Should I take this job?

makeyourdaddyproud

Lmh71365 wrote: »

No because 40% off a new one and deposit paid = cheaper than a used one?

But is it really? Isn't there a big depreciation in the first year even for German cars?

What I am saying is, if the average price of a 2-year old one only variates a few percent for each extra year of age, then the £500/month now becomes much more unattractive. Just an idea.

If the new car depreciates to a level to within the average used price quickly, then the 40% is just a sales tactic.

Otherwise, used sellers would not shift ANY cars - UP AND DOWN THE COUNTRY.

It would seem that this is a sales tactic that isn't explored enough.

Lmh71365

makeyourdaddyproud wrote: »

But is it really? Isn't there a big depreciation in the first year even for German cars?

What I am saying is, if the average price of a 2-year old one only variates a few percent for each extra year of age, then the £500/month now becomes much more unattractive. Just an idea.

If the new car depreciates to a level to within the average used price quickly, then the 40% is just a sales tactic.

Otherwise, used sellers would not shift ANY cars - UP AND DOWN THE COUNTRY.

It would seem that this is a sales tactic that isn't explored enough.

Well I was paying £400 a month for my 2-year old £26000 SLK. So that doesn't really seem cheaper? And that's still on a lease deal.

Hire purchase over 60 months works out about £200 for every £10,000. So that gives me £15,000 to buy a 2 year old Mercedes for £300 a month?
PCP wouldn't be cheaper because residual values are lower on used cars, I wouldn't get the 40% off or free servicing. Obviously I would get it at cost but I still don't think it would be any better.

And I'm not even sure if by "2 years old" he means at the start or at the end, so it might be a no-no anyway.


The £300 a month lease deal means I'll be paying £12,000 over the 2 years, which on a £30,000 car would be exactly in line with the predicted depreciation. Bear in mind this includes interest. So buying a car on this lease scheme means I will lose exactly as much money as I would if I had bought the car cash and then sold it at the end of the two years, except I can keep my theoretical money in my bank account and earn theoretical interest on it. So, that's a damn good deal to me?

Lmh71365

Anyway, let's assume I have to or choose to take the car... Should I take the job or keep searching?

(Mercedes has always been my dream job, so I haven't been looking elsewhere, I had my heart set on it and that was that! But I (naively) didn't realise I would be paying an arm & a leg for my car (compared to £180 for my Hyundai including insurance)).

pickledonionspaceraider

I would only take their job if I could opt out of this car scheme.

1886

£300 a month for an A Class, I can get one for £185. Opt out if possible as there's much cheaper motoring out there

Lmh71365

1886 wrote: »

£300 a month for an A Class, I can get one for £185. Opt out if possible as there's much cheaper motoring out there

How can you get one for £185?

I am happy to opt out if I'm still in a Merc. I can hardly rock up at a customers house in a £500 banger or my BMW can I? That's going to look awful!