How much do you pay per month for your car?
Discussion
swanny71 said:
Any deposit?
Including VAT?
Family work at BMW?
Special company car scheme?
Etc. Etc.
Cannot believe Joe Public has ever had access to a deal like that on the M135i - I've looked.
There are loads of threads on this. My deal is as follows: Including VAT?
Family work at BMW?
Special company car scheme?
Etc. Etc.
Cannot believe Joe Public has ever had access to a deal like that on the M135i - I've looked.
6+23
Total monthly payment £268 with the VAT with an upfront of £1608.
Wasnt a special scheme, I understand it had a decent discount due to a BMW £5k discount, although might be wrong.
If you're old school it's difficult to understand why you would 'rent' a car for 2 or 3 years when if you took a loan with the same monthly payments you could buy one and have something to show for it at the end of the term (admitedly probably something older and not so flash - this may be the crux of it).
I think it's a similar mentality to where people would generally prefer to buy a house rather than rent (maybe this is another old school assumption though!) - having made all of those payments it would be nice to have something to show for it at the end!
There are obvioulsy numerous scenarios here, but if you take someone wanting 'trouble free / cheap motoring" not someone wanting to run around in a Zonda, it surely must be possible to buy a cheap (e.g. 3 year old) reliable car for the equivalent total cost of leasing one.
If you're a petrolhead though it opens up a whole range of cars which would otherwise be unavailable to you via the traditional route. If you're happy with what it's costing you then I can't see what the problem is. (Only other peoples' jealousy at what you're driving!
)
I think it's a similar mentality to where people would generally prefer to buy a house rather than rent (maybe this is another old school assumption though!) - having made all of those payments it would be nice to have something to show for it at the end!
There are obvioulsy numerous scenarios here, but if you take someone wanting 'trouble free / cheap motoring" not someone wanting to run around in a Zonda, it surely must be possible to buy a cheap (e.g. 3 year old) reliable car for the equivalent total cost of leasing one.
If you're a petrolhead though it opens up a whole range of cars which would otherwise be unavailable to you via the traditional route. If you're happy with what it's costing you then I can't see what the problem is. (Only other peoples' jealousy at what you're driving!
)I have nothing constructive to add other than I'm gobsmacked at how much money people seem willing to spend on mundane cars. My big, modern, 350hp V8 luxobarge is probably losing ~£100pcm in depreciation, £300pcm would buy my car outright in less than two years! I fully encourage everyone to continue buying/leasing/financing lots of new cars though, then they'll be all the cheaper for me in 10yrs time.
jimmyVX said:
There are loads of threads on this. My deal is as follows:
6+23
Total monthly payment £268 with the VAT with an upfront of £1608.
Wasnt a special scheme, I understand it had a decent discount due to a BMW £5k discount, although might be wrong.
Does your £268/month include the deposit? If not then £1608 + (23 x £268) is actually £323/month. What spec and how many miles/year. 6+23
Total monthly payment £268 with the VAT with an upfront of £1608.
Wasnt a special scheme, I understand it had a decent discount due to a BMW £5k discount, although might be wrong.
When I enquired 18 months ago a non white, 5 door, manual, relatively low spec car on 15k miles/year 'cheap deal' was not to be had.
Rickyy said:
Citroen C1 VTR+ - £152 PCM on lease.
It goes back in October, won't be financing another car, just going to buy the best I can with whatever I have saved.
Just figured out that the car will have cost me over £6k by the time I hand it back (3yr lease), plus the cost of servicing, which I usually do myself.
I'm quite upset now!
That's what Citroens do cost you money and make you sad. The only car I ever bought new with cash was a VTR never again. It goes back in October, won't be financing another car, just going to buy the best I can with whatever I have saved.
Just figured out that the car will have cost me over £6k by the time I hand it back (3yr lease), plus the cost of servicing, which I usually do myself.
I'm quite upset now!
Storer said:
Remember that many top earners can more than cover the interest charge on the car from the capital value invested in one way or another.
Therefore it makes sense to finance the car especially if they trade as a company (I have a lady client that trades as her own name with Ltd on the end).
while this can be true, the vast majority of those who in normal conversation claim it is what they are doing are full of sTherefore it makes sense to finance the car especially if they trade as a company (I have a lady client that trades as her own name with Ltd on the end).
tBoRED S2upid said:
Rickyy said:
Citroen C1 VTR+ - £152 PCM on lease.
It goes back in October, won't be financing another car, just going to buy the best I can with whatever I have saved.
Just figured out that the car will have cost me over £6k by the time I hand it back (3yr lease), plus the cost of servicing, which I usually do myself.
I'm quite upset now!
That's what Citroens do cost you money and make you sad. The only car I ever bought new with cash was a VTR never again. It goes back in October, won't be financing another car, just going to buy the best I can with whatever I have saved.
Just figured out that the car will have cost me over £6k by the time I hand it back (3yr lease), plus the cost of servicing, which I usually do myself.
I'm quite upset now!
I think I'll buy a £2.5k 6 pot BMW instead and spend another £4k on fuel and rust treatment!
TurboHatchback said:
I have nothing constructive to add other than I'm gobsmacked at how much money people seem willing to spend on mundane cars. My big, modern, 350hp V8 luxobarge is probably losing ~£100pcm in depreciation, £300pcm would buy my car outright in less than two years! I fully encourage everyone to continue buying/leasing/financing lots of new cars though, then they'll be all the cheaper for me in 10yrs time.
How much does your V8 luxobarge cost to service and how much is VED and what happens if something goes pop?These are all considerations for a lot of people. I lease my car because I own my wn business and can practically claim the cost of the lease back. Everyones situation is different.
I just don't get the reverse snobbery (not particularly accusing you of this) that some have on here, almost bragging that they own there own car outright when it turns out they're driving round in an old shed, well thats great and Ive done it myself but it's not for everyone.
Rickyy said:
We opted for it because we were running an ageing 2.0L petrol Focus and the OH had a 30 mile daily commute, so wanted something good on fuel and reliable. Which it is and it was "our" first brand new car, but after the novelty of that wore off, I really started to dislike it, so much so that I prefer to drive my van over it! Now I'll be £6.5k down, without anything to show for it.
I think I'll buy a £2.5k 6 pot BMW instead and spend another £4k on fuel and rust treatment!
That's exactly what I did put up with the Citroen depreciation for so long and swapped it for a BMW with 3 times as many miles never had a new car since. I think I'll buy a £2.5k 6 pot BMW instead and spend another £4k on fuel and rust treatment!
Rickyy said:
We opted for it because we were running an ageing 2.0L petrol Focus and the OH had a 30 mile daily commute, so wanted something good on fuel and reliable. Which it is and it was "our" first brand new car, but after the novelty of that wore off, I really started to dislike it, so much so that I prefer to drive my van over it! Now I'll be £6.5k down, without anything to show for it.
I think I'll buy a £2.5k 6 pot BMW instead and spend another £4k on fuel and rust treatment!
To be fair I think you just got a bad lease deal, IMO its only worth doing it for 2 years at the most.I think I'll buy a £2.5k 6 pot BMW instead and spend another £4k on fuel and rust treatment!
chrispmartha said:
Rickyy said:
We opted for it because we were running an ageing 2.0L petrol Focus and the OH had a 30 mile daily commute, so wanted something good on fuel and reliable. Which it is and it was "our" first brand new car, but after the novelty of that wore off, I really started to dislike it, so much so that I prefer to drive my van over it! Now I'll be £6.5k down, without anything to show for it.
I think I'll buy a £2.5k 6 pot BMW instead and spend another £4k on fuel and rust treatment!
To be fair I think you just got a bad lease deal, IMO its only worth doing it for 2 years at the most.I think I'll buy a £2.5k 6 pot BMW instead and spend another £4k on fuel and rust treatment!
The OH had better start saving for a knew gear knob and wheel refurb!
As much as I never want to lease a car again, I'm very tempted by a new Fiesta ST!
Someone paid me £10/m for two years to drive mine. Bought at £1500, written off two weeks ago, insurance paid £2133 less £400 excess. Leaving a £233 profit over two years.
Given it was due a service, MOT and a tank of fuel I couldn't have picked a better time to smash it into the back of a white van.
Given it was due a service, MOT and a tank of fuel I couldn't have picked a better time to smash it into the back of a white van.
neilf said:
£305 for the M135i bought new May 2013 (3yr deal - can't remember the deposit)
£570 for the Boxster bought new April 2014 (4yr deal - £3500 deposit)
Nearly changed my mind last minute on the Boxster as the Merc dealer next door were doing C63's for £375pm!
At first, I thought that £570/mo + £3500 for the Boxster was a lot - assuming you hand it back at the end of 4 years, that's £30k gone, just to drive a nice new car for a few years (or you could say £7.5k/yr). If you'd bought a brand new Boxster S today, you'd probably lose £20-25k on it in depreciation in 4 years, so on the face of it, the lease deal isn't so bad.£570 for the Boxster bought new April 2014 (4yr deal - £3500 deposit)
Nearly changed my mind last minute on the Boxster as the Merc dealer next door were doing C63's for £375pm!
Still, if you bought a 2 year old car for cash and kept it for 5 years, it'd lose a lot less
My days of buying brand new cars - outright, PCP, leased etc - are long gone, until the lottery fairy comes along and I'm so rich I literally can't give a s
t.NerveAgent said:
Its frightening the amount people spend financing cars..
Is it fook. It's what the car industry is built upon.
Our new electric car on pcp is costing only £30/month more than the ten year old liability it replaced (owned outright) . Why wouldn't you?
Edited by dave_s13 on Thursday 5th March 20:18
Edited by dave_s13 on Thursday 5th March 20:19
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