New car options
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Hi,
I’d really appreciate some advice on best way to finance and purchasing new car.
Looking for a suv, I do around 20k miles/ year and it also needs to be able to tow a caravan. Budget of £500/month but minimal deposit upfront.
Not sure if PCP or leasing is the best way to go or to get a loan and buy second hand?
Any advice greatfully received!
I’d really appreciate some advice on best way to finance and purchasing new car.
Looking for a suv, I do around 20k miles/ year and it also needs to be able to tow a caravan. Budget of £500/month but minimal deposit upfront.
Not sure if PCP or leasing is the best way to go or to get a loan and buy second hand?
Any advice greatfully received!
Only way to know is to crunch the numbers through various car buying websites, only thing I would say is I think with your mileage being circa 20k per annum leasing or PCP would get expensive quite quickly because they normally base deals on lower miles, I think 8-10k is a normal starting point.
If it was me I'd go on a comparison website for personal loans and look at the max you can loan for your £500 per month over your preferred term length and see what your total loan figure is you can borrow, from there see what cars you like and meet your requirements in that budget, both new and used. Once you have an idea of what you want look how PCP and PCH deals compare pricewise and you have your answer over how to finance it.
If it was me I'd go on a comparison website for personal loans and look at the max you can loan for your £500 per month over your preferred term length and see what your total loan figure is you can borrow, from there see what cars you like and meet your requirements in that budget, both new and used. Once you have an idea of what you want look how PCP and PCH deals compare pricewise and you have your answer over how to finance it.
Leasing can be good if manufactures drive offers. So you can get a lot of car for low fixed rate.
Quick search on personal lease.
Skoda Kodiaq 2.0tdi on 20K miles on a 3+36 for around £375 pm inc VAT
VW Touareg 3.0tdi 20K miles on a 3+48 for £520 pm inc VAT
Range Rover Velar 2.0 petrol 250bhp 20K miles on a 3+48 for £525 pm inc VAT
Downside, any extras increase the price severely so a Tow bar could add £20 - £30 a month for example
Quick search on personal lease.
Skoda Kodiaq 2.0tdi on 20K miles on a 3+36 for around £375 pm inc VAT
VW Touareg 3.0tdi 20K miles on a 3+48 for £520 pm inc VAT
Range Rover Velar 2.0 petrol 250bhp 20K miles on a 3+48 for £525 pm inc VAT
Downside, any extras increase the price severely so a Tow bar could add £20 - £30 a month for example
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