Buying a Car - How Do You Do Yours?

walwyn1978

bigjl wrote: »

Kia's have a 7 Year Warranty. Hyundai has a 5 Year Warranty, Toyota also have a 5 Year Warranty.

Those are the only ones that I off the top of my head don't charge extra for a Warranty longer than the standard 3 Years.

Some Renaults (Captur being one I think) have a 4 year warranty, I'm sure I read somewhere.

EssexExile

Buying a Car - How Do You Do Yours? I go into the dealer, we argue for a bit, I give him some money & he gives me a car. About 10 years later we do it all over again.

pelirocco

We went looking for a new car on Sunday , went into a Peugot dealer and everyone one of the cars in the showroom had a display beside it , not giving the spec of the car as I would expect but giving details of PCP finance .In the style of look how cheap it is to have a new car , if you ignored the balloon payment , and allowed mileage of only 8000 per year , and i swear it said 8p per mile after that.
We were cash buyers , bought a Toyota ( 5 year warranty ) but they still tried to sell us their 'cheap' finance . We then bought a used car from a dealer , again cash and again they were pushing their finance > I assume they make their money through finance and not the cars these days

Ebe_Scrooge

pelirocco wrote: »

> I assume they make their money through finance and not the cars these days

Yes, they make a fair amount of commission on selling finance. Which is why the old matra of "go in with cash and you'll get a better deal" is not strictly true any more. You have to be VERY careful and do the sums - how much will it cost overall ? Quite often you'll get a better price on the car if you agree to take their finance. Does the cost of the finance outweigh the saving on the purchase price ? Sometimes yes, sometimes no. There are stories around of folk agreeing to a finance deal in exchange for a reduced purchase price, then cancelling the finance within the 14 days cooling-off period, and settling with the seller via savings or a cheaper personal loan from the bank :-)

takman

Considering this is a Money Saving Forum then the best option is to buy an older second hand car for a good price!.

My car is a 2003 Vectra which I have owned for almost 4 years and have done 63,000 miles in it.
Taking into account of current fuel prices, the £1500 purchase price, all repairs, servicing and MOT's. It has cost me just over 15p a mile to run!.

That's less than just the depreciation on any new car!. It has Leather Seats, Cruise Control, Sat Nav, Reversing Camera etc. Why would anyone want to pay so much for a new car?.

Ectophile

When I buy a car, I just buy it. That way I have an asset, albeit a depreciating one.

If you buy on credit, you end up paying far more than the car's worth, and you're locked into a long contract even if your personal circumstances change.

As for leasing, why pay every month for a car that will never be yours?

londonTiger

so much talk of warranty, are cars really that bad that they have serious mechanical failures after 5 years of manufacture?

londonTiger

takman wrote: »

Considering this is a Money Saving Forum then the best option is to buy an older second hand car for a good price!.

My car is a 2003 Vectra which I have owned for almost 4 years and have done 63,000 miles in it.
Taking into account of current fuel prices, the £1500 purchase price, all repairs, servicing and MOT's. It has cost me just over 15p a mile to run!.

That's less than just the depreciation on any new car!. It has Leather Seats, Cruise Control, Sat Nav, Reversing Camera etc. Why would anyone want to pay so much for a new car?.

I have my own business and work from home, so I don't feel the pressure of needing to wear expensive clothes or drive an expensive car. I think a big part of why people buy cars on finance is they want to be seen doing well in their jobs and a year old car is a way of showing everyone hey I'm doing well.

If you drive into one of these big multinational company HQ car parks in Tadworth you'll find everyone has a up to date car, even the recent graduates who left uni with their vuaxhall corsa on PCP (if they're not lucky enough to have a company car)

anotheruser

Ectophile wrote: »

As for leasing, why pay every month for a car that will never be yours?

You say that, and I would agree with you normally but if you pay out £15,000 on a new car, have it for five years, that's £3000 a year. Plus servicing at £60 a year, plus any costs with parts, let's say £600 a year. Add that all together and it's £6,300 for the five years, or £105 a month. That's being generous though.

A lease would be for less than 5 years, and perhaps around £200 a month. But as someone else said, having a fixed monthly payment knowing you won't have to pay any more or less is an attractive option.



It's all come about as I think we have a bad car in the family.

A fiesta diesel. Every 4/5 months it's having ~£300 odd spent on it. Sometimes more, sometimes less but it just seems like it's always in the garage for something.

This time around it's a dodgy ERG valve, plus cambelt and water pump (which I am sure I had replaced around a year ago!).
Not to mention it needs a new gearbox (that was my doing though) and power steering unit.

I know I could get a newer car and it could end up the same way, which is why I looked at PCP. However in the next few months I'll be applying for a mortgage so I don't want anything to go against that.

Trouble is, I can't really afford much money at the mo.
We have both cars, which if I could get £5000 for both, I could afford the £3000 on top for two other cars (we'd prefer a diesel as a replacement for the Focus).

Just seems a waste to get the Fiesta to a suitable standard, to just sell off.

Oldbiggles

If you are set on 'owning' the vehicle after purchase. First negotiate the cheapest price with as many add-on's as you can get(like free insurance for a year), when you have the best price on offer ask for an interest free loan to pay off the balance after the deposit. Most dealers offer this if you ask for it. Its always worked for me.