a decent size family car for little money.
worth just goin along to watch a few times i think.

Ebe_Scrooge

It's worth looking at ex-company cars - especially those that have been used by sales reps. In general, they will have been serviced at the correct intervals, and particularly sales reps cars will have been reasonably well looked after - it doesn't look good to turn up at a client's business in a tatty old banger :-)

The mileage will usually be high, but remember that most of this will be motorway miles, which means far less wear and tear on brakes, clutch, gearbox, suspension etc. than a car that's been used around town.

Of course, this is a generalisation and you must make sure you satisfy yourself as to the condition of the car, but you can pick up some bargains this way. I have 2 friends who are sales reps, and when they moved jobs they both took the option to buy their car from their employer - and have had no problems. Of course, they were in a slightly better situation as they'd driven the car from new, so knew it's history, and how it had been driven, but they ended up with a reliable car much cheaper than they could have bought privately. It may be worth considering.

Milky_Mocha

thanks so much for all the advice - and verygood advice ttoo. The ones we got were good deals too at the time and the cars drove really well with zero problems for two years on average until something major goes and that's it. For example we picked up a Merc E320 Avantgarde auto estate diesel for 8k two years ago. It had done 107k miles and drove like a dream literally up until last week when the cataclytic converter (I know I spelt that wrong!) went and apparently it'll cost 2k to fix so virtually useless. I doubt anyone will buy it now as I don't want to spend that much on repairs. We got a turbo diesel golf which looked amazing and drove perfectly for two years and the turbo suddenly went. Every time we do a service we spend bits and pieces on this and that and I'm totally fed up. Is it true the lease companies pay for servicing and repairs are under warranty? That alone takes a lot of hassle out.

If I can check out some good sites for leasing and then go to an auction as suggested I can make some informed choices.

Thanks so much.

mrscb

ex mobility cars go to auction,the oldest they will be is 3 years old and should have been serviced correctly...

foofi22

Milky_Mocha wrote: »

....drove like a dream literally up until last week when the cataclytic converter (I know I spelt that wrong!) went and apparently it'll cost 2k to fix so virtually useless.

How do you mean the catalytic converter 'went'? Mine needed replacing on my 106 recently - Peugeot quoted over £700, it was done independently for less than £150.

thescouselander

I've been having the same thoughts myself. Not sure the OP has done the maths properly on leasing though. Yes you pay your money and have to give the car back but that doesn't mean you have nothing to show for it - you have had the use of a new car for the lease period. Also, with the right deal you are only paying the depreciation on the car which is a loss you will incure anyway.

I thought seriously about leasing for a while but I think I am coming round to the idea of buying a car that is less than 1 year old with the majority of the warrantee remaining. I'm sure the OP could get something similar for the money available.

AdrianHi

Milky_Mocha wrote: »

thanks so much for all the advice - and verygood advice ttoo. The ones we got were good deals too at the time and the cars drove really well with zero problems for two years on average until something major goes and that's it. For example we picked up a Merc E320 Avantgarde auto estate diesel for 8k two years ago. It had done 107k miles and drove like a dream literally up until last week when the cataclytic converter (I know I spelt that wrong!) went and apparently it'll cost 2k to fix so virtually useless. I doubt anyone will buy it now as I don't want to spend that much on repairs. We got a turbo diesel golf which looked amazing and drove perfectly for two years and the turbo suddenly went. Every time we do a service we spend bits and pieces on this and that and I'm totally fed up. Is it true the lease companies pay for servicing and repairs are under warranty? That alone takes a lot of hassle out.

If I can check out some good sites for leasing and then go to an auction as suggested I can make some informed choices.

Thanks so much.

Ah, that kind of car.
By *that* kind of car I mean those that tend to hold around 44% or better of their original list price at 3 years old when the warranty runs out. We're talking VW, Merc, BMW, Audi etc.
If you do the sums on the cost of, say a 6 month old VW Golf that's had the initial depreciation sting taken out of it the monthly depreciation bill does not change much until it's around 5 or 6 years old. Past 36 mnths old you either buy a warranty or become liable for repairs, MOT has to be paid for, breakdown cover has to be paid for and by the time you have added all this up the average monthl cost of the car 37 months old to 48 months old is much the same or may be more than the average monthly cost months 6 to 36.
Months 6 to 36 - the 2nd cheapest way to have the use of this type of car. The cheapest is beyond the 5 or 6 year point where depreciation slows to a crawl and then you have to be lucky with repairs. It's not much cheaper than having the equivalent car 6 to 36 months old though.
Exceptions to this rule are the sudden deprecation we saw last year of all cars, the formula got broken then, but this year prices are firming up again.

This formula does apply to cars like Fords, Renaults etc. which loose lots more of their vakue in year one and then loose it very slowly there after making months 37 onwards better value than they are for your merc, Audi, BMW etc.
My conclusion is, people will pay more than they should for this type of car when it is 3 years old.

If you can get the Merc fixed at an independant garage for a more sensible sum, do that and keep it. It's got to that best value for money age so long as the repair costs don't get out of hand. The Merc. dealer will be trying to fleacing you I suspect.

elantan

if you read my post it might explain i am going through a similar (though not the same ) quandry ...when we first got our car it was less than 1 year old had 10,000 on the clock and have had nothing but a nightmare time of it all the car is a 53 plate so we havnt had it all that long but if i was to add the same amount it cost to fix the problem as last time ...in the last three years we will have spent 10,200 fixing the thing ...(spent £1,200 last year) i hope you get it sorted will keep a wee eye out and see what you decide to do ...i dont know if i want to go to auction though i know nothing about cars

goldspanners

Milky_Mocha wrote: »

For example we picked up a Merc E320 Avantgarde auto estate diesel for 8k two years ago. It had done 107k miles and drove like a dream literally up until last week when the cataclytic converter (I know I spelt that wrong!) went and apparently it'll cost 2k to fix so virtually useless. I doubt anyone will buy it now as I don't want to spend that much on repairs. We got a turbo diesel golf which looked amazing and drove perfectly for two years and the turbo suddenly went.
.

get the merc to an independant to try and source an after market exhaust, if they cant then get it to a place who will actually make you exhaust parts,including cats,or they might modify a cat to suit your car.
get a second hand or reconditioned turbo for the golf and then run both cars for another while hopefully fault free.
that would be a much cheaper option than forking out for new car every few years.

jeannieblue

goldspanners wrote: »

get the merc to an independant to try and source an after market exhaust, if they cant then get it to a place who will actually make you exhaust parts,including cats,or they might modify a cat to suit your car.
get a second hand or reconditioned turbo for the golf and then run both cars for another while hopefully fault free.
that would be a much cheaper option than forking out for new car every few years.

Exhausts Unlimited do cats now... Think they are a nationwide company.

Meanwhile - no one has given the OP any ideas on leasing companies. I've never leased, so can't give a view.