Any ideas on getting a car on £600 budget per month?

curious_1

ACG wrote: »

Im just in the process of looking at PCPs and leases at the minute.
You can get a lot of nice cars for £200 or under each month.

https://www.lease4less.org.uk/search?mode=BCH&vt=car&minprice=150&maxprice=200 - Cars between £150-200 a month.

Ive been dealing with someone called Tony from there.

Thanks a million for this. Like that I can move around deposits amounts etc. Having a look too.

Cornucopia

curious_1 wrote: »

That would be idea. Less than £200, for a decent car. Just haven't seen much. Theres usually a trade off. cheap monthly, but expensive deposit.

I'm happy with manual, since I believe they are cheaper. Petrol too. heard laws on diesel could change (pollution etc). Body type, not fussed (coupe of hatchback) and at least 1.4 engine size. With decent electronics (sat nav) - electronics bit is probably wishful thinking. But hey.

Also, thanks a lot for the link. Having a look.

Sounds okay, except that 1.0 is the new 1.4...

There are lots of offers around at the moment including options with low deposit often where the deposit and the repayments are the same.

If you're looking at Lease prices, you need to add 20% VAT or swap to "personal" rates, unless you plan to lease through your own company.

curious_1

Cornucopia wrote: »

Sounds okay, except that 1.0 is the new 1.4...

There are lots of offers around at the moment including options with low deposit often where the deposit and the repayments are the same.

If you're looking at Lease prices, you need to add 20% VAT or swap to "personal" rates, unless you plan to lease through your own company.

Yh, been seeing a lot of 1.0 popping up when I put in my preference. E.g, asides from Dacia and MG I keep seeing, the only ford I was offered was a 1.0. I've always thought the 1.0 can feel under-powered on the motorway. The 1.4 I'm driving now really impresses me. Some old, Citreon C3.

But hey, I'm learning as I go.

System

curious_1 wrote: »

By march/April next year, I'll be on at least £2,169 per month.
Is a PCP ok then?

PCP IS NEVER OK

Here's what you do when you get a PCP deal. You're saying not only do I want to spend all of my money on a new car to drive across town, I want to spend WAY MORE than all of my money on a new car to drive across town and at the end of it I want to have nothing to show for all the money I've paid out.

You get near the end of your PCP deal. The car is 4 years old and because you've spent your spare money on the payments you don't have any money to pay the balloon payment or to buy another car. So your option is to either have no car or to get a loan for the balloon payment. But then the salesman then says you can hand back your car and get a new one on PCP. You decide to do this because why get a loan for the balloon payment on your 4 year old car when you can have a new one for the same monthly cost?

And bingo there you are, you've fallen into the PCP trap and are stuck in it for however many years to come.

Cornucopia

Here's the MSE article on PCPs.

https://www.moneysavingexpert.com/car-finance/personal-contract-purchase

By far the biggest problem with PCPs is those people who obtain one without understanding the principles.

jimjames

curious_1 wrote: »

Thanks guys.

No, I don't want to buy a new car. I just would like a decent car and I'm happy to pay monthly for it.

At my age of 31, I'm just hoping for something fairly nice.

Rather than worrying about a nice car, I'd be more concerned that at 31 I had no savings at all if you are needing a loan for the deposit.

All the comments previously about getting a cheap car make sense but I'd also recommend that you look at your spending and try to build up some savings in an emergency fund so this doesn't happen in future.

Manxman_in_exile

curious_1 wrote: »

Thank you very much for this.

This will be my first car, so I've never taken out an insurance on my name to know a range. The car I'm currently driving is not mine, but I've got insurance on it. I pay the owner of the car £60 to put me on the policy.

That said, I looked at some quotes in the past, with a number of cars (VW golf, BMW 1series etc). And got about £1000 a year from moneysupermarket etc.

With regards to the sort of driving I'll be doing. The occasional inter-city driving and motorway driving (mainly Bristol - London and vice versa). Annual mileage, maybe 10,000 miles. But that's just guess. I've noticed car vendors use that number as limits. But don't see myself going over it.

I know I just want a car, and won't mind something simple. At the same time though, if I'm being honest, a decent car will be nice. Something fairly modern.

You see people driving new cars, I always wonder how on earth they do it on their wages. Students etc.

Errr.... I'm no expert here, but is that a problem?


EDIT: Not for the OP perhaps, but for the policy holder?

Cornucopia

curious_1 wrote: »

Yh, been seeing a lot of 1.0 popping up when I put in my preference. E.g, asides from Dacia and MG I keep seeing, the only ford I was offered was a 1.0. I've always thought the 1.0 can feel under-powered on the motorway. The 1.4 I'm driving now really impresses me. Some old, Citreon C3.

But hey, I'm learning as I go.

I think the idea is that the smaller engines can produce as much power as larger ones did in the past.

I've not driven any smaller engine petrol vehicles recently, so I can't really comment on the actual results. All of my past 6 or 7 cars have had either the Peugeot-Citroen 1.6 Diesel engine or the Renault 1.5 Diesel. Those are both great engines, though.

[Deleted User]

Buy a 3 year old 1.0 litre small French car from a reputable dealer with an extended warranty that has no or low tax, 50 mpg and low insurance on a traditional finance deal, should be about 6 grand = about £170 a month and the car will be yours in 3 years to do as you please.
And you won't have to worry about scratches and dents that you would do on a pcp.

Herzlos

Look on autotrader for something 3-6 years old, petrol, 1-1.4l, cheapest first and go for the first o w that looks decent and isn't bad on insurance. I'd avoid anything premium or german, and not worry too much about tax or mpg.