Topic: What Car Do You Own/Drive?

[The G in Gerrard]

Always owned my car.

Same. Normally brand new.

[Nobby Reserve]

Is that a personal lease? I've never leased a car. Is that a good option?

Personal lease.

I get a monthly allowance from work (they moved away from company cars about 10 years ago)

I'll be honest and say I couldn't afford to actually buy outright a nice car. Also, if you buy you have to absorb the depreciation. As well as any interest payments on the amount I'd need to borrow because I don't have 35 grand lying about.

Get the lease deal right, and you'll be in the right column. I'll be paying about £16.5k over 4 years. That's about what the car would depreciate by in that 4 years. And I've not had to take out a loan and pay interest on that.

[killer-heels]

Do any of you with these posh cars actually own them (not lease/hire-purchase etc)?

Always owned my car.

Would you include PCP finance in the 'not lease/hire purchase'?

[Nobby Reserve]

To add, I don't get the snobbishness about leasing cars. You wouldn't take a pithy attitude toward someone renting a house (and renting a house makes far less financial sense, as a house is almost always an appreciating asset that the owner is getting a financial advantage from)

[Sudden Death Draft Loser]

Would you include PCP finance in the 'not lease/hire purchase'?

I've no idea what PCP finance is.

[killer-heels]

To add, I don't get the snobbishness about leasing cars. You wouldn't take a pithy attitude toward someone renting a house (and renting a house makes far less financial sense, as a house is almost always an appreciating asset that the owner is getting a financial advantage from)

Absolutely. I have owned a brand new car via a loan that i have paid back over 3 years, have paid for a 2nd hand, newish car with cash, I have had a PCP scheme and I have leased a car.

All of them have their benefits and depends on a lot of factors, in terms of the actual car, age, resale value, situation etc. I think its completely silly to pay cash for example for a brand new car, but do think its sensible for a nearly new/2nd hand car. But even then it depends on the car and the amount that particular car holds its value and depreciates.

PCP and leasing have their benefits as well completely, especially for new cars. But then it depends on APR and stuff as to what is the best financial decision.

[The G in Gerrard]

Personal lease.

I get a monthly allowance from work (they moved away from company cars about 10 years ago)

I'll be honest and say I couldn't afford to actually buy outright a nice car. Also, if you buy you have to absorb the depreciation. As well as any interest payments on the amount I'd need to borrow because I don't have 35 grand lying about.

Get the lease deal right, and you'll be in the right column. I'll be paying about £16.5k over 4 years. That's about what the car would depreciate by in that 4 years. And I've not had to take out a loan and pay interest on that.

Oh okay.

I assume it's the same criteria as a loan in terms of being accepted for such deals?

Wouldn't know where to even begin or look at such places for finding good deals.

[The G in Gerrard]

To add, I don't get the snobbishness about leasing cars. You wouldn't take a pithy attitude toward someone renting a house (and renting a house makes far less financial sense, as a house is almost always an appreciating asset that the owner is getting a financial advantage from)

Hopefully that's not aimed at me I genuinely don't know anything about leasing cars.

[Graeme]

Oh okay.

I assume it's the same criteria as a loan in terms of being accepted for such deals?

Wouldn't know where to even begin or look at such places for finding good deals.

LeaseLoco is pretty decent. It’s a comparison site for car leasing basically.

[The G in Gerrard]

LeaseLoco is pretty decent. It’s a comparison site for car leasing basically.

Ah sound. Seems like a deposit & initial upfront payment is required depending on mileage?

[Graeme]

No you can have zero upfront payment if you wish, just pushes the monthly amount up.

[TheKid.]

The kind of cars you can afford via a lease is so much better than buying or even PCP

[The G in Gerrard]

No you can have zero upfront payment if you wish, just pushes the monthly amount up.

Oh I couldn't tell on that site it was an option.

Guess if you could get a nice BMW, Audi or something it's worth it.

[Mumm-Ra]

It's clearly a shitty thing to do, but it's not as if car manufacturers are afraid of ripping their customers off. Having said that. Why do you need remote starting unless you're a bank robber and your getaway driver has called in sick?

I don't have it because my cars are ancient and housed in a garage, but it's very useful in cold climates if you have to park outside, to warm the car up before you get in

[.adam]

My wife and I previously owned our cars (last one was a Mini Paceman) and always bought second-hand.

This one is a lease through her work. She gets a car allowance and we pay a top-up to get a higher tier car than she's entitled to but thought it was worth it given the reduction in fuel costs.

Her work take care of the insurance and maintenance too.

[[new username under construction]]

Even people who run the showrooms will tell you not to buy a car! One guy at Mercedes said never to buy a car and every single expensive cars they move are through lease

I've leased my last two and would never go back to buying or PCP

I've seen Electric leases for like £150 a month, plus very lost "fuel" cost......My Kona charges for £6 to full and not even on a low cost tariff

[Nobby Reserve]

The kind of cars you can afford via a lease is so much better than buying or even PCP

Like I said, there's very few great deals about - especially for more pricey brands like MB, BMW, Audi, Jaguar. It's been like this for about a year. The odd one comes through (there was a widely available offer on an a couple of Audi A6 TFSI models, but these fizzled out before Xmas) but mostly lease prices for these sort of cars sit £50-£100/month more than they did 2 year ago, and the super-deals just aren't appearing.

[stewil007]

Like I said, there's very few great deals about - especially for more pricey brands like MB, BMW, Audi, Jaguar. It's been like this for about a year. The odd one comes through (there was a widely available offer on an a couple of Audi A6 TFSI models, but these fizzled out before Xmas) but mostly lease prices for these sort of cars sit £50-£100/month more than they did 2 year ago, and the super-deals just aren't appearing.

 i was on car allowance at work but due to the miles i do (usually 20k minimum) i couldn't find any lease deals that i could cover that gave me a decent spec car.  The only option would be a Dacia or a small car.

[Nobby Reserve]

i was on car allowance at work but due to the miles i do (usually 20k minimum) i couldn't find any lease deals that i could cover that gave me a decent spec car.  The only option would be a Dacia or a small car.

I'm similarly on a car allowance, and accept that if I want a particular car, I will have to put some of my own money to.

[ianburns252]

To add, I don't get the snobbishness about leasing cars. You wouldn't take a pithy attitude toward someone renting a house (and renting a house makes far less financial sense, as a house is almost always an appreciating asset that the owner is getting a financial advantage from)

Think the snobbishness comes about because with renting a flat/house that is a necessity if you are a lower earner, have poor credit, are simply young and so haven't got the deposit lined up yet. Also you need a house/flat so it is a necessity.

Leasing cars tends to be seen as what people who want to look super rich/flash but can't afford to do so would do. A decent 2nd hand car (Honda Civic for example) can be picked up for about £1,500 and from experience it will costs sod all to insure and run and being a Honda will take a truck running over it to get it off the road. Leasing a medium to high end car is a personal choice but isn't a necessity.

Also, people don't tend to fully understand what the lease agreements involve so don't realise that in some cases there are savings to be made due to it bundling servicing etc into the central cost.

So yeah, it is the perception of need vs want

[The G in Gerrard]

Apologies if a dumb question but does having a lease car have car insurance for that vehicle included?

[Graeme]

No you normally insure yourself

[The G in Gerrard]

Being a lease car doesn't increase insurance for any reason than owning the vehicle would it?

[CraigDS]

Being a lease car doesn't increase insurance for any reason than owning the vehicle would it?

Nah

[rob1966]

Nah

Its should though as most are driven by twats

[nuts100]

[quote author =Sudden Death Draft Loser link=topic=80346.msg18111910#msg18111910 date=1641488876]
Do any of you with these posh cars actually own them (not lease/hire-purchase etc)?

Always owned my car.
[/quote]

I own the RS5
But it’s dead money. Most rich people lease, business men etc as they can write off tax etc.
Plus rich people make their money work for them. Most footballers have proper financial advisers and they would say, do not pay cash or buy outright
Whereas someone like me who like most on here work hard and got lucky along the way don’t manage money well 

[tubby]

This is really interesting stuff to read, I'm looking to get a car (my first for around 10 years) in the next month or two and I'm trying to work out the best option.  Have a budget of around £7k and just need a little 1.2l hatchback or similar.  Ideally want something with less than 20k on the clock and fairly newish, so I've been looking at buying as there's some decent options there, but this leasing talk has made me reconsider.

[Sudden Death Draft Loser]

I own the RS5
But it’s dead money.

Not really in my case.

Never spent more than about £700 on a car.

No need to, nearly every car I've owned has been reliable. After all it's only a car, as long as it gets you where you want it's done it's job.

[ianburns252]

Not really in my case.

Never spent more than about £700 on a car.

No need to, nearly every car I've owned has been reliable. After all it's only a car, as long as it gets you where you want it's done it's job.

This!

Slightly higher budget that you but the principle remains - spend about £1k-£1.5k and I've only had to swap cars before due to getting rear ended in one instance and some tit driving into the side of my car whilst it was stationary, parked up at the station and I was sat in the damn thing (the tit managed to get almost every panel along one side of the car and do some structural damage which was a real pain in the arse as that car was a dream!).

If you buy well then cars can be properly cheap and don't need massive amounts of maintenance.

[Graeme]

Car leasing always seems to provoke a lot of debate. I’m about to lease for the first time. Historically, I’ve always taken out loans of £8,000 to £10,000 over 4 years or so and bought a 2-3 year old car then starting over when the loan is repaid. So once they’re 3 years old I’m paying for MOT’s, repairs when they have issues etc. For not that more money than my normal loan repayments I’m going to be getting a brand new car, always under warranty and nicer than I could afford to buy.

[The G in Gerrard]

Car leasing always seems to provoke a lot of debate. I’m about to lease for the first time. Historically, I’ve always taken out loans of £8,000 to £10,000 over 4 years or so and bought a 2-3 year old car then starting over when the loan is repaid. So once they’re 3 years old I’m paying for MOT’s, repairs when they have issues etc. For not that more money than my normal loan repayments I’m going to be getting a brand new car, always under warranty and nicer than I could afford to buy.

You know what you're getting?

[nuts100]

Car leasing always seems to provoke a lot of debate. I’m about to lease for the first time. Historically, I’ve always taken out loans of £8,000 to £10,000 over 4 years or so and bought a 2-3 year old car then starting over when the loan is repaid. So once they’re 3 years old I’m paying for MOT’s, repairs when they have issues etc. For not that more money than my normal loan repayments I’m going to be getting a brand new car, always under warranty and nicer than I could afford to buy.

Just traded my daughters car 5 year old with 58k miles. Had a lot of equity in it and used that for a brand new one with same payment on a lease. I’m always changing cars.

The lease over here is great as it also does gap etc so insurance companies like lease as they know the car is taken care of it in a wreck. They don’t have to worry.

Works out at 2.9% apr and Althea threw in 4 year servicing

[rob1966]

This!

Slightly higher budget that you but the principle remains - spend about £1k-£1.5k and I've only had to swap cars before due to getting rear ended in one instance and some tit driving into the side of my car whilst it was stationary, parked up at the station and I was sat in the damn thing (the tit managed to get almost every panel along one side of the car and do some structural damage which was a real pain in the arse as that car was a dream!).

If you buy well then cars can be properly cheap and don't need massive amounts of maintenance.

In my life I have owned 6 cars and the most expensive was the X type at £6300, total spend is under £10k.

I have zero interest in having £40k worth of car depreciating on the drive, nor spending a few grand a year to have a shiny new car sat on the drive/in the office car park for 23 hours a day

[Nobby Reserve]

In my life I have owned 6 cars and the most expensive was the X type at £6300, total spend is under £10k.

I have zero interest in having £40k worth of car depreciating on the drive, nor spending a few grand a year to have a shiny new car sat on the drive/in the office car park for 23 hours a day

I've bought used cars before, and have about about a 75% record of them being absolute lemons that needed serious work within 2 years.

[ianburns252]

I've bought used cars before, and have about about a 75% record of them being absolute lemons that needed serious work within 2 years.

Depends on a multitude of factors, and maybe a bit of luck, but I have found Hondas to be spot on every time without fail.

Generally aim for ones that have done fewer than 10k miles per year and with no more than two owners and that has done the job.

[Riquende]

Depends on a multitude of factors, and maybe a bit of luck, but I have found Hondas to be spot on every time without fail.

But what if some young hoodlum steals the H? How will people know it's a Honda if someone steals the H?

[TheKid.]

Like I said, there's very few great deals about - especially for more pricey brands like MB, BMW, Audi, Jaguar. It's been like this for about a year. The odd one comes through (there was a widely available offer on an a couple of Audi A6 TFSI models, but these fizzled out before Xmas) but mostly lease prices for these sort of cars sit £50-£100/month more than they did 2 year ago, and the super-deals just aren't appearing.

Agree. I often check up ready for the next car and the deals of a few years ago aren’t about.

I had my first Audi A4 5 years ago for £165 a month. Then went to a black edition of the same car for £200 a month.

Currently got an A5 sportback in my missus name (for the NHS discount) which I pay £200 a month for too

But there’s fuck all good deals about at the moment

[ianburns252]

But what if some young hoodlum steals the H? How will people know it's a Honda if someone steals the H?

Well surely my Honda baseball cap, Honda driving gloves, and Honda driving sock will let people know what I'm driving?

I think this shows us all just how amazing Honda is...

https://www.youtube.com/watch?v=x65yvRtSejs

[Nobby Reserve]

Agree. I often check up ready for the next car and the deals of a few years ago aren’t about.

I had my first Audi A4 5 years ago for £165 a month. Then went to a black edition of the same car for £200 a month.

Currently got an A5 sportback in my missus name (for the NHS discount) which I pay £200 a month for too

But there’s fuck all good deals about at the moment

There was a period of about 6-9 months when there were some crazy deals on some Audis. I was really tempted, but had to wait for my previous lease to run out and, by that time, the deals had subsided. I stumbled on my current E220d for £320 (higher than I'd wanted) but it was such a good deal, and I've absolutely loved it. I still smile sometimes just getting in and driving it - and that's after almost 3 and half years!

[TepidT2O]

Oddly, the chip shortage means that nearly new cars are currently more expensive than new cars….

Which is weird.