buying a new car

russ_p

can anyone suggest the best way of getting into a new car, buy lease rent etc etc....

mbamick

russ_p wrote:

can anyone suggest the best way of getting into a new car, buy lease rent etc etc....

.......try opening the door.
Sorry, Russ, I just couldn't resist it mate!

Seriously though, I suppose it depends on your personal circumstances, and how you look at cars. I have a guaranteed monthly income [pension] which would allow me to take a lease / HP arrangement; but I see my car as a piece of tin that gets me from A-to-B, and rusts out on the driveway in between. I tend to pay about £5k for a 2-3 year old car, then run it for about 5-7 years. Then repeat the process.

I have a friend who leases a car for herself and her husband. They pay £300-£500 per month for each car, but then only have to pay for fuel [mot, serving, road tax, insurance, breakdown service, etc are all included]. They can upgrade every 2 years, and they like that approach.

When you sit down and do the sums, I really don't think that there is much in it. They have a steady, monthly payment stream; I have a big upfront payout, and occasional peaks to cover servicing, insurance, etc.

vansboy

Best place for motor info is https://www.honestjohn.co.uk

They're a friendly bunch, there - just like us lot!!

You can post in 'The Backroom' - 'Discussion' get loads of feedback.

Check for This Weeks Best Deals (usually in a link on the right hand side of site) - offers available from lots sources, about special promotions n stuff.

Also a section called Car by Car Breakdown - lists all all models in UK & whats good/bad with them.

As for your purchase....
Cash (or loan you've set up) - in theory cheapest way, but don't miss out on GENUINE dealer offers with low/0% interest deals - these are sometimes backed by the car maker & over & above what the garage can do for you - worth looking into.

Better still is on a cashback credit card - if the dealer will do it WITHOUT charging you for the benefit of doing so - then switch balance to a low/free rate card. Can be daunting - but done!!Added consumer rights, if you've paid more than £100 (just deposit even) on the card, too.So do this, at least, anyway - the garage shouldn't charge more just for this part of the transaction.

HP - dearest way - depending on the rates, but added consumer rights, if the car goes wrong on you - 'cos, tecnhically it's still the finance peoples property (& problem) till you make final payment.You'll get stuffed with a hefty penalty, sometimes, if you pay back early - check the restrictions.

Lease - usually only works well for business users - it even gets confusing there, too. This is due to the way you are taxed, upon using it for private mileage & benefit in kind, as the tax people call it.

PCP - Personal Contract Plans - the way the car makers will have all new cars sold, if they get their way - & they will!! It ensures their production volumes & keeps a steady flow of reasonably maintained used vehicles in their system.

After deposit - maybe 3months of an agreed amount per month, covering all running costs, except fuel, on the most comprehensive pacages. Then after 3 years, or whatever you select, the car goes back, with a GFV - Guaranteed Future Value. As long as you've not trashed it, gone over the mileage you set out to do, you'll get a higher amount than this figure, so you can have a deposit to start all over.

Souds good & if you never want to actually own the vehicle, are happy with a fairly fixed budget, it's an OK operation.


Don't buy on line - do your homework & find the BEST price for the make & model YOU want & get the local dealer & also the one in the next nearest town to do their best, to match / beat the package you can get on www.

If you can be flexible over model/trim/colour, you'll get better offers from a stock vehicle, rather than one thats not avialable yet, or not even built!!But DON'T buy something you don't like - make sure you're happy with a purple car with yallow trim, or whatever & think of saleability in the future.

Must haves on most cars now is metalic paint & air conditioning.

So let us know what you'r interested in & you'll get more feedback!!

VB

amsurfer

Mitsubishi Shogun 3 Door SWB 3.2Di-D Equippe £199.99 pcm

Copy and Paste (Mitsubishi Shogun 3 Door SWB 3.2Di-D Equippe £199.99 pcm) in to Google when you get the results you can take Advantage of a £25,000 Vehicle for £199.99 Per Month plus Vat on Contract Hire add Vat for Personal user i.e not Business.. It's a great deal...!! Cars due in for October Delivery

P.S over 300 Deals on all sorts of cars check it out!! (Copy and Paste and you'll find the Link!!)

amsurfer

Fiat Panda 1.1 Active 5 Door Only £94.99 pcm

Copy and Paste (Fiat Panda 1.1 Active 5 Door Only £94.99 pcm) in to Google when you get the results you can take Advantage of a Realy Cheap Vehicle for £94.99 Per Month plus Vat on Contract Hire add Vat for Personal user i.e not Business.. It's a great deal...!! Cars due in for October Delivery

P.S over 300 Deals on all sorts of cars check it out!! (Copy and Paste and you'll find the Link!!)

gizmoleeds

amsurfer wrote:

Mitsubishi Shogun 3 Door SWB 3.2Di-D Equippe £199.99 pcm

Copy and Paste (Mitsubishi Shogun 3 Door SWB 3.2Di-D Equippe £199.99 pcm) in to Google when you get the results you can take Advantage of a £25,000 Vehicle for £199.99 Per Month plus Vat on Contract Hire add Vat for Personal user i.e not Business.. It's a great deal...!! Cars due in for October Delivery

P.S over 300 Deals on all sorts of cars check it out!! (Copy and Paste and you'll find the Link!!)

Yes - there are some amazing deals on Shogun leases at the moment - not sure why.

Leasing I find works out about the same as the cost of depreciation and servicing once you factor in the interest on any sort of loans you may have. The first payment on a lease will usually be three times a normal payment (you will see things like 3x11, 3x17, 3x23 on leasing quotes, they mean 12, 18 and 24 month contracts respectively).

If you're gonna buy a car check out the What Car target price (this is the lowest price dealers are known to be selling the car for) on the what car website and make sure your dealer beats it.

Han_naH

Put simply, with a lease or contract hire you are driving a new car away without paying for it. Instead you pay 3 x monthly payments up front and drive off.

You then give them the depreciation on the vehicle (plus a small extra for their risk) each month. You would have lost this amount anyway if you owned it.

The capital you would have used to buy the vehicle remains in the bank earning interest. On a £20K car this is substantial.

The depreciation risk is carried by them, and a recession / too many second hand cars etc etc cause havoc with residuals. But that is their problem.

Lee.