# What do you pay Finance per month?



## Starbuck88 (Nov 12, 2013)

Not sure if this is a non starter but it'd be nice to see what people are paying for the deals they got.

I pay £215 a month with £1500 down on a £14650 Seat Exeo.. 42 Month PCP.


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## Brian1612 (Apr 5, 2015)

61 plate APE Essesse, 11k, 1.5k down for 46 months, 228 pper month.

New car, brand new Abarth 595 Competizione 180 bhp spec'd to 22k, 1k deposit, 47 months at £314 per month.... can't wait!


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## Puntoboy (Jun 30, 2007)

It makes me cry when I think of my finance...


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## Starbuck88 (Nov 12, 2013)

Puntoboy said:


> It makes me cry when I think of my finance...


LOL, I see you said elsewhere you pay £660 a month??


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## Puntoboy (Jun 30, 2007)

Starbuck88 said:


> LOL, I see you said elsewhere you pay £660 a month??


I said more than that... 

Because it is, but it's what I can afford. It's just a lot. But when I think about the car I have, no deposit, 3 years free servicing and I get to drive a brand new Jag.


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## Alzak (Aug 31, 2010)

it is 0 for me ...

Can't really see myself paying extra % just to get car quicker, I would rather save some and then buy, but for some finance is only option I know.


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## ardandy (Aug 18, 2006)

£500 deposit
£205pm
2 Years 0% PCP

Leaf!


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## rory1992 (Jul 22, 2012)

I wish I didn't put so much down on mine if it was a lease I wouldnt put as much down 

Renault megane 265 cup 
£4750 down £299.99 a month pcp over 31months I really wanted it over 24months as I'm impatient but im at 25 months atm and still enjoying it, yet still searching everyday. Looking at prices today and what my settlement fee is I should be close to making my deposit back so its pretty much the same as a lease


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## Kev_mk3 (Sep 10, 2007)

We put £3k down and pay £179 a month for the mrs Corsa 1.3 diesel Limited Edition. With buying a house we couldnt really pay any more and we got a great deal on the car. Just wish we paid a bit more for DAB now


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## Kimo (Jun 7, 2013)

Alzak said:


> it is 0 for me ...
> 
> Can't really see myself paying extra % just to get car quicker, I would rather save some and then buy, but for some finance is only option I know.


+1

Rather have a **** car but know that I've bought it myself rather than driving a car that isn't essentially mine whilst taking a big hit on the depreciation at the same time so by the time it's paid off and is actually mine but would want to sell its worth nowt


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## Grommit (May 3, 2011)

Audi S3 Saloon. £1500 down, £450 / month.

Bosh.


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## IamDave (Feb 6, 2015)

Volvo V40 T4

£394.10 a month. 4 years followed by optional final payment of £11500ish
£5750 down.

Hoping to pay off early after 3 years as I need to get my savings built up again or I'll never move out!

Still love the car but probably wouldn't buy one new again due to the price!


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## Starbuck88 (Nov 12, 2013)

Not sure why this sort of stuff interests me.

I like the comments about why they wouldn't do finance or PCP.

For me PCP is great as when doing it on a brand new car, the term is usually 3 years and keeps you in a brand new car.

If you don't miss the money, staying in a brand new car is a good way of it being less hassle when things go wrong etc (and hopefully not TOO wrong on a new car).


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## alan hanson (May 21, 2008)

Missign the money is the trick, too many people fall into the whole of they want it at all costs. For me to have a brand new expensive car these type of deals would be the only way but im just too tight to see it go


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## Starbuck88 (Nov 12, 2013)

alan hanson said:


> Missign the money is the trick, too many people fall into the whole of they want it at all costs. For me to have a brand new expensive car these type of deals would be the only way but im just too tight to see it go


That's your decision and that's perfectly fine.

Personally, I'm coming out of a PCP deal and am going to run our old car and then buy something cheap as a stop gap. (just have the 1 old car for a bit as the Mrs needs to commute).

Get other finances in order.

Then when missing the money isn't as much of an issue, I'll be back at a PCP plan in no time.


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## Alfieharley1 (Jun 8, 2014)

Mine is -
Renault Twingo play 1.0 SCE 15 plate brand new order all the spec

£1 deposit 
£124 a month PCP 
Final bill £4000


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## Puntoboy (Jun 30, 2007)

Starbuck88 said:


> Not sure why this sort of stuff interests me.
> 
> I like the comments about why they wouldn't do finance or PCP.
> 
> ...


That's why I did it. I get an allowance from work (not a specified allowance, we negotiated when I joined the company) so it's money that I use to get for a car.

Incidentally I pay:

Jaguar XF Sportbrake R-Sport. With options. RRP £42k.

£0 deposit
£699 per month
4.9%
48 months
3 years free servicing

I forget what the final figure is, but I won't keep it that long anyway. I've had it just over a year now and I'll have it for another 12-18 months. Then I'll be looking at either:

2-3 year old XK Dynamic R (maybe R-S)
2-3 year old XFR (maybe R-S)
Brand new XE-S
Brand new Mustang

Who knows. It will be a powerful petrol driven car.


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## robertdon777 (Nov 3, 2005)

Puntoboy said:


> I said more than that...
> 
> Because it is, but it's what I can afford. It's just a lot. But when I think about the car I have, no deposit, 3 years free servicing and I get to drive a brand new Jag.


If you Fancy a V8 next there are some great deals on the E Class 63AMG, less than you pay on the XF for personal deals.


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## Puntoboy (Jun 30, 2007)

robertdon777 said:


> If you Fancy a V8 next there are some great deals on the E Class 63AMG, less than you pay on the XF for personal deals.


Yes, sorry, the E63 and C63 are also on my radar. My friend works at Mercedes in Warrington and he keeps trying to get me in one and out of my XF. I took an A45 AMG out for a drive a few weeks ago. What a pocket rocket. :doublesho


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## robertdon777 (Nov 3, 2005)

Kev_mk3 said:


> We put £3k down and pay £179 a month for the mrs Corsa 1.3 diesel Limited Edition. With buying a house we couldnt really pay any more and we got a great deal on the car. Just wish we paid a bit more for DAB now


Some good deals on these over 3 years and 10K a year: £172 a month inc VAT with £1K down. for the 5dr Limited Edition 1.3 D

http://www.vehiclesavers.com/car-leasing/vauxhall/corsa-diesel-hatchback/1.3-cdti-ecoflex-limited-edition-5dr.html


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## robertdon777 (Nov 3, 2005)

I've always owned my cars for the past 23 years, but just gone Lease as i needed a cheap car with no repair bill for a couple of years.

Always owned fast/hot hatch type cars so this will be different to say the least

C1 Airscape (full canvas roof)
Beast 1.2 82bhp 3 cylinder

£350 down £115 a month..hand it back in 2 years.

Its gonna cost less to run and finance than my own car now (all paid for) costs just to run.

£185 a month vs £190 a month which includes fuel/tax/repairs/tyres/insurance etc etc.
If i get on ok with this type of ownership I may go bigger and better in 2 years, this is to dip my toe in the lease market. Luckily we have another very large very comfy family car that the Mrs has so i can get away with me having a city car.


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## IamDave (Feb 6, 2015)

I've never fully considered leasing a car every few years. I always seem to want to go with a package that offers the chance to purchase at the end. Even though the last 2 cars I had I never bought.


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## Freddie (Mar 17, 2013)

0 deposit, -£1000 from trade in (sadly owed more than it was worth but wanted rid as it seemed to enjoy an affair with the Citroen garage) paying £210 per month for 56months for what was a £8500 car (therefore a £9500 loan) on an 07 civic 1.8 EX. 
Am now 3.5 years into it though.


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## Soul boy 68 (Sep 8, 2013)

Traded in A1 for S1, £317 per month for 36 months with option to further extend finance or pay off remainder of £12,000 or I may consider another model but not another S1, another hot hatch yes but will see.


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## kartman (Aug 2, 2012)

I can happily say £0 and that at 24 I paid outright and fully own all 3 of my cars.
I'd much rather be driving around in my car that I own, and can do anything that I want to it, not one owned by the dealer/bank etc or one that is costing me loads of interest! I just save up and then buy what I want. I far too often see people my age who think the world owes them everything and that they should have it right away, living far beyond their means. This in no way appeals to me, and I buy what I can afford, simples.

Modern cars generally disinterest me so I doubt I will ever buy one, and certainly never finance one. My CC however is fairly new and is convenient to waft in an hour commute each way to and from work, however it was not cheap and ties up plenty of money. The look on the salesman face when I said I would pay in full on my debit card was priceless. He expected a nice bit of commision, more so than what he would get from selling the car just buy selling the finance to me! No chance.

Currently saving like mad for a house deposit and if the right one comes up I could easily sell the CC to help fund it as it is mine to sell.

Anyhow, rant over lol. I generally don't care what other people do but when someone is bragging about their brand new car which really they don't own/are leasing then don't be offended if I laugh in your face. Peace.


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## Puntoboy (Jun 30, 2007)

kartman said:


> Anyhow, rant over lol. I generally don't care what other people do but when someone is bragging about their brand new car which really they don't own/are leasing then don't be offended if I laugh in your face. Peace.


Laugh away. I'm happy.


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## ardandy (Aug 18, 2006)

kartman said:


> I can happily say £0 and that at 24 I paid outright and fully own all 3 of my cars.
> I'd much rather be driving around in my car that I own, and can do anything that I want to it, not one owned by the dealer/bank etc


You'll go nuts when you buy a house then. Unless you'll be saving up hundreds of thousands and getting it outright.

EDIT: And don't brag about it! Until it's paid off anyway!


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## robertdon777 (Nov 3, 2005)

The Bank Always wins LOL


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## robertdon777 (Nov 3, 2005)

All i know about my first lease car is that it will be treated to a Full...

1 Bucket Wash

Maybe a splash of tyre shine as a treat


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## Starbuck88 (Nov 12, 2013)

kartman said:


> I can happily say £0 and that at 24 I paid outright and fully own all 3 of my cars.
> I'd much rather be driving around in my car that I own, and can do anything that I want to it, not one owned by the dealer/bank etc or one that is costing me loads of interest! I just save up and then buy what I want. I far too often see people my age who think the world owes them everything and that they should have it right away, living far beyond their means. This in no way appeals to me, and I buy what I can afford, simples.
> 
> Modern cars generally disinterest me so I doubt I will ever buy one, and certainly never finance one. My CC however is fairly new and is convenient to waft in an hour commute each way to and from work, however it was not cheap and ties up plenty of money. The look on the salesman face when I said I would pay in full on my debit card was priceless. He expected a nice bit of commision, more so than what he would get from selling the car just buy selling the finance to me! No chance.
> ...


That is however your opinion and the way you look at it?

You aren't living beyond your means if your car payment is £300 a month and you have a spare £1000 a month?

I don't think self-entitlement really comes much into play when someone just wants to treat themselves to something new and can comfortably afford payments.

You're right in that your daft if you buy something and only just manage to meet the payments with all your other outgoings.

Also if you get a very low rate APR deal, which all manufacturers have including 0%...why wouldn't you keep the cash in the bank for emergencies and just make payments for your cashflow?

There is more to it than just black and white/right and wrong.


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## kartman (Aug 2, 2012)

Puntoboy said:


> Laugh away. I'm happy.


As others have said, everyone has different situations etc, I personally however will avoid finance wherever possible. I am a big fan of your car and i too would be happy with it


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## Puntoboy (Jun 30, 2007)

In fact a lot of manufacturers incentivise people to buy on finance and throw in extras. Like the free servicing and dealer contribution I got. If I walked in with cash it would have cost me more.


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## kartman (Aug 2, 2012)

ardandy said:


> You'll go nuts when you buy a house then. Unless you'll be saving up hundreds of thousands and getting it outright.
> 
> EDIT: And don't brag about it! Until it's paid off anyway!


A house is the exception clearly but there is nowt stopping you doing stuff to it once you've moved in. It does appear to be quite hard to find a house in my area with 3 garages and one bedroom though lol so I may have time to save haha


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## 182_Blue (Oct 25, 2005)

My payments are nothing, the only time i take out finance is when there is a cashback deal if you take out the finance, i then pay off the finance before the first payment is due therefore not attracting any charges, i do understand i am in a lucky position and it has absolutely nothing to do with me what others do therefore i would never judge anyone unless i knew the whole story.


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## kartman (Aug 2, 2012)

Starbuck88 said:


> That is however your opinion and the way you look at it?
> 
> You aren't living beyond your means if your car payment is £300 a month and you have a spare £1000 a month?
> 
> ...


I never said it was wrong and just my opinion of course. I have no problem with people happily affording the repayments, it is those I see forking out a fortune a month and then scrounging everything else where I think what is the point.


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## ardandy (Aug 18, 2006)

kartman said:


> A house is the exception clearly but there is nowt stopping you doing stuff to it once you've moved in. It does appear to be quite hard to find a house in my area with 3 garages and one bedroom though lol so I may have time to save haha


My PCP is 0%.
I can modify the car as much as I want.
I can buy it at the end if I wish.

If I'd have been a cash buyer it wouldn't have come with the £3500 Nissan contribution too so would've cost me more.


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## afoggo (May 5, 2014)

I was £3500 down and £290 a month on a 48 month pcp for my Audi A1 with 17k/year mileage allowance. 

Don't think it was the best deal but learned from it. Hoping to change the car in a year or so if funds allow me to. Hoping to increase my monthly payment to £350 and my mileage has reduced with my new job. Keeping an eye out for any deals, lease or pcp.


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## Kiashuma (May 4, 2011)

£450 down, drive it away forever. My Reliant


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## m4rkymark (Aug 17, 2014)

im surprised so many people have a car on a lease deal. I didn't think they were that popular - IRL I only know of 2 people both of whom put the car through their business so claim the VAT back etc.

I don't know if I agree with it or not tbh - on one hand if you have the money and don't miss it every month then why not - on the other hand its a lot of money to pay for a car you don't own however if you bought a car new the depreciation would be as bad as the lease costs so its all swings and roundabouts really.

BMW have said leasing is the way forward in the future and not car ownership - I have no doubt this is true because I believe the govt. will stitch us up with legislation, put forward by manufacturers, which will make leasing the only viable option for car 'ownership'.


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## Soul boy 68 (Sep 8, 2013)

Lets try and keep this civil please, one or two comments are little below the belt, this topic could get contentious and we don't want that, do we?


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## robertdon777 (Nov 3, 2005)

m4rkymark said:


> im surprised so many people have a car on a lease deal. I didn't think they were that popular - IRL I only know of 2 people both of whom put the car through their business so claim the VAT back etc.


The issue with a business lease though is that they will also pay BIC on their income, which can be more than the VAT, so its not always as simple as running it through a Business. Sometimes a personal lease will be better if the company can pay the employee extra to cover the cost of a personal lease (assuming it doesn't push them into a higher tax bracket)

Example: 208 GTi

Lease Business: £117 per month £1050 down (claim VAT back) but add on another £70 personal BIC Tax if on 20% Tax rate.

Personal Lease: £140 per month £1256 down (inc VAT) no BIC Tax but employer would have to Pay Employee an extra £192 a month to cover the car and thats an extra £38 a month tax.

So I think personal would be better on this.


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## Starbuck88 (Nov 12, 2013)

Sooooo...............

What do you pay? 

Anymore for anymore?


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## m4rkymark (Aug 17, 2014)

robertdon777 said:


> The issue with a business lease though is that they will also pay BIC on their income, which can be more than the VAT, so its not always as simple as running it through a Business. Sometimes a personal lease will be better if the company can pay the employee extra to cover the cost of a personal lease (assuming it doesn't push them into a higher tax bracket)


the people I know who lease cars through their business are all in the higher tax bracket and run pretty expensive cars - A8 & M5 previously C63 and S500


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## JBirchy (Oct 9, 2010)

The great finance debate continues! 

Personally, it works for me as I get a monthly car allowance from work. Not only that, it's important to me to drive a nice car as I'm a self-confessed petrolhead. I adore cars, and I love driving what I believe to be a nice one. Some might see that as vain and wasteful but as Puntoboy says, it makes me happy, I certainly don't do it to please anyone else.

Applied to business purchases, accountants use the adage 'if it appreciates, buy it - if it depreciates, lease it' and given that most cars these days depreciate, l'll go with their advice on that.

I borrow a MK7 Golf GTI from the nice chaps at Volkswagen Finance. I managed to spec it up quite nicely and negotiated a 13% discount from the list price which was £31,540 after I'd added the toys I wanted.

So, I paid them £1,500 cash deposit and the monthly payments are £373. GFV is something like £15k after 4 years as GTI's are known for holding their value. 

I don't ever intend to keep it for the duration, hopefully changing in another 12-18 months for a family car. Like Puntoboy, I'd love a Jag XE-S. I sat in one the other day and it properly gave me the fizz. :driver:


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## robertdon777 (Nov 3, 2005)

As mentioned earlier you would be mad to buy some cars with your own cash.

208 GTi above is one big example and the Megane RS265 deals they are doing now too. They work out at £6700 paid out over 2 years. There is now way in the world if you paid cash for one 2 years ago that you'd of only lost £6700...Just look on the trader for the evidence..average price drop: New: £26K (Say good discount £24K) 2 year old one trade price £15-16.5K...


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## robertdon777 (Nov 3, 2005)

m4rkymark said:


> the people I know who lease cars through their business are all in the higher tax bracket and run pretty expensive cars - A8 & M5 previously C63 and S500


This works then on these


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## TomWVXR (Mar 16, 2012)

£177 deposit and £177 per month for 23 months for a brand new Corsa VXR with options, 5k mileage per year but excess is roughly 5p per mile


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## m4rkymark (Aug 17, 2014)

robertdon777 said:


> As mentioned earlier you would be mad to buy some cars with your own cash.
> 
> 208 GTi above is one big example and the Megane RS265 deals they are doing now too. They work out at £6700 paid out over 2 years. There is now way in the world if you paid cash for one 2 years ago that you'd of only lost £6700...Just look on the trader for the evidence..average price drop: New: £26K (Say good discount £24K) 2 year old one trade price £15-16.5K...


the other thing you need to think about is getting rid of the car - if you trade it in you will get bent over backwards and if you try and sell it everyone wants it for nowt! I guess when leasing you just hand the keys back and don't worry.


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## robertdon777 (Nov 3, 2005)

TomWVXR said:


> £177 deposit and £177 per month for 23 months for a brand new Corsa VXR with options, 5k mileage per year but excess is roughly 5p per mile


That's a blinding deal for a very underated car. In Warranty without gearbox issues these are good cars.

Check your mileage though as some companies state that if the allowance goes over 30% of the annual allowance they start stinging you more that the 5p + VAT (so usually 6p per mile industry standard), Can start to get very expensive.


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## TomWVXR (Mar 16, 2012)

robertdon777 said:


> That's a blinding deal for a very underated car. In Warranty without gearbox issues these are good cars.
> 
> Check your mileage though as some companies state that if the allowance goes over 30% of the annual allowance they start stinging you more that the 5p + VAT (so usually 6p per mile industry standard), Can start to get very expensive.


I've got the current Corsa Vxr and when I saw that deal it was too good to miss. Keeping both though. The max they charge for over 10k over the 2 years is 6.64p per mile. Anything under 10k extra is 5.5p I think


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## SteveTDCi (Feb 8, 2006)

Interesting reading, I'm currently trying to find something around £150 per month or less with no deposit. Trouble is we want auto which pushes the prices up.

The one around personal lease or business I would always go business for the simple reason if you lose or change your job the lease stays with the company and you don't get lumbard with it.

Buying outright or lease, well it depends what would lose the most. Very often you will spend less on a lease than the depreciation on a new car. However you could argue what you spend on lease would actually buy you an older car you would own.


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## RisingPower (Sep 21, 2007)

SteveTDCi said:


> Buying outright or lease, well it depends what would lose the most. Very often you will spend less on a lease than the depreciation on a new car. However you could argue what you spend on lease would actually buy you an older car you would own.


This. Does it really make financial sense to buy a new car not on a lease.

I wonder how many m4's are leased, sure you could pay 55k outright, lose a large amount on depreciation, or lease it for a few years and pay about the same.


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## Kriminal (Jan 11, 2007)

Nowt for me. I'm old school.....if you ain't got it, you can't have it.

I may drive an Audi TT mk2, but it's taken me about 10 cars and 25 years to get here. So, no bragging from me.

As others have said - for some, finance is the only option, so I'm not here to judge :thumb:


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## RisingPower (Sep 21, 2007)

Kriminal said:


> Nowt for me. I'm old school.....if you ain't got it, you can't have it.
> 
> I may drive an Audi TT mk2, but it's taken me about 10 cars and 25 years to get here. So, no bragging from me.
> 
> As others have said - for some, finance is the only option, so I'm not here to judge :thumb:


Doesn't really work that way, lot of people can perfectly afford cars but take out finance on them instead.


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## robertdon777 (Nov 3, 2005)

RisingPower said:


> Doesn't really work that way, lot of people can perfectly afford cars but take out finance on them instead.


I think this is a good way of thinking.

Cars have got more expensive - look at Range Rovers etc. But they are selling tons of them, even in this country.

I bet many many people who drive them can't afford to drop 78K cash down to own a base spec model. But many people can certainly afford to drop 7K deposit and 850 quid a month on one. They are ten a penny round by me. But that might have something to do with living between the Jag plant and The Landrover plant, every man and his dog has one.

It suits the manufacturers too, a steady supply to dealers and the dealer is getting a 3 year old car back to sale that has a set mileage of say 10k per year and has been serviced, so easy re-sale for them.

Leasing/PCP has become huge over the past 5 years and it will only become bigger, cars are now like white goods, throw away items after 3 years to many many people.


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## Kriminal (Jan 11, 2007)

RisingPower said:


> Doesn't really work that way, lot of people can perfectly afford cars but take out finance on them instead.


And that's why I said '*for some*, finance is the only option'.


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## SteveTDCi (Feb 8, 2006)

We had a bank loan, much less than dealer finance something like 4% Apr so I think we will pay something like £300 in interest. Yes we could have purchased the car outright but interest on savings is very low and I would rather have money on stand by. I can sell the car with without having to clear dealer finance too.

Had I have gone down the original plan of pcp on a fiesta St I would have stumped up£6000 and had a £200 monthly payment and owned nothing at the end.

However I am currently looking at leases,our Saab is costing us £163 per month in fuel, mot and tax, there is no depreciation give its age. Any issues, tyres servicing etc are on top of this. My idea of a Nissan Leaf would have mean't payments of £183 per month, no deposit so effectively £20 extra for a brand new warranted car. However I could buy a cheap fiesta and have lower costs, however it only needs one £1000 bill to make the lease/pcp cheaper.

Jag workers will get them silly cheap as will Land Rover workers. Many years ago there was a rumour some staff were paying just over £100 per month for a brand new Range Rover.


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## Hereisphilly (Nov 17, 2014)

£1038 down, £173 pcm, 8k mileage for 3 years
Fiesta ST-2, bargain I think!


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## Dannbodge (Sep 26, 2010)

10k down
5k borrowed from my mum
Unlimited mileage
0% interest 
Unlimited payback time

£250 a month for my 335i


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## Kriminal (Jan 11, 2007)

The bit that scares me, is what do you do if you lose your job over the time of paying back your PCP?

In this day and age nobody's job is totally secure, and a slight nudge around the corner could change your finance income from hero to zero.....scary stuff if you have any PCP hanging over you, don'tcha think?


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## Rayaan (Jun 1, 2014)

£0 lol - Never have financed, never will finance unless I get 0% or £1500 off deposit or something and then pay it all off in one go. 

On the last few occasions, I was quoted around £750 per month for 35 months, £10k deposit and £1500 deposit contribution. Problem was - they gave me an even bigger discount if buying outright with cash so just put down the £49k and got £6k discount. With finance they would only give me £1500 deposit contribution + £2.5k off. Weird that was.

Could easily get a Bentley Continental GT 6.0l on finance if I wanted but I cant pay £150k in one go unless I work my ass off for a couple of years after the stupid 45% tax rate.

Being self employed doesnt make the decision easier - if I can't work I wont be getting anything so no way to pay for the car apart from savings. 

It appears that drug dealers are very fond of leasing - if they get caught, the car will be back to the owners so nothing is actually going from their own pockets


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## Kriminal (Jan 11, 2007)

Rayaan said:


> It appears that drug dealers are very fond of leasing - if they get caught, the car will be back to the owners so nothing is actually going from their own pockets


^ good point. So how many of these others on DW do you think are druggies?....just between you and me off course - I won't tell.


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## RisingPower (Sep 21, 2007)

Kriminal said:


> The bit that scares me, is what do you do if you lose your job over the time of paying back your PCP?
> 
> In this day and age nobody's job is totally secure, and a slight nudge around the corner could change your finance income from hero to zero.....scary stuff if you have any PCP hanging over you, don'tcha think?


Return car, pay fees and portion of interest?

I'd be more concerned about having a mortgage you're unable to pay.


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## PaulaJayne (Feb 17, 2012)

£0 per month

£2700 bought the XK8
£400 Bought the XJ6

Do not like to be in debt in any way shape or form.

If I can not buy it cash then I do not buy it.

Do not use a credit card and have no idea what my credit rating my be. Do not want credit so no worries.


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## RisingPower (Sep 21, 2007)

PaulaJayne said:


> £0 per month
> 
> £2700 bought the XK8
> £400 Bought the XJ6
> ...


Do you have a mortgage?


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## brutamuk (Oct 19, 2013)

Brand new Renaultsport Megane 265, cup pack, Recaro's, I.d paint and spare wheel. Paid £19700, list price just over £29300.
Deposit including trade in £7400.
Loan at 3.6% £246 per month over 52 months. 
Seemed a good deal at the time, considering I was looking at the same price for a 18 month old one. 
Might keep it a couple of years and hopefully not lose too much.


----------



## AdamC (Jan 31, 2013)

Up until now I have always bought my cars cash. My next car though will most likely be on a pcp/lease.


----------



## Hereisphilly (Nov 17, 2014)

RisingPower said:


> Return car, pay fees and portion of interest?
> 
> I'd be more concerned about having a mortgage you're unable to pay.


**This**


----------



## Soul boy 68 (Sep 8, 2013)

Kriminal said:


> Nowt for me. I'm old school.....if you ain't got it, you can't have it.
> 
> I may drive an Audi TT mk2, but it's taken me about 10 cars and 25 years to get here. So, no bragging from me.
> 
> As others have said - for some, finance is the only option, so I'm not here to judge :thumb:


Well said, we are not here to judge what others do, at the end of the day we all work hard enough and if we can pay the finance and are happy then enjoy our cars.


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## robertdon777 (Nov 3, 2005)

Yeah better keep the thread on Track..No Willy Waving...

Car:

How Much Per Month:

Deposit:

Every car costs somthing per month even if you pay outright, Depreciation costs per month etc etc (talk to any Bently owner - pay outright loose 1K a month) So lets keep it simple, so people who do want to lease PCP can see what other deals people got and may be interested in for future.


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## robertdon777 (Nov 3, 2005)

SteveTDCi said:


> Jag workers will get them silly cheap as will Land Rover workers. Many years ago there was a rumour some staff were paying just over £100 per month for a brand new Range Rover.


I've got 3 members of the family who have worked since leaving school for JLR, and 2 Neighbours, and 2 Close Friends who also work there.

All the good deals have gone but they do still get very nice packages especially higher up the scale. They pay no BIC on them because they work for the Manufacturer so thats a big plus.

The Managers change cars every 9 months and typically pic from Top of the Range Disco's, XF's and Evoques. The higher up you go the choice goes to Full Fat RR, F Types R's, And XJ's.

Normal workers still get the Ford scheme cars at reduced rates, £200 a month for a Mid spec Ford Kuga, no deposit.

They have said the Ford deal won't last too much longer though because Mr TATA doesn't want it.


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## m4rkymark (Aug 17, 2014)

PaulaJayne said:


> Do not like to be in debt in any way shape or form.
> 
> If I can not buy it cash then I do not buy it.
> 
> Do not use a credit card and have no idea what my credit rating my be. Do not want credit so no worries.


We are the same, we have no debt at all and don't use credit cards - consider ourselves very lucky though.


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## RisingPower (Sep 21, 2007)

m4rkymark said:


> We are the same, we have no debt at all and don't use credit cards - consider ourselves very lucky though.


You don't have a mortgage either?


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## Rayaan (Jun 1, 2014)

Kriminal said:


> ^ good point. So how many of these others on DW do you think are druggies?....just between you and me off course - I won't tell.


Easily could be some on DW I'm sure lol.

Around where I live it appears they mostly drive Audi's or Golf R's on leases. About 10 get caught every week according to my brother who deals with these lot


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## CoOkIeMoNsTeR (Mar 6, 2011)

£18,000 deposit
£600pm x 36 months

2005 Aston Martin DB9 cash price £38,500 bought October 2014 :thumb: 

Finance gave me some protection with the car still belonging to the bank (technically) even though I overpay it every month to own it outright quicker.

Could have afforded a new one on PCP but why when I'll own mine next year.


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## m4rkymark (Aug 17, 2014)

RisingPower said:


> You don't have a mortgage either?


Nope we don't.


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## Rayaan (Jun 1, 2014)

RisingPower said:


> You don't have a mortgage either?


The difference is that not many people can afford an average house outright. Most people can however afford an average car.

Houses also don't depreciate unless the market goes down or its neglected but generally stays level. New cars tend to depreciate no matter what

Therefore you can buy a car that's 2 years old and it'll be cheaper. However you won't be able to buy a 2 year old "used" house for less than it was when "new"

I can't see how financing works out cheaper than buying outright unless you own a severely depreciating vehicle or its 0%. The interest on some premium cars is quite high, usually about 7.9% or so.

Car leasing wouldn't exist if it was beneficial to the buyer, it's either more expensive or the same. It's all about making money for the businesses akin to a mortgage.

The whole point is to get people to buy new cars and from a psychological perspective, it tricks people into thinking they get a better deal (unless they actually are getting a better deal which is unlikely) and people then tend to get another car on lease when the current lease runs out. It becomes a vicious cycle which ensures guaranteed income for businesses. Of course you always have the inspections when you give the car up which is similiar to part exchanging as they use dealer prices for ALL work needed no matter how small it is.

I know a lot of people who have more expensive cars than me, sometimes I get jealous (lol who doesn't!!) but most are parked on houses which are barely worth 4 times as much as their car. Id rather have a nice car and a house to suit it!


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## Starbuck88 (Nov 12, 2013)

robertdon777 said:


> Yeah better keep the thread on Track..No Willy Waving...
> 
> Car:
> 
> ...


This is why I started the thread, I find it fascinating what you can get for the money and what deals people have got. I love it.

But I think it's ok to have a grown up and amicable discussion on whether finance is a good or bad thing, not 1 of us here are in exactly the same situation, points in our life etc...so one mans deal is another mans noose...

Keep them all coming.


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## SteveTDCi (Feb 8, 2006)

Fiesta St-2 price is a good one, I was quoted £208 per month over 36 months with a £500 deposit for a 1.0 fiesta titanium powershift.

Pcp and lease are slightly different, with pcp you can sell the car and take the equity or pay the negative equity. Lease - or the ones I've dealt with usually incure a cost of 50% of all outstanding rentals.


----------



## Starbuck88 (Nov 12, 2013)

SteveTDCi said:


> Fiesta St-2 price is a good one, I was quoted £208 per month over 36 months with a £500 deposit for a 1.0 fiesta titanium powershift.
> 
> Pcp and lease are slightly different, with pcp you can sell the car and take the equity or pay the negative equity. Lease - or the ones I've dealt with usually incure a cost of 50% of all outstanding rentals.


I think personally, any normal car, like an everyday driver...I'd get in pcp, like I have so I can chop, change and sell when I like (again like I'm doing now) it gives you a bit of freedom.

However, for something pricier or special, leases seem to be cheaper, on the face of it anyway....


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## m4rkymark (Aug 17, 2014)

Rayaan said:


> I can't see how financing works out cheaper than buying outright unless you own a severely depreciating vehicle or its 0%. The interest on some premium cars is quite high, usually about 7.9% or so.


I think it depends on the car your leasing and how long you keep your cars, Some people like a new car every 2 or 3 yrs and don't want the hassle of owning something that depreciates quickly and looses money.

One of the chaps I know paid £16k over 2yrs for his last car which had a list price of £65k - after his 2yr lease he could have bought it for £26k. So if he had bought it after his lease he would only have paid £42K in total for a new car whereas buying it outright would have cost him £65K - yes he might have got a discount off the list price but there's no way he would have got £23K discount.

If the same fella had of bought the same model at 2yrs old he would have paid about 5% less than the £42k however he wouldn't have known the history of the car nor would he have owned it from new.

I don't believe you would get these savings on a small car - big cars loose money like snow off a **** and as such I think it costs in when buying an expensive car.


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## SteveTDCi (Feb 8, 2006)

Pcp is big in the USA, it's designed to give you some form of equity at the end towards your next car. With a lease you are only leasing it so are never in the situation where you have equity, it's partly why they are slightly cheaper. You can sometimes but the car but it wouldn't be as cheap as the gmfv. People often wanted to buy our ex lease cars and were dissapointed when they wanted somewhere between trade and auction for them. Not £500 like they thought they were worth ....


----------



## Rayaan (Jun 1, 2014)

m4rkymark said:


> I think it depends on the car your leasing and how long you keep your cars, Some people like a new car every 2 or 3 yrs and don't want the hassle of owning something that depreciates quickly and looses money.
> 
> One of the chaps I know paid £16k over 2yrs for his last car which had a list price of £65k - after his 2yr lease he could have bought it for £26k. So if he had bought it after his lease he would only have paid £42K in total for a new car whereas buying it outright would have cost him £65K - yes he might have got a discount off the list price but there's no way he would have got £23K discount.
> 
> ...


Online brokers such as Drive The Deal were giving off £20k off an Audi A8 a while ago. Brings the price down quite nicely!

Ive never come across a £65k car costing only £16k over 2 years. It's always been double that whenever I bothered to check. Of course there are some decent deals to be had on outgoing models though


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## Kerr (Mar 27, 2012)

Rayaan said:


> Online brokers such as Drive The Deal were giving off £20k off an Audi A8 a while ago. Brings the price down quite nicely!
> 
> Ive never come across a £65k car costing only £16k over 2 years. It's always been double that whenever I bothered to check. Of course there are some decent deals to be had on outgoing models though


BMW leased out the 640D for £399 per month for 24 months with 6x399 as the deposit a while back. I'm sure there was offers on again recently.

Lots of guys on the BMW forum jumped on it as cheap for a car of that cost.

The problem with the great lease deals is you either need to wait an awful long time, or lease a car that you wouldn't have really picked otherwise.


----------



## footfistart (Dec 2, 2013)

I pay 231.33 per month for five years for my Ford Mondeo TXS. Been paying since October last year. Had a few problems but once arguing had been done and 2,500 of free stuff later I'm happy . I'll be keeping the car. Car bought for 9500. Came with 3 years warranty, three years servicing two years brake down.


----------



## Kerr (Mar 27, 2012)

Lease deals are getting more and more appealing. The things that I don't like is I wouldn't feel in control. I guess that's just a mindframe I should try to get over. 

I see quite a few people getting sizeable bills for cars that have scuffs, dings and scratches. However I guess that a car that you own is also worth less if in a similar condition. You're not forced to sell it and encounter those fees though. 

There is no cheap way to buy a car, especially a new one. You're always going to lose a packet except the odd rarity. 

People always criticise people for buying new cars, but how would they ever be able to buy a used one if nobody ever started the cycle by buying a new car to start with?

Credit and money always leads to willy waving on forums. Different people have different views on it and both sides have their downfalls. 

There are people up to their eyeballs in credit barely making ends meet, yet others that avoid it for everything other than the mortgage as they think they are saving wasted money on interest. 

Having no credit history is a bad thing. When you come to get that big mortgage, you won't get a great rate due to your credit history. So although you think you're being sensible, all that interest you avoided by saving money to purchase items, will all now be lumped into your one big justifiable loan. It is kind of shooting yourself in the foot.

A credit card is an absolute must for me. It gives you so much more protection and benefits over a debit card. They can be worth their weight in gold. Used correctly they are a great thing, used badly they can cause people's debts to get out of hand. 

Even if you don't want to finance items, a credit card is a must for me. Buy the items on the credit card and go home and instantly pay off the balance if it makes you feel better. You aren't always using a credit card for finance, just for buyer's protection and to gain a credit rating. 

There is no cheap way of buying a car, you're always going to lose. Cash used to be king years ago and a dealer would bite your hand off for cash. Now they earn their crust through finance deals and offer incentives to the customer to use them. 

Years ago your money was worth something in the bank. Now interest rates are very low and you get very little back. Loan deals are also low too closing the gap.

There is just too many things to take into account to say financing and leasing are wrong. There's nothing too wrong with either if you can comfortably afford to pay the money back. It's money moving that makes the economy move.

There's just so many arguments you can have about finance. Personal circumstances mean a lot in every decision.


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## m4rkymark (Aug 17, 2014)

Rayaan said:


> Online brokers such as Drive The Deal were giving off £20k off an Audi A8 a while ago. Brings the price down quite nicely!
> 
> Ive never come across a £65k car costing only £16k over 2 years. It's always been double that whenever I bothered to check. Of course there are some decent deals to be had on outgoing models though


nope this deal was on the very newest model of A8 - as Kerr says the deals are there to be had - if your in the right place at the right time then it works in your favour.


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## Christian6984 (Dec 20, 2007)

PCP Ford Fiesta ST-3 

5500 Deposit, Ford Contributed £750 = 6250
24x £123 Per Month
settlement is around £9400


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## Tricky Red (Mar 3, 2007)

footfistart said:


> I pay 231.33 per month for five years for my Ford Mondeo TXS. Been paying since October last year. Had a few problems but once arguing had been done and 2,500 of free stuff later I'm happy . I'll be keeping the car. Car bought for 9500. Came with 3 years warranty, three years servicing two years brake down.


So the finance is costing you just shy of £4,000. Seems an expensive way to do it.


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## PaulaJayne (Feb 17, 2012)

RisingPower said:


> Do you have a mortgage?


No mortgage, I own £0 to no one.


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## robertdon777 (Nov 3, 2005)

Christian6984 said:


> PCP Ford Fiesta ST-3
> 
> 5500 Deposit, Ford Contributed £750 = 6250
> 24x £123 Per Month
> settlement is around £9400


Some very good lease deals going on with the ST fiesta at present, if your thinking of a new one.


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## johanr77 (Aug 4, 2011)

PaulaJayne said:


> Do not use a credit card and have no idea what my credit rating my be. Do not want credit so no worries.


Credit rating would be low because you couldn't establish a history of being able to pay back loans.

Sounds like you're very wealthy so it won't be a problem as you don't need to borrow cash :thumb:


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## Sutty 90 (Aug 24, 2014)

A question the people who lease, 

Do you look after the vehicle as well as you would if you owned it even though you have no intention of keeping it?

Always wondered if people deem it a waste of expensive products keeping a short term vehicle looking immaculate.

Sutty


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## Tricky Red (Mar 3, 2007)

Sutty 90 said:


> A question the people who lease,
> 
> Do you look after the vehicle as well as you would if you owned it even though you have no intention of keeping it?
> 
> ...


I would yes.


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## paleredfox (Sep 23, 2012)

V40 Rdesign
213 x 48
£1200 down

It worked out much of a muchness either maintaining the car we had previously, purchasing a "newer" used car and being liable for the costs and the danger of something big popping up with a bigger initial outlay or just using the older car as a PX and having a new car for the first time, all servicing, warranty and mechanical issues pretty much taken care of.

In that situation the finance/PCP is a phenomenal way to purchase a new car and if you have a problem with it, you have some comeback and support to get it resolved as Ive found out.



Sutty 90 said:


> A question the people who lease,
> 
> Do you look after the vehicle as well as you would if you owned it even though you have no intention of keeping it?
> 
> ...


Yes, absolutely. If its a nice car and you take pride in anything then its worth it.


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## rf860 (Jul 24, 2011)

Sutty 90 said:


> A question the people who lease,
> 
> Do you look after the vehicle as well as you would if you owned it even though you have no intention of keeping it?
> 
> ...


Nowhere near as well. I rarely wash and hoover mine. I'm going to do it this weekend i think because it really NEEDS done. When I do clean it, i still make a decent enough job.

In response to the OP's question, i pay £236 per month and paid 6 x £236 deposit for a VW Golf GTD over 24 months and 10k miles per year.

This is first car i've ever financed - all previous cars have been owned outright. The reason i done the lease was to release all the money i had tied up in my car (which i loved!) and put towards the savings i'd built up over the years to make the biggest deposit possible for buying my house.

Would i ever do it again? Probably not, unless it was a car i really wanted.


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## pee (Apr 6, 2009)

£220 over 42months 0% pcp deal


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## Starbuck88 (Nov 12, 2013)

pee said:


> £220 over 42months 0% pcp deal


What on Pee?


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## Hotchy (Jul 22, 2010)

Depends what deals are about. Sometimes just leasing the car is cheaper than the 2 year depreciation. Take a merc. Leasing 6-7k over 2 years. Depreciation may hit 9-10k. Also if you can afford the payments, you can afford the car.


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## Christian6984 (Dec 20, 2007)

robertdon777 said:


> Some very good lease deals going on with the ST fiesta at present, if your thinking of a new one.


the lease deals are fantastic and let you get one with a relatively small deposit, I know its not recommended to put such a big deposit on PCP but I wanted tiny monthly payments to the point i wouldn't barely notice them, I really fancy keeping it, love it to bits and now i have the used fiesta diesel it can just come out on dry days :driver: ive got the used one that can be dirty or covered in bugs and it doesnt bother me as bad

I am surprised how cheap they are to PCP, A friend of mine really likes the Focus ST and they seem to have way more expensive monthly payments even with big deposits


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## robertdon777 (Nov 3, 2005)

Yeah the Fiesta is the pick of the range. Shame they don't do the 5dr ST like in the US otherwise I would have one.


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## RD55 DUN (Dec 30, 2008)

Christian6984 said:


> the lease deals are fantastic and let you get one with a relatively small deposit, I know its not recommended to put such a big deposit on PCP but I wanted tiny monthly payments to the point i wouldn't barely notice them, I really fancy keeping it, love it to bits and now i have the used fiesta diesel it can just come out on dry days :driver: ive got the used one that can be dirty or covered in bugs and it doesnt bother me as bad
> 
> I am surprised how cheap they are to PCP, A friend of mine really likes the Focus ST and they seem to have way more expensive monthly payments even with big deposits


My brother has just picked up his leased Fiesta ST3, pays £194 a month. £1200 deposit.

It's a great little car, very quick for its size and sounds good on the inside.

Seriously tempted myself, the best ive seen is 6+23 @ 202/ month.

Id also quite like the focus st, especially in the Stealth Grey…but the deals on them are quite expensive, especially the petrol ones.


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## robertdon777 (Nov 3, 2005)

You can get a Good deals on the ST-2 Fiesta (which has plenty of kit)

188 a month with 1130 down

http://www.mad-sheep.co.uk/personal-lease-cars/ford/fiesta-hatchback/16-ecoboost-st-2-3dr-31057215

Hard to beat the Pug 208Gti Prestige (packed with kit) offers though...No Deposit 201 a month over 18 months

http://www.mad-sheep.co.uk/personal-lease-cars/peugeot/208-hatchback/208-hatchback-16-thp-gti-prestige-3dr-32699436


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## Deanoecosse (Mar 15, 2007)

As other have said, in a lot of cases, leasing is now making more financial sense than buying with your own cash. My own Personal lease: £650 deposit and £240 per month on a Skoda Octavia Scout 184 DSG over 24 months. Total cost over the 2yrs about £6400. Leasing was a total no brainer as I couldn't have bought this £29k car and lost less than £6400 in depreciation over 2 years.
Some people get a bit ar5ey over leasing as opposed to buying as "it's not your car". What difference does it make? So what if my name isn't on the log book, It's still on my driveway and I'm driving it every day. Unlike someone who may have dropped £29k of their own cash into the car, I don't have to worry if it depreciates like a stone, i just hand it back and get another new car. Makes perfect sense to me.


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## robertdon777 (Nov 3, 2005)

Deanoecosse said:


> As other have said, in a lot of cases, leasing is now making more financial sense than buying with your own cash. My own Personal lease: £650 deposit and £240 per month on a Skoda Octavia Scout 184 DSG over 24 months. Total cost over the 2yrs about £6400. Leasing was a total no brainer as I couldn't have bought this £29k car and lost less than £6400 in depreciation over 2 years.
> Some people get a bit ar5ey over leasing as opposed to buying as "it's not your car". What difference does it make? So what if my name isn't on the log book, It's still on my driveway and I'm driving it every day. Unlike someone who may have dropped £29k of their own cash into the car, I don't have to worry if it depreciates like a stone, i just hand it back and get another new car. Makes perfect sense to me.


My first lease car arrives Monday, I'm glad I went this route too. It will be nice not to have to think about repairs, garages etc for a couple of years.


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## Kerr (Mar 27, 2012)

Once leasing becomes too popular, what happens with all the used cars? 

More people will be leasing new cars and the demand for used cars will dry up a bit surely? That's got to have a knock on effect on values too?


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## robertdon777 (Nov 3, 2005)

Kerr said:


> Once leasing becomes too popular, what happens with all the used cars?
> 
> More people will be leasing new cars and the demand for used cars will dry up a bit surely? That's got to have a knock on effect on values too?


It will become a throw away item but not for a good while yet, the used car market is still a massive revenue source for dealers.

Compared to 20 years ago though the average Joe doesn't want a second hand car. Shame it has gone like this but others would see it as progress.


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## Kerr (Mar 27, 2012)

robertdon777 said:


> It will become a throw away item but not for a good while yet, the used car market is still a massive revenue source for dealers.
> 
> Compared to 20 years ago though the average Joe doesn't want a second hand car. Shame it has gone like this but others would see it as progress.


The car market appears to be going the way of the housing market.

The rich people with too much control over the market keeping prices high, and those at the bottom of the market unable to buy into it.

Then the market prices lead to customers leasing keeping demand higher than it should be.

Cars are much more expensive than they once were and I don't think they depreciate as much as they used to either, especially not the desirable models.


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## robertdon777 (Nov 3, 2005)

Kerr said:


> The car market appears to be going the way of the housing market.
> 
> The rich people with too much control over the market keeping prices high, and those at the bottom of the market unable to buy into it.
> 
> ...


I thinks that's because they sell so few of the desirable ones now if truth be told. Why buy say a new 340i M-Sport when the 320d MSport looks the same and tbf is still rapid enough for this country.

Years ago when you purchased the top spec car everyone knew about it....a Ghia badge meant something...now every car has a badge.

I don't think cars have got much dearer, its just the choice of cars at say 30-50K has increased 10 fold. 20 years ago if you had big bucks to spend the choice was very limited.


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## m4rkymark (Aug 17, 2014)

Kerr said:


> Once leasing becomes too popular, what happens with all the used cars?
> 
> More people will be leasing new cars and the demand for used cars will dry up a bit surely? That's got to have a knock on effect on values too?


leasing will help drive legislation - cars will have a shorter shelf life.


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## Starbuck88 (Nov 12, 2013)

After seeing some the lease deals people are paying for in this thread...

I am very tempted to go that route. New car every 18 months...yes please.


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## robertdon777 (Nov 3, 2005)

Starbuck88 said:


> After seeing some the lease deals people are paying for in this thread...
> 
> I am very tempted to go that route. New car every 18 months...yes please.


Just be careful though because some require a big deposit to get the monthly payments down. Total that in with cost of ownership to give you a good idea what you'd be paying a month.

Best to pick some of the deals they have at random though...Like the Renault Megane RS265 Cup Chassis...so cheap on lease at the moment.

Just work out what you don't mind spending per month on a car including Tax/Loan/Deprication/Servicing etc etc and then see what you can get on a lease deal. Some work well others don't.


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## Bungleaio (Jul 18, 2010)

Those that like to buy outright generally tend not to buy new so long live these people wanting to PCP or lease new cars, the last time I checked no one is making second hand cars.


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## M400BHP (Feb 18, 2015)

I've never had finance on a car, some thing that would constantly worry me


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## Clancy (Jul 21, 2013)

Never had any vehicle on finance I always save up and buy them, although I've never had a new car, 5 years old is about the newest thing I've had 

Been very tempted, but having seen a few close people mess their personal finances up by getting new cars on finance it has put me off for the time being. Saving for house deposit is my priority, I'll enjoy my old bangers for a while longer


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## Zetec-al (Feb 28, 2011)

Just bought a Pre-registared 118d M sport so essentially a brand new car. 

£2200 deposit from PX
£283 a month x48
Opitional payment of around 7k 

No doubt i will upgrade the car before that time.

I work for a large dealership and it is very interesting to see some customers who are obviously have no stuggles with money and could quite easily pay outright but decide to finance a car. Not many people buy a car outright anymore it seems.


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## Kirkyworld (Jan 12, 2014)

Zero for me, I own all of my vehicles, none are amazng all are mine though :thumb:


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## O`Neil (Aug 13, 2007)

I`d rather save up the money and buy a car myself than get one on the knock and pretend I`ve bought a new car.


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## AdamC (Jan 31, 2013)

O`Neil said:


> I`d rather save up the money and buy a car myself than get one on the knock and pretend I`ve bought a new car.


I'm sure 99% people aren't pretending and will be more than happy to share the fact that they pay monthly.
For what it's worth my car was bought 2nd hand outright but I don't see a problem with leasing a car at all. If you can afford the monthly payment then you can afford the car, simple.


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## PaulN (Jan 17, 2008)

Starbuck88 said:


> LOL, I see you said elsewhere you pay £660 a month??


FFS thats a mortgage mate!!!!!!


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## robertdon777 (Nov 3, 2005)

PaulN said:


> FFS thats a mortgage mate!!!!!!


A £660 a month mortgage won't buy much...say if you are starting out in todays market getting one over 25 years.

My Nursery fees for the Kids come to about £500 a month.

Some cars are expensive which ever way you purchase them, outright or lease.

The easy statement to make is "i don't do finance - purchase outright"- sometimes this works sometimes not, its all about overall cost of ownership over the period of ownership.

I've just gone lease for the first time in 24 years of motoring after working out how much my last car (purchased outright) cost per month. The cost of actual ownership was much more than I had thought after working out everything including depreciation/servicing/fuel/tyres/repairs/insurance/tax..etc etc.


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## Bero (Mar 9, 2008)

I put down a huge deposit on mine....then it was £0 a year :lol:


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## robertdon777 (Nov 3, 2005)

Bero said:


> I put down a huge deposit on mine....then it was £0 a year :lol:


Get that in the PCP thread, sound like a good deal. I'd sign up for that on a C63 if you don't mind paying my deposit.


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## robertdon777 (Nov 3, 2005)

Oh and pay some towards the running costs.


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## Bero (Mar 9, 2008)

robertdon777 said:


> Get that in the PCP thread, sound like a good deal. I'd sign up for that on a C63 if you don't mind paying my deposit.


True! At the end of the term you _can_ hand it back, but i'll probably pay the optional final payment of £0 to keep it :lol:


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## PaulN (Jan 17, 2008)

robertdon777 said:


> A £660 a month mortgage won't buy much...say if you are starting out in todays market getting one over 25 years.
> 
> My Nursery fees for the Kids come to about £500 a month.
> 
> ...


I guess if someone pays £500+ a month to lease a car then monthly mortgage payments would also be overly high too.

I've got no problem with leasing, or with what anyone spends there money on, it hardly makes a difference to my life. Its just very different from the way my folks do things... They've never borrowed money for anything apart from a mortgage, they've just started using a credit card!!!

IMO its all about cash flow and handling debt the right way.

Anyway back on topic, something I'm not sure about say you put a £10k deposit, pay a monthly amount for 3 years and instead of paying off the final sum you hand back the car.... do you get your deposit back or is that eaten up through the 3 years?

Thanks

Paul


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## robertdon777 (Nov 3, 2005)

PaulN said:


> I guess if someone pays £500+ a month to lease a car then monthly mortgage payments would also be overly high too.
> 
> I've got no problem with leasing, or with what anyone spends there money on, it hardly makes a difference to my life. Its just very different from the way my folks do things... They've never borrowed money for anything apart from a mortgage, they've just started using a credit card!!!
> 
> ...


No deposit back, many of the deposits are to cover anyone failing to pay the finance after a couple of months, it covers the initial depreciation I suppose so the finance company doesn't lose out.

The Pug 208 GTi Prestige model was a mega example of buying vs lease....you would of been a mad man to buy outright, the depreciation alone would of been far far more than the lease offers of: No Deposit and 200 quid a month.

Certain deals they have are unbeatable, it must be from an over supply.

Obviously you cant compare lease vs second hand (buying outright) but some of the deals do get quite close when you work out overall ownership costs.


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