Originally Posted by gangzoom
I think this is the key, I can never see my self spending £400/months + for 24-36 months and than just handing the car back. But I understand the argument about loosing money on depreciation etc but I just cannot justify it to myself.
But at the same time I could never spend £30K on a brand new car and watch it deprecate like mad...which probably explains why the newest car I've ever bought was 24months old.
My wife on the other hand bought her Civic as an Ex-demo for cash. The dealer tried his hardest to make her go down the PCP/Finance route, trying to tempt her with the idea of driving a new car every 3 years etc..but she wasn't having any of it.
It cost £15K newish 5 years ago, we've put 70K miles on it, and apart from fuel/tyres and servicing not spent a single penny on it. I have no idea how much its worth, she doesn't really care either. We'll probably replace it in another 4 years when its got well over 120K on the clock....
By than it'll be worth £1k+ at the most
so she would have "lost" £14K over 9 years. But had she gone done the PCP/Hire purchase route say spending £250/months (I have no idea if thats realistic) over 9 years that would have cost her £27K (not including any deposits).
Fair argument but your bill for fuel/tyres/servicing/repairs (esp when older) needs to be factored in....
Current - M-Benz C250Cdi Sport Plus Auto Est.
Previous - Alpina D3 BiTurbo E90 LCI Manual, 320d M Sport E92 Auto, 330i M Sport E92 courtesy of BMW UK....320i M Sport E92 Auto, 320d SE E90 Manual.