The latest trend seems to be pcp deals at least you will know from the outset how much the car is going to cost you over a given length of time. That way at least you don't have the disappointment of the unknown depreciation when you come to trade in or sell.
What's the point in buying new these days who in there right mind wants to lose thousands in the first twelve months in depreciation - buy a ex demo or a dealer pre-registered car with almost zero miles on the clock - save thousands and be happy
Just sold my Vxr E privately. Registered 1st July 2015 with cp & pp and got £11,500 for the car. It cost £16,500 2 years ago.
£208 per month depreciation - you can see why the PCP deals are popular as I've seen people run stuff like Golf R and M135i's for similar (ish) money, hard to argue against itOriginally Posted by Davymac
The guys who took the on deals such as this ended up quids in - http://www.hotukdeals.com/deals/cors...uxhall-2232821
Astra
Other way round, WBAC owns British Car Auditions - https://www.british-car-auctions.co.uk/
That is probably a realistic estimate of depreciation. Almost every car will have lost half its value within 3 years, regardless of options added, condition or mileage. If everything is not going for it, value will be even less.Hi, I have just been down to my dealers to look into trading in my 16 Reg, Shiny Rock, CP,CC,FL and 18" (10k miles) and they told me it's worth £10,500 (£20+K new)think I'll keep it a little longer.
Px price has no real meaning, what matters is how much money you see fair to put in to change. If you can achieve this then you have a deal that is reasonable. If not, walk away!
The more expensive the car, the more money in it to lose. Look at a realistic cost per year to run, allowing for a 50% reduction in value, then no nasty surprises.
Negotiation is key, if you can't get the cost reduced, look at having extras added on for free such as servicing, MOT's, warranty, breakdown cover, even fuel and floor mats. It all adds up and stuff you don't have to fork out for.
Speed cameras and traffic wardens are a bad idea!
That's my thread. That's why we had gone for the lease is depreciation. It's a shame but along with no road tax it was just to good to miss. Mine goes back in sept so will report how that finishes as and when.
I think a breakdown of how it all went might help some understand the option, it might still not be for all but if your goal is to drive a particular car for a particular price point it can make good sense
Astra
For that particular lease deal I specified a Standard Corsa vxr in shiney rock with 10000 miles so I pay alittle more.
With this lease offer the cost was 1+23 payments with 5000miles annual allowance for £155.96.This also includes road tax,breakdown,warranty and years onstar just as buying a new car. No administration fees as direct with dealer.
So basically you pay the 1st month two weeks after delivery and follow with 23 scheduled payments. 24 payments in total which worked out at £3743.04.
Which looked at about posts beats the depreciation value people have seen over two years from buying the car. People's depreciation I've seen being 5k+ within the same time frame and similar miles.
Also with savings for road tax it's even better.
The lease company owns the car and is the keeper. You just insure and maintain the car.
You will have costs if the car is in poor condition when handed back but keep to the guidelines set and shouldn't be any issues. This I presume would apply to car values on handing a pcp vehicle back also. Any excess miles would be charged and ours was at 6p. We're proberbly gonna give back with 1000-2000 miles under to be fair.
My other costs have been to service as per manufactuars guide and insurance. That's all.
When I looked at pcp a dealer said they couldn't get me in the car for under £300 a month so lease was far more feasible and reasonable. We had not intention of keeping the car for a long duration.
The aim with lease I believe is to beat the depreciation. So with my new motor again I have managed to get no deposit and minimal admin/broker costs.
If you have high miles likely won't be suitable although or want it to be your forever motor you likely better off buying.
I will post back the giving back experience in sept.
Hopefully it will help some consider it an option, it certainly beat the depreciation out of it, I guess some might struggle to think of a car as only here for 2/3yrs rather than it's "mine" until I get bored of it.
Cheers
Astra
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