Can I get a personal contract purchase car with a high annual mileage?

worried_jim

Just buy a 3-4 year old car and run it into the ground- it will work out much cheaper.

Blue_mo

Funky_Bold_Ribena wrote: »

Why is moving out of the question? Lots of people live with their parents, and then move out when they can...it's called growing up.

Yes, fair enough!

I've seen a few places near my place of work. Decent graduate properties come at about £600pm (and that's without bills), which would probably make it £700pm-750pm.

The decision is purely economical. If I end up paying more than that for the car, petrol, insurance then moving out may become a viable option.

Blue_mo

Thanks for your input guys. I'll keep you informed on what happens!

Funky_Bold_Ribena

Blue_mo wrote: »

Yes, fair enough!

I've seen a few places near my place of work. Decent graduate properties come at about £600pm (and that's without bills), which would probably make it £700pm-750pm.

The decision is purely economical. If I end up paying more than that for the car, petrol, insurance then moving out may become a viable option.

What's a graduate property? I just lived in a shared house when I first left home...

[Deleted User]

What is a graduate property as apposed to any other flat/house for rent?

Find a cheap flat near work and a cheap runaround car and you're sorted.

Herzlos

Blue_mo wrote: »

Yes, fair enough!

I've seen a few places near my place of work. Decent graduate properties come at about £600pm (and that's without bills), which would probably make it £700pm-750pm.

The decision is purely economical. If I end up paying more than that for the car, petrol, insurance then moving out may become a viable option.

Assuming you can get a car that'll do 70mpg (unlikely) and fuel will only cost £1.30/litre, your 180 mile a day commute is going to cost you £303 in fuel a month. You'll also need to factor in 2-4 sets of tires a year, 2-3 services a year (including the time off work to do them) and things like brake pads and insurance premiums.

Considering your contract rate for 10k miles/year is probably going to be about £200/month, the contract rate for 40k miles/year will be at least double that. So you're already well over your £700/month rent, and spending 4 hours a day in a car.

If you want to stick with driving I'd be looking at 3 year old low spec repmobiles (diesel focus/astra/mondeo/vectra) that have lower miles and run them into the ground, because it's going to be worthless in a year or 2.

But as someone with a 100 mile round trip, I'd seriously reconsider findind somewhere closer, or looking at annual rail cards, because a 2 hour commute each way is going to get boring pretty quickly.

kkgree1

We've looked at PCP for a Fiesta recently as my husband is moving jobs. He'll be commuting 80 miles a day so 25k mileage a year.

We already have a newish Petrol Fiesta & have been very happy with it so wanted another one but Diesel this time due to the mileage. Most of the PCP contracts we looked at are up to 30k mileage max. We were quoted £220 pcm for a 3 year 25k mileage PCP contract. That is for the new 1.5 Fiesta TDCI.

In the end, we've decided to buy the Fiesta with cash savings. When you factor in depreciation and that you can't change the car within the PCP contract period, it's worth looking at cash savings/personal loan route instead.

In my personal experience, cars start costing more money at 60 - 80k mileage (cambelt!) so I'd ideally want to be changing the car before this.

geek1981

Better get a PCP with low mileage (low monthly) and then trade it in for another new car in 18-24 months time so you will have some equity and won't lose all its value. this way you don't have to worry about mileage penalty either unlike PCH.

Herzlos

geek1981 wrote: »

Better get a PCP with low mileage (low monthly) and then trade it in for another new car in 18-24 months time so you will have some equity and won't lose all its value. this way you don't have to worry about mileage penalty either unlike PCH.

How would that work? The car would still be worth a lot less and there would be pretty severe mileage penalties for putting an extra 60,000 miles on it (£6k in fees at 10p/mile).

Better would be to get an independent loan for a very low mileage car and sell it when the mileage gets to the high side of average for another low mileage car. Or to just buy one and run it until it starts becoming expensive to maintain (i.e. you start having to replace major components)

pulliptears

I'm following this with interest as we are currently looking for a solution to a similar problem....

OH's commute is approx 120/130 miles a day (round trip). Moving closer is most certainly NOT an option here for various personal reasons. (though he is job hunting locally still)

We thought of the 'buy a 3/4 year old car and run it into the ground' option ourselves, which is why we now have an 07 plate Astra 1.9 CDTi thats just cost nearly £3k in gearbox replacement. We now know (benefit of hindsight) that the next thing to go will be turbo, closely followed by swirl flaps, power steering pump and lastly the gearbox again which is only guaranteed for 12,000 miles - a figure we'll reach around september/october time.

We are also wondering where to go from here really. High mileage lease? Banger? Either way with the sale of our car we'd have about £5k to play with so I'm watching replies here with interest.