wazzap24 Posted March 25, 2016 Share Posted March 25, 2016 On 18 March 2016 at 14:01, tonyh29 said: 12 mths is the rumour ... the review compared it a bmw M2 and said you could probably run 2 of them for the price of fuel you will put in the Mustang also if you are planning to lease it , don't they usually work based on 10,000 miles per annum ..if you are running 20k , I think you will get crucified cost wise Leasing works on 5k to 50k per annum depending on the company and you don't get crucified cost wise at all. You pay more for more miles obviously, but if you own it it will depreciate quicker the more miles you put on it anyway. Link to comment Share on other sites More sharing options...
darrenm Posted March 25, 2016 Share Posted March 25, 2016 For the love of all things, please check the small print!! I work in the industry and the amount of people who get tucked up with a '0% finance deal' or PCP contract is unreal. Closely followed by 'I got xxxx off a 6 month old blah blah' - trust me, the dealer saw you coming. And don't buy one either. Owning a car is risky at best, downright stupid at worst (unless it's a classic car investment, you intend to rally it or deliberately drive it off a cliff). If you like new cars, only keep them for 2-4 years at a time and want the easiest (and more often than not, the cheapest) way of doing it, then the only answer is Contract Hire. I've got a 0% interest PCP deal. Seemed very good to me. What's wrong with it? Link to comment Share on other sites More sharing options...
Straggler Posted March 25, 2016 Share Posted March 25, 2016 2 hours ago, wazzap24 said: For the love of all things, please check the small print!! I work in the industry and the amount of people who get tucked up with a '0% finance deal' or PCP contract is unreal. Closely followed by 'I got xxxx off a 6 month old blah blah' - trust me, the dealer saw you coming. And don't buy one either. Owning a car is risky at best, downright stupid at worst (unless it's a classic car investment, you intend to rally it or deliberately drive it off a cliff). If you like new cars, only keep them for 2-4 years at a time and want the easiest (and more often than not, the cheapest) way of doing it, then the only answer is Contract Hire. Always happy to take advice. The deal I am looking at is here http://www.ridgeway.co.uk/jaguar/new-cars/jaguarxe/ It went up a little at the weekend to £570 deposit, bu other than that it is the same. Link to comment Share on other sites More sharing options...
Xela Posted March 25, 2016 Share Posted March 25, 2016 Isn't PCP and contract hire a broadly similar product, except you don't have the option to buy the vehicle on contract hire? I'd imagine 99% of people on PCP hand the car back rather than pay the balloon anyway? I'm just curious as to why contract hire is better? Link to comment Share on other sites More sharing options...
wazzap24 Posted March 25, 2016 Share Posted March 25, 2016 1 hour ago, Straggler said: Always happy to take advice. The deal I am looking at is here http://www.ridgeway.co.uk/jaguar/new-cars/jaguarxe/ It went up a little at the weekend to £570 deposit, bu other than that it is the same. Ok, unless I am reading it totally wrong, the deal you are looking at is this: £8,390 deposit £570 initial finance payment in month one £299.02 for 35 subsequent months (£10,465.70 total) Then the optional final payment of £13,918 Total payable inc £10 purchase fee = £33,353.70 It's not just £570 down, it's £8,390 + £570. If you decide to hand it back after 3 years, you keep to the T's and C's (10k per annum) and its in good return condition (open to interpretation), then it will have cost £19,425.70 to effectively 'lease it' for 3 years. Plus servicing/tyres, plus road tax. These are not a great car for contract hire offers, but just a quick Google and I came across few deals on the R-sport Auto, which is a slightly better model I think. £2,225 initial payment 35 x £371 It costs £15,210 to do the same thing the PCP deal does. It costs £4,215.70 less to do the same thing in a better car The issue with PCP in general is they are often front and rear loaded, so yeah the monthly payments can look pretty sweet, but they are not often low deposit. They are not hire agreements, they don't really want you to hand them back and if you do, they want you to trade in with them so you roll into another one. Im not saying there aren't some reasonable deals out there. The car finance industry is a bit of a 'on any given day' gig at the nest of times, but generally PCH will beat PCP 9/10 out of ten if you just want to run it for 3 years and hand it back. There's other reasons too, but I'm tired and your probably bored. Link to comment Share on other sites More sharing options...
wazzap24 Posted March 25, 2016 Share Posted March 25, 2016 3 hours ago, darrenm said: I've got a 0% interest PCP deal. Seemed very good to me. What's wrong with it? 2 hours ago, Xela said: Isn't PCP and contract hire a broadly similar product, except you don't have the option to buy the vehicle on contract hire? I'd imagine 99% of people on PCP hand the car back rather than pay the balloon anyway? I'm just curious as to why contract hire is better? There's nothing wrong Darren, it's just more often than not if your doing it to chop and change every few years, it works out a lot more than Personal Contract Hire. I don't know what you Drive, what you pay and over what term and conditions. You may well have a great deal, it's certainly not impossible. Xela there are quite a few differences, the main one being it is just a straight hire agreement. You tend to pay a multiplication of rentals as an initial payment (ranging from 1-12 months) then a payment per month for the remains terms (2-5 years typically). The deposits tend to be lower. Finance companies rather than dealerships tend to be the main players in leasing, so you often benefit from their discounts and therefore the rentals are lower than the monthly payments on a retail cost car. An example right now in the market would be BMW 1 series. If you look at the BMW finance in their website, a 118i M sport would cost you around £295 per month with around £3.5k down over 3 years. I know you'd find an equivalent deal on PCH with a payment about £40 a month lower than that, with around half the initial payment. Same term, same mileage, hand it back. 1 Link to comment Share on other sites More sharing options...
darrenm Posted March 26, 2016 Share Posted March 26, 2016 But then you wouldn't accrue the £4k or so difference between the car's value and the balloon with which to use as a deposit on anything else? My deal was a £22k model auris hybrid, discounted to £17k, a £1k deposit contribution from Toyota, then £247 a month interest free for 3 years with a healthily low balloon meaning I'll be up about £4k in 2 years. I plan on swapping it for a new model but I like the car so much I'd be very happy to refinance the remaining £6k to keep it. Could I have done better with PCH? Link to comment Share on other sites More sharing options...
wazzap24 Posted March 26, 2016 Share Posted March 26, 2016 What was your initial deposit contribution Darren? You got a decent discount and Toyota contributed £1k to the down payment, but what was your initial payment Your paying £8,892 in payments over 3 years and the balloon is £6k that's just shy of £15k, so did you put £1k down and Toyota put the other? What is your mileage allowance on the hand back? Link to comment Share on other sites More sharing options...
dubbs Posted March 26, 2016 Share Posted March 26, 2016 Picking up a 03 Audi A4 1.9 TDI on Tuesday. Only 95k on the clock. Cambelt done 2 years ago at 70k. This is quite a bit bigger than my old car so I'm thinking of getting rear parking sensors. Anyone fitted them to their car? Is it a quick and easy job? Link to comment Share on other sites More sharing options...
darrenm Posted March 26, 2016 Share Posted March 26, 2016 What was your initial deposit contribution Darren? You got a decent discount and Toyota contributed £1k to the down payment, but what was your initial payment Your paying £8,892 in payments over 3 years and the balloon is £6k that's just shy of £15k, so did you put £1k down and Toyota put the other? What is your mileage allowance on the hand back? 10k per year. I'm a bit over that at the moment but I don't intend to hand it back. I wouldn't be able to own a non hybrid now so it's either keep it or trade it in for a newer model. I think I put down £1k but not 100% sure on figures. I'd have to dig out the invoice. It's £248 a month 0% interest so I'm paying £9k. Link to comment Share on other sites More sharing options...
Ingram85 Posted March 26, 2016 Share Posted March 26, 2016 On 25/03/2016 at 15:32, chrisp65 said: Yeah, Qashqai would be the choice if money wasn't an issue. The car she's got at the moment is a Nissan Tino, it's the model before the Qashqai, so same dimensions, same camera and all that. Just looks utterly anonymous. But she bought it new 12 years ago and it's been brilliant. It's broken down twice in 12 years - both times I'd borrowed it and it was me wot broke it. Who knew it doesn't automatically shut down and switch off! Mine does, so I got out of it one night after borrowing it and walked off. Turns out you need to switch the lights off, close the windows, all that old tech stuff. Turns out you need to put the hand brake on too, it doesn't work it out for itself. Mine just says 'dickhead' in German and does all that admin stuff for me. But the Qashqai with a few bells n whistles and a camera is over £20k new. The equivalent Suzuki is £16k. The Suzuki is 'new' so there's no second hand or used equivalent. A Qashqai that isn't a base model that comes in under the new Suzuki price is 3 years old. We keep on delaying and delaying. We're actually now considering just spending something like £1,500 getting the current car totally sorted and keeping that. If we can afford the £2k deposit on new, surely we can afford the £1,500 repair but then without the £150 a month for ever afterwards. Buying cheap used, i.e. something for £6/7/8k feels like a risk, we could end up repairing a £6k car just as soon as the existing 12 year old bugger. Who knows, we've agreed not to discuss it this bank holiday weekend! Hired an Astra for a few days to stay mobile, but that's not a long term plan. Plus of course, the more family budget goes on the family car, the less budget will be available for mine when mine eventually dies! You can get the 2013-2014 model for around £16,000 now, probably a bit cheaper if you search around. Link to comment Share on other sites More sharing options...
Stevo985 Posted March 26, 2016 VT Supporter Share Posted March 26, 2016 On 25/03/2016 at 18:27, Straggler said: Always happy to take advice. The deal I am looking at is here http://www.ridgeway.co.uk/jaguar/new-cars/jaguarxe/ It went up a little at the weekend to £570 deposit, bu other than that it is the same. You're looking at the deposit contribution figure. That's the amount the dealership contribute toward your deposit. The amount you have to put down for the deposit will be much more. 1 Link to comment Share on other sites More sharing options...
wazzap24 Posted March 27, 2016 Share Posted March 27, 2016 11 hours ago, darrenm said: 10k per year. I'm a bit over that at the moment but I don't intend to hand it back. I wouldn't be able to own a non hybrid now so it's either keep it or trade it in for a newer model. I think I put down £1k but not 100% sure on figures. I'd have to dig out the invoice. It's £248 a month 0% interest so I'm paying £9k. Hats off to you then Darren. Getting a PCP with just £1k down is not too shabby. If you compare the offer on Toyota now, you'd need around £3.5k deposit. And you didn't trade your car in towards it as well from a previous deal? If I didn't know you were such an upstanding member of the VT community I'd question your honesty on that one!! You can contract hire the new 1.8 petrol hybrid cvt active for about £10.5k total over 3 years and you are doing it for £10k inc deposit. Although as you have said you are not handing back and are over mileage, so for a true comparison you'd have to wait unto you got rid of it and worked out the total amount you paid. Interestingly if you had a business you could contract hire the business edition tourer hybrid for just £8.6k over three years. I hate it when they tier the prices like that. Link to comment Share on other sites More sharing options...
darrenm Posted March 27, 2016 Share Posted March 27, 2016 Just checked actual figures. £750 Toyota deposit, £1000 from me, car £19,054, so £17,304 credit. Balloon £8615, £248.15 pcm 0%. Original price was £24k iirc. No idea if any of that is good or not. Link to comment Share on other sites More sharing options...
Straggler Posted March 30, 2016 Share Posted March 30, 2016 Right then, after an extensive week of driving cars, some good some bad, I have come full circle and purchased the Jag XE. Went through so many options but it was decided on pure driving experience, I just like being behind the wheel in the Jag. I really really wanted the Mustang, but the 10 month waiting period plus the cold hard reality of having to live with it as a high mileage work vehicle had to count it out. I'll just save up and but a 68/69 Fastback classic instead and drive it at weekends (or more likely in my dreams). In other news we are on the look out for a car for the wife. She wants something that sits her high up like a Range Rover. So far we have looked at the following Renault Kadjar, Ford Kuga, Mazda CX5, Toyota Rav 4, Nissan Quashqai. The wife so far likes the Kuga because it has a button that closes the boot for her (driving thrills not a priority here). Any recommendations or indeed horror stories about the above or similar cars. BTW thanks for the help with the other car, I really appreciated it. Link to comment Share on other sites More sharing options...
lapal_fan Posted March 30, 2016 Share Posted March 30, 2016 Why don't you just buy a 10k 2nd hand car and get a loan for 3 years? Sounds much more simple than all this other shite, plus you own the thing and can sell it for a few grand when you're done with it? Link to comment Share on other sites More sharing options...
Stevo985 Posted March 30, 2016 VT Supporter Share Posted March 30, 2016 17 minutes ago, lapal_fan said: Why don't you just buy a 10k 2nd hand car and get a loan for 3 years? Sounds much more simple than all this other shite, plus you own the thing and can sell it for a few grand when you're done with it? This way youget to drive a much nicer car Link to comment Share on other sites More sharing options...
lapal_fan Posted March 30, 2016 Share Posted March 30, 2016 Just now, Stevo985 said: This way youget to drive a much nicer car A Toyota? Link to comment Share on other sites More sharing options...
Stevo985 Posted March 30, 2016 VT Supporter Share Posted March 30, 2016 Just now, lapal_fan said: A Toyota? If that floats your boat... Link to comment Share on other sites More sharing options...
lapal_fan Posted March 30, 2016 Share Posted March 30, 2016 Just now, Stevo985 said: If that floats your boat... OMG A L33T AUDI OR BEEMA?? Link to comment Share on other sites More sharing options...
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