I am just about to buy a new Mini

benjilloyd

Can anyone help me work out the best way to pay for a new Mini Cooper S convertible and how new compares to buying second hand?

Dealers PCP?
Personal Loan?
Leasing?

I'm trying to figure out the bottom line cost so I can make a valued decision.

A car is going to cost me money so I have been trying to put together a spreadsheet to work out what each option will cost when taking into account all the different variables, interest, depreciation, deposit etc.

Cheers,
Ben.

ixwood

If you need to borrow money, you shouldn't be IMO. Certainly not that much.

Save a grand or 2 and get yourself a nice 5 year old car, that some other mug has lost 12k on.

Why is borrowed money so much easy to spend than earned money? I bet i you saved 15k over 2 or 3 years, you'd value it a lot more.

Frugal_Fox

Whilst I can't answer your question OP, I just wanted to reply and remind other MSE that MSE isn't about not spending money - its about spending it wisely. If the OP can afford to purchase a car, then they are right to do so in the best financial way. Its a valid question - however, if I were you OP, I'd hot foot it over to the motoring board - they should be able to help you there.

FF

Nile

Hello benjilloyd

I'll move your thread to the 'Motoring & Public Transport' board.

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].

Regards

Nile

vansboy

You'll find the cleverest way, currently is PCP or lease, as MINI do seem to beat the guaranteed future values, come swap it in for a new one time.

Obviously this might not be the case, in a few years time, when there are even more MINIs on the road!

If you go to www.honestjohn.co.uk there is a section on the right side of his site, This Weeks Best Deals - it gives up to the minite GENUINE offers/prices on ALL makes, so you'll see if you can save a few £$£$ there!

Also post the same Q, in The Backroom - Discussion on his site, for helpful advice.

You might like to read through the posts there, to the one marked http://www.honestjohn.co.uk/forum/post/index.htm?f=2&t=55883
Before you buy!!

I'll not bore you with all the usual anti MINI comments, but will say have you priced up all the optional extras you need to personalise it?This is what a lot of owners forget about, when they boast about the strong value of their car, as they'll have spent sooooooooooo much money on it, above list price, but this won't make it worth much more, when you do want to sell it!!

Once you do that calculation, then you can go and buy anb Mx5, like Mrs Vansgirl did!!

VB