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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To ask how you afford your car??

60 replies

inmyshoos · 07/12/2017 18:33

I've always bought older cars outright. Never spending much more than 3k.
I really need a reliable car now because I travel up and down to see my parents once a month, on my own with 3 kids (around 200 miles.)

Is a pcp the way to go or just but the most expensive I can afford outright? I could afford to spend 3k or pay something up at max 200 a month.

Is an interest free credit card a better idea? Other than my mortgage I've never had debt so it's all new to me!! Help!

OP posts:

Mycarsmellsoflavender · 07/12/2017 20:23

We tend to buy our cars outright at a few years old and then keep them until they die. Works out cheaper in the long run. I'm not bothered about having a new car as long as it works and I don't want the stress of having to keep it in good condition in order to return it at the end of a PCP deal. Mostly we've bought from local dealers rather than private sales though, as I'm a bit wary of buying privately with no comeback if you discover a fault after purchase.

PavlovaPlease · 07/12/2017 20:31

Zero percent credit card. Still wish I'd bought a cheaper one though, but this should last years . I pay just over the minimum and also put some into savings so that I'll have 4K in 5 years time in case it needs replacing then.

londonrach · 07/12/2017 20:41

Skoda fabia 04 plate bought new for 6k love this car soooo much. Am considering bubble wrap at the moment. I have no interest in new cars with their silly electrics. Love a car with a real car feel!

Corcory · 07/12/2017 20:55

I bought a 3 yr old Renault Megane est. recently for £8,500 it had 15,000 on the clock and is still in warranty as Renault is 4 years. I got a bank loan for the £8,500 for £160 per month. No road tax as well. and excellent mileage.

A bank loan is so cheap at the moment and you can pay extra off when you have it. My last car I bought on a bank loan and paid it off 18mth early.

sailorcherries · 07/12/2017 21:11

I've had my past two cars on finance. I kept one for four years before trading it in for my current car. I have a Kia Ceed SR7 for £177 per month and, as long as I'm careful and touch up any little nicks it'll be traded in eventually.

I feel that leasing allows me to change my car to suit my family. The first lease was a Nissan Micra which suited myself and young DS, however when I fell pregnant with DS2 I needed a bigger car. In a few years I won't need as big a car but when they're teenagers I might need to go bigger again.

I may never own my car just now, or indeed for a long time, but it allows me the flexibility that I need just now.

Sunshinegirl82 · 07/12/2017 21:20

I have car on PCP and it works really well for me. It's not the cheapest way to have a car, that's a given. It is a way of having a new car for a fixed monthly cost and as its new your chances of a breakdown or big repair bill are much smaller.

I have no desire to own a car as I can't be doing with the depreciation and unexpected repair bills. I understand a lot of people prefer owning a car outright though and can see why.

I don't think there's a "right" answer as such, I think there are pros and cons to both ways of doing it.

Sunnydays365 · 07/12/2017 21:47

Personally pcp. I Change my car every 3 years, have no mot or repair bills .Pay 140£ for a i20 5 door. I never had any luck with 2nd hand cars EVER!! And got stung for expensive repairs,new clutches etc.

speakout · 07/12/2017 21:54

I always buy cheap cars.

My last car cost me £800 three years ago, running like a dream.

TealStar · 07/12/2017 22:01

Ours cost 10k five years ago and is still going strong. Used our mortgage drawdown to pay for it which as it’s on a tracker has probably added about £10 pcm onto the mortgage.

TealStar · 07/12/2017 22:03

*PS I am aware that we also had to pay it back, (which we did after about a year...)

BrawneLamia · 07/12/2017 22:08

We buy outright, older cars, reliable makes. We have been lucky so far, we sold our 13 year old car because it was too small, it was still running well. Plus I don't like the idea of being in debt (apart from the mortgage which is preferable to the insecurity of renting!).

Rooooooood · 07/12/2017 22:09

There is some good info on The Money Advice website on car leasing and the difference between PCP and PCH. You need to know the difference.

aintnothinbutagstring · 07/12/2017 22:14

I think theres a website called Bangernomics, it has a list of what they consider the most reliable used cars. DH has an 05 Avensis that I think he bought for £3k approx in 2014, and that car has done some miles as DH commutes no less than 50/60 miles a day recently 90 miles. Its built like a tank too, he was side swiped about 2yrs ago and the damage was minimal compared to the car that hit him.

DontMakeMeShushYou · 07/12/2017 22:21

I use my savings to buy outright. I need a pretty reliable car as I drive 80 miles a day on my commute, but that doesn't necessarily equate to new. I bought a 2nd hand car when DS was born for £6k and used it for 12 years, before selling it for a few hundred a couple of years ago. My latest car cost more (£10k) but assuming it also lasts me around 10 years, that's only £1k a year. Much less than leasing, especially as I have annual mileage of around 20,000.

Original poster

inmyshoos · 07/12/2017 23:18

Thanks for all the info everyone! Very helpful and food for thought.

The thing that appeals about lease or Pcp is having a reliable car that is hopefully less likely to break down and maybe less hassle.
The having to keep your car in tip top condition worries me. I'd definitely need decent car seat covers!!!

londonrach my current car is an 04 Skoda Fabian and it has been amazing. So economical. But it's getting quite rusty
And it has developed an intermittent flashing light issue! It's due an mot so maybe I will see how that goes and make a decision then.

OP posts:

safariboot · 07/12/2017 23:35

A new car is no guarantee of reliability. When some family including me got stranded on the side of the motorway it wasn't my 04-plate Suzuki we were in, it was a family member's 15-plate Audi. Make, mileage, and service history count for more than age I think. Most Japanese cars will be both reliable and inexpensive to repair.

IMHO PCP is best suited for people who plan on getting a new car every few years and will keep it in good condition. If you plan to keep your car for 5 years or more, or you're likely to scrape the paint, then I think buying a second-hand car outright or with credit is better.

For me the price of the car wasn't the problem. The insurance, as a young new driver in an area insurers hate, is another matter.

TeeniefaeTroon · 07/12/2017 23:37

I won the lottery 😁
Not the jackpot but enough to buy two decent second hand cars. Need to win it again soon though as they’re getting old.

Original poster

inmyshoos · 07/12/2017 23:38

I can keep the outside ok. Driving for 25 yrs and never scraped or damaged any of my cars. The interior is a different story. Dogs and kids.....

OP posts:

Original poster

inmyshoos · 07/12/2017 23:40

Wow teenie thats fab!! So is your user name. My Dad always used to call me 'teeniefaeTroon' wonder where it came from!

OP posts:

Viviennemary · 07/12/2017 23:45

I'd put around £2k deposit and get a bank loan for say £3k and make sure you take somebody with you that knows about cars. You should get something fairly decent for that price. Don't go for finance with a dealer.

ladybird69 · 07/12/2017 23:59

I bought a cheapish Volkswagen MOVE UP, yr old but very low mileage. Cheap to buy, cheap to run cheap to insure and £20 tax. I love it. Think I’ll keep it forever 🚘

scaryteacher · 08/12/2017 00:05

We buy older Saabs from a specialist who hasn't yet sold us a pup in over 15 years. He services them too, so has to deal with us if there are issues. My current one now has 121k miles on the clock, sailed through its continental MOT last week, regularly takes me back and forth to the Uk, and can lug loads of kit for uni. Bargain. I don't expect any issues for another 120k miles.

HerOtherHalf · 08/12/2017 00:08

The best thing about the popularity of pcp is there is a glut of excellent 3 year old cars with full service histories on the market. Low apr loan or interest free cc and grab a bargain. The difference in reliability between a brand new car and a well maintained 3yo is negligible.

crazycatgal · 08/12/2017 00:14

DP has a 65 plate Fiesta ST that was bought new and it is completely unreliable. In the two years he's had it it's been in the garage numerous times due to stuff like loss of power and a broken turbo. Yes it's been covered by warranty but it's still a pain in the arse.

I wouldn't necessarily say that new means more reliable.

19lottie82 · 08/12/2017 08:17

I wouldn't necessarily say that new means
more reliable.

Of course it does!

No one is saying newer cars never break down, and older ones always do, but of course in general newer cars are going to be more reliable and need less work.

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