Discussion
Hi All,
I am planning on buying an Aston in the next year or so and will be looking at a 2012/13 model year DB9.
Looking at the finance offered by a lot of the dealers seems very high.
What finance companies have people used/would recommend?
This will be a big purchase for me and this is my dream car so I want to make sure everything goes smoothly.
I am planning on buying an Aston in the next year or so and will be looking at a 2012/13 model year DB9.
Looking at the finance offered by a lot of the dealers seems very high.
What finance companies have people used/would recommend?
This will be a big purchase for me and this is my dream car so I want to make sure everything goes smoothly.
I am in a similar situation, me and the wife are throw everything at the mortgage and once gone , look to get a Vantage S.
The finance offered by the dealers is just not competitive, so I will be getting 20 % of the car value saved the rest from a bank loan
I just could not bear the embarrassment of going to a dealer and having the finance reject, no reason why it should but with computers you just never know, so would rather know the money is in the bank before I go shopping
That’s the plan, whether it work out like that I don’t know but I have been planning this for 3 and a half years after deciding I wanted an Aston, after seeeing that V12 on top gear
The finance offered by the dealers is just not competitive, so I will be getting 20 % of the car value saved the rest from a bank loan
I just could not bear the embarrassment of going to a dealer and having the finance reject, no reason why it should but with computers you just never know, so would rather know the money is in the bank before I go shopping
That’s the plan, whether it work out like that I don’t know but I have been planning this for 3 and a half years after deciding I wanted an Aston, after seeeing that V12 on top gear
Edited by kevin_cambs_uk on Sunday 26th December 12:59
Finance is a very personal thing. It’s highly unlikely one person’s situation or attitude towards borrowing money will be the same as the next person’s. So these thoughts are only my personal experiences:
1) No Aston Martin is essential. A shelter, food, pensions and other things are. No car should sacrifice everyday expenses - it’s not worth it as you’ll not enjoy the car as much and you (or, more likely, a significant other) will start resenting it.
2) Cars are not good investments. Only a tiny number of cars can truly bring more money back. But most people who achieve this are lucky, or forgot to add serving, insurance, etc., costs.
3) How much would you enjoy the car? If a first time Aston, a £50k early Vantage or DB9 with the piece of mind of 12 months MD Timeless warranty bought outright is likely to give 90% of the fun and pride as a £150k model financed to the max. It would be a bargain, in comparison, and you’d likely use it more, which is the whole point of having one. Every Aston is special.
4) Save up as much as you can and use the year or two to research, test drive, ask owners, etc. The building anticipation will only make the day of collection more special.
5) Don’t forget to factor in other costs. I set around £4k aside for servicing, insurance, tyres, road tax and AM Timeless warranty extension. Even if you’re not inclined towards a warranty, you’re likely wise to put money aside for any nasty surprises. Moderns Aston (cars that came after the DB7 and Mk1 Vanquish) have proven to be reliable. I have no experience of the earlier Aston ownership. And you’re likely to pamper it, so when you buy it, you may be paying Specialised Covers £400 for an outdoor cover, another £100-odd for a battery conditioner, etc.
6) Astons have a drink problem. But you didn’t expect anything else, did you? So factor in 17-25mpg for non-turbo V8 and V12 models. That’s £65-£95 per 250 miles at current unleaded prices. If you forgot to have money to one side for go-juice, you’re buying a very expensive garden ornament. You can’t get finance for petrol!
7) Be realistic with what you’re comfortable borrowing; the equation has financial security one one side, and “you only live once” on the other. After all the words of money caution, you can’t take it with you, either!
8) The 6.9% rate offered by Aston (via BMW finance) is neither amazing, nor bad in my opinion. But it does have some benefits; it’s really straightforward via a MD; it’s a fixed APR (variable rates could go up this year?); no big penalties for early or partial repayment. You can probably hand it back early without crippling yourself, so long as the deposit was not minuscule.
9) If you fall in love with the ownership experience (and you should!), factor in saving the final lump sum as you go along. That could equate to being the same as the monthly payments, ie. not insignificant. For example, you could do 1/3 deposit, 1/3 monthly payments over 3 years and 1/3 final chunk. It’s easy to forget saving for the latter if you want to keep it.
10) Ensure finance allows you to do the miles you want to. AM finance, by default, may limit you to 6k miles/year with expensive overruns on that figure. Are you thinking of using it as a daily? That may not be enough.
11) If you do go for AM finance, try to repay early if you come into money. It could save you a major bit of the finance costs!
12) Bonus ball; even if you can access all the money needed outright, do the sums with tax liabilities. It could well be that using AM finance and paying back early is less costly than a one-off tax hit on accessing savings or other income streams. But be disciplined and prepared with your finances and planning.
Your mileage may vary! But don’t every forget the goal of actually living a life and the potential of boring the incontinence pants off other residential home dwellers in your later years...
1) No Aston Martin is essential. A shelter, food, pensions and other things are. No car should sacrifice everyday expenses - it’s not worth it as you’ll not enjoy the car as much and you (or, more likely, a significant other) will start resenting it.
2) Cars are not good investments. Only a tiny number of cars can truly bring more money back. But most people who achieve this are lucky, or forgot to add serving, insurance, etc., costs.
3) How much would you enjoy the car? If a first time Aston, a £50k early Vantage or DB9 with the piece of mind of 12 months MD Timeless warranty bought outright is likely to give 90% of the fun and pride as a £150k model financed to the max. It would be a bargain, in comparison, and you’d likely use it more, which is the whole point of having one. Every Aston is special.
4) Save up as much as you can and use the year or two to research, test drive, ask owners, etc. The building anticipation will only make the day of collection more special.
5) Don’t forget to factor in other costs. I set around £4k aside for servicing, insurance, tyres, road tax and AM Timeless warranty extension. Even if you’re not inclined towards a warranty, you’re likely wise to put money aside for any nasty surprises. Moderns Aston (cars that came after the DB7 and Mk1 Vanquish) have proven to be reliable. I have no experience of the earlier Aston ownership. And you’re likely to pamper it, so when you buy it, you may be paying Specialised Covers £400 for an outdoor cover, another £100-odd for a battery conditioner, etc.
6) Astons have a drink problem. But you didn’t expect anything else, did you? So factor in 17-25mpg for non-turbo V8 and V12 models. That’s £65-£95 per 250 miles at current unleaded prices. If you forgot to have money to one side for go-juice, you’re buying a very expensive garden ornament. You can’t get finance for petrol!
7) Be realistic with what you’re comfortable borrowing; the equation has financial security one one side, and “you only live once” on the other. After all the words of money caution, you can’t take it with you, either!
8) The 6.9% rate offered by Aston (via BMW finance) is neither amazing, nor bad in my opinion. But it does have some benefits; it’s really straightforward via a MD; it’s a fixed APR (variable rates could go up this year?); no big penalties for early or partial repayment. You can probably hand it back early without crippling yourself, so long as the deposit was not minuscule.
9) If you fall in love with the ownership experience (and you should!), factor in saving the final lump sum as you go along. That could equate to being the same as the monthly payments, ie. not insignificant. For example, you could do 1/3 deposit, 1/3 monthly payments over 3 years and 1/3 final chunk. It’s easy to forget saving for the latter if you want to keep it.
10) Ensure finance allows you to do the miles you want to. AM finance, by default, may limit you to 6k miles/year with expensive overruns on that figure. Are you thinking of using it as a daily? That may not be enough.
11) If you do go for AM finance, try to repay early if you come into money. It could save you a major bit of the finance costs!
12) Bonus ball; even if you can access all the money needed outright, do the sums with tax liabilities. It could well be that using AM finance and paying back early is less costly than a one-off tax hit on accessing savings or other income streams. But be disciplined and prepared with your finances and planning.
Your mileage may vary! But don’t every forget the goal of actually living a life and the potential of boring the incontinence pants off other residential home dwellers in your later years...
nickv12 said:
Finance is a very personal thing. It’s highly unlikely one person’s situation or attitude towards borrowing money will be the same as the next person’s. So these thoughts are only my personal experiences:
1) No Aston Martin is essential. A shelter, food, pensions and other things are. No car should sacrifice everyday expenses - it’s not worth it as you’ll not enjoy the car as much and you (or, more likely, a significant other) will start resenting it.
2) Cars are not good investments. Only a tiny number of cars can truly bring more money back. But most people who achieve this are lucky, or forgot to add serving, insurance, etc., costs.
3) How much would you enjoy the car? If a first time Aston, a £50k early Vantage or DB9 with the piece of mind of 12 months MD Timeless warranty bought outright is likely to give 90% of the fun and pride as a £150k model financed to the max. It would be a bargain, in comparison, and you’d likely use it more, which is the whole point of having one. Every Aston is special.
4) Save up as much as you can and use the year or two to research, test drive, ask owners, etc. The building anticipation will only make the day of collection more special.
5) Don’t forget to factor in other costs. I set around £4k aside for servicing, insurance, tyres, road tax and AM Timeless warranty extension. Even if you’re not inclined towards a warranty, you’re likely wise to put money aside for any nasty surprises. Moderns Aston (cars that came after the DB7 and Mk1 Vanquish) have proven to be reliable. I have no experience of the earlier Aston ownership. And you’re likely to pamper it, so when you buy it, you may be paying Specialised Covers £400 for an outdoor cover, another £100-odd for a battery conditioner, etc.
6) Astons have a drink problem. But you didn’t expect anything else, did you? So factor in 17-25mpg for non-turbo V8 and V12 models. That’s £65-£95 per 250 miles at current unleaded prices. If you forgot to have money to one side for go-juice, you’re buying a very expensive garden ornament. You can’t get finance for petrol!
7) Be realistic with what you’re comfortable borrowing; the equation has financial security one one side, and “you only live once” on the other. After all the words of money caution, you can’t take it with you, either!
8) The 6.9% rate offered by Aston (via BMW finance) is neither amazing, nor bad in my opinion. But it does have some benefits; it’s really straightforward via a MD; it’s a fixed APR (variable rates could go up this year?); no big penalties for early or partial repayment. You can probably hand it back early without crippling yourself, so long as the deposit was not minuscule.
9) If you fall in love with the ownership experience (and you should!), factor in saving the final lump sum as you go along. That could equate to being the same as the monthly payments, ie. not insignificant. For example, you could do 1/3 deposit, 1/3 monthly payments over 3 years and 1/3 final chunk. It’s easy to forget saving for the latter if you want to keep it.
10) Ensure finance allows you to do the miles you want to. AM finance, by default, may limit you to 6k miles/year with expensive overruns on that figure. Are you thinking of using it as a daily? That may not be enough.
11) If you do go for AM finance, try to repay early if you come into money. It could save you a major bit of the finance costs!
12) Bonus ball; even if you can access all the money needed outright, do the sums with tax liabilities. It could well be that using AM finance and paying back early is less costly than a one-off tax hit on accessing savings or other income streams. But be disciplined and prepared with your finances and planning.
Your mileage may vary! But don’t every forget the goal of actually living a life and the potential of boring the incontinence pants off other residential home dwellers in your later years...
Thanks for the lengthy and detailed response. 1) No Aston Martin is essential. A shelter, food, pensions and other things are. No car should sacrifice everyday expenses - it’s not worth it as you’ll not enjoy the car as much and you (or, more likely, a significant other) will start resenting it.
2) Cars are not good investments. Only a tiny number of cars can truly bring more money back. But most people who achieve this are lucky, or forgot to add serving, insurance, etc., costs.
3) How much would you enjoy the car? If a first time Aston, a £50k early Vantage or DB9 with the piece of mind of 12 months MD Timeless warranty bought outright is likely to give 90% of the fun and pride as a £150k model financed to the max. It would be a bargain, in comparison, and you’d likely use it more, which is the whole point of having one. Every Aston is special.
4) Save up as much as you can and use the year or two to research, test drive, ask owners, etc. The building anticipation will only make the day of collection more special.
5) Don’t forget to factor in other costs. I set around £4k aside for servicing, insurance, tyres, road tax and AM Timeless warranty extension. Even if you’re not inclined towards a warranty, you’re likely wise to put money aside for any nasty surprises. Moderns Aston (cars that came after the DB7 and Mk1 Vanquish) have proven to be reliable. I have no experience of the earlier Aston ownership. And you’re likely to pamper it, so when you buy it, you may be paying Specialised Covers £400 for an outdoor cover, another £100-odd for a battery conditioner, etc.
6) Astons have a drink problem. But you didn’t expect anything else, did you? So factor in 17-25mpg for non-turbo V8 and V12 models. That’s £65-£95 per 250 miles at current unleaded prices. If you forgot to have money to one side for go-juice, you’re buying a very expensive garden ornament. You can’t get finance for petrol!
7) Be realistic with what you’re comfortable borrowing; the equation has financial security one one side, and “you only live once” on the other. After all the words of money caution, you can’t take it with you, either!
8) The 6.9% rate offered by Aston (via BMW finance) is neither amazing, nor bad in my opinion. But it does have some benefits; it’s really straightforward via a MD; it’s a fixed APR (variable rates could go up this year?); no big penalties for early or partial repayment. You can probably hand it back early without crippling yourself, so long as the deposit was not minuscule.
9) If you fall in love with the ownership experience (and you should!), factor in saving the final lump sum as you go along. That could equate to being the same as the monthly payments, ie. not insignificant. For example, you could do 1/3 deposit, 1/3 monthly payments over 3 years and 1/3 final chunk. It’s easy to forget saving for the latter if you want to keep it.
10) Ensure finance allows you to do the miles you want to. AM finance, by default, may limit you to 6k miles/year with expensive overruns on that figure. Are you thinking of using it as a daily? That may not be enough.
11) If you do go for AM finance, try to repay early if you come into money. It could save you a major bit of the finance costs!
12) Bonus ball; even if you can access all the money needed outright, do the sums with tax liabilities. It could well be that using AM finance and paying back early is less costly than a one-off tax hit on accessing savings or other income streams. But be disciplined and prepared with your finances and planning.
Your mileage may vary! But don’t every forget the goal of actually living a life and the potential of boring the incontinence pants off other residential home dwellers in your later years...
Point 3 is almost exactly my situation. Point 2 is my thoughts and why I want to finance but make sure I get the best deal.
Point 6 was a given
Unfortunately if my situation changed the car would be the first thing to go. As emotional as it would be.
Point 5 makes me feel better about cost of ownership as I thought yearly would be a lot more.
I would be doing road trips to events etc but I wouldn't have thought it would be more than 6k a year.
Thanks again.
Edited by Controller39 on Sunday 26th December 14:43
Edited by Controller39 on Sunday 26th December 14:43
nickv12 said:
Finance is a very personal thing.
2) Cars are not good investments. Only a tiny number of cars can truly bring more money back. But most people who achieve this are lucky, or forgot to add serving, insurance, etc., costs.
3) How much would you enjoy the car? If a first time Aston, a £50k early Vantage or DB9 with the piece of mind of 12 months MD Timeless warranty bought outright is likely to give 90% of the fun and pride as a £150k model financed to the max. It would be a bargain, in comparison, and you’d likely use it more, which is the whole point of having one. Every Aston is special. ...
2) Cars are not good investments. Only a tiny number of cars can truly bring more money back. But most people who achieve this are lucky, or forgot to add serving, insurance, etc., costs.
3) How much would you enjoy the car? If a first time Aston, a £50k early Vantage or DB9 with the piece of mind of 12 months MD Timeless warranty bought outright is likely to give 90% of the fun and pride as a £150k model financed to the max. It would be a bargain, in comparison, and you’d likely use it more, which is the whole point of having one. Every Aston is special. ...
Lots of wise advice Nick.
I was particularly taken by 2) and 3).
10 years ago I bought a 3 year old 4.7 V8V from an MD for £58k at 8k miles. It was the exact spec. which I would have specified new, looked perfect, so although I could have bought a new one at nearly £100,000, why would I?
I had expected that it might depreciate like any other car (eg. that same money spent instead on a Mercedes E-Class, would by now be worth nothing), but the retail prices now for low mileage examples, surprisingly seem to be almost £50k.
Bi-annual maintenance has cost a fair bit in recent years, to include a twin plate clutch with lighter flywheel, a set of Michelin PS4 and Cat and Airbox mods. Overall, 10 years of wonderful enjoyment and hopefully with many more years still to come.
Dewi 2 said:
Lots of wise advice Nick.
I was particularly taken by 2) and 3).
10 years ago I bought a 3 year old 4.7 V8V from an MD for £58k at 8k miles. It was the exact spec. which I would have specified new, looked perfect, so although I could have bought a new one at nearly £100,000, why would I?
I had expected that it might depreciate like any other car (eg. that same money spent instead on a Mercedes E-Class, would by now be worth nothing), but the retail prices now for low mileage examples, surprisingly seem to be almost £50k.
Bi-annual maintenance has cost a fair bit in recent years, to include a twin plate clutch with lighter flywheel, a set of Michelin PS4 and Cat and Airbox mods. Overall, 10 years of wonderful enjoyment and hopefully with many more years still to come.
kevin_cambs_uk said:
I am in a similar situation, me and the wife are throw everything at the mortgage and once gone , look to get a Vantage S.
Why not keep or extend the mortgage at well under 2%, then pay it off at the rate you would have done on finance? I can't see the point in paying off a cheap loan to take out a more expensive one.Edited by kevin_cambs_uk on Sunday 26th December 12:59
KernowShep said:
kevin_cambs_uk said:
I am in a similar situation, me and the wife are throw everything at the mortgage and once gone , look to get a Vantage S.
Why not keep or extend the mortgage at well under 2%, then pay it off at the rate you would have done on finance? I can't see the point in paying off a cheap loan to take out a more expensive one.Edited by kevin_cambs_uk on Sunday 26th December 12:59
kevin_cambs_uk said:
We have discussed that and I prefer to know the house is paid off, it’s more of a psychological thing knowing we are mortgage free??
110% with you on this. You may lose a few £k in additional interest charges over the years, but the feeling of security tops that ever day. IMHO.KernowShep said:
Why not keep or extend the mortgage at well under 2%, then pay it off at the rate you would have done on finance? I can't see the point in paying off a cheap loan to take out a more expensive one.
I did this when I was in my mid 20's, although the mortgage rate might have been in double figures, it was the cheapest form of finance; as it will be today. We do however have to be quite disciplined when using this form of finance or else it could be the most expensive way to buy a car.As for cars being a waste of money, well I guess they are but you get a great feeling about owning and driving something special, the enjoyment is enormous along with memories that last a lifetime. I wish I still had that 1988 911.
SL500UK said:
As for cars being a waste of money, well I guess they are ....
I described in my earlier post on this topic, how buying a 3 year old Aston Martin, can result in surprisingly modest depreciation.
Compare such a purchase and keeping the car for 10 years, with the average new mid-sized car buyer, who replaces every 3years.
One purchase of 3 year old Aston Martin at £60,000. Depreciation about £15,000.
Three purchases of new mid-sized ordinary cars at £20,000 each. Total depreciation about £30,000. (50% for each new car.)
With the everyday car, at year 10, you have a car that you are now keen to get rid of, worth about £10,000.
With the Aston Martin, you have a car that you still enjoy and want to keep, worth say £45,000.
In both examples, there are four wheels and an engine, but with a very different level of demand.
A recent thread on here with an owner discussing his Ferrari FF made me rethink the beneftis of finance.
He'd had a lot of broken promises and issues with the car (from a very well known dealer who tends to park his cars in a pond) who plain refused to deal with the issues. The finance company bankrolled getting the car repaired and then took the dealer to court for costs + fees. Then struck them off the lending panel.
I don't know the absolute full details of the ins and outs but it's certainly a benefit of finance on this type of vehcile that I hadn't considered before.
He'd had a lot of broken promises and issues with the car (from a very well known dealer who tends to park his cars in a pond) who plain refused to deal with the issues. The finance company bankrolled getting the car repaired and then took the dealer to court for costs + fees. Then struck them off the lending panel.
I don't know the absolute full details of the ins and outs but it's certainly a benefit of finance on this type of vehcile that I hadn't considered before.
[quote=21ATS]A recent thread on here with an owner discussing his Ferrari FF made me rethink the beneftis of finance.
He'd had a lot of broken promises and issues with the car (from a very well known dealer who tends to park his cars in a pond) who plain refused to deal with the issues. The finance company bankrolled getting the car repaired and then took the dealer to court for costs + fees. Then struck them off the lending panel.
I don't know the absolute full details of the ins and outs but it's certainly a benefit of finance on this type of vehcile that I hadn't considered before.
[/quote
Funny how this sort of thing doesn’t appear in his self publicity videos he seems to keen on doing ….
He'd had a lot of broken promises and issues with the car (from a very well known dealer who tends to park his cars in a pond) who plain refused to deal with the issues. The finance company bankrolled getting the car repaired and then took the dealer to court for costs + fees. Then struck them off the lending panel.
I don't know the absolute full details of the ins and outs but it's certainly a benefit of finance on this type of vehcile that I hadn't considered before.
[/quote
Funny how this sort of thing doesn’t appear in his self publicity videos he seems to keen on doing ….
Dewi 2 said:
nickv12 said:
Finance is a very personal thing.
2) Cars are not good investments. Only a tiny number of cars can truly bring more money back. But most people who achieve this are lucky, or forgot to add serving, insurance, etc., costs.
3) How much would you enjoy the car? If a first time Aston, a £50k early Vantage or DB9 with the piece of mind of 12 months MD Timeless warranty bought outright is likely to give 90% of the fun and pride as a £150k model financed to the max. It would be a bargain, in comparison, and you’d likely use it more, which is the whole point of having one. Every Aston is special. ...
2) Cars are not good investments. Only a tiny number of cars can truly bring more money back. But most people who achieve this are lucky, or forgot to add serving, insurance, etc., costs.
3) How much would you enjoy the car? If a first time Aston, a £50k early Vantage or DB9 with the piece of mind of 12 months MD Timeless warranty bought outright is likely to give 90% of the fun and pride as a £150k model financed to the max. It would be a bargain, in comparison, and you’d likely use it more, which is the whole point of having one. Every Aston is special. ...
Lots of wise advice Nick.
I was particularly taken by 2) and 3).
10 years ago I bought a 3 year old 4.7 V8V from an MD for £58k at 8k miles. It was the exact spec. which I would have specified new, looked perfect, so although I could have bought a new one at nearly £100,000, why would I?
I had expected that it might depreciate like any other car (eg. that same money spent instead on a Mercedes E-Class, would by now be worth nothing), but the retail prices now for low mileage examples, surprisingly seem to be almost £50k.
Bi-annual maintenance has cost a fair bit in recent years, to include a twin plate clutch with lighter flywheel, a set of Michelin PS4 and Cat and Airbox mods. Overall, 10 years of wonderful enjoyment and hopefully with many more years still to come.
On (2) I’d add everyone seems to forget inflation, that £50k car 10 years ago needs to be worth nearer £100k now to honestly be standing still in value. So the view that cars are not good investments is nearly always true.
On (3) thats more or less what I did. I bought a 14 plate DB9 on the basis that the price wasn’t ruinous and that I would be using it most days. If it needs a bit more TLC come service time because I’ve enjoyed chucking a load of miles on it then thats how it rolls. So glad I didn’t buy a garage queen, the best thing about an aston is using it.
M1AGM said:
On (2) I’d add everyone seems to forget inflation, that £50k car 10 years ago needs to be worth nearer £100k now to honestly be standing still in value. So the view that cars are not good investments is nearly always true.
Certainly agree that most people do ignore inflation. They talk (with envy) about their parents buying cheap detached houses for £35,000, conveniently forgetting the annual wage was probably £5,000 (a 7 times multiple of gross income).
The way inflation is going now, a doubling of prices might become true during the next 10 years, but has not been as bad as you suggest over the past 10 years. The figures below use the more stringent RPI, not the governments favourite CPI, which produces lower inflation figures.
During high inflation, borrowing to buy an asset which increases in value, is of course a winner, so long as redundancy does not happen. Naturally governments quite like high inflation. It lowers their debt values.
Gassing Station | Aston Martin | Top of Page | What's New | My Stuff