Help with finance with Nissan Quashai

fifi35

I want a Nissan Quashai and have £1500 deposit only. Nissan has quoted £1500 deposit, 36 x £238 per month. At the end of 3years can give it back, trade in or buy. Minimum guaranteed value at the end of 3yrs is 6k.

Contract hire. £1200 down. £199 per month for 24 months. £239 document fee.

Don't mean to sound thick but what is the best deal?

Can't get my head around the first one.

Pew_Pew_Pew_Lasers!

The best deal is to buy a car which you can afford, and clearly you cannot afford a Quashai.

fifi35

I didn't ask for an opinion on what I can afford.
I asked what was the best deal.
If anyone has some constructive comments then they will be much appreciated.
Thank you

no_more_cards_for_me

Is the £199 plus VAT and with or without maintenance.

What spec for the Nissan

Hintza

no_more_cards_for_me wrote: »

Is the £199 plus VAT and with or without maintenance.

What spec for the Nissan

AQnd to add to that


Also do you get VED paid on the lease? £1500 down payment seems high it should normally be 3 months. What are the mileage restrictions and excess charges?

Easiest way is to add it all together and then calculate it as a monthly charge. On the face of it the contract hire is cheaper but that assumes you just hand the car back.

plane_boy2000

Op - is this a brand new car?

AdrianHi

The first set of figures look like a PCP deal. The £238 a month is meaningless for calculating real cost because come trade in time you will get market value for the car which they guarantee will be at least £6000 but it could and probably will be worth more. This brings the real cost of the PCP down but you cannot predict exactly what the cost will be. So it is not clear cut which is the best deal.

One way to consider it, you cannot get out of the 36 month lease, you can get out of the PCP by selling the car and paying off the finance but with such a small deposit being paid you would be in negative equity until later in the 3 years.

fifi35

Thanks very much for all the constructive replies. I think I will go with the 3yr option and hopefully get some equity at the end of it so that I can trade it in for a new car.

Thanks again.

Fifi.

petrolhead69

With several grand in credit card debt and only having £1500 saved up do you really NEED to be getting yourself further in to debt just to buy a brand new luxury 4x4? You could buy a £1500 car just now, put £238 a year plus whatever else you have left over from paying your credit cards into a savings account for 3 years and I bet you would be better off for it. I'm very glad we bought a £500 banger instead of a nearly new X3 like we were looking at previously, the extra money is a godsend.

Jay_Tee

petrolhead69 wrote: »

With several grand in credit card debt and only having £1500 saved up do you really NEED to be getting yourself further in to debt just to buy a brand new luxury 4x4? You could buy a £1500 car just now, put £238 a year plus whatever else you have left over from paying your credit cards into a savings account for 3 years and I bet you would be better off for it. I'm very glad we bought a £500 banger instead of a nearly new X3 like we were looking at previously, the extra money is a godsend.

I don't think the Nissan Qashqai the OP is thinking of getting is a "luxury 4x4" most of the Qashqai range are front wheel drive, and really takes the same position in the Nissan range that the Golf does in VW's range.

Like the O,P cars are one area that I'm not happy to make huge economies in, when I look at getting a new car, I want something that is going to be safe (as in EuroNCAP 5 star rating) and reliable, I'm totally unconvinced that a £500 to £1500 banger would be anyway as safe or relaible.

I know we all have to make choices as to what our priorities are, but if possible I want to make my car as safe as possible for family, friends and myself.

cyclonebri1

To the OP, don't be offended by the advice given as to whether or not you can afford the car. It is the standard reply to any post of this type, because this a after all a motoring section of a moneysaving forum. :money:
The replies are not imtended to be patronising or condecending as has been suggested in other posts, but merely to advise that there are other ways of owning a car.

Anyway you have the answer you wanted, and some you didn't ;)