Lease or PCP or buy used?

[Randell]

Looking to get rid of bus (9 year old Previa) as elder kids do their own thing now. Still need a practical car, capable of camping fields, alp runs and shoppig trips. So looking at a soft-roader like a CRV or XC60.

Can't make up my mind which way to turn though. Although quote for new XC60 on a PCP from Volvo looked a bad deal to me!

What do you all do? Can anyone point me to a decent lease or buy calculator.

[burundi]

Buy used personally but the funds don't run to a new car on HP.

[DizMatt]

for your options I like the look of the 2nd hand RAV4s and then the urban cruiser
looks larger and practical but a little different
or a legacy or forrester
bootspace and 4x4

[Ghost]

Depends on monthly budget, but to be honest i always find lease a pratical alternative to buying as it doesn't leg you up with the depreciation.

That is unless it is a heavily subsidised manufacturer model, where all the deal support they pay is towards pcp. An example of this is the citroen DS3 Which generally works out £40 pm less than a lease.

In the class of vehicle you are looking at I really would recommend a look at the Peugeot 3008

I loved mine while i worked for them and it probably was the nicest Suv i have had in years.

[Ghost]

looking at www.contracthireandleasing.com you can get a nice 3008 hdi SR with Sat Nav and Blue tooth for less than £190 + Vat

http://www.contracthireandleasing.co.../3008/9897447/

Or if you really fancy a XC60 this looks like a good deal

http://www.gateway2lease.com/z_volvo...28_leasing.php

[Randell]

the 3008 isn't 4WD, much more MPV than SUV, the Rav-4 is too small, and after 2 Previa's and Yaris I've had enough of Toyota's for a while!

I've done what car I've want research, I was after opinions on buying new or used v leasing.

I pretty much have always been against buying new anyway because of the deprciation. It's definetly down to buying use v leasing now.

Cheers

[Ghost]

Yeah 3008 ain't 4v4 it's true I guess that why it is called a crossover, oddly though my DMS still places it in SUV Cat though.
Anyway one thing to consider even on used cars is the depreciation on Volvo's is pretty high since August Glasses Guide the XC 60 SE for example has depreciated by £1250, which to be fair will stabilise a liitle in Nov's GG but as we move into Jan the kicking in the Nuts of 4x4's will begin again, but when you have a look at the fact that £300 a month leases you one for a couple of years.
Unfortunately i don't have any Volvo Dealers in My Group, However if you are still intent on buying as opposed to leasing and if you know someone locally with access to a trade account for the Auctions. I would definately say that is the avenue to go and get them to buy you one at trade as with all prestige cars the difference between trade and retail is massive. and you would save yourself a few thousand doing this and there are plenty of ex-lease ones that come into the market if you know where to look.
If i can be of any further help give me a shout.

[Randell]

I'm not definietely intent on buying, after the PCP quote I got on Saturday it would be a 2-3 year old one. I did read somewhere that the XC60 was one of the best cars for depreciation in the SUV arena.

I'm definitely leaning back to leasing as the cashflow impact is so much better.

[Ghost]

Well a couple of examples on the used front are this one

http://www.autotrader.co.uk/classifi...ge/1?logcode=p

2 yrs old D3 £17999 with 31k To be honest i stand next to FoW's Buyers most weeks at auction and at a auction you would expect to pay between £14,800- £15800 dependant on colour history etc

Or there is this one going thorugh Belle Vue Auction in Manchester Tomorrow

VOLVO XC60 2.4 D 175 2WD DRIVE S Estate
BLACK, 5 doors, Manual Transmission, Diesel,
38405 miles, Warranted, VAT Type: Marginal,
Registration Date 23/10/2009, Grade: 3

it will probably go for £13,000- £14,000 and then next week will be on someones pitch for £17,000.

But if it was my cash after 15 years of working in dealerships and now running 4 sites, just lease it.

No risk, no depreciation and you get a nice new shiny reliable motor every couple of years.

Even if you fancy somethng other than the XC60 give me a shout and i will point you in the right direction.

[Randell]

thanks Ghost, been busy at work last couple of days. I'm off to Dublin on Thursday/Friday, but have next week off, so will look in earnest then. Will test drive a CRV at the weekend probably. Yeah I did dome more maths and whilst I could technically be slightly worse off on a lease, compared to buying a 3 year old car, one big repair bill after on a 5-7 year old car for something expensive (say turbo in diesel) will ruin that.

[Ghost]

if you do decide on used let me know, i'll see if i know anyone near you.

[Bilb]

Here's one option:

Buy a car a couple of years old. When most of the depreciation has taken place.
Finance it with "traditional HP" over say 5 years.
By traditional HP, I mean, with the Voluntary Termination clause still included. (None of this personal finance tosh).
You then make half of the payments ... so 30 months (minus the deposit, so around 25 months)
Then you call and ask to terminate the agreement.
You hand back the car, they cut up the finance agreement.
Outcome, you only pay half of the interest, as you've ended it early. You've had a car from say 2yrs old to 5yrs old.
You are then in a position where you are without a car ... but the bonus is you can go into a car dealership and say "I don't have a car to part-exchange, give me HUGE discount on the vehicle I'm going to buy".
Explain that you want it on traditional HP, and that you want the discount to be shown as the deposit for the HP.
So, for example you walk in, look at a car for £10k. You negotiate £1k off the screen price for not having a car to trade in.
Finance £10k over 5 years with £1k deposit (made by car dealership).
You then have £9k + interest split over 5 years. But once you've made half those payments you can hand the car back (remember the dealership has already started you off by £1k!).
The Voluntary Termination clause is absolutely hated by the car industry and they challenged the government to get it removed. It was refused, hence why they now try to push you towards Personal Finance. They also say "VT will harm your credit rating" .... errr no it wont, it's perfectly legal financial move, and once which works well.

When I've explained it to folks before, they say "But you don't end up with a car at the end, so you have no asset". Correct, but a car is never an asset with the speed at which they depreciate, it's really just akin to renting a car ... but without the mileage limitations of leasing!


This works on all cars up to 25k.

[Randell]

OK having test driven both, prefer the XC-60. Now the weird bit, the XC-60 monthly lease charge is over £100 pm cheaper than the CR-V!! The CR-V is quite a bit cheaper list OTR price.

[Bilb]

I think the XC-60's are lovely.

[Randell]

yeah, odd for a boxy 4x4 but I like the style better than most in that category

[Randell]

So, XC-60 D4 AWD SE ordered on a Personal Lease for 3+36 months. Quote from independent lease firm was over £70 a month less than from main dealer!! Hope it all goes OK!! Should arrive in a month!

[Bilb]

Fantastic