£250 per month budget for new car old car pcp?

kazzys51

hi all looking for some advice,
we need a car to do around 50 miles a day budget in total for insurance petrol r tax and the car itself is £250 per month we dont really care what it is as long as its reliable,

ive been on all the sites looking at pcp and hp but find it a bit brain frying the best deal ive found so far is smart 1000.o dep then 99 pm thats for new pcp but cant find a deal to match it so as i can compare the car is anyone in the same boat or done this ? any info wud be fab! kazzy

Pew_Pew_Pew_Lasers!

If all you can afford is £250 a month you should buy a cheap sub-£1000 banger and run that instead.

Want something newer? Run the banger, and put the rest in the bank until you can afford to buy outright.

ses6jwg

Buying cars on finance = for mugs.

Buying brand new cars on finance = for mega mugs.

Get a reliable banger - they do exist, and run that whilst you save.

Something with a diesel engine, ideally non turbo. German parts pref.

Skoda Fabia 1.9 SDI
Polo SDI
205 DI

ahillsy

ses6jwg wrote: »

Buying cars on finance = for mugs.

Buying brand new cars on finance = for mega mugs.

Get a reliable banger - they do exist, and run that whilst you save.

Something with a diesel engine, ideally non turbo. German parts pref.

Skoda Fabia 1.9 SDI
Polo SDI
205 DI

Well, buying a car on 0% finance doesn't make you a mug of course - Skoda were doing 2 years 0% finance, with "VAT-off" + room for haggling.

jaydeeuk1

ses6jwg wrote: »

Buying cars on finance = for mugs.

Buying brand new cars on finance = for mega mugs.

Not entirely true.
I bought an iq3 on pcp with scrappage for £10k. My old car had given me 5 years almost trouble free motoring but things like non working heating/aircon meant I couldn't use it in winter, and MOT would have been nearer £400 than the usual £250ish.

It also cost £120 a month in petrol, £180 a year in tax and £500 a year insurance. Plus it was worth scrap at best. General maintenance about £300 / year

My new car costs £50 a month in petrol, £35 a year tax and £200 a year insurance. Plus no MOT / repairs as all under warranty. £200 / month PCP with guaranteed value somewhere around £6000 after 3 years.

Old car / year cost is £2670 (this year would have been £2820)
New car / year £3235

A brand new car is in effect costing me an extra £565 a year, or £1695 over 3 years more than a banger.
However, I reckon after 3 years, my IQ could be worth around £7000, so if I sell the 3 years would only cost me an extra £231. You'd be a mug not to get a new car on PCP at that price.

Lemonade_Pockets

ses6jwg wrote: »

Buying cars on finance = for mugs.

Buying brand new cars on finance = for mega mugs.

I think your the mug if your narrow mindedness leads you to post inaccurate generalisations.

However having said that OP about half of your budget is going to go on fuel, which doesn't leave a lot for finance and insurance etc.

A cheapie diesel is the way forward e.g VW group 1.9 TDI.