Lease, buy or rent!
Discussion
Right, bear with me, this is a bit of a long one...
First of all, current fleet = R53 Cooper S which i use to commute / occasionally pick kids up from school. Kids are 12 & 13.
Mini Paceman Cooper S - wife's car which she uses for local commute and school runs.
Usage required for my car is commute to work when needed - 10 mins each way. Pick kids up from school occasionally.
Wife's car is fine for her current needs.
Missing needs : Holiday's - UK / Abroad when allowed - driving and occasional longer journeys in the UK. Ferrying kids to friends as they get older, travel to game shooting 4-5 x per year in the winter (not essential as I can potentially get a lift)
So I have 4 options I'm considering - all 2 year plans as our mortgage deal ends in 2 years and don't want the hassle of any debt at this point.
OPTION 1
Sell R53, use money + £2.5k from sale of second car (Volvo V70 that was little use) to buy something slightly more sensible for me, keep wifes car. For needed longer trips rent a car - have found you can rent even something like a Range Rover sport for about £600 for mid week 4-5 days. Something like a C Class merc can be had for nearer £400
OPTION 2
Sell R53, keep wife's car and lease - example Audi A4 Avant Black Edition petrol, £400ish per month over 24 months with zero deposit.
OPTION 3
Sell R53, use money + £2.5k and bank loan to buy something up to around £14k which was previously getting into a nice C Class estate (newer shape), F11 BMW 530d, F31 330d but is getting tighter as the used prices seem to be going up.
OPTION 4
As above but borrow less and spend nearer £10k on an older car say F11 530d or A6 avant 2 litre diesel, possibly keep the R53 to commute but seems daft having a 10K car sat on the path!
I'm talking myself in circles on this one so if someone can give me a virtual slap and help me see reason, I would greatly appreciate it.
Caveat - I'm ideally looking to stay with Audi / BMW / Merc as nothing much else takes my fancy. Obviously it needs to be OK doing short journeys as the mini goes.
First of all, current fleet = R53 Cooper S which i use to commute / occasionally pick kids up from school. Kids are 12 & 13.
Mini Paceman Cooper S - wife's car which she uses for local commute and school runs.
Usage required for my car is commute to work when needed - 10 mins each way. Pick kids up from school occasionally.
Wife's car is fine for her current needs.
Missing needs : Holiday's - UK / Abroad when allowed - driving and occasional longer journeys in the UK. Ferrying kids to friends as they get older, travel to game shooting 4-5 x per year in the winter (not essential as I can potentially get a lift)
So I have 4 options I'm considering - all 2 year plans as our mortgage deal ends in 2 years and don't want the hassle of any debt at this point.
OPTION 1
Sell R53, use money + £2.5k from sale of second car (Volvo V70 that was little use) to buy something slightly more sensible for me, keep wifes car. For needed longer trips rent a car - have found you can rent even something like a Range Rover sport for about £600 for mid week 4-5 days. Something like a C Class merc can be had for nearer £400
OPTION 2
Sell R53, keep wife's car and lease - example Audi A4 Avant Black Edition petrol, £400ish per month over 24 months with zero deposit.
OPTION 3
Sell R53, use money + £2.5k and bank loan to buy something up to around £14k which was previously getting into a nice C Class estate (newer shape), F11 BMW 530d, F31 330d but is getting tighter as the used prices seem to be going up.
OPTION 4
As above but borrow less and spend nearer £10k on an older car say F11 530d or A6 avant 2 litre diesel, possibly keep the R53 to commute but seems daft having a 10K car sat on the path!
I'm talking myself in circles on this one so if someone can give me a virtual slap and help me see reason, I would greatly appreciate it.
Caveat - I'm ideally looking to stay with Audi / BMW / Merc as nothing much else takes my fancy. Obviously it needs to be OK doing short journeys as the mini goes.
The only bit I don’t get… you have a V70 that was of little use. But the cars you’re looking at buying are similar types… A6, BMW tourings. The V70 would deal with holidays, long drives etc.
Sounds a bit to me like you just want a new car
So, fill your boots, buy what you want and can afford. I wouldn’t be comfy buying a car that doesn’t do all I want it too so the renting for holidays would be out.
It’s nice to go higher end and get the bank loan to buy yourself something which will feel good and put a smile on your face. Only you know if you want to make that financial commitment.
The only other point of note is are you sure you want to go diesel. Your usage doesn’t seem to lend itself to one.
Sounds a bit to me like you just want a new car
So, fill your boots, buy what you want and can afford. I wouldn’t be comfy buying a car that doesn’t do all I want it too so the renting for holidays would be out. It’s nice to go higher end and get the bank loan to buy yourself something which will feel good and put a smile on your face. Only you know if you want to make that financial commitment.
The only other point of note is are you sure you want to go diesel. Your usage doesn’t seem to lend itself to one.
Edited by wiliferus on Sunday 27th June 17:03
Sorry, should clarify the V70 was bought as a dog car but we had to rehome the dog. It was utterly reliable for the year we had it being a P2 D5 model. However I always chose the R53 to drive and the family hated the Volvo as they are all brand snobs and have been spoiled by a string of brand new Audi’s / Range Rover Evoque… I feel if getting a family car, it may as well be an estate as I often prefer the estate shape of each model and the extra practicality is nice to have…
Thanks for the reply though, I definitely agree that buying / having a nice car does give you that warm fuzzy feeling!
Diesel is more of a necessity of what cars I’m looking at as there aren’t any petrol models in budget…
Thanks for the reply though, I definitely agree that buying / having a nice car does give you that warm fuzzy feeling!
Diesel is more of a necessity of what cars I’m looking at as there aren’t any petrol models in budget…
Edited by rallyeS2 on Sunday 27th June 17:38
I get the two year debt free thing, but if you lease, in two years time you'll have no car. I would buy the best I can afford now.
I'm not an anti-leaser, I've pcp ed leased and bought, but I'm happy knowing that I haven't got monthlies, I can choose when and where I get it serviced, I can put any tyres I like on and if I chip a bumper at the tip it costs me nothing
I'm not an anti-leaser, I've pcp ed leased and bought, but I'm happy knowing that I haven't got monthlies, I can choose when and where I get it serviced, I can put any tyres I like on and if I chip a bumper at the tip it costs me nothing
rallyeS2 said:
Anyone?! I’m even considering the Volvo / Land Rover all inclusive monthly leasing where you can change frequently when you get bored!
Have you priced up the Volvo scheme. I had a look and frankly I was staggered at how expensive it was. Obviously I don’t know your financial position, and “expensive” can be subjective, but it would be worth comparing like for like on the Volvo deal and PCP. wiliferus said:
Have you priced up the Volvo scheme. I had a look and frankly I was staggered at how expensive it was. Obviously I don’t know your financial position, and “expensive” can be subjective, but it would be worth comparing like for like on the Volvo deal and PCP.
I priced both up after that post and they are silly expensive!! At least the Land Rover one includes insurance whereas the Volvo one is only your first month insurance free! It is probably a similar price to PCP a nearly new one or as you say get a decent lease deal! I like the idea of changing frequently as I get bored but don’t do the miles to justify the expense!
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