Which way would you buy?
Discussion
Hi everyone,
Been a lurker of the forum for a while so finally taking the step of joining in.
Just wanted to get your opinion on which way you might go with a car purchase. Budget is about 30k, most likely being one of GLA45, CLA45 or RS3, and expected mileage is about 6k per year.
The two ways I'm considering buying it:
Option 1 - 15k deposit and personal loan the remaining 15k. So own the car after 3 or 4years and do what I want with it (might sell, might keep longer)
Option 2 - 5k deposit and PCP it for 3 years, and most likely just walk away after the 3years.
In theory, I think I should come out a few thousand ahead by buying it with the personal loan and selling it after the 3 years vs the PCP. Assuming I just leave the 10k deposit saved by going for PCP in the bank.
Which way would you go, or something else entirely? All advice welcome as I've been doing circles in my head for weeks!
Cheers
Been a lurker of the forum for a while so finally taking the step of joining in.
Just wanted to get your opinion on which way you might go with a car purchase. Budget is about 30k, most likely being one of GLA45, CLA45 or RS3, and expected mileage is about 6k per year.
The two ways I'm considering buying it:
Option 1 - 15k deposit and personal loan the remaining 15k. So own the car after 3 or 4years and do what I want with it (might sell, might keep longer)
Option 2 - 5k deposit and PCP it for 3 years, and most likely just walk away after the 3years.
In theory, I think I should come out a few thousand ahead by buying it with the personal loan and selling it after the 3 years vs the PCP. Assuming I just leave the 10k deposit saved by going for PCP in the bank.
Which way would you go, or something else entirely? All advice welcome as I've been doing circles in my head for weeks!
Cheers
Diadigdav said:
Hi everyone,
Been a lurker of the forum for a while so finally taking the step of joining in.
Just wanted to get your opinion on which way you might go with a car purchase. Budget is about 30k, most likely being one of GLA45, CLA45 or RS3, and expected mileage is about 6k per year.
The two ways I'm considering buying it:
Option 1 - 15k deposit and personal loan the remaining 15k. So own the car after 3 or 4years and do what I want with it (might sell, might keep longer)
Option 2 - 5k deposit and PCP it for 3 years, and most likely just walk away after the 3years.
In theory, I think I should come out a few thousand ahead by buying it with the personal loan and selling it after the 3 years vs the PCP. Assuming I just leave the 10k deposit saved by going for PCP in the bank.
Which way would you go, or something else entirely? All advice welcome as I've been doing circles in my head for weeks!
Cheers
Roll back a bit. Been a lurker of the forum for a while so finally taking the step of joining in.
Just wanted to get your opinion on which way you might go with a car purchase. Budget is about 30k, most likely being one of GLA45, CLA45 or RS3, and expected mileage is about 6k per year.
The two ways I'm considering buying it:
Option 1 - 15k deposit and personal loan the remaining 15k. So own the car after 3 or 4years and do what I want with it (might sell, might keep longer)
Option 2 - 5k deposit and PCP it for 3 years, and most likely just walk away after the 3years.
In theory, I think I should come out a few thousand ahead by buying it with the personal loan and selling it after the 3 years vs the PCP. Assuming I just leave the 10k deposit saved by going for PCP in the bank.
Which way would you go, or something else entirely? All advice welcome as I've been doing circles in my head for weeks!
Cheers
30k is a good chunk of money that opens up a considerable range of car options.
So: how did you get to your shortlist of cars; what’s the prospective usage; what’s your age & driving experience (for insurance and general car suitability); and most importantly: new or used?
BlackWidow13 said:
Roll back a bit.
30k is a good chunk of money that opens up a considerable range of car options.
So: how did you get to your shortlist of cars; what’s the prospective usage; what’s your age & driving experience (for insurance and general car suitability); and most importantly: new or used?
Got to my shortlist as I want something with 4 doors, AWD so i can continue to enjoy it during the winter, and didn't want anything too big, so fast hatchback is perfect. As much as I would love something like an M4 (Doesn't meet my wifes request of 4 doors), not sure I would trust myself with it, and noticed a hefty insurance jump with it also. Have considered a Golf R and S3, but the pull of an AMG or RS is too much.30k is a good chunk of money that opens up a considerable range of car options.
So: how did you get to your shortlist of cars; what’s the prospective usage; what’s your age & driving experience (for insurance and general car suitability); and most importantly: new or used?
33yrs old, been driving since 18 but due to a stint living outside of the uk I only have 5 years no claims available to me. Have mostly looked at used cars to date becasue i was leaning towards half deposit and half personal loan for payment. Mileage will be at very most 6k a year.
I went round similar houses quite recently. I wanted a quick second car. Considered all sorts from 5k to low 30s. In the end I came back (boringly perhaps) the old adage: whatever the question, the answer is probably a Golf.
I bought an R just over three years old. £22k, lots of toys on it. You would have plenty of change in your budget for that sort of thing.
I understand completely the pull of an AMG/RS/M car. But hear this in mind: my other car is an AM V12VS. The scope for using that car “fully” is very limited these days. The chances are that you will be able to use the extra ability that an AMG or RS has over an R literally for a few minutes every year.
Obviously this argument taken too far will see you in some s
t box that can barely break 100 going downhill. So there’s a line to be drawn. Realise though that you will be paying for the badge and for some grunt that will be largely inaccessible. There’s nothing wrong with that (it’s how I ended up with an AM!) but go in with your eyes open.
As for how to buy: it depends IMO on what you think you’ll do with the car in 3-4 years time. Will you keep it or sell it? If you keep it, would you rather pay a bit less now and pay off the balloon then or pay a bit more now and know it will have no end cost? If you get shot of it, will you want some money out of it for a replacement?
I bought an R just over three years old. £22k, lots of toys on it. You would have plenty of change in your budget for that sort of thing.
I understand completely the pull of an AMG/RS/M car. But hear this in mind: my other car is an AM V12VS. The scope for using that car “fully” is very limited these days. The chances are that you will be able to use the extra ability that an AMG or RS has over an R literally for a few minutes every year.
Obviously this argument taken too far will see you in some s
t box that can barely break 100 going downhill. So there’s a line to be drawn. Realise though that you will be paying for the badge and for some grunt that will be largely inaccessible. There’s nothing wrong with that (it’s how I ended up with an AM!) but go in with your eyes open. As for how to buy: it depends IMO on what you think you’ll do with the car in 3-4 years time. Will you keep it or sell it? If you keep it, would you rather pay a bit less now and pay off the balloon then or pay a bit more now and know it will have no end cost? If you get shot of it, will you want some money out of it for a replacement?
BlackWidow13 said:
I went round similar houses quite recently. I wanted a quick second car. Considered all sorts from 5k to low 30s. In the end I came back (boringly perhaps) the old adage: whatever the question, the answer is probably a Golf.
I bought an R just over three years old. £22k, lots of toys on it. You would have plenty of change in your budget for that sort of thing.
I understand completely the pull of an AMG/RS/M car. But hear this in mind: my other car is an AM V12VS. The scope for using that car “fully” is very limited these days. The chances are that you will be able to use the extra ability that an AMG or RS has over an R literally for a few minutes every year.
Obviously this argument taken too far will see you in some st box that can barely break 100 going downhill. So there’s a line to be drawn. Realise though that you will be paying for the badge and for some grunt that will be largely inaccessible. There’s nothing wrong with that (it’s how I ended up with an AM!) but go in with your eyes open.
As for how to buy: it depends IMO on what you think you’ll do with the car in 3-4 years time. Will you keep it or sell it? If you keep it, would you rather pay a bit less now and pay off the balloon then or pay a bit more now and know it will have no end cost? If you get shot of it, will you want some money out of it for a replacement?
A lot of good points there, especially about how much you could actually use the performance of these cars.I bought an R just over three years old. £22k, lots of toys on it. You would have plenty of change in your budget for that sort of thing.
I understand completely the pull of an AMG/RS/M car. But hear this in mind: my other car is an AM V12VS. The scope for using that car “fully” is very limited these days. The chances are that you will be able to use the extra ability that an AMG or RS has over an R literally for a few minutes every year.
Obviously this argument taken too far will see you in some s
t box that can barely break 100 going downhill. So there’s a line to be drawn. Realise though that you will be paying for the badge and for some grunt that will be largely inaccessible. There’s nothing wrong with that (it’s how I ended up with an AM!) but go in with your eyes open. As for how to buy: it depends IMO on what you think you’ll do with the car in 3-4 years time. Will you keep it or sell it? If you keep it, would you rather pay a bit less now and pay off the balloon then or pay a bit more now and know it will have no end cost? If you get shot of it, will you want some money out of it for a replacement?
A Golf R used to be the one I was focusing on, and I had test drive of a 7.5 which was great but i just didn't feel a strong urge to buy it. I've also owned a mk6 GTI before and maybe it's just I want something a bit different. Like you say though, it would provide almost all of the performance of the AMG/RS but with a significant chunk of change leftover. As a total wildcard entry there is a part of me that would love an early lotus exige as a weekend toy and something that might stand a chance of breaking even on if well looked after, but defintiely not at the point in my life yet to justify running two cars even if one of them was nothing special as a daily run around.
It would be nice to know i can keep it if wanted at the end of the 3/4 years, and what's not practical about a 4 door, 4WD, automatic hot hatch. But realistically, I think i would be feeling its time for a change by the 4 year mark, not necessaily to something more expensive or faster but just newer.
DSLiverpool said:
In 3 years anything could happen in car land, a pcp gives you a safety net perhaps?
Yeah had thought of that. I've never pcp'd before but as i understand it (please correct me If I'm wrong) that you know your deposit, monthly payments and at the end of the term you can walk away if needed, even if the cars value tanks due to other things in the market. Or walk away after half the monthly payments have been made?Diadigdav said:
Yeah had thought of that. I've never pcp'd before but as i understand it (please correct me If I'm wrong) that you know your deposit, monthly payments and at the end of the term you can walk away if needed, even if the cars value tanks due to other things in the market. Or walk away after half the monthly payments have been made?
Yep - you may have equity in it but assume hand back. Your hiring the car basically. I’ve just done exactly that where I know what I’m paying over 4 years and I’m comfortable with it.
Having owned 2 RS3 and just sold my GLA45 I would say go for the RS3 if you want to win traffic light GPs otherwise the GLA which is a vastly better daily driver and turns in without washing wide, the ride on the CLA is bloody terrible, if you can find one like mine with race mode (LSD) which transforms how they drive.
Finance go for which ever has the lowest total cost
Performance cars like these seam to hold there money extremely well when they hit the 20k mark
Finance go for which ever has the lowest total cost
Performance cars like these seam to hold there money extremely well when they hit the 20k mark
Dave Hedgehog said:
Having owned 2 RS3 and just sold my GLA45 I would say go for the RS3 if you want to win traffic light GPs otherwise the GLA which is a vastly better daily driver and turns in without washing wide, the ride on the CLA is bloody terrible, if you can find one like mine with race mode (LSD) which transforms how they drive.
Finance go for which ever has the lowest total cost
Performance cars like these seam to hold there money extremely well when they hit the 20k mark
That's a nice run of cars! I think I'm leaning towards the GLA. Really like the aero kits, in my experience there is significantly less of them on the road, and loads more room in the back seat compared to an RS3 with the bucket seats. Not that i plan to be putting a lot of adults in the back regularly but we have a couple of road trips coming up with friends, and I was able to get in the back of the GLA and leave the drivers seat in my position (i'm 6ft 3) and there was still loads of room in the back.Finance go for which ever has the lowest total cost
Performance cars like these seam to hold there money extremely well when they hit the 20k mark
Just out of interest, did you trade in the GLA or sell it privately?
Diadigdav said:
A lot of good points there, especially about how much you could actually use the performance of these cars.
A Golf R used to be the one I was focusing on, and I had test drive of a 7.5 which was great but i just didn't feel a strong urge to buy it. I've also owned a mk6 GTI before and maybe it's just I want something a bit different. Like you say though, it would provide almost all of the performance of the AMG/RS but with a significant chunk of change leftover. As a total wildcard entry there is a part of me that would love an early lotus exige as a weekend toy and something that might stand a chance of breaking even on if well looked after, but defintiely not at the point in my life yet to justify running two cars even if one of them was nothing special as a daily run around.
It would be nice to know i can keep it if wanted at the end of the 3/4 years, and what's not practical about a 4 door, 4WD, automatic hot hatch. But realistically, I think i would be feeling its time for a change by the 4 year mark, not necessaily to something more expensive or faster but just newer.
Ah - if you’ve come from a mk 6 GTi and have tried an R then I get completely why the R is off the list. A Golf R used to be the one I was focusing on, and I had test drive of a 7.5 which was great but i just didn't feel a strong urge to buy it. I've also owned a mk6 GTI before and maybe it's just I want something a bit different. Like you say though, it would provide almost all of the performance of the AMG/RS but with a significant chunk of change leftover. As a total wildcard entry there is a part of me that would love an early lotus exige as a weekend toy and something that might stand a chance of breaking even on if well looked after, but defintiely not at the point in my life yet to justify running two cars even if one of them was nothing special as a daily run around.
It would be nice to know i can keep it if wanted at the end of the 3/4 years, and what's not practical about a 4 door, 4WD, automatic hot hatch. But realistically, I think i would be feeling its time for a change by the 4 year mark, not necessaily to something more expensive or faster but just newer.
Funny you mention an Exige as a wildcard. I spent a lot of the summer looking at S2 SC Elises and Exige Ss. Came very close to going down that road too. But didn’t.
Want another wildcard? Have a look at the 2007 R8 on sale at Autologix. And the one on ebay for 32500. The sensible side of my head had to shout long and hard to get the rest of me past those.
BlackWidow13 said:
Ah - if you’ve come from a mk 6 GTi and have tried an R then I get completely why the R is off the list.
Funny you mention an Exige as a wildcard. I spent a lot of the summer looking at S2 SC Elises and Exige Ss. Came very close to going down that road too. But didn’t.
Want another wildcard? Have a look at the 2007 R8 on sale at Autologix. And the one on ebay for 32500. The sensible side of my head had to shout long and hard to get the rest of me past those.
haha I've had those same thoughts about an R8 before. They do look like amazing value in the 30 to 40k range with low miles and service history but I would be too scared to go for it.Funny you mention an Exige as a wildcard. I spent a lot of the summer looking at S2 SC Elises and Exige Ss. Came very close to going down that road too. But didn’t.
Want another wildcard? Have a look at the 2007 R8 on sale at Autologix. And the one on ebay for 32500. The sensible side of my head had to shout long and hard to get the rest of me past those.
My other 2 seater interest in a similar price bracket but signifcantly newer is a v6 F-Type. There was a private sale one I was watching, 2015, about 25k miles, red, Jag warranty until 2021 that disappeared quickly when it got reduced to 29,900. Absolute bargain I thought and also possibly my wifes favourite car but just not practical for us
Diadigdav said:
haha I've had those same thoughts about an R8 before. They do look like amazing value in the 30 to 40k range with low miles and service history but I would be too scared to go for it.
Look at it this way. If you buy a decade-old R8, you might spend thousands fixing it. If you buy a brand new anything, you will lose thousands in depreciation. A bad R8 will have to be going some to out-spend the depreciation on a new 40k car, I'd have thought. Engine is the same as the RS4 anyway.And at the end of it, you've owned and driven something special.
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