Advice please - New or used?

chrismoll

Yeah, black or white. The question is will i spend more than £400 cleaning it because it looks more dirty then?! lol

Thanks Kilty, you have been a massive help.

bigjl

Kilty wrote: »

Is £7995 including any finance deposit contribution?

If not, you might be able to get it for even less on Kia Access PCP then use the large deposit you have to pay the final payment at the end instead.

New Rio is due soon, hence deals on the current model.

Old Rio only sold in big numbers because of retired people and scrappage allowances.

The new Rio is better in every way, wait for that if you want togo new, the entry level diesel will be around £10k and has nigh on 90mpg fuel economy, free road tax, free London Congestion Charge and actually looks very nice.

I don't think you should be recommending a Kia PCP Kilty, when you consider the way you are trying to get round the mileage restrictions on yours.

With £3500 you can get a decent MK5 Astra or any number of decent Focus'.

However the new Rio has a long warranty and if yougo for the new 3 cylinder diesel you will get good fuel economy aswell, in 6 years you will have saved over £1000 in roadtax compared to a used Focus or Astra though.

I wouldn't recommend a PCP, put down a deposit, get the rest on reasonable rate HP, after 3 or 4 years the car is yours, do as many miles as you want, after the term the car is yours, and you will still have several years of a proper warranty left to run, so if you want to sell it privately you have the advantage of the buyer knowing the car is a good-un.

Remember this is MSE, not Lowest Monthly Payment Forum, but then a lump sum at the end or no car, or buy another new car, PCP's are simply a vehicle to make you buy new cars by fooling you into thinking you can afford it, and you will also end up buying new car after new car, the dealer wants to get you back in the dealership to try and sell you another car, simples.

Been there, done that, bad idea.

A bit like Part Rent/Part Buy, looks like a good idea, but when you look closely there are just too many clauses to catch you out.


In your position OP, I would be tempted to buy a used Astra, 3 yrs old at the Auction, lots of ex Motability getting sold at the moment. Won't be far off your budget.

Kilty_2

Since OP suggested putting down a large deposit, I assumed they have every intention of paying off the loan, so a mileage restriction would not apply.

chrismoll

hmmm, now said that the £7,995 price was with a £1000 PCP reduction, which I really don't want to get into so maybe it will be second hand after all!

Unless anyone can think of any other deals or 0% finance offers

rodenal

Another option for you could be to look at the cheapest personal lease or pcp car you can find over a two year period - these tend to come in at around £150 per month for focus or just smaller korean cars with 3-6 months down.

I don't know what mileage you need but if a typical 10k mile deal would suit then over two years you would be looking at about £3900 plus insurance. Keep your cash in the bank just now other than the initial rental and it wont feel like you're making any additional payments, means you can save up for deposit on next vehicle (or to buy outright if you wanted).

Could that be an option for you?

chrismoll

Thanks for the suggestion rodenal. I think my worry is that the car is still tied to the firm with PCP or personal hire e.g. have to stay within the mileage set etc where as if I put down a deposit and then just have to pay off the finance, it gives me more freedom from the car firm really.

Hope that makes sense! It almost did when i was reading it!

Kilty_2

chrismoll wrote: »

Thanks for the suggestion rodenal. I think my worry is that the car is still tied to the firm with PCP or personal hire e.g. have to stay within the mileage set etc where as if I put down a deposit and then just have to pay off the finance, it gives me more freedom from the car firm really.

Hope that makes sense! It almost did when i was reading it!

The mileage restriction with PCP only comes into play if you don't pay the final payment - you can do 50,000 miles a year with a 8,000 mile restriction and as long as you pay the final payment there is no penalty.

jase1

You might want to pay your local Mitsubishi dealer a visit. Last time I went past mine they were selling brand-new Colts for 6995. I'd place Mitsi above Hyundai/Kia for reliability and you save £1000. Better drive, residuals and interior as well.

dazzadub

pompeyfaith wrote: »

Better deals here and way better than a kia

http://www.richmondhyundai.co.uk/latead.html

made be each other, have you not noticed, they all same car with different badge.

Kilty_2

dazzadub wrote: »

they all same car with different badge.

Not quite but there's certainly a lot of sharing since Hyundai is the parent company of Kia.