Lease verses depreciation proof motoring
Lease verses depreciation proof motoring
Author
Discussion

noway

Original Poster:

937 posts

196 months

Sunday 12th March 2017
quotequote all
Ive set aside enough cash to lease a decent car for the next 2-3 years (golf r,leon cupra,vrs etc) and rough figures seem to work out at approx £15k for 3 years @ 10k miles per year.I am also toying with the idea of buying outright something interesting that id enjoy and lose very little if anything as long as routine maintenence is kept up.

Ive been looking at 996`s but need to make my mind up soon as these seem to be rising.I realise there is a similar thread but my thoughts are to spend more than £20k if necessary and quite a bit more if there is money to be made (is this even possible?) maximum £50k..

Would a 997.2 be a better proposal or have you any better ideas..

thanks

edit:Ive managed to keep my daily alfa 156v6 going for the last 7 years for approx £7k including purchase price and i guess its now worth very little but id say its been pretty cheap motoring..

Edited by noway on Sunday 12th March 17:49

kiethton

14,259 posts

196 months

Sunday 12th March 2017
quotequote all
Can be done but with QE tapering, markets starting to price-in rate rises and the brexit cloud hanging above the markets it'll not be as plain sailing as before IMO

I have done this myself, bought a late E39 540i sport in 2013 for £2,900

It's cost me £300 in servicing, the same in tyres and £2k for an alternator and autobox rebuild. It was written off last week with an independent valuation of £5,500. Excluding the servicing and tyres im just about even, not bad for nearly 4 years use!

I have however kept it for £500 and have a good quote for me to fix, it'd then likely still be worth £2.5k, still about £1k up beyond this

noway

Original Poster:

937 posts

196 months

Sunday 12th March 2017
quotequote all
Im wondering if i should sit tight this year and see how the market changes (if at all) im in no rush as my daily Alfa is doing fine but with some big bills looming (cambelt/waterpump/idlers) due next year i fancy something new/different.Money in the bank is earning naff all atm unless your happy to go higher risk (im not) so man maths mean i can have a decent car and hopefully not lose much if anything..

davek_964

10,218 posts

191 months

Sunday 12th March 2017
quotequote all
Funnily enough, I had a long motorway drive today, saw plenty of '17 plate cars and thought : I prefer my choices.

The car I was in cost me just over £30k almost 2 years ago and seems to be at the bottom of its depreciation curve (it's 10 years old). Over 3 years it might total £5-£6k in servicing, maybe even a bit more - on the other hand if you buy a new £30k car you could have wiped out at least twice that in depreciation.
One of my other cars has gone up sufficiently in the 3 years I've owned it that it's been free motoring so far (by luck not shrewd choices).