Another Dull 'what Car' Next Question......

[fatboy69]

I think that the time has come to move on my BMW 318 (a Jurrasic era car apparently) as the car is starting to cost more than it is worth.

So I cannot afford to buy a new car however last week I test drove an MG6 1.9 diesel which, I have to say, I was quite impressed with.

Currently a lease deal on offer where for an upfront payment of just under £600.00 I can get into one of them for £199.00 per month on a 3 year lease deal.

On the other hand my parents have said that they will give me around £2k to buy a replacement for the BMW.

So the question is this: how good would the MG6 be on a long term basis (I had never thought of a lease deal until I got the car back to dealer) & is this sort of thing any good?

I haven't looked anywhere else so there are any other decent lease deals around at the moment?

If I decide what to buy what should I get to replace the trusty BMW?

Prefer 4 doors, 2 litre minimum engine size & err.......

That's all I know although I have been looking at MG-ZT's!!!!!!!

Sensible suggestions are welcome.

[GreatGranny]

There's a thread dedicated to Lease deals so may be ab idea to go through that.
The MG deals sounds ok but lots of deals on for around the same price.
Is it Lease/PCP etc..?

Depends if its affordable or not.

Its the age old dilemma, new vs used.

[fatboy69]

As far as I know it's a straight forward lease deal although I haven't looked into it in great deal as yet as I had not thought of leasing prior to driving the MG.

I guess the thing that worries me a little is that at the end of 3 years you hand the car back & you have nothing to show for it.

Cannot finance due to my jobs - all of my jobs are zero hours contracts so no finance co would touch me.

So lease new or buy older second hand car.

That's my dilemma.

[xRIEx]

fatboy69 said:

So I cannot afford to buy a new car however last week I test drove an MG6 1.9 diesel which, I have to say, I was quite impressed with.

Currently a lease deal on offer where for an upfront payment of just under £600.00 I can get into one of them for £199.00 per month on a 3 year lease deal.

These two statements are at odds: you are getting a new car with a lease. If you can afford the lease, then you can afford a new car; if you really can't afford a new car, then you can't actually afford the lease.

In 3 years you will have neither £7565 nor a car - you will likely need to take out a new lease.

Nowt wrong with leasing but if money is a concern, it may not be the best bet. If you don't have the cash right now but need a reasonable car to keep for a while, £196ish per month will get you a loan of £6500, plus your £600 plus the £2k from your parents gives £9100 to buy a car that you will still have after 3 years or is easily sellable if circumstances change and you need to get rid.

There's not a need to stretch to £9k on a car if it's just a rep-saloon, plenty perfectly serviceable for less. If you want a newer car, go for it.

[xRIEx]

fatboy69 said:

Cannot finance due to my jobs - all of my jobs are zero hours contracts so no finance co would touch me.

So lease new or buy older second hand car.

You do know a lease is a finance product? You will be credit checked and assessed before the let you lease a car to make sure you can afford the payments.

[fatboy69]

Yes, I do know that leasing is finance however MG will lease for anyone so they tell me as they want to get their cars out on the roads.

I cannot get straight finance because of my jobs so its either the MG, possibly, or a £2k barge.

More likely to be the barge route however as I hadn't considered leasing before I wanted to get some help.

[Willy Nilly]

Leasing has it's place. In your situation I'd get the best, boring Jap hatch back your £2,000 will buy you and look after it. This should provide the cheapest and least hassle motoring while you get a better/ more stable job.

Those barges look tempting, but they WILL be expensive to run. Buy a good, inexpensive car and get yourself financially established/stable, then if and when you can afford it treat yourself to something decent

[fatboy69]

The thing is this - I haven't a clue what I want!!!

[sawman]

is your 318 costing more than £199 a month to mend (£2400 per year)?

I'd rather keep fixing the old car if I didnt know what to replace it with. Over the 3 years of the lease you could probably have paid for a complete bare metal restoration of your old bmw - making it essentially brand new

[fatboy69]

It's a 1998 car which is starting to show its age now. Central locking broke this week - haven't had the final invoice yet however it won't be cheap.

Getting to the point where, as much as I love the car, I'm soon going to be spending more than the car is worth so I'm thinking that now is the time to move her on.

[ORD]

fatboy69 said:

It's a 1998 car which is starting to show its age now. Central locking broke this week - haven't had the final invoice yet however it won't be cheap.

Getting to the point where, as much as I love the car, I'm soon going to be spending more than the car is worth so I'm thinking that now is the time to move her on.

Economics 101 - the car is worth TO YOU is replacement cost. What it costs to run is important; what you could sell it for isnt very important at all. I would be amazed if it would cost you £7k in repairs in 3 years!

[Jonny_]

Assuming that you generally like your old Beemer, would your budget get you a newer, nicer, better-specced example?

Or perhaps a Mondeo, they've always had a reputation as a decent drive and are a sensible option in terms of running costs, reliability, spares cost/availability etc.

If your income isn't fixed then leasing could be a liability if you have a dry spell.

[browna]

If you want a very reliable 4 door 2 litre for £2k i cAn recommend a 2005 ep2 civic type S, they are nippy enough for every day use, uber reliable, and a few toys.