So, who has a car on finance/PCP/PHP/PHC/whatever!

[TW]Fox;21809845 said:
If you only do 6k miles a year is it really worth spending a pile of cash to lease a small hatch?
Click to expand...
Fox brings the sense once again.

I'm sorry but £240/month to drive 500 miles in a style over substance Citroen is downright retarded.
 
Sorry missed all the replies saying "LOL, you can't transfer balance to bank account" - They're 100% wrong.

I did exactly that, just not for the full £10,000 limit.

The one I went for was Virgin. The minimum repayment's something like 2% a month.

There's more info on moneysavingexpert.com

EDIT: Sorry, just seen OlyM's post - yeah, it's a Bank Transfer and the Virgin card is an MBNA
 
garnett said:
Sorry missed all the replies saying "LOL, you can't transfer balance to bank account" - They're 100% wrong.

I did exactly that, just not for the full £10,000 limit.

The one I went for was Virgin. The minimum repayment's something like 2% a month.

There's more info on moneysavingexpert.com

EDIT: Sorry, just seen OlyM's post - yeah, it's a Bank Transfer and the Virgin card is an MBNA
Click to expand...

Nice one. :)

Can I ask, if for example, you inadvertently miss one of your monthly repayemts of 2%, do you then have to pay interest at the full commercial rate on the full amount?
 
A low interest loan is far better than any type of finance. The Moneysavingexpert website has all the info you need.
 
mike gunnz said:
Nice one. :)

Can I ask, if for example, you inadvertently miss one of your monthly repayemts of 2%, do you then have to pay interest at the full commercial rate on the full amount?
Click to expand...
Errrr. Hadn't actually considered that. >gulp< My answer would have to be, "I don't know"
 
FirebarUK said:
Does that figure really include full maintenance? How does Petrol come into the equation?
Click to expand...

It does include full maintenance. My brother has had one from the same company, he's had wheels, alloys, springs replaced all for £0.

I was thinking about the savings I would make on moving from my Fiesta (35 mpg petrol) to the DS3 (65+ mpg diesel)

Also to the person about the 6000 mileage, this isn't enough. It was just a quick quote I got.
 
I'd rather finance the depreciation in a car, rather than taking a loan out for the whole amount and having a massive wedge of cash stuck in a car you then have to shift when you get bored of it.

Finance is actually a great way of owning a car as long as you go into it with your eyes wide open and have a basic grasp of the fact cars are just a money pit (especially good ones) that cost you a lot of money on the upkeep.

So yeah - My M3 is on BMW PCP.
 
mike gunnz said:
Can I ask, if for example, you inadvertently miss one of your monthly repayemts of 2%, do you then have to pay interest at the full commercial rate on the full amount?
Click to expand...

Yes you do, but you should never miss payments - set up a direct debit!
 
My current car is leased, a Mercedes SLK 250 cdi for £318 p/m for 15k p/a. I wouldn't buy one but I actually really like it and I'm happy with what I'm paying.
 
joemc said:
It does include full maintenance. My brother has had one from the same company, he's had wheels, alloys, springs replaced all for £0.
Click to expand...

You appear to be confusing a warranty with a maintained lease.

Those things were covered by warranty.

A maintained lease pays for servicing and tyres - its very unlikey you've been quoted for one of those. Also, getting a quote for a 6k PA lease when you do more is a waste of your time because mileage is the second most important factor on leasing costs after the model of car itself. Your figure is therefore utterly meaningless and will climb with more mileage added.
 
Question, on a lease car, are you allowed to modify it? I.e. say simple things like new alloys or more complicated things like engine mapping. Or do you have to return it the same spec as when you took the keys?
 
Return it as you found it unless given express permission.

Not that it stops some people, to be fair these cars aee assessed for damage then shipped straight off to auction anyway
 
Raymond Lin said:
Question, on a lease car, are you allowed to modify it? I.e. say simple things like new alloys or more complicated things like engine mapping. Or do you have to return it the same spec as when you took the keys?
Click to expand...

Same spec. Doesn't mean you can't change something and put it back though, although I am certainly not suggesting you do this since it does go against the terms of the contract.
 
[TW]Fox;21812960 said:
You appear to be confusing a warranty with a maintained lease.

Those things were covered by warranty.

A maintained lease pays for servicing and tyres - its very unlikey you've been quoted for one of those. Also, getting a quote for a 6k PA lease when you do more is a waste of your time because mileage is the second most important factor on leasing costs after the model of car itself. Your figure is therefore utterly meaningless and will climb with more mileage added.
Click to expand...

Precisely what I was getting at.
 
[TW]Fox;21812960 said:
You appear to be confusing a warranty with a maintained lease.

Those things were covered by warranty.

A maintained lease pays for servicing and tyres - its very unlikey you've been quoted for one of those. Also, getting a quote for a 6k PA lease when you do more is a waste of your time because mileage is the second most important factor on leasing costs after the model of car itself. Your figure is therefore utterly meaningless and will climb with more mileage added.
Click to expand...

Right okay fair enough. Well this is why I've also asked if people could suggest any other sites :)

I've just had a good quote I think anyway! 10k a year, £161 + £28 a month for maintenance, in the colour I actually want on a 2 year contract.
 
mike gunnz said:
Can I ask, if for example, you inadvertently miss one of your monthly repayemts of 2%, do you then have to pay interest at the full commercial rate on the full amount?
Click to expand...

The fact you're even asking that question is worrying!! Expect a post in 6 months time bitching about "evil banks" withdrawing their offer as a payment is missed ;)
 
You must log in or register to reply here.
Back
Top Bottom