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?

Absolutely crazy to invest in brand new cars, the minute you leave the forecourt it's lost money. May as well set your money on fire. Invest in newish cars that have built up a reputation, you see lots of vw golfs on the road 2009-2013 models, there's a reason for that, they hold good value to. I would sooner set myself on fire than finance a new car or lease one.

I would never do pcp or lease as like to keep my monthly outgoing to the lowest possible and would rather own an asset that has done the bulk of its depreciation.

I usually buy 2 or 4 year old ex motability cars. Under 12k miles. I saved for my first car and each year/18 months or so I upgraded slightly.

Last time, I aimed to spend 7 - 8k for a 2 year old mid level brand car with good specs and low miles. I got a great custom colour ford bmax, top spec with 12k miles and under 3 years old. This cost £6999.

I was going to keep it for 3 years but I will keep it for 5 years now. I pay insurance and tax yearly, yearly mot and service and its only needed tyres and wipers in 3 years..
I research reliability down to model and years, not just the brand as each year can be different with regards to reliability on the same car.

Next car will cost up to 10k and be 2 or 3 years old but not sure which one yet, I like honest John' website and read the car mags reports on reliability and repair costs.

Even if I had the money, I would still do this as I get to drive a nice car whilst spending the rest of my money elsewhere. Albeit I have limited money but I wouldn't change to pop or lease , if I suddenly earnt loads of money.

@mollibu is that lease or PCP? V intrigued

Select car leasing are excellent (used them in the past), as are nationwide vehicle contracts where we currently lease MIL little Aygo for £98pcm from.

@salviapurplerain Nationwide Vehicle Leasing, our sales lady was called Ellen. I'm happy to give over her email if you need it

@almostfreeatlast leasing

Thanks Mollibu!

Just can’t decide if leasing would be better for us because we are always going to want to change the car regularly - were on 60 months HP right now and what a struggle to keep it this long. We will keep it a while after it’s paid off to have a break from payments so maybe we will get used to not paying a car and just keep it. It’ll end up not being worth anything if we keep it too long though! Grrrrr

Lings website is HILARIOUS

New Seat Arona (FR Sport), £1500 deposit and £224 a month for four years, 10,000 miles per year.

Got it in October. Really like it so far.

I paid £850 cash for my little Suzuki swift 6 years ago. This is the first year it’s needed any work (just under £700). It generally costs me just the price of a service / MOT.

@cannotmakemymindup thanks very much. I am seriously considering this! X

@mollibu thank you. I found it 😊

Always glad to pass on a recommendation for a good company!!

@almostfreeatlast I would definitely recommend leasing! I had a HP for 60 months just like you and felt it lasted forever and I was paying nearly £200 a month for not a very high spec car...

Now that I've switched over to leasing, I don't have to worry about anything going wrong and getting broken. I was always that person who said it was a waste or money but now that I've done it I'll never look back

Paid 10k for a 3 year old VW
3k saved - rest on interest free credit cards (paid off over 2 years) so now own outright
I will run it into the ground - had my last car 16 years did over 250,000 miles

I bought my 2014 DS3 for cash from savings for £4k (was a total bargain- insurance says it's worth £6k)

I'd never get finance on a car again. it's a depreciating asset and I'd rather put the extra in my pension than have a new car. The novelty of new wears off pretty quickly.

I bought a new Range Rover Evoque 2 years ago. It cost £58 k - i negotiated a £2k discount for taking out a loan. I paid off the loan the following month. I need an off road vehicle and plan to have this one for up to 10 years.