Which cat should I buy?

Kathy535

Hello, I hope you can help. I've been looking for a new (to me) car on a pcp. I have two to choose from and I can't make up my mind. Both are over 36 months.

Car 1: black Ford Fiesta Zetec 1.0 ecoboost. 66 plate, 10,700 miles on the clock, works out at £97 pcm with £2500 deposit plus pt ex of £1000. Car cost of £9,700. Final payment of £4,700. I liked this, it felt solid, had more acceleration than I'm used to and was a comfortable drive. Tax will be £0 from April. But, it felt like the console/fascia intruded a long way into the car and there wasn't much space for passengers (not that I have passengers very often). Visibility was also less good than my current car (a punto).

Car 2: red VW Polo 1.2 Match bluemotion. 17 plate with 4,700 miles. Monthly payment is 125 pcm with £2250 plus £500 pt.ex. Car cost of £11,855 and a final payment of £6,120. Loads of acceleration, it handled well and there seemed more room. I felt comfortable in it and it was fun to drive. It also had parking sensors (which the fiesta doesn't) and a bigger boot. But, the seats were hard and I imagine on long journeys it would become a bit wearing - although most of my driving is short journeys. Plus tax is £140 per year.

Typing this has actually been helpful in working out the pros and cons and it feels as though the fiesta is the sensible solution but that I will always regret not having the polo. The mileage is worrying me (although, if I'm only keeping it for 3 yrs then it shouldn't) and I'm also aware the fiesta is wider and I may struggle to open the doors on my narrow drive without bashing the hedge (and scratching the doors)

Any views?

Mercdriver

A tabby I think. Black cats are sometimes seen as unlucky. Tortoise shells can be very pretty.

wgl2014

Ignoring the cat/ car thing.......

What is worrying you about the mileage? Both cars are pretty new and low miles, modern cars should easily do 100k with few issues if serviced to requirements.

I'd go with whichever car you like more, if you are looking at things from a purely financial sense then save your money and keep your current car or buy one that's older and cheaper.

IamNotAllowedToUseMyName

I've never liked the long drooping bonnet experience of the Fiesta - I found it difficult to judge where the front is - just seems too much in front of the steering wheel.

Polo - daughter has a recent one, my dad had a MkII (the hearse!) and although the seats are perhaps firm, they are well shaped so are good on a long journey.

Aside from PCP, you should really look at the cost of a loan. That "final payment" is very much optional, but it does mean:

a) if you want the car you have to be able to fund it (assuming it has a good valuation at the point of exchange).
b) If you don't pay for it, you've got nothing at that point and need to start again.

Looking at costs, the price of a 1.2 Polo is around £13,000 new 1.2 TSI Match based on a quick look on WhatCar so my first reaction is that you are paying a lot for a second hand PCP deal (you are in principle paying £18k for a second hand car worth about £13k new). Check out online brokers for a similar car new, some will quote without giving you grief if you don't go through and then the dealer will often match the deal. On a nearly new car you may find that the finance options make the new car more attractive with manufacturer incentive rates.

If the car is really worth about £12K at dealer prices, look at your £2.5k deposit, and a loan for £9.5k over 3 years. APR 2.9% from Sainsbury's, £275/month and the car is entirely yours at the end of it. Cost of loan is about £425 over 3 years.

So although the PCP monthly payment is attractive, it represents extremely poor value for money. If you think about saving up that remaining £6k to buy the PCP deal, then there is the other part of the loan monthly payments. Those monthly payments look so attractive and affordable but you really are paying a lot for that small monthly payment.

Nick_C

I would suggest a Jaguar.

Or if you want something older and more docile then a Ford Cougar.

worried_jim

Nick_C wrote: »

I would suggest a Jaguar.

Or if you want something older and more docile then a Ford Cougar.

Pumas looked good back in the day.

Always fill up at Esso, can’t beat a tiger in your tank.

Mercdriver

Joking aside, I would think very carefully before buying a used car on PCP. There are generally better deals on new, especially if you go through a broker like drive the deal or carwow...

System

Car 1 actually isn't £97 a month, it is £194.22 a month over 36 months when you factor in the deposit and PX. So you'll be paying £194.22 a month for 3 years to own absolutely nothing at the end of it.

Car 2 isn't £125 a month but is £201.39 a month over 36 months factoring in the deposit and PX and again to be paid for 3 years and own absolutely nothing at the end of it.

If you got a bank loan for either car 1 or car 2, you could sell your existing car, pay out the same as you would be on the PCP every month but for 48 months, own the car outright, have something to show at the end of it and not be worried about any bills for damage or excess mileage.

However as explained in post 4, you're paying over their market value for them so you'd be able to find one not on PCP for less money. A quick look on Ebay shows a plethora of 66 plate 1.0 Ecoboost Zetec Fiestas with lower mileage up to £2000 less than the one you've found. In regards to the Polo there's that model but on a 16 plate with 15,000 miles on for £4000 less than the one you've found.

Buy either of those instead and you could get a loan, pay the same as your PCP for 36 months and at the end of it still have a car to show for all that money you've paid out.

daveyjp

Tarambor wrote: »

Car 1 actually isn't £97 a month, it is £194.22 a month over 36 months when you factor in the deposit and PX. So you'll be paying £194.22 a month for 3 years to own absolutely nothing at the end of it.

Car 2 isn't £125 a month but is £201.39 a month over 36 months factoring in the deposit and PX and again to be paid for 3 years and own absolutely nothing at the end of it.

If you got a bank loan for either car 1 or car 2, you could sell your existing car, pay out the same as you would be on the PCP every month but for 48 months, own the car outright, have something to show at the end of it and not be worried about any bills for damage or excess mileage.

Exactly this. A PCP is not MSE advice.

BTW go for a Yaris instead. 5 year warranty for a start.

ratrace

also the 1.0 eco boost engines and not that relaible (google it)

Kathy535

Just seen the cat thing! D'oh. Wouldn't want to change either of the current cats for a newer model (although one that is a bit quieter would be nice).

Thanks for all your advice. Lots more to think about.