To ask about the cost of your car

[salviapurplerain]

Posting here for traffic. Basically I'm looking to buy a car on finance and wondering how much other people pay. I know everyone's circumstances are different but still curious. So aibu to ask what car you have and how much you pay for it on a monthly basis?

I saved up and bought a 6-month old car outright for 8k from a main dealership.

It costs £160 a year to insure, it's tax free and won't need an MOT until it's 3rd birthday.

Audi - 24k, it was a year old. took out a normal loan for 18k, used 6k from savings to pay the gap
The loan is 367pm. Wish I'd bought a 3 year old car to not have to pay the depreciation. You live and learn

@almostfrreeatlast I consider my car to be a nice car it has no dings or scratches and drives like a dream 🤷‍♂️

Paid £1500 outright about 10 years ago. It's still going strong despite travelling the length of the country about 10 times a year.

I've never quite understood why people would lease/pcp a car. Seems like money down the drain.

Like hazell I have in the past always bought a cheap runaround for under a grand and drove it for 2 - 3 years.
This year however I splurged 9k on an Audi A3 and took a loan at 215 per month
It’s only 4 years old so I hope to keep it for at least 7-8 years before changing again

I’m sure you know what I mean. I’m not meaning to sound confrontational or anything but it’s not difficult to see that some people prioritise a car over other things same as some people prioritise having new furniture even though 10 year old furniture would suit them fine

My last car was a Skoda Octavia bought for £1k when it was 12 years old. I drove it for 3 years and sold it for £650

Posting here for traffic

I see what you did there op

Although I slightly think yabu and mind your own business, 6 year old Honda Civic w 40k for 8 grand. Bought from savings although Tesco bank were quick to lend me that over 5 years at good rates.

@almostfrreeatlast most of my furniture is old as the hills too 😀
I only buy beds and fridges brand new but everything else is bargainous!

Often it can be cheaper to buy a car brand new as you get better interest rates in finance ( sometimes 2.9% or 0% APR ) than when you buy a used car.

I paid £60,000 for mine, paid just over half cash and half PCP over 4 years at £349 a month. Its a limited Rose Quartz ( lavender pink paintwork by Rolls Royce ) BMW Msport 4i convertible and the most beautiful wonderful car I have ever ever owned and could never ever see me selling it ever. It makes me happy every time I even think of it let alone drive it. I’d Rather keep it as a classic than ever let it go. No one Ive ever dealt with at BMW have ever seen another and Ive never seen one either - sorry bit stealthy posting there - but I cant help myself

I have a 2009 Ford Fiesta I’m paying about £80 a month for over five years. Total cost for the car was £2000 I think but I borrowed £3k.

The car I had before that was a 20 year old Zafira - it still ran but was becoming costly to repair. Also, I had to pay £30 a month for tax and the tank was about £60 to fill up. I did however only pay £1000 for it outright.

I bought my car brand new 9 years ago. I tax, insure, MOT it and service it annually.

I only do about 5000 miles a year, so it's not really worth our whole going to the expense of replacing it unless it gets seriously unreliable.

I am at the cost of new cars now though. My car would cost twice as much to buy today as it cost me 9 years ago. That's madness.

New-to-me car last week. Paid £8500 which came in as:
£1200 in part exchange
£2000 in savings
£500 deposit on credit card (will pay off on Friday when I get paid)
The rest from a personal loan via my bank. I'll have paid it off in three years, at about £150/month. The car is less than 2 years old and has done 14000 miles. I would hope to keep it for at least 6-7 years, by which point I aim to have saved enough to be able to buy the next one in cash.

Oh, should have said, it's a Corsa. WITH FULL SIZE SPARE WHEEL. And heated seats.

Paid £130,000 outright for a very special car, not vanity. I enjoy cars.

I have a 67 plate Renault Clio on finance and pay £241 a month with lots of extras including service plan, Gap insurance and scratch cover.

Currently half way through my plan.

WITH FULL SIZE SPARE WHEEL.

Go you! I just get a squirt can of foamy stuff in the boot

Often it can be cheaper to buy a car brand new as you get better interest rates in finance ( sometimes 2.9% or 0% APR ) than when you buy a used car.

Yeah, that's not true. A brand new car is never going to be cheaper then the same but second hand. The interest may be different but the cost of the second hand car car will be lower in the first place.

Ugh, I hate the idea of getting a brand new car every few years, so wasteful. Much better to buy second hand (you can still get nearly new) and keep it for a decent length of time.

Anyway. OP, look at Skodas. They tend to be good value. Brand snobs dislike Skoda but they are very good cars (the Octavia for example). Made by VW group.

@BrickTop999I paid £60,000 for mine, paid just over half cash and half PCP over 4 years at £349 a month. Its a limited Rose Quartz ( lavender pink paintwork by Rolls Royce ) BMW Msport 4i convertible and the most beautiful wonderful car I have ever ever owned and could never ever see me selling it ever. It makes me happy every time I even think of it let alone drive it. I’d Rather keep it as a classic than ever let it go

Those numbers aren't right are they? You say it was £60k, paid £30k cash and £16,752 (349124). That comes to only £46,752. Do you also have £13,248 balloon payment (plus interest) at the end to pay if you want to keep it, or do you hand it back? Figures don't seem to make sense.

@BrickTop999

Also, you don't own your beautiful 'rose quartz' BMW. You seem to have a real lack of understanding regarding finance and cars.

I got mine on pcp and just paid off the balloon payment. It worked for me because my old car died just after moving house wiped out our savings. It was about £170 a month for two years on 0% finance.

Less than a year old skoda 14k. 4k trade in for my old car, 10kinterest free loan from my pil. Pay 220 a month. 2 years left to pay and the car will be mine. I

3y ago I got a brand new evoque to lease. £900 deposit, £370 a year with 8k miles a year.
No services or mot etc to pay. Only ever paid for fuel.

That goes back in 2 weeks and I'm getting a brand new Mini Cooper for just 5minths as I couldn't decide and thought this was a good deal as no deposit and £250 a month with 10k miles.

You do know that you are asking people who vary from one parent families with disability allowance to two parent families with 200k income? My car is mid range, 8 years old. Leaking badly, but yeah I bought it outright when I was in a better place financially. Others may have £40k cars on finance or PCP. You do what's right for you.