What I did when I took out a lease was make sure I had savings to cover mortgage, lease etc for X months. I remember someone on here mentioning the Director at MFI who had 2 cars on lease when the company went bust suddenly.

Wasn’t that sudden. Friend of my Dad’s who worked in city accountancy warned me not to buy anything from them 6 months before they went bust because they were doomed.

Leasing a car though? Not a clue guv.

Well, his lease could have been upto x months before that.

To resurrect this thread….

Vaguely in the market for a new (to me) car as the current one is getting a little long in the tooth and becoming troublesome so looking around.

I’d never considered myself either a new car buyer or a car buyer on credit but…….just found an offer on a model I was after as a 3 to 4 year old at around 45-50% rrp (reasonable residuals) but can now be bought new on PCP with a 20% discount, a few hundred quid deposit and 0% apr on payments. It is a model which is just about to be superseded which means residuals won’t be as good as normal but still……

I don’t need a new car but still very tempted…..will try not to get too drunk this christmas and go for it.

I didn’t think PCP needed a deposit?

Updatorama….
Went for the yeti in the end.
In white…

It’ll be nice, costs just under £4900 for two years (tax,MOT, servicing included our not needed)..

Will see if it’s for me after the two years..either carry on, or buy a used car again..

Just need to see when it’s in, and flog on the octy!

DrP

I didn’t think PCP needed a deposit?

Normally is. About 10% of the value of the car is standard.

Updatorama….
Went for the yeti in the end.
In white…

So what was the annual mileage on that deal? I had a trawl back through the thread and can’t see it mentioned.

8000 miles.
something like 6p per extra mile. Which is only another £60 if we do an extra 1000 miles – not too bad

DrP

Had my 13 year old MX5 for 2 years and have spent £130 pounds on it (two tyres, plugs, filters and oil).
Drives like a new car (35k miles), couple of rust spots on arches and alloys but still looking good.

I got a good price on it, seems to be worth £500 more than I paid if I sold now.

So, if you’re smart, you can make money on cars. In fact, I’ve made money on every single car and motorbikes I’ve owned.

But keep buying into the lie boys. In fact, not just buying into it. Proselytising it

So, if you’re smart, you can make money on cars. In fact, I’ve made money on every single car and motorbikes I’ve owned.

Possibly true for some..but I could argue that my smarts makes me money in my day job…
And point me to a practical family wagon that will appreciate in value….

Anyway.. Nice things are nice..it’s easily affordable…I’d probably waste the money on inaccurate watches etc, and it makes the wife happy…

Winner all round.

But an mx5 would be a nice little weekend car!

DrP