Soldato
Are Skoda and Nasher related?
If you've 'only' got £30k in the bank then spending it all on a car is never a good idea. If buying the car uses up all of your savings then you can't really afford the car in the first place.
Everyone should have that rainy day fund as a minimum. I'm aware many people don't.
OK fairy muff. I'm sure my first car was a lease and I had the option to buy, although it was through work at the time and was 15 years ago. I just thought it seemed strange that a company would auction a car rather than sell it to the person that's had it for the last 3 years. Does it work out cheaper than finance then?It's not odd at all it's exactly how it works. A lease is simply a long term hire car, nothing more.
People constantly confuse leasing with car finance. Just because you pay monthly for a car doesn't make it a lease.
Does it work out cheaper than finance then?
Yes, especially if you can catch someone just as they're about to return it to the dealer for peanuts. Or go to British Car Auctions.I haven't bought a car in years (only ever bought up front then keep for a long time). With the prevalence of leases these days, are there bargains to be had on 2-3-4 year old cars as they are returned?
This is probably where it returns to the phone 'comparison' .
... are modern cars, less over-engineered (remember GE lightbulb scam too, apple throttling etc) and relatively, more expensive to maintain/run as a 2nd hand proposition , versus new cars.
Manufactures and dealers, consprining to drip feed 2nd hand cars onto the market, extracting maximum profit throughout lifecycle.
Not sure most modern cars are much different to phones tbh lol. Just a big phones with wheels. All the money has gone in to the gimmicks rather than the engineering.
People lap it up though. Cars like the Juke (well, all crossovers) are awful things as cars, but the masses keep buying them.
As you say, lease these days is used to cover the three main types of secured car financing. For the OP/anyone not sure:
PCH = Personal Contract Hire or a "proper" lease - you'll pay monthly but have to give the car back and never own it.
PCP = Personal Contract Purchase - you'll pay monthly still, but will own at the end of the term, though usually after a big balloon payment (at which point lots of people give the car back to dealer to start a new PCP etc. etc.).
HP = Hire Purchase - you still pay monthly, but you pay off the entire cost over the hire period (so no balloon payment at the end, sometimes a nominal £1 option-to-purchase fee), and own at the end. This is usually what dealers give you when you purchase a used car on "finance".
With PCH and PCP, you will have annual mileage limits and have to pay more money if you go over them; with HP you won't.
General rule of thumb would have the ascending order of overall costs as: cash < personal loan (not secured against car) < PCP < HP < PCH. Sometimes the lease deals would bring down PCH to be around the same as a personal loan or even cash when you amortise all the payments, but very recently they haven't been. Plus at the end of a lease you have to look for another car and may have to choose a car you don't like as much if there's a really good deal on it etc. So while it is convenient (and indeed nice) to have a new car every 2/3 years, it's actually somewhat inflexible unless you're happy to pay.
To OP, get cost options for all the above and work out the total cost of each option. Lower monthlies don't necessarily mean you're getting a better deal. At the time I bought my current car in 2019, I'd forgotten to get myself on the electoral register and I was being offered upwards of 9% on a personal loan, but ended up getting a HP deal at 5.9% (I was happy with the total cost - I was picky to the extreme about the spec of the car and there was usually only one or two in the country that had the particular options and equipment level I wanted, and yes that's silly to some when it's a Ford Focus) so that was cheaper for me at the time with a failing 11 year old Fiesta.
I'm going to go and make friends with some porsche staff.Not helped by the fact that all the Nissan 7000 staff st Sunderland get 5 codes per year for friends and family to get 20% off Jukes. Sometimes driving around up here, it feels like every third car is a Juke!
Not helped by the fact that all the Nissan 7000 staff st Sunderland get 5 codes per year for friends and family to get 20% off Jukes. Sometimes driving around up here, it feels like every third car is a Juke!
I've thought this sometimes when you see how [some] cars get marketed these days. The adverts are full of stuff like voice control, Apple/Android integration, onboard Wifi, touchscreens etc. Very little about the car underneath. Maybe something playing on the funky design.Not sure most modern cars are much different to phones tbh lol. Just a big phones with wheels. All the money has gone in to the gimmicks rather than the engineering.
People lap it up though. Cars like the Juke (well, all crossovers) are awful things as cars, but the masses keep buying them.
I think most cars past a maturity curve a long time ago that for the masses, they're all pretty good. People also spend most of their time inside the car, so of course infotainment is a huge priority compared to whether it has Macpherson front struts and a whopping 105hp through a 3 cylinder turbo...I've thought this sometimes when you see how [some] cars get marketed these days. The adverts are full of stuff like voice control, Apple/Android integration, onboard Wifi, touchscreens etc. Very little about the car underneath. Maybe something playing on the funky design.
I guess it's partly because those things are easier to quickly highlight in an understandable fashion to the masses, it's difficult to cover the mechanical stuff in 20s and keep engaging the average punter.