Should i finance a new car?

Fox998

I am having to change my diesel car as I no longer do the miles for a petrol engine now that I have changed jobs and only do a few miles per day.


My problem is that I can use my savings to pay for a car and this will still leave me an emergency found or use some sort of finance my garage has suggested PCP. Available with a £1,000 deposit contribution on stock vehicles, Monthly payments of £129, 4.9% APR representative when purchased on a Solutions Personal Contract Plan, Plus, up to 3 years servicing for £99'


I generally go for a pre-registered nearly new car and the PCP would be on a new car. I would probably be looking at a new car at the end of the contract term.


I have looked at the website and I am more confused, should I blow the money or finance my next car? if so what sort of finance should I consider?


Thanks in advance.

andrewf75

Why do you have to change your car just because its a diesel? The margins are not that great and any possible savings made by having a petrol rather than a diesel would be more than wiped out by buying a new car at all let alone buying on finance!

BeenThroughItAll

andrewf75 wrote: »

Why do you have to change your car just because its a diesel? The margins are not that great and any possible savings made by having a petrol rather than a diesel would be more than wiped out by buying a new car at all let alone buying on finance!

Maybe they don't want to end up with expensive problems to resolve caused by using a diesel vehicle for an inappropriate driving profile.

Herzlos

But diesels tend to be more expensive than a petrol equivalent, so it should be possible to trade into an equivalent petrol for some minimal outlay. The OP is looking at PCP on a new petrol which might be regarded as overkill. It could be the diesel is reaching end of life anyway though.

motorguy

BeenThroughItAll wrote: »

Maybe they don't want to end up with expensive problems to resolve caused by using a diesel vehicle for an inappropriate driving profile.

Depends on the car.

It will cost the O/P ££££s to change too.

motorguy

Fox998 wrote: »

I am having to change my diesel car as I no longer do the miles for a petrol engine now that I have changed jobs and only do a few miles per day.


My problem is that I can use my savings to pay for a car and this will still leave me an emergency found or use some sort of finance my garage has suggested PCP. Available with a £1,000 deposit contribution on stock vehicles, Monthly payments of £129, 4.9% APR representative when purchased on a Solutions Personal Contract Plan, Plus, up to 3 years servicing for £99'


I generally go for a pre-registered nearly new car and the PCP would be on a new car. I would probably be looking at a new car at the end of the contract term.


I have looked at the website and I am more confused, should I blow the money or finance my next car? if so what sort of finance should I consider?


Thanks in advance.

If you're doing ultra low miles why buy a new car at all?

I was in a similar boat to you - went from doing 25,000 miles a year to 80 miles a week.

Took the opportunity to sell the 2012 Golf i was driving and replaced it with a 2005 Jag. Very comfy, does everything i need and was bought with cash so no monthly outlay, and very little depreciation left.

jimjames

motorguy wrote: »

Depends on the car.

It will cost the O/P ££££s to change too.

Would be useful for the OP to explain.

Otherwise it just seems like an excuse to justify getting a new car - the dealer certainly won't suggest it is a bad idea when they want to sell.

motorguy

jimjames wrote: »

Would be useful for the OP to explain.

Otherwise it just seems like an excuse to justify getting a new car - the dealer certainly won't suggest it is a bad idea when they want to sell.

Totally agree.

The dealer will make ££££'s off the trade in when its resold, and ££££'s out of the sale of the new car.

Then no matter what you're paying depreciation on a new car (even if it is through PCP payments) but not doing enough miles to warrant it.

BeenThroughItAll

motorguy wrote: »

Depends on the car.

It will cost the O/P ££££s to change too.

Yes, obviously. I wasn't saying otherwise, merely providing one possible explanation for their stated intent to the previous poster to mine, querying why they wanted to change.

gilbert_and_sullivan

Sounds like justifying a new car, which is no problem if you want one, but spending money to save it seldom works out the most economical route.

Not all Diesels play up with short runs, depends what it is, but they all require more frequent oil changes with harsh use, which short journeys qualifies as.

Fox998

Thanks for the replies the reason I am having to sell my car is that the Diesel Particulate Filter keeps blocking and end having to drive 30 minutes at least once a month to clear it.

The other reason where I live the public transport is non existent and have to rely on a car and having business insurance I sometimes have to drive to customer and supplier sites hence why I am after a newish reliable car. Finance or to pay from my savings that is the problem.