Torn between two...
Discussion
Have been looking around for a while, wanted something which is quick-ish, comfy and a bit of fun. Thought I'd settled on a MK2 Octavia VRS (petrol). Nice engine, firm but good ride, fun when pushing on. 2nd hand ones with reasonable mileage (circa 50K) are about 7-8K for 06/07 plates.
Went to look at one today, a bit ropey - stone chipped to hell. Had a mooch around some of the other dealers and got chatting to a Renaultsport salesman. Went through some of the offers on a Clio 200 + Cup Chassis + Recaros. Went for a test drive and it was great fun. I appreciate they are different cars but both push the right buttons in terms of being quick-ish and fun...
PCP offer looked interesting, £2700 deposit (the PX for my car) and about 235/250 per month (dependant on colour) for a 3.5yr period, servicing included. Never really looked at PCP deals before so I don't know if it's a particularly good deal...
So now I'm torn - a 5yr old VRS which I could get for about 5K on top of my PX, or a brand new Clio RS for effectively 235 a month.
Went to look at one today, a bit ropey - stone chipped to hell. Had a mooch around some of the other dealers and got chatting to a Renaultsport salesman. Went through some of the offers on a Clio 200 + Cup Chassis + Recaros. Went for a test drive and it was great fun. I appreciate they are different cars but both push the right buttons in terms of being quick-ish and fun...
PCP offer looked interesting, £2700 deposit (the PX for my car) and about 235/250 per month (dependant on colour) for a 3.5yr period, servicing included. Never really looked at PCP deals before so I don't know if it's a particularly good deal...
So now I'm torn - a 5yr old VRS which I could get for about 5K on top of my PX, or a brand new Clio RS for effectively 235 a month.
Depends on the final balloon payment on the PCP.
£250/mth over 3.5 years is £10,500. Add-in your deposit and there's £13,200 down with NOTHING to show for it at the end (bar free servicing worth ~£500). So unless they expect the Clio to be worth about £5k in 3.5yrs time, there's a lot of interest included in that particular deal. I wouldn't be jumping for that one, to be honest.
Simple rule: A car will lose ~50% of the purchase price every 3 years. So a £16k car will in 3 years be worth ~£8k, and have cost you £8k in depreciation. An £8k car will have lost £4k, and cost you £4k depreciation. Chances are that cheaper car is also older, so you'll need to factor in either a warranty or some repairs, plus higher servicing (timing belt, brake discs not just pads, plugs, etc. etc.). But that'll still be no more than an extra £2k over 3 years...and the interest costs on the £8k loan will be less!
£250/mth over 3.5 years is £10,500. Add-in your deposit and there's £13,200 down with NOTHING to show for it at the end (bar free servicing worth ~£500). So unless they expect the Clio to be worth about £5k in 3.5yrs time, there's a lot of interest included in that particular deal. I wouldn't be jumping for that one, to be honest.
Simple rule: A car will lose ~50% of the purchase price every 3 years. So a £16k car will in 3 years be worth ~£8k, and have cost you £8k in depreciation. An £8k car will have lost £4k, and cost you £4k depreciation. Chances are that cheaper car is also older, so you'll need to factor in either a warranty or some repairs, plus higher servicing (timing belt, brake discs not just pads, plugs, etc. etc.). But that'll still be no more than an extra £2k over 3 years...and the interest costs on the £8k loan will be less!
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