Fabia VRS on personal hire

Abyss

Abyss

Abyss

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Does anyone have any thoughts on the below:

3 year personal hire
10k miles per year
Skoda Fabia 1.4 TSi 16v (177bhp) vRS Hatchback 5dr 1390cc Petrol DSG Automatic
(Brand New)

Upfront - £685.83
Per month - 228.61

Seems to ba very fair price given that tax is included. Works out to just over £8k over 3 years.
 
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lol, maths fail. Personal hire, so is there an option to buy it at the end? If so what is it?

£9k to drive someone elses car for 3 years, I never get that personally.
 
Abyss said:
Does anyone have any thoughts on the below:

3 year personal hire
10k miles
Skoda Fabia 1.4 TSi 16v (177bhp) vRS Hatchback 5dr 1390cc Petrol DSG Automatic
(Brand New)

Upfront - £685.83
Per month - 228.61

Seems to ba very fair price given that tax is included. Works out to just over £6k over 3 years.
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It's not a great deal to be honest. Drive the deal were doing these for 13k brand new. You're paying nearly £9k to borrow it for three years.

The est. retained value is 42%, which means if you buy it outright it should work out a lot cheaper over the 3 years.

BTW, tax is only £130 a year, so its not that great a "freebie"!
 
Seems to ba very fair price given that tax is included
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Not singling you out specifically OP as this is a common occurence, but why does everyone who buys a new car ATM keep banging on about 'it'll save me on tax!!!"2111112!'.

Even at the £460 tax bracket it's less than £40 a month. You are spending hundreds to save pence? This thing is just over £11 a month. Hardly a massive saving.
 
If your happy to spend that amount per month doesn't it make more sense to get a loan and buy a reasonable car outright? maybe paying over a little more time like 4-5 years.
 
Thanks everyone.

I have also been looking at taking out a longer term loan on the basis that what is owed on the loan will be significantly less than the car is worth in 3 years time. This also allows me to buy a 1-2 year old car which I would prefer to do.

Spunkey said:
Not singling you out specifically OP as this is a common occurence, but why does everyone who buys a new car ATM keep banging on about 'it'll save me on tax!!!"2111112!'.

Even at the £460 tax bracket it's less than £40 a month. You are spending hundreds to save pence? This thing is just over £11 a month. Hardly a massive saving.
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This wasn't what I meant, I was just highlighting that tax is included in the cost. Also my current road tax is 9% of the contract hire price of the Fabia! The reason for the change is it will save me £100 a month in running costs which I can spend on something newer and different. I am most certainly looking at the whole life cost. The Fabia for example will cost me about £5k over 3 years with my current car selling for at least £7k.
 
Unlight said:
It's not a great deal to be honest. Drive the deal were doing these for 13k brand new. You're paying nearly £9k to borrow it for three years.

The est. retained value is 42%, which means if you buy it outright it should work out a lot cheaper over the 3 years.

BTW, tax is only £130 a year, so its not that great a "freebie"!
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Thanks. Where can I find the £13k deal? The numbers actually work out quite well on paper.
 
It is a terribly ugly car anyway so regardless of the maths, you should not do this.
 
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[TW]Fox;19179585 said:
How can you fail this hard at the maths involved here?

£685 up front.

3 years of £228 a month.

Thats £8893 not £5k?
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No need to be so confrontational Fox. The cost is compared to keeping the car I have now as this is primarily what I am interested in.

Fabia VRS
Costs 685.83 8001.35
MPG saving 900
Tax saving 735
Insurance saving 1092
Warranty saving 1200

Total 4760.18
 
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That is not the cost, it is simply additional cost over and above what you already pay.

It's a hire car, this is rarely ever the most cost effective way to drive a car.
 
[TW]Fox;19179819 said:
That is not the cost, it is simply additional cost over and above what you already pay.

It's a hire car, this is rarely ever the most cost effective way to drive a car.
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Correct, however I was stating what it will cost me. Given that my partner currently pays the running costs and is happy to pay the same amount over a year it will cost me £5k.
 
Yes but you need to look at the bigger picture here. You're paying £9K to drive a car for 3 years that you could buy outright for £13K.

Is it not worth that extra £4K to have ownership of the car? That way, at the end, you have an asset that you can then sell if you wish, and i'd bet you'd get more than £4K for a 3 year old vRS.

Profit! :)
 
Abyss said:
Correct, however I was stating what it will cost me. Given that my partner currently pays the running costs and is happy to pay the same amount over a year it will cost me £5k.
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But then presumably you'd get the same 'discount' on the cost of any car you'd choose to run - including buying your own Skoda rather than renting one.
 
Skoda are notoriously good at discounting new, so you would likely (given good banter & hagling skills) get extras thrown in and a decent amount knocked off the list price.

Save up!
 
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