Another lease or back to a used car?

[mattman]

I have a dilemma. Currently have a 2 year leased Scirocco coming to and end in a few months. Its been great - £170/mth, no problems, no costs other than insurance and fuel - no problem at all -just not very exciting

Can't decide what to do next - get another lease around £200/mth for something similar - needs to be an auto/DSG - which will be another two years 'safe' motoring, but dull

or

go back to the used car market with a personal loan around the same monthly and take the 'risk' of a big bill, but get a more exciting car.
Current thoughts are either Boxster S, Cayman, Z4, 3200GT
Or blow the budget and get something 'special' which would be an event to drive, but may chuck a massive bill at any time - Bentley GT, Mustang, Gran Turismo, 911

I'm mid 40's - have had 55 cars to date and never really had anything i would consider "special" or that may even appreciate to a degree (if purchased correctly). My eldest is learning to drive soon so having 4 seats is no longer a requirement, economy isn't a factor as although it will be a daily it won't do more than 7-8k a year

Anyone else have the same issue?

someone say mid-life crisis?

[MorganP104]

Surely a well-researched purchase of a Cayman won't give you too many problems.

Life's too short to drive cars that don't light your fire.

Get on your bank's website, and work out how much cash they'll let you have over three years, for around £170 per month.

Then buy the nicest Cayman you can, and enjoy it.

As an added bonus, you'll still own the car after the loan's paid off in three years (unlike the leasing arrangement, where you have to hand the car back).

[yajeed]

MorganP104 said:

Surely a well-researched purchase of a Cayman won't give you too many problems.

Life's too short to drive cars that don't light your fire.

Get on your bank's website, and work out how much cash they'll let you have over three years, for around £170 per month.

Then buy the nicest Cayman you can, and enjoy it.

As an added bonus, you'll still own the car after the loan's paid off in three years (unlike the leasing arrangement, where you have to hand the car back).

I'd suggest a Cayman is likely to throw up a few bills... I always seem to be refreshing Porsche suspension, air con and water rads. The overall cost will be higher too when you factor in servicing, so do the maths thoroughly. There's also the bore scoring concern (depending on whether you believe what you read).

From experience, a 3200GT is a fantastic car, when it works, and when it doesn't assume 1k to fix anything.

All that said, in your position, I'd buy something financially daft, and enjoy my car journeys again.

Edited to add: 200/month over 3 years will get you around 6.5k ish, which would mean you'd need to go for a PCP deal or similar to get you into a Cayman.

Edited by yajeed on Thursday 24th August 11:42

[mattman]

yajeed said:

I'd buy something financially daft, and enjoy my car journeys again.

Edited by yajeed on Thursday 24th August 11:42

This is the thought i currently have - obviously not entirely shared by the other half!

I like the Cayman, but also like a convertible, so thinking a Boxster S may be best suited? I prefer the 2005 on models with the facelifted front end - appears you can pick up a reasonable car with under 80k on it for around £10k Man maths suggests any car can throw a big bill at any time these days

[yajeed]

mattman said:

This is the thought i currently have - obviously not entirely shared by the other half!

I like the Cayman, but also like a convertible, so thinking a Boxster S may be best suited? I prefer the 2005 on models with the facelifted front end - appears you can pick up a reasonable car with under 80k on it for around £10k Man maths suggests any car can throw a big bill at any time these days

The '05 is a 987, and is more than a facelift (I much prefer the interior). If it has to be an S, I'd personally go for an early 05 3.2. Boxsters are less loved than the Cayman, so you'll get more for your money. I opted for a low mileage 2.7 which was a compromise, but it feels much tighter to drive than the older car I had with twice the mileage.

[designforlife]

I was in a similar position. I took out a £9k loan and bought an Integra DC5 at the start of the year.

Don't regret it one bit, its brilliant fun to drive, practical, and will still be worth what i paid for it in a few years time, if not more.

Buy something fun, life is too short.

[Jefferson Steelflex]

OP - exactly my recent dilemma and one I dissected as follows:

• My current lease car (Golf R) is a great point-to-point weapon but ultimately is very clinical (i.e. lacking character in my view)
• Another lease would tie me in for another 2 or 3 years. I'm only 18 months in to my Golf and already my circumstances have changed and it's no longer the choice i'd make if I was buying again
• There are too many other cars I want to try
• I can't do any work on a lease car, even basic mechanical tasks, and I miss getting my hands dirty

To that end, I've just bought a Porsche 996 C4S. It will replace the Golf and is the car I've wanted to buy for a long time. Pricey yes, but fun.

My daughter wants to learn to drive soon. I was asked to get a car she could learn in, but that's what I pay the driving school for, and although we all make sacrifices for our kids, that's a step too far for me.

If you no longer need a family car, treat yourself.

Edited by Jefferson Steelflex on Thursday 24th August 12:51

[mattman]

think my son would love me forever if he was able to learn in a 911

Nice to see i'm not the only one to face this, and its pretty convincing that i need the fun back!

off to research more on the Boxster/Cayman - if nothing else at least i can say i have a Porsche

perhaps one like this:
http://www.autotrader.co.uk/classified/advert/2017...

Edited by mattman on Thursday 24th August 13:35

[designforlife]

mattman said:

think my son would love me forever if he was able to learn in a 911

Nice to see i'm not the only one to face this, and its pretty convincing that i need the fun back!

off to research more on the Boxster/Cayman - if nothing else at least i can say i have a Porsche

perhaps one like this:
http://www.autotrader.co.uk/classified/advert/2017...

Edited by mattman on Thursday 24th August 13:35

Gotta say, when i found out you can get a cayman for £12k, i started thinking...and i'm a Jap car man through and through.

[akirk]

I had a Kuga for 3 years followed by an Octavia for 2 years
just replaced the Skoda with an e39 M5 - will cost me less money over 5 years (assuming it doesn't blow up - but is in top condition)

I know which is more fun!

[yajeed]

akirk said:

I had a Kuga for 3 years followed by an Octavia for 2 years
just replaced the Skoda with an e39 M5 - will cost me less money over 5 years (assuming it doesn't blow up - but is in top condition)

I know which is more fun!

Yep. I've concluded that leasing is the financially sensible option.

However, I've also concluded that I'm prepared to pay more and incur more risk to have a car I enjoy more.

Mind you - it's a good job really. I'm putting my Boxster up for sale soon due to an unexpected change in circumstances. With a lease, I'd be looking at a large cost to get out of the agreement, or being stuck with it. Ironically, I have habit of picking pups (thus the move to leasing previously), but this one is a genuine minter. :-(

[mattman]

I've also made the mistake of looking at 80's and 90's hot hatches with my rainbow tinted glasses on

Mk4 Xr3i or Pug 309 GTI as a daily, or even a 840 ci - oh crap, another can of worms open......

http://www.ebay.co.uk/itm/BMW-840ci-Sport-auto-1-o...



http://www.ebay.co.uk/itm/Peugeot-309-gti-/2826207...



http://www.ebay.co.uk/itm/FORD-ESCORT-XR3I-1985-C-...

[akirk]

yajeed said:

akirk said:

I had a Kuga for 3 years followed by an Octavia for 2 years
just replaced the Skoda with an e39 M5 - will cost me less money over 5 years (assuming it doesn't blow up - but is in top condition)

I know which is more fun!

Yep. I've concluded that leasing is the financially sensible option.

no - I am saying that the M5 which I now own will cost me a lot LESS than the leases did...
so you can pay more to have boring cars
or less to have a more exciting car

why - simply reliability / risk of bills - but I could rebuild the engine a couple of times on the M5 and still come out ahead on the prices...

[SiT]

Interesting to come across this thread as I was in the position to perhaps go the other way, had 40+ cars and had started to become tired of chopping and changing, associated jobs with a new (used) car like plate transfer etc.

Considered 2 years of hassle free motoring with a lease/pcp however don't want to find myself in the position several have mentioned on here - bored, change of circs etc.

A question if I may -

Lease is the same idea as PCP without ability to buy car right? So at the end you then have to find another chunk to put down on a new one?

That being the case why would someone choose a lease over a PCP (private individual not business)??

Have looked at a few deals Focus RS, Civic Type R and a mate has just ordered a 4C (£6k down and £350 a month!!!!) Still I am not sure if once in the agreement I would get fed up.

Si

[talksthetorque]

2 year lease on a Leon Curpa is currently the best deal with a bit of poke at the moment.
IMG SEAT Warrington have a Manual Hatch for £249 a month ( same rental first month too)
If that's too juicy and you want more character/power/etc, then getting a decent APR on a second hand PCP or as you said getting a personal loan for £200 a month ( I guess that means £2200 borrowed per year of loan roughly) and a four year loan gets you up to 9k
But you get the residual on your car ( minus any bills along the way)

If you're thinking Boxster/Cayman, then Z4s seem not to throw up big bills for the 2.5/3.0 models

[TJC46]

BMW Z4 3.0 ltr Si or better still Z4M convertible.

Plenty of power, bullet proof engine, use and enjoy it.

They really are just starting to appreciate and not depreciate.

So win, win all round.

Even if you just keep it for 12 months, get your hands dirty and do a few jobs, you will probably sell it for more than you bought it for !

Edited by TJC46 on Thursday 24th August 20:17

[mattman]

Si said:

A question if I may -

Lease is the same idea as PCP without ability to buy car right? So at the end you then have to find another chunk to put down on a new one?

That being the case why would someone choose a lease over a PCP (private individual not business)??

Have looked at a few deals Focus RS, Civic Type R and a mate has just ordered a 4C (£6k down and £350 a month!!!!) Still I am not sure if once in the agreement I would get fed up.

Si

In my case the wife was getting fed up of me swapping cars so the lease tied me in. I didn't set out for a scirocco, just an auto - was looking at golfs and the dealer offered me a deal I thought was good. £1500 down, £165 a month for a 2.0 TSi GT with 8000 miles a year for two years. So roughly £5000 for 2 years trouble free motoring, tax included, won't need a service, mot or tyres in that time either - my thinking at the time was that's less than the depreciation in buying one. I couldn't buy a new one for that price or pcp anywhere near those monthlies

It's a fine car, has all the toys, still looks good, goes well and hasn't given me any problems - but 2 years in it is enough.

[Fastlane]

Just another suggestion - you could buy a fun car for the weekends and lease a cheap car for day to day. That way you get the reliability of the lease car and have the fun car to look forward to driving on a nice day/pub/Europe etc.

Of course this may not be a viable option for you, but I went through a period of buying nice cars for day to day (968 Sport, VX220, VX220 turbo, Clio V6) and ended up selling them after 6-12 months as they were either too compromised or just started to feel less special on the daily grind. In the end I bought a 964 turbo for £20k(!) and a Vectra Estate for £10k and had both of them for over 5 years.

[Gareth1974]

SiT said:

A question if I may -

Lease is the same idea as PCP without ability to buy car right? So at the end you then have to find another chunk to put down on a new one?

That being the case why would someone choose a lease over a PCP (private individual not business)??

Have looked at a few deals Focus RS, Civic Type R and a mate has just ordered a 4C (£6k down and £350 a month!!!!) Still I am not sure if once in the agreement I would get fed up.

Si

A lease tends to include RFL, which PCPs don't. In general - and you will find the odd exception - it's cheaper to lease than PCP. Ignoring the final 'optional' payment on the PCP, add up the deposit and all payments and fees on the PCP, then add together the initial and all lease payments and fees and you'll see which is cheaper.

For example, my wife has just got a cracking lease deal on a Golf GTI inc optional paint, 3+23 @£228 per month, for 10000 miles p.a. so less than £6000 over the 2 years.

By contrast, the same car through VWs PCP costs £15000 over 2 years. This includes £1000 deposit contribution from VW. OK, haggle hard and you might get a couple more £0000 discount, but still more expensive.

[ZX10R NIN]

If you bought a Mustang I'd be surprised if you ended up with a big bill, actually you might when you start looking at the Roush/Hennessey catalogue