Best Way to Finance a £30-40k car?

Herzlos

With a £25k deposit, so should be able to get a pretty decent finance deal from whatever car dealership you want (with more than 50% deposit you'll get the best rates).

So I'd choose or shortlist a few cars, enquire about new costs with your deposit and the rest on finance, and also have a look at pre-registered and approved cars a couple of years old. You'll save a lot if you can get one that's 6/12/18 months old over new, if you can find one in the spec you want, and you'll be able to take ownership pretty quickly.

Tiptop2000

Thanks all, interestingly I am looking at a 2nd hand 4x4. To date its been Range Rovers, Range Rover Sports, Discos. Or estates, so 3 & 5 series diesel estates. They are all ranging (2nd hand) from £20-35k. The 4x4's are a lot more expensive to run (tax, tyres, diesel, etc) and the estates more economical. Its a touch one really as I love being high up in the 4x4s and with a dog, bikes, etc we can travel to my Mums in Cornwall (from Yorks) much easier. Spotted a 2007 plate RRover yesterday for £22k and it was really nice. Too many decisions to make! Thanks for all your comments

pelirocco

Iceweasel wrote: »

I am newly retired and will probably never buy another new car again - as a private individual.

Far too much depreciation in the early years, in the present economic climate here in the UK.

I've just bought a very well specced BMW under 2 years old done less than 20K miles - for less than half of the price when new.

I intend to keep it around 3 years and then buy another 2 year old.

If you're talking about your business buying the car then you need to speak to your accountants/auditors who will be able to determine the best option for your specific circumstances.

When I was in a similar situation to you, all assets/equipment, including vehicles were deemed written down to zero in 5 years - very tax effective.

Buying a car , especially a big one through the business will land him with a huge personal tax bill

ballyblack

Buying a car , especially a big one through the business will land him with a huge personal tax bill

and more expense paying the accountant ongoing (who advised in the first place)
:eek:

TradePro

Tiptop2000 wrote: »

Thanks all, interestingly I am looking at a 2nd hand 4x4. To date its been Range Rovers, Range Rover Sports, Discos. Or estates, so 3 & 5 series diesel estates. They are all ranging (2nd hand) from £20-35k. The 4x4's are a lot more expensive to run (tax, tyres, diesel, etc) and the estates more economical. Its a touch one really as I love being high up in the 4x4s and with a dog, bikes, etc we can travel to my Mums in Cornwall (from Yorks) much easier. Spotted a 2007 plate RRover yesterday for £22k and it was really nice. Too many decisions to make! Thanks for all your comments

I'm not a Daily Mail reader, don't worry, but take a look at this;

http://www.dailymail.co.uk/news/article-2179067/Land-Rover-revealed-UKs-reliable-car-71-cent-years-old-break-year.html

Why not try to curb your badge-buying tendencies, and look at something like this;

http://www.autoexpress.co.uk/hyundai/santa-fe

A great '4x4' with very low running costs and excellent reliability. There is also it's Kia Sorento 'sister car'.

The bad bits in that report are;

High list price - presumably you can get a discount, but high compared to what?? A £50k+ Disco?

Only one engine option - but it's chain cam and a great motor

Notchy gear change - an auto will fix that

alleycat`

Concur, get a Santa-fe or a Sorento if you must have a large 4x4.

Sure they aren't quite as plush but they've got big warranties and they will do everything else you want.

Stick and auto on it and relax.

OddballJamie

pelirocco wrote: »

Buying a car , especially a big one through the business will land him with a huge personal tax bill

Depends what you buy. I know someone who went from a 3 series cab to a Navara (top spec one) and his tax bill has dropped massively.

OP consider some of the 4 door 4x4 pickups bought through the company. They are counted as commercial vehicles in some cases and can be a huge saving. Some have all the toys, leather, satnav, reverse cameras, etc.

smashingyour...

Tiptop2000 wrote: »

Thanks all, interestingly I am looking at a 2nd hand 4x4. To date its been Range Rovers, Range Rover Sports, Discos. Or estates, so 3 & 5 series diesel estates. They are all ranging (2nd hand) from £20-35k. The 4x4's are a lot more expensive to run (tax, tyres, diesel, etc) and the estates more economical. Its a touch one really as I love being high up in the 4x4s and with a dog, bikes, etc we can travel to my Mums in Cornwall (from Yorks) much easier. Spotted a 2007 plate RRover yesterday for £22k and it was really nice. Too many decisions to make! Thanks for all your comments

Just think of the back when lifting an aging lab in and out of a 4x4.

colino

A limited Company couldn't possibly buy a car and have it as a pool car, garaged for security at an employees address, with that employee having a separate, privately owned cheap, runner who could, "occasionally" use the pool car could they?
You need a better accountant.

TradePro

OddballJamie wrote: »

OP consider some of the 4 door 4x4 pickups bought through the company. They are counted as commercial vehicles in some cases and can be a huge saving. Some have all the toys, leather, satnav, reverse cameras, etc.

And leaf springs...tough and all that, but drive like a commercial too in most cases.