Options on purchasing new car

motorguy

[quote=[Deleted User];66037502]Simple, get the best non-secured loan you can for the rest of the cash you need.


But if you really want to drive a new car every three years I reckon leasing is a better option, cheaper than typical loan repayments if buying, and far less worry.[/QUOTE]

The O/P has already said they dont plan on changing the car for a few years, but yes, if you plan on buying new and driving for 2 or 3 years, then a lease or a PCP deal is likely to work out cheaper.

motorguy

forgotmyname wrote: »

Best option, Save more until you have enough money to pay cash?

Save on the interest for a start.

And that might take 5 years to do?

With interest rates so low, as has already been said, find the cheapest loan you can.

Also, negotiate HARD on the purchase price, and look at internet brokers for pricing too.

motorguy

iBeast wrote: »

Hey guys,
Ill soon be looking to buy a car, it'll be selling at around £26000 ill have around 7-9 thousand saved up and wondering what different options i have in purchasing it.
Ill be looking to keep the car for a while and wont be trading it in after a few years.
Thanks in advance:)

And now back to the point in hand...

If you want to "own" the car and plan on keeping it for many years, then a loan of some form for the balance is going to be best.

A PCP deal will leave you with a large balance to pay at the end to keep the car, and with a lease deal, you wont own it, you just rent it for a fixed term

Whats the car in question? Have you looked at how to get it at the best price possible? Might nearly new or a year old save you ££,£££s?

That would be my starting point - financing it should be relatively easy to sort out once you've source the right car at the right price.

jaydeeuk1

I'd be looking at lease or pcp. Been some cracking deals lately on cars like a jag xf, audi a6/8, bmw 530d. Don't see the point in 'owning' a car, if its cheaper not to.