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Author Topic: Motors  (Read 4181 times)
Banker

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« Reply #30 on: Sunday, May 16, 2021, 07:53:51 »

Personally - I wouldn't pay cash for anything that depreciates. A car is a life cost, not an asset.

PP, would you flesh out this comment, please, don't get the logic ? Currently, with interest rates lower than inflation, cash on deposit is eroding in value, why not use that cash rather than pay the additional leasing costs ?

I'm currently looking at a Hyundai i20, or a Ford Focus, something small and nippy around Swindon, but enough oomph to get down/back from St James Park comfortably. Been considering the myriad of PCP/leasing options rather than cash, just not sold on them as per above, could well be missing something though !
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Peter Venkman
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« Reply #31 on: Sunday, May 16, 2021, 09:30:10 »

Living down here on the South Somerset/Devon border I couldn't live without a car as everything is so far apart and with pretty much zero public transport, miles from any biggish town, 3 buses a day, miles from a railway station if you don't have a car you are essentially house bound. Home delivery slots have to be booked 6 weeks in advance and only Asda and Tesco deliver to my area anyway.

For my family cars are essential and can't imagine living without one, ever, its a cost I have to accept, thats one reason I have the most economical car I can get so costs are far smaller than they could be and I still have a decent size car for everything I need.
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« Reply #32 on: Sunday, May 16, 2021, 09:59:00 »

You can get an older SL Mercedes for way less than a run of the mill motor. Will probably appreciate, too.

Thereís loads of nearly classic top brand models out there
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Hitchinred

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« Reply #33 on: Sunday, May 16, 2021, 16:01:22 »

PP, would you flesh out this comment, please, don't get the logic ? Currently, with interest rates lower than inflation, cash on deposit is eroding in value, why not use that cash rather than pay the additional leasing costs
If you have cash see if there are any additional benefits available by taking a lease/PCP agreement and take out an agreement then pay it off immediately to save the interest but keep the benefits you were offered.
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Banker

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« Reply #34 on: Sunday, May 16, 2021, 18:40:13 »

If you have cash see if there are any additional benefits available by taking a lease/PCP agreement and take out an agreement then pay it off immediately to save the interest but keep the benefits you were offered.

Would be really surprised if they haven't already closed that loophole with hefty early termination fees !

In my case I've only enough cash to buy a reasonable second-hand motor, so weighing that up against the costs of a leased/PCP brand new motor ?
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