Please tell me about your car costs

[Superhansrantowindsor]

Hi
I need a new car. Can you please tell me what deposit you paid for your car and the monthly repayments if you have a fairly bog standard medium sized car. Doesn’t need to be exact - I’m just wanting a ball park figure to see if I can afford new on a lease/pcp deal or whether I should just get another old banger purchased outright.

I paid 8300 straight up. I would buy something straight out if you can do it.

£230 per month for a 2 year old Ford Focus, just a months payment for deposit. Feel fine paying that, don't notice it going out the bank its just another bill.

I would get on auto trader to see what costs are, really depends on so many things!
I am buying a second hand EV soon, as I have solar and my current car is costing me so much in petrol and repairs. I think I’ll get about £2k for my car, a power port will cost me about £1k and a 4 year £9k loan will cost me just under £200 a month. So I’m looking at spending £10k on a car which I want to last about 5 years. I’m looking at a Nissan Leaf because it seems pretty reliable, and I can get a 2022 model with about 20k miles in that budget.

ive looked at PCP and they are expensive for in my opinion, you seem to pay 50% of the car cost over 4-5 years and then you are either starting again or finding the other 50% to pay, surely better to buy second hand and own outright?

Thanks. All of these comments are very helpful.

I did 30% deposit on £11k car, paid back over 5 years, at £190 pm.

Would have preferred to buy outright but didn’t have the funds at the time, only a few months left until it’s paid off and can’t wait to use that money for something more productive 😊

There is also the option of an ordinary bank loan which would mean the car is yours and you don't need to make a balloon payment to keep it or be stuck with monthly payments on an ongoing basis.