Shed cash purchase or finance
Discussion
I know that this is a place where finance can be highly criticised, but I have a question, just to see what the general opinions are. I have chatted to a few work mates about this just to weigh up options but I’m still indecisive.
I need a new car which I can buy cash up to around 2-2.5k, or I’ve been offered a good APR on borrowing up to 10k (would prefer to spend 8).
In your experience, reliability and hassle wise, which would be the better option? Some people seem to think it would probably work out the same if broken down monthly because of older cars needing repairs.
It doesn’t seem the case any more that you can just go out and find a PD130 which is bulletproof cause the engines are all attached to old rust buckets!
Worth mentioning I do 18-22,000 miles per year which on one hand it would be good to pile miles on a shed, on the other hand I spend so long in the car it would be nice to be sat in a bit of comfort and relative luxury.
I need a new car which I can buy cash up to around 2-2.5k, or I’ve been offered a good APR on borrowing up to 10k (would prefer to spend 8).
In your experience, reliability and hassle wise, which would be the better option? Some people seem to think it would probably work out the same if broken down monthly because of older cars needing repairs.
It doesn’t seem the case any more that you can just go out and find a PD130 which is bulletproof cause the engines are all attached to old rust buckets!
Worth mentioning I do 18-22,000 miles per year which on one hand it would be good to pile miles on a shed, on the other hand I spend so long in the car it would be nice to be sat in a bit of comfort and relative luxury.
It depends - you could find a bargain shed who knows.
Then again the high mile cars on a certain thread here are eye opening/ worth considering a much newer car with mega miles.
No Doubt a Golf GTD is the car you need to go for - or the Passat version if you need an estate. Great cars modern enough plenty available.
Then again the high mile cars on a certain thread here are eye opening/ worth considering a much newer car with mega miles.
No Doubt a Golf GTD is the car you need to go for - or the Passat version if you need an estate. Great cars modern enough plenty available.
https://www.autotrader.co.uk/classified/advert/201...
This sort of thing 2010 model loads of options and honestly still looks good today
This sort of thing 2010 model loads of options and honestly still looks good today
An impossible dilema, if you were doing less mileage I might suggest looking at a lease car.
The risk of buying a second hand car is you just don't know what might potentially go wrong with it. If you are buying a 1K shed then you are just going to scrap it if something goes wrong. If you are spending £8k to £10k then you have no option but to get it fixed.
I have drivien sheds for the last 16 years and I have actually had relatively few problems. I have been thinking for months about getting something better and I only wanted to spend £5k. My issue here is that £5k is no-mans land, too expensive to scrap if something goes wrong, but too cheap to want to spend thousands of pounds chasing issues.
I looked at getting a brand new Dacia Sandero or Fiat Tipo (you could pick one up for £9999), but just sitting in one convined me that I could not put up with the car. As I was already mentally happy to spend £10K I looked at £10K BMWs, Audis and Mercedes but decided it was too much of a risk.
So in the end I ordering a leased Leon 1.5 SE Dynamic on a £149 6+23 deal with 10k miles a year.
But I am still not sure if this was a good idea as I have not had finace on a car in 16 years and the idea of paying £149 a month still feels strange.
The risk of buying a second hand car is you just don't know what might potentially go wrong with it. If you are buying a 1K shed then you are just going to scrap it if something goes wrong. If you are spending £8k to £10k then you have no option but to get it fixed.
I have drivien sheds for the last 16 years and I have actually had relatively few problems. I have been thinking for months about getting something better and I only wanted to spend £5k. My issue here is that £5k is no-mans land, too expensive to scrap if something goes wrong, but too cheap to want to spend thousands of pounds chasing issues.
I looked at getting a brand new Dacia Sandero or Fiat Tipo (you could pick one up for £9999), but just sitting in one convined me that I could not put up with the car. As I was already mentally happy to spend £10K I looked at £10K BMWs, Audis and Mercedes but decided it was too much of a risk.
So in the end I ordering a leased Leon 1.5 SE Dynamic on a £149 6+23 deal with 10k miles a year.
But I am still not sure if this was a good idea as I have not had finace on a car in 16 years and the idea of paying £149 a month still feels strange.
Any car will cost you money in some way or another!
Frankly I cannot be bothered with the hassle of running a 1k banger.
I lease and have done for some time now, currently on my 4th lease car. I don’t see that changing as I want a new car every x amount of years and leasing for me has been the most cost effective way of doing so.
I work away and have kids so I can’t afford a car letting me down while I’m not at home to sort it and the days of driveway repairs is beyond me and I have done all manor of driveway diy in the past engine swaps the lot.
So yeah pay your monies, make your choice.
Frankly I cannot be bothered with the hassle of running a 1k banger.
I lease and have done for some time now, currently on my 4th lease car. I don’t see that changing as I want a new car every x amount of years and leasing for me has been the most cost effective way of doing so.
I work away and have kids so I can’t afford a car letting me down while I’m not at home to sort it and the days of driveway repairs is beyond me and I have done all manor of driveway diy in the past engine swaps the lot.
So yeah pay your monies, make your choice.
. I'm running a Saab 9-5 Estate 2.2 Tid and have done for a few years. Purchased for £1450 and have spent a few quid on repairs but generally its pretty much trouble free. No Cambelt to worry about and easily gives 45mpg. Prior to this i ran a 9-3 2.2 Tid and that was very similar.
I average about 25k a year including several trips to south of france/italy/spain each year. Make sure you are friendly with a decent specialist and you will be fine.
https://www.ebay.co.uk/itm/Saab-9-5-2-2TiD-2004MY-...
Something like that i would go with, price is a bit high but it looks well looked after and has a nice MOT History.
I average about 25k a year including several trips to south of france/italy/spain each year. Make sure you are friendly with a decent specialist and you will be fine.
https://www.ebay.co.uk/itm/Saab-9-5-2-2TiD-2004MY-...
Something like that i would go with, price is a bit high but it looks well looked after and has a nice MOT History.
Edited by blue_haddock on Thursday 7th March 11:04
Joey Deacon said:
An impossible dilema, if you were doing less mileage I might suggest looking at a lease car.
The risk of buying a second hand car is you just don't know what might potentially go wrong with it. If you are buying a 1K shed then you are just going to scrap it if something goes wrong. If you are spending £8k to £10k then you have no option but to get it fixed.
I have drivien sheds for the last 16 years and I have actually had relatively few problems. I have been thinking for months about getting something better and I only wanted to spend £5k. My issue here is that £5k is no-mans land, too expensive to scrap if something goes wrong, but too cheap to want to spend thousands of pounds chasing issues.
I looked at getting a brand new Dacia Sandero or Fiat Tipo (you could pick one up for £9999), but just sitting in one convined me that I could not put up with the car. As I was already mentally happy to spend £10K I looked at £10K BMWs, Audis and Mercedes but decided it was too much of a risk.
So in the end I ordering a leased Leon 1.5 SE Dynamic on a £149 6+23 deal with 10k miles a year.
But I am still not sure if this was a good idea as I have not had finace on a car in 16 years and the idea of paying £149 a month still feels strange.
At the risk of being pedantic, your ‘true’ cost per month is £180, not £149 The risk of buying a second hand car is you just don't know what might potentially go wrong with it. If you are buying a 1K shed then you are just going to scrap it if something goes wrong. If you are spending £8k to £10k then you have no option but to get it fixed.
I have drivien sheds for the last 16 years and I have actually had relatively few problems. I have been thinking for months about getting something better and I only wanted to spend £5k. My issue here is that £5k is no-mans land, too expensive to scrap if something goes wrong, but too cheap to want to spend thousands of pounds chasing issues.
I looked at getting a brand new Dacia Sandero or Fiat Tipo (you could pick one up for £9999), but just sitting in one convined me that I could not put up with the car. As I was already mentally happy to spend £10K I looked at £10K BMWs, Audis and Mercedes but decided it was too much of a risk.
So in the end I ordering a leased Leon 1.5 SE Dynamic on a £149 6+23 deal with 10k miles a year.
But I am still not sure if this was a good idea as I have not had finace on a car in 16 years and the idea of paying £149 a month still feels strange.
The Voice said:
Joey Deacon said:
An impossible dilema, if you were doing less mileage I might suggest looking at a lease car.
The risk of buying a second hand car is you just don't know what might potentially go wrong with it. If you are buying a 1K shed then you are just going to scrap it if something goes wrong. If you are spending £8k to £10k then you have no option but to get it fixed.
I have drivien sheds for the last 16 years and I have actually had relatively few problems. I have been thinking for months about getting something better and I only wanted to spend £5k. My issue here is that £5k is no-mans land, too expensive to scrap if something goes wrong, but too cheap to want to spend thousands of pounds chasing issues.
I looked at getting a brand new Dacia Sandero or Fiat Tipo (you could pick one up for £9999), but just sitting in one convined me that I could not put up with the car. As I was already mentally happy to spend £10K I looked at £10K BMWs, Audis and Mercedes but decided it was too much of a risk.
So in the end I ordering a leased Leon 1.5 SE Dynamic on a £149 6+23 deal with 10k miles a year.
But I am still not sure if this was a good idea as I have not had finace on a car in 16 years and the idea of paying £149 a month still feels strange.
At the risk of being pedantic, your ‘true’ cost per month is £180, not £149 The risk of buying a second hand car is you just don't know what might potentially go wrong with it. If you are buying a 1K shed then you are just going to scrap it if something goes wrong. If you are spending £8k to £10k then you have no option but to get it fixed.
I have drivien sheds for the last 16 years and I have actually had relatively few problems. I have been thinking for months about getting something better and I only wanted to spend £5k. My issue here is that £5k is no-mans land, too expensive to scrap if something goes wrong, but too cheap to want to spend thousands of pounds chasing issues.
I looked at getting a brand new Dacia Sandero or Fiat Tipo (you could pick one up for £9999), but just sitting in one convined me that I could not put up with the car. As I was already mentally happy to spend £10K I looked at £10K BMWs, Audis and Mercedes but decided it was too much of a risk.
So in the end I ordering a leased Leon 1.5 SE Dynamic on a £149 6+23 deal with 10k miles a year.
But I am still not sure if this was a good idea as I have not had finace on a car in 16 years and the idea of paying £149 a month still feels strange.
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