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The price of new cars.Views : 2380 Replies : 33Users Viewing This Thread : |
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Aug 16th, 2018, 20:04 | #11 | |
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Aug 16th, 2018, 21:58 | #12 | |
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This car is up in two years and I'll review the situation then. I suspect the option then will either be a hybrid or I will buy second hand as suggested. Other options will be taxed too high by then.
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Aug 17th, 2018, 20:09 | #13 |
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I would never purchase a car on PCP. The terms are against you. Better to save up and buy second-hand every couple of years after the gullible who lease have taken the initial hit in price.
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Aug 19th, 2018, 23:29 | #14 |
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Most people can't afford to 'buy' the cars they drive but, are happy to pay monthly for them, even if they have to cut back elsewhere. As a result, knowing that this is the state of the market, if cars were cheaper some market share would be lost to outright purchases. Higher prices mean the lease/PCP market stays strong, forcing people down that path no matter what.
I have done the lease thing on a 3 cars, 1 Astra GTC, 2x Mercedes E350. At the end of this, the PCP, lease etc thing was not for me, and I personally have no idea why anyone would choose this option, as you're still paying thousands a year for something that is not yours. Largely, I'm unimpressed with the true quality of new cars where the gadgets and tech hide the true cheapness of the build on most new cars. I'd happily spend £10-20K on a proper classic like Mercedes 190 Cosworth, BMW E34 M5 but, nothing modern that's for sure! Its quite funny to see the large number of people with new cars, either their own or on lease/pcp etc that cannot afford tyres and are always begging far in advance if we can save them a pair or two of good quality part worns. The used market has also shot up quite drastically over the past few years where people are asking daft money for some mundane old used cars. Interestingly even AutoTrader and dealers are by default showing monthly payment prices and seeing some modern used stuff, lets say a 3 series BMW for example, a couple of years old is more expensive on monthly payment examples compared to a new one....
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Aug 20th, 2018, 07:59 | #15 | |
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A lease car on the other hand is bought at the most expensive stage and you are constantly paying for a shiny new pin and have to chop it in just when it is at its most reliable! |
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Aug 31st, 2018, 12:57 | #16 |
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It does depend on the individual deal and how desperate they are to make that months sales figures. We went into a Fiat dealer to but a second hand 50p for my wife but ended up getting a brand new one for less even before we factor in three years worth of interest on the money sat in the bank. I appreciate that is the exception but always worth having an open mind on these things.
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Aug 31st, 2018, 15:59 | #17 | |
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TT
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Aug 31st, 2018, 18:19 | #18 | |
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Aug 31st, 2018, 19:34 | #19 |
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Do the math, lease over 36 months = £14,400. Assuming payments of £400.00 pm. Depreciation on a £30 odd k new car is at least £14,400. Plus no road tax to pay.
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Aug 31st, 2018, 19:55 | #20 |
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My cars costing me £269pm over five years but at the end it’s mine to trade or keep, nooooo balloon payment. Ok, the breakdown cost, servicing etc is at my cost but I still have something to show for it at the end. The way diesels are going to depreciate it’s probably not going to be worth much at the end but we’ll see in four years.
I looked at PCP but living on a terraced street where the local use your bumpers as a parking aid and the odd curious door key accidentally makes contact with your paintwork (yes, mines already been keyed) it’s an added cost when the car has to be handed back. I find the mileage limits a bit low too, 8k is unrealistic for us with the amount of touring we do so buying outright is a better option. I was offered an all singing and dancing V60 CC for £300pm on a 24 month contract but given my cars already been keyed and bunted in a car park it would have straight away added another £750 to the cost of the motor. Nah, I’ll stick to buying em outright and taking my chances. TT
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