I have a budget of around £200 per month to spend on a car plus the cost of road fund licence /12, mot cost /12, servicing /12, plus cost of a set of tyres
So all in about £240 month budget. This obviously does not take into account the cost of repairs should they be required.
Am i correct in thinking that with a lease car i pay £x and this covers everything except fuel?
My first car cost £200 to buy.
MOT £35, new tyre £40, tax £180.
Lasted nearly a year too, then got £60 scrap for it.
Bugger leasing, bangernomics is the way forward. 2-3 months of your rent to run it for 12 months and not tieed into anything should circumstances change. Also, be very wary of leasing/HP if doing big miles. But then be wary of bangers too.
And the insurance is probably cheaper on the banger too, other things being equal.
Anyone else have a front brake worth more than their car?
You could get a good size loan for £200 per month and have a pick of any car you like.
No. Different leases will include and exclude different things. Some are fully maintained with servicing tyres etc all included, other cover only the car itself and you have to for everything else on top.
Depending on your mileage check the small print carefully, the really tempting offers you see tend to be 10k max per year and fairly hefty penalties per mile for going over this. Also many companies will only do leases to companies. Most dealers have similar options for private use as well, in various forms.
There are certainly much cheaper ways to get your motoring but if you like a fixed cost/risk and new cars they can be a good deal.
I reckon on doing on average 12k miles per year
Leasing companies will also screw you for every bit of damage/misuse they can, once it comes time to hand the car back.
what's wrong with the mondeo? you probably own it. the only reason to lease a car is to drive something you can't afford to buy
12k sounds like excess mileage charges would apply
will the bike be going in / on it?
seriously, unless your selling your mondeo to get a van it sounds like a waste of money
Don't do anything for a couple of months, you're a teacher aren't you? I'm sort of NHS. My current scheme ends next month and we were told no new one so I bought a new car. Last week we're told that that there will be a new pan-Government leasing scheme but not limited to departments etc i.e. for all public sector for those that qualify. Teachers/ schools/ fire etc were mentioned in the email I had. Needless to say I'm rather miffed as the timing couldn't have been worse for me.
Pieface - Member
what's wrong with the mondeo? you probably own it. the only reason to lease a car is to drive something you can't afford to buy12k sounds like excess mileage charges would apply
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Nothing Will - just will have the cash to spend on a new car in a few weeks
So £240 over 12 months is £2880.
For less than that you could buy a perfectly nice, reliable car. Say you spend max' £1500 on a car with 12 month's MOT, put 12k miles on it, service it once and sell it for £1000 or keep it another year (saving £2880), then another year. If you maintain it and it stays reliable then the longer you keep it the more sense it will make.
You'll need to buy the right car obviously, but some lovely mid to late 90s Jap metal could give you what you need.
Or keep the Mondeo unless it's on death's door.
Which it definitely is not 🙂
keep the mondeo and save the money for bikes / house / daughters university, a decent holiday?
its your money so you can do what you like, but if you've got a car that you've already invested money in and are trying to sell to others as a safe bet just seems bonkers to me