Cost of New Car Vs Used Car. Am i missing anything?
Discussion
Plus a rainy day isn't neccesarily a negative event.
Fast forward 4 years. You get made redundant. Your mate says 'Sod it, lets go travelling for 6 months and sort the job thing out when we get back'
'Can't, I leased an Ibiza'
'Where is it?'
'Went back last year'
etc. Ok it's not quite as simple as that but it explains why its useful to have a stash for a rainy day.
Fast forward 4 years. You get made redundant. Your mate says 'Sod it, lets go travelling for 6 months and sort the job thing out when we get back'
'Can't, I leased an Ibiza'
'Where is it?'
'Went back last year'
etc. Ok it's not quite as simple as that but it explains why its useful to have a stash for a rainy day.
Fox- said:
Plus a rainy day isn't neccesarily a negative event.
Fast forward 4 years. You get made redundant. Your mate says 'Sod it, lets go travelling for 6 months and sort the job thing out when we get back'
'Can't, I leased an Ibiza'
'Where is it?'
'Went back last year'
etc. Ok it's not quite as simple as that but it explains why its useful to have a stash for a rainy day.
fair point, although im still going to be putting away a certain amount every month, so still going to have a fair wack saved up at any point in time. thats what im getting at, although a car is going to cost me £200 a month plus fuel etc, the new car isnt going to need a mot, possable a new clutch and radiatior the bora is going to need, is it worth thowing around £500 at a car worth less than £2k now?Fast forward 4 years. You get made redundant. Your mate says 'Sod it, lets go travelling for 6 months and sort the job thing out when we get back'
'Can't, I leased an Ibiza'
'Where is it?'
'Went back last year'
etc. Ok it's not quite as simple as that but it explains why its useful to have a stash for a rainy day.
re the leon cupra, was looking at those and other incarnations of the 1.8t and all are around £4k to insure, hense the want to reduce the cost of insurance tax etc
Edited by okie592 on Sunday 15th April 20:06
Edited by okie592 on Sunday 15th April 20:15
I think that pcp is good if you've got a commute and rack up the miles, say 15k+ miles a year. With a reduction in your annual milage, the argument for getting a new car becomes less solid. I can understand your concern at (potentially) throwing money at the Bora but your entering the "bangernomics" phase of ownership which could see you save money overall.
okie592 said:
Fox- said:
Plus a rainy day isn't neccesarily a negative event.
Fast forward 4 years. You get made redundant. Your mate says 'Sod it, lets go travelling for 6 months and sort the job thing out when we get back'
'Can't, I leased an Ibiza'
'Where is it?'
'Went back last year'
etc. Ok it's not quite as simple as that but it explains why its useful to have a stash for a rainy day.
fair point, although im still going to be putting away a certain amount every month, so still going to have a fair wack saved up at any point in time. thats what im getting at, although a car is going to cost me £200 a month plus fuel etc, the new car isnt going to need a mot, possable a new clutch and radiatior the bora is going to need, is it worth thowing around £500 at a car worth less than £2k now?Fast forward 4 years. You get made redundant. Your mate says 'Sod it, lets go travelling for 6 months and sort the job thing out when we get back'
'Can't, I leased an Ibiza'
'Where is it?'
'Went back last year'
etc. Ok it's not quite as simple as that but it explains why its useful to have a stash for a rainy day.
re the leon cupra, was looking at those and other incarnations of the 1.8t and all are around £4k to insure, hense the want to reduce the cost of insurance tax etc
Edited by okie592 on Sunday 15th April 20:06
Edited by okie592 on Sunday 15th April 20:15
Up to yourself but its a big commitment at your age for very little in return.
okie592 said:
although a car is going to cost me £200 a month plus fuel etc, the new car isnt going to need a mot, possable a new clutch and radiatior the bora is going to need, is it worth thowing around £500 at a car worth less than £2k now?
Does your car really need a clutch and a radiator, or is that a handy £500 bill to stack up against keeping it?Also, you'll need to get those fixed to get the best price possible for your car?
daemon said:
Does your car really need a clutch and a radiator, or is that a handy £500 bill to stack up against keeping it?
Also, you'll need to get those fixed to get the best price possible for your car?
it is leaking coolent, probs could get away with a can of radweld. clutch im not so sure about its getting higher and higer and makes some wierd sounds.Also, you'll need to get those fixed to get the best price possible for your car?
Im worried about being bored pretty quickly, but nearly ever car i look at is alot to insure, i wouldnt mind £2k for something like a 1.8t but its at least 4 grand, plus the extra tax.
in reality i want a warm or hot hatch, but its not going to happen this year, hense why i thought this ibiza.
unless anyone can suggest something better?
If you get the Gap get return to invoice not finance gap, make sure it is return to invoice as has been suggested.
People saying they cant see any sense in it have clearly been ripped off on finance gap and have never used or had experience of return to invoice gap that does pay out well.
However you 'dont' have to take it by any means.
Regardless which way you look at it the Bora is the cheaper option, providing nothing blows up on it.
If you want a new car for a couple of years, look at some of the PCH deals about, if your miles arent high some stupidly cheap offers kicking about.
People saying they cant see any sense in it have clearly been ripped off on finance gap and have never used or had experience of return to invoice gap that does pay out well.
However you 'dont' have to take it by any means.
Regardless which way you look at it the Bora is the cheaper option, providing nothing blows up on it.
If you want a new car for a couple of years, look at some of the PCH deals about, if your miles arent high some stupidly cheap offers kicking about.
After_Shock said:
If you get the Gap get return to invoice not finance gap, make sure it is return to invoice as has been suggested.
People saying they cant see any sense in it have clearly been ripped off on finance gap and have never used or had experience of return to invoice gap that does pay out well.
However you 'dont' have to take it by any means.
Regardless which way you look at it the Bora is the cheaper option, providing nothing blows up on it.
If you want a new car for a couple of years, look at some of the PCH deals about, if your miles arent high some stupidly cheap offers kicking about.
sorry to sound dense but what is PCH? how does it work? People saying they cant see any sense in it have clearly been ripped off on finance gap and have never used or had experience of return to invoice gap that does pay out well.
However you 'dont' have to take it by any means.
Regardless which way you look at it the Bora is the cheaper option, providing nothing blows up on it.
If you want a new car for a couple of years, look at some of the PCH deals about, if your miles arent high some stupidly cheap offers kicking about.
thanks for the adivce on gap
okie592 said:
daemon said:
Does your car really need a clutch and a radiator, or is that a handy £500 bill to stack up against keeping it?
Also, you'll need to get those fixed to get the best price possible for your car?
it is leaking coolent, probs could get away with a can of radweld. clutch im not so sure about its getting higher and higer and makes some wierd sounds.Also, you'll need to get those fixed to get the best price possible for your car?
Im worried about being bored pretty quickly, but nearly ever car i look at is alot to insure, i wouldnt mind £2k for something like a 1.8t but its at least 4 grand, plus the extra tax.
in reality i want a warm or hot hatch, but its not going to happen this year, hense why i thought this ibiza.
unless anyone can suggest something better?
To answer an earlier comment, yes it is completely worth spending £500 to keep a £2000 car on the road. Either that or get yourself into an utterly dull financed new car which will drain the potential budget for an interesting replacement. You mention the possibility of university in the next couple of years - don't you think a pot of money to give you some choices would be helpful?
Take a tip from someone who's been there - get the Bora fixed, valeted and polished for the price of a couple of months finance to give it that "new to you" feel, then drive it for another year or two until you can actually afford to buy the car you want for cash. By then you'll probably annoy yourself by becoming quite fond of the old thing - and if you don't you'll have plenty of choice about what to replace it with.
okie592 said:
For those doubting i can afford it, im 19 live at home, pay no rent, work full time and after bills have a disposable income of about £800 a month
Why not chuck some cash your parent's way?That way you'll avoid being called a spoilt ungrateful little s
t by the miserable members of PH.
If you're not doing many miles, spend your £200 / month on a loan and get something tasty and classic that won't depreciate. I'd polish up the Bora and get shot of it in exchange for something like this. Plus a bit left over in the kitty in case it gives you any trouble....
http://www.pistonheads.com/sales/3708513.htm
http://www.pistonheads.com/sales/3708513.htm
Dapster said:
If you're not doing many miles, spend your £200 / month on a loan and get something tasty and classic that won't depreciate. I'd polish up the Bora and get shot of it in exchange for something like this. Plus a bit left over in the kitty in case it gives you any trouble....
http://www.pistonheads.com/sales/3708513.htm
ide never have a porsche, im all for selling up and getting something fun, but as i said insurance over £2k is not something im prepared to pay:http://www.pistonheads.com/sales/3708513.htm
clio 172 is something i really want, but £4500 to just be able to drive it for a year fook that! it be less next year but not by much
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