Lease or Cash (help brain hurts)!

[Fatherofdragons]

Afraid it's another one of 'those' threads...

So long story short we currently have 18 month old identical twins and for some unknown reason thought it would be a good idea to 'go again' so wife is due in June with another - 3 boys under 2...So we are in the land of needing 3 isofix mountings which generally means MPV soccer mom territory...ugh.

Situation is that when boys arrived we got a really good rate personal loan and bought a nearly new Kadjar for 15k over 4 years. About 10k outstanding and it's costing us £333 per month. Cracking motor happy days, but it's not big enough..

Option 1 is for us to px or sell the Kadjar for about 11k. Then use that money plus about £1500 of savings to reinvest into what's looking like a 64 plate C4 Grand Picasso (exclusive plus) at around 15k miles. Positives are that monthly payments stay the same and some equity at the end (hard to say but maybe about 7k). So cost of this option over remaining 30 months ish of loan about 4.5k. Negatives are the car makes me want to kill myself plus any maintenance costs etc.

Option 2 is to sell the Kadjar now and bank the £11k, but keep it aside as a slush fund to match the remaining repayments on loan. Then look to go for a leasing deal on a new Peugeot 5008 (c4 in a nicer wrapper) which is coming in at 1k upfront, 300 per month for 2 years on 10k miles. We get more money for the kadjar that way and avoid further depreciation and I get something new which is slightly lower on the kill-self-ometer.

Am I missing something on the man maths? It's making my head hurt and can't quite get my head around why the wife is adamant getting a new car is extravagant...

Thanks in advance and hope this makes sense (I've now gone 18 months on 3 hours sleep per night so excuse any mistakes and unicorns)

[ZX10R NIN]

Or Sell the Kadjar buy an older MPV (but still nicely spec'd & relatively low miles) pocket the change & have no repayments leaving you an extra £300 a month to spend elsewhere.

Mazda 6 Sport

https://www.autotrader.co.uk/classified/advert/201...

https://www.autotrader.co.uk/classified/advert/201...

Ford S Max Titanium

https://www.autotrader.co.uk/classified/advert/201...

[AlwynMike]

If you don't want to or can't get rid of the Codger, look at the Multimac child seat system. Get 3 in the back easily but not cheap.

[Fatherofdragons]

Thanks - interesting...

I suppose am confused as to how the older motor would benefit me as I'm still repaying the loan, so even if I sold the kadjar (latest valuation now 10k...) I in theory have 4k left to set aside however this doesn't take into account depreciation of the new car? plus if I'm being honest running something older isn't too appealing (second car is a 13 year old mini which has been a money pit)

Multimac is super interesting...will look at that.

Feel like I'm missing a no doubt very obvious trick here..

I could just sell the kadjar and pay off the loan I suppose and then go into a new 'clean' pcp or lease arrangement?? It feels like the depreciation vs the value of the car to sell on works out over the period as not far off what I would pay for a new lease deal?

Like I said...brain hurts.

[SpanishTony]

Fatherofdragons said:

Thanks - interesting...


Like I said...brain hurts.

Yeah, should have thought about that before you dusted off the old Barry White CDs!

[The Cardinal]

A few questions:

- How often will you travel as a group of five? How many days a year will this be?
- The Kadjar already has 3 x Isofix mounts, i.e. 1x front passenger and 2x outer rear. How essential are 3x mounts in the rear? Can a grown-up travel in the middle rear seat?
- Would you be happy with using a non-Isofix seat for a third seat, if it has to be in the rear and you travel together?

Changing cars does seem like a very expensive way to add a third Isofix point in the rear.

[nickfrog]

Fatherofdragons said:

Then look to go for a leasing deal on a new Peugeot 5008 (c4 in a nicer wrapper) which is coming in at 1k upfront, 300 per month for 2 years on 10k miles.

That is NOT going to help you but a couple of months ago, good spec 5008 were under £250/month amortised (ie including any deposit+fees), ie almost£100 less than the cost above. Which would suddenly make things a lot easier for you from a decision POV

They may get back to that price point if Peugeot decide to support (ie discount) them again.

Obviously an 8 year old car should prove a little cheaper overall if you are that way inclined.

[Fatherofdragons]

Thanks folks - some really good stuff here this is a great resource!

To answer questions

1 - wife has developed a complex about having baby in front seat isofix, strange I know but I'm definitely not up for arguing the point with a pregnant lady!
2 - part of the reason behind bigger car is bigger boot, we would rarely be using if ever the 7 seats but need the boot space for a humongous triple pram monstrosity
3 - gutted about the increased Peugeot price, any sense of does this stuff change quarterly etc?
4 - it was Mick Hucknall not Barry White, ginger haired virility king is the way forward

I suppose the point is do you think it's worth it to tie money up in depreciating asset with possibly an unknown bung at the end of it or go for a new car but get nothing back...? Aaaaarghh

[maz8062]

Fatherofdragons said:

Afraid it's another one of 'those' threads...

So long story short we currently have 18 month old identical twins and for some unknown reason thought it would be a good idea to 'go again' so wife is due in June with another - 3 boys under 2...So we are in the land of needing 3 isofix mountings which generally means MPV soccer mom territory...ugh.

Situation is that when boys arrived we got a really good rate personal loan and bought a nearly new Kadjar for 15k over 4 years. About 10k outstanding and it's costing us £333 per month. Cracking motor happy days, but it's not big enough..

Option 1 is for us to px or sell the Kadjar for about 11k. Then use that money plus about £1500 of savings to reinvest into what's looking like a 64 plate C4 Grand Picasso (exclusive plus) at around 15k miles. Positives are that monthly payments stay the same and some equity at the end (hard to say but maybe about 7k). So cost of this option over remaining 30 months ish of loan about 4.5k. Negatives are the car makes me want to kill myself plus any maintenance costs etc.

Option 2 is to sell the Kadjar now and bank the £11k, but keep it aside as a slush fund to match the remaining repayments on loan. Then look to go for a leasing deal on a new Peugeot 5008 (c4 in a nicer wrapper) which is coming in at 1k upfront, 300 per month for 2 years on 10k miles. We get more money for the kadjar that way and avoid further depreciation and I get something new which is slightly lower on the kill-self-ometer.

Am I missing something on the man maths? It's making my head hurt and can't quite get my head around why the wife is adamant getting a new car is extravagant...

Thanks in advance and hope this makes sense (I've now gone 18 months on 3 hours sleep per night so excuse any mistakes and unicorns)

Your man maths are spot on, the only danger that I would caution against is spending the proceeds of the sale of the Kadjar on something else and effectively being lumbered with payments of circa £630 for the lease car.

The best way to do it would be to sell the Kadjar and use the proceeds to buy another car without adding too much debt to your household.

Good luck

[nickfrog]

Fatherofdragons said:

3 - gutted about the increased Peugeot price, any sense of does this stuff change quarterly etc?

Yes they are normally quarterly campaigns and quite unpredictable as very yield managed. They'll put up 100 cars at silly prices but if you miss them, you lose.

It's a bit of a game and can be a little time consuming but when you do catch a silly deal, it's quite satisfying.

https://www.contracthireandleasing.com

or the Whatcar lease section

or both !!

EDIT Kodiaq 2.0 TDI SE 4X4 are around £270 amortised (including fees and deposit) - https://www.contracthireandleasing.com/independent...

Any proceeds from the Kadjar can then be put towards reducing debt.

Edited by nickfrog on Friday 16th February 15:51

[Fatherofdragons]

Thanks folks - kodiaq is prob a better car isn't it but the 3 individual seats in back of 5008 swings it for practical reasons (skoda felt narrower when we saw it) plus IMO 5008 looks a bit better inside and out.

I think we are landing on webuyanycar-ing the Kadjar and just paying off the loan. Then plump for the 5008 lease deal. Been searching for ages and think about £288 allure 3+23 @10k is best deal out there. Frustrating given sounds like have missed a better one but with lead times absolutely need to make sure it is here in time for dragon number 3 in June so can't hang about..

[nickfrog]

Fatherofdragons said:

Thanks folks - kodiaq is prob a better car isn't it but the 3 individual seats in back of 5008 swings it for practical reasons (skoda felt narrower when we saw it)

Hold on, I though the Kodiaq would come with VarioFlex seats as std but it looks like it's not the case even as an option.

In that case then look at the Karoq as they are std from SEL trim up or as option on SE.

Cheaper too - ours is coming next month. You are looking at £255 amortised for a SE Tech (more than £50 less than the 5008 above), even with the Varioflex, but for the 1.0T

https://www.contracthireandleasing.com/independent...


Or £267 amortised for a SEL (that would be my choice) https://www.contracthireandleasing.com/independent...

Edited by nickfrog on Saturday 17th February 12:57

[Fatherofdragons]

nickfrog said:

Hold on, I though the Kodiaq would come with VarioFlex seats as std but it looks like it's not the case even as an option.

In that case then look at the Karoq as they are std from SEL trim up or as option on SE.

Cheaper too - ours is coming next month. You are looking at £255 amortised for a SE Tech (more than £50 less than the 5008 above), even with the Varioflex, but for the 1.0T

https://www.contracthireandleasing.com/independent...


Or £267 amortised for a SEL (that would be my choice) https://www.contracthireandleasing.com/independent...

Edited by nickfrog on Saturday 17th February 12:57

Looks very interesting - boot space might be an issue (you need to see this triple pram thing it's ridiculous - google 'trippy pram'!) but if it fits then Karoq looks interesting indeed..

[The Cardinal]

Fatherofdragons said:

To answer questions

1 - wife has developed a complex about having baby in front seat isofix, strange I know but I'm definitely not up for arguing the point with a pregnant lady!

But the Kadjar does have Isofix in the front, doesn't it?

[Fatherofdragons]

The Cardinal said:

But the Kadjar does have Isofix in the front, doesn't it?

Yah - but just have the twins at the moment so they are both in the back and with another on the way need the space, so with the boss's aversion to baby in front isofix plus need for extra boot space means we need to change...looks like we missed out on some great 5008 deals a few months back too..

[Sheepshanks]

Fatherofdragons said:

The Cardinal said:

But the Kadjar does have Isofix in the front, doesn't it?

Yah -

Does it? It's not in the lists of cars with 3 isofix points, and from a quick look at the Renault website it says isofix on the two outer rear seats.

[Fatherofdragons]

Sheepshanks said:

Does it? It's not in the lists of cars with 3 isofix points, and from a quick look at the Renault website it says isofix on the two outer rear seats.

To be honest I hadn't checked knowing it wouldn't be right for us even if it did (and my default assumption on here is that everyone else is more knowledgeable). Just went to check them and defo no front isofix - so it's back to stick or twist, plump for current deal on 5008 or hold nerve until (if) prices change with the risk of delivery dates being tight for baby arriving in June...

[nickfrog]

Fatherofdragons said:

Looks very interesting - boot space might be an issue (you need to see this triple pram thing it's ridiculous - google 'trippy pram'!)

Yes could be an issue - you need to take the pram to a Skoda dealer - make sure you test on a car with VarioFlex seats as the system also allows for a bigger boot (at the detriments of rear leg room that you may or may not need for the little ones)