To buy a Cheap Corsa, or go for a lease?

4T5 · 20 Mar 2012 at 13:20

I wouldn't want to be tied to a 3 year deal at your age especially seeings you are trying to join up.
I would take advantage of the sweet position you are currently in to buy something cheap to build up your no claims with.

aaron · 20 Mar 2012 at 13:22

rossk26 said:
If you are unstable with your job commitments I don't think signing up to a 3 year lease scheme is appropriate.

On the other hand you can just give the car back at any time through the NHS lease scheme, so this could work in your favour.

Its not an issue as such because although yes it would be a massive PITA if i were to lose my job or something, i have my family to cover me in the mean time until i get back on my feet which they have agreed to do, in which case ill pay them off once im up and running again.

4T5 said:
I wouldn't want to be tied to a 3 year deal at your age especially seeings you are trying to join up.
I would take advantage of the sweet position you are currently in to buy something cheap to build up your no claims with.

The idea of a three year deal is daunting but as mentioned above im covered should the worse happen, also ive double checked with the leasing agency and NHS that i get my no claims and they have confirmed this (although as mentioned previously they might of got this wrong and only meant a written document stating "no accidents in x ammount of time" which fingers crossed it isnt).

Tbh though no claims dosnt seem such a big issue as even if i dont get my no claims bonus at the end of the lease ill be 21 so the price should be at least a bit more affordable than now.

In regards to joining up it wont be for a while yet as i need to get fit first

hehe, and even then i should be based in the UK at least for another year or two on top. Also my Mum and step Dad will be named drivers so if it is necessary I can leave my car at home and they can drive it. I dont begrudge doing this and paying for it as they have done a lot for me in the past

.

BigT · 20 Mar 2012 at 13:29

I don't ordinarily like leasing, and I think a new driver should get a cheap car with which to make mistakes (which you will - we all did). But that lease with insurance included is a very good price indeed and there's a lot to be said for hassle free fixed price motoring.

rossk26 · 20 Mar 2012 at 13:36

aaron said:
The idea of a three year deal is daunting but as mentioned above im covered should the worse happen, also ive double checked with the leasing agency and NHS that i get my no claims and they have confirmed this (although as mentioned previously they might of got this wrong and only meant a written document stating "no accidents in x ammount of time" which fingers crossed it isnt).

I'd get that in writing that they will provide you with a NCB certificate after the lease scheme is over

aaron said:
Tbh though no claims dosnt seem such a big issue as even if i dont get my no claims bonus at the end of the lease ill be 21 so the price should be at least a bit more affordable than now.

I would run a quote saying you are 3 years older and have 3 years NCB, and see how much that £1.8k quote will drop, you will be surprised. Here is my breakdown when I first got my first car 5 years ago (and prices have rocketed since)...
Year 1 = £1,300
Year 2 = £750
Year 3 = £430
Year 4 = £330

Malc · 20 Mar 2012 at 13:39

Disco Boy said:
£400 for three years of tyres on a corsa(or similar)? £1500 of repairs on a £1500 car?

lollety!

I thought this was an advice thread. Where's yours?

My mate ran a £1200 S reg Focus for 2 years, come service an MOT time, he had two bills of around £450 each. £1500 is a scaled up over estimate, which is what you do when thinking cars.

It's about £60-£70 a corner for tyres on a Corsa. I reckon 30,000 miles will see one set of backs and 2 sets of fronts.

aaron · 20 Mar 2012 at 13:44

rossk26 said:
I'd get that in writing that they will provide you with a NCB certificate after the lease scheme is over

I would run a quote saying you are 3 years older and have 3 years NCB, and see how much that £1.8k quote will drop, you will be surprised. Here is my breakdown when I first got my first car 5 years ago (and prices have rocketed since)...
Year 1 = £1,300
Year 2 = £750
Year 3 = £430
Year 4 = £330

Just tried getting a quote, the cheapest that i managed to get putting down that i was 21 and with 3 years no claims was £657 so still fairly expensive.

Malc said:
I thought this was an advice thread. Where's yours?

My mate ran a £1200 S reg Focus for 2 years, come service an MOT time, he had two bills of around £450 each. £1500 is a scaled up over estimate, which is what you do when thinking cars.

It's about £60-£70 a corner for tyres on a Corsa. I reckon 30,000 miles will see one set of backs and 2 sets of fronts.

Also just like you Malc when i worked out all my expenses ive overbudgeted on every aspect including food, phone contract etc by quite a large degree and it still seems to come out fine. So just like with everything else ill overbudget on expenses such as repairs etc and put money away each month just to be safe.

rossk26 · 20 Mar 2012 at 13:52

aaron said:
Just tried getting a quote, the cheapest that i managed to get putting down that i was 21 and with 3 yearts no claims was £657 so still fairly expensive.

How much would it be if you were 21 and 0 NCB?

The difference will have to be added to the lease car scheme idea. As by buying the 2nd hand car and paying for insurance, this is a future saving you will make and continue to make for the next few years.

aaron · 20 Mar 2012 at 13:57

rossk26 said:
How much would it be if you were 21 and 0 NCB?

The difference will have to be added to the lease car scheme idea. As by buying the 2nd hand car and paying for insurance, this is a future saving you will make and continue to make for the next few years.

Cheapest i could get with me being 21 and no no claims is £832 so not a massive difference overall.

rossk26 · 20 Mar 2012 at 14:08

No that's probably not noteworthy savings. Would probably be another £100 the next year and would soon level out as you get older.

£1500 second hand car is still £1,500 cheaper over the lease car scheme and that is with £1,500 spare in case of any untoward bills, which I wouldn't be surprised if you were to get away with just the odd bill here and there. So the second hand car could potentially be £3k cheaper over 3 years. Something to consider...

Tinders · 20 Mar 2012 at 14:10

aaron said:
on the other hand I could have a nice brand new car (possibly/proabably the only oppertunity ill have in my life to do this with the way things are going).

Cheers for taking the time.

Whilst its not a bad deal, have you really no hope for the future, surely you must feel that you will have chances in the future to have a properly nice car?

Having a new car isnt all that, especially a Citroen, the novelty wears of pretty quickly!

BennyC · 20 Mar 2012 at 14:14

OllyM said:
I thought you had a 330d or am I thinking of somebody else?

I did have, short lived for a number of reasons mostly due to preferring to have a bit more money behind me having just got on the property ladder. I also no longer do the miles to warrant it anymore either.

aaron · 20 Mar 2012 at 14:18

Tinders said:
Whilst its not a bad deal, have you really no hope for the future, surely you must feel that you will have chances in the future to have a properly nice car?

Having a new car isnt all that, especially a Citroen, the novelty wears of pretty quickly!

Certainly not any time soon if im honest, After the lease runs out i probably will just get a cheap corsa or something. It would just be nice to experiance a 1.6 brand new car while i can if im honest. I wouldnt consider lease whatsoever if it wasnt for this NHS offer coming up. I wouldve been quite happy with the corsa to get me from A to B but now that i have the oppertunity to get this for "relatively" cheap its got me in two minds about it.

On the one hand having a brand new citroen as my first car would be awesome, especially as it looks nice and by all accounts is a pretty good car, on the other it is more expensive than say a Corsa...though not massively so, so i shouldnt have any trouble paying for it so might be worth it for the increased cost.

Gib_Gib · 20 Mar 2012 at 14:31

It seems a great deal to me for a 19 yo.

But it depends on joining up, it could get a real hassle in 12 months if you are stuck with it then. Are there shorter schemes for similar money through work?

Jay794 · 20 Mar 2012 at 14:34

The new Corsa's are a lot safer than the old ones at least, weren't the older Corsas made from paper mache? or am I getting confused with Saxo's?

aaron · 20 Mar 2012 at 14:41

Gib_Gib said:
It seems a great deal to me for a 19 yo.

But it depends on joining up, it could get a real hassle in 12 months if you are stuck with it then. Are there shorter schemes for similar money through work?

No unfortunately but yeah thats one of the major considerations, but as stated before ill most likely spend at least the next two if not 3 years in the UK, and if required my parents can just use it for shopping trips etc if im out the country which i dont mind.

NickXX · 20 Mar 2012 at 14:47

At your age, I'd go for the work scheme.

I did something similar when I was 21 - £222/month for a Golf which included breakdown cover/tyres/tax/insurance/servicing, etc. Insurance alone would have cost me well over £1k on the same car.

rossk26 · 20 Mar 2012 at 14:49

Get quotes for some other cars.

Looking on the website the 1.2 polo can be had for around £200 per month, my guess is it would be a nicer place to be than the Citroen. And £30 cheaper p/m (depending on your circumstances).

And £360 a year is a lot of savings, when the car is by no means any worse at all...

aaron · 20 Mar 2012 at 14:51

NickXX said:
At your age, I'd go for the work scheme.

I did something similar when I was 21 - £222/month for a Golf which included breakdown cover/tyres/tax/insurance/servicing, etc. Insurance alone would have cost me well over £1k on the same car.

Were you pleased with it overall then if you dont mind me asking?

certainly seems like a good option at the moment but as others have said there is a lot to consider before i make the jump.

rossk26 said:
Get quotes for some other cars.

Looking on the website the 1.2 polo can be had for around £200 per month, my guess is it would be a nicer place to be than the Citroen. And £30 cheaper p/m (depending on your circumstances).

And £360 a year is a lot of savings, when the car is by no means any worse at all...

I was thinking more of the engine size (1.6 for the DS3, 1.2 I beleive for the polo. Havnt got the papers on me at work so cant check) And also the fact i love the look of the DS3.

If it was a personal choice what what would you guys go for as cost isnt really an issue?

Imy · 20 Mar 2012 at 14:59

Well what are the options on the deal? Can you choose any car you want?

rossk26 · 20 Mar 2012 at 15:00

The 1.6 isn't going to set your world on fire! And i'm sure you will still have plenty of fun in the Polo.

There is also a Seat Ibiza 1.2 TSI FR, very sporty and quite nippy for a little car.

If it was me, I would be getting the cheapest car I could get, that I could live with on a daily basis. I had considered this route when I worked for the NHS, so I could have a mental 2nd car, and have a cheap lease car to get me around. But it wasn't worth it as back then I was on pennies! Now I work for a GP surgery and not paid through the NHS so unable to get on the scheme.

Saying that I don't think I would, as the savings are not to be had for myself. Having built up NCB my insurance is relatively cheap, and I like to be able to tinker with my motors