vehicle purchase, is my thinking old fashioned and out of date.

[le bon paysan]

To the OP, you're not old fashioned, you are where the whole country should be not living on the never never

That's me, buy my car. Buy the farm van. Like the French
If you listen to the English round here , if your not in a 4x4 your not "worth knowing" . Shame they can't afford to put a French plate on their ex anglais vehicles, let alone buy a French 4x4

 

[pgk]

No never been charged one penny from Mercedes
But if its badly damaged you put it through insurance
And you should see the state of my cars sometimes- you would cry

Friend had Mercedes seek £2k off him on returning his lease car, bumper had been repaired but "not to Mercedes standard", they didn't even blush when he sent a copy of the Mercedes invoice for the repair.

 

[dudders]

Still got the VW Transporter I bought outright as an ex-demo in 1987. Brilliant vehicle, comfortable in a Germanic way, look down on Range Rovers, pulls like the proverbial. It's 1.9 petrol, now done about 250k miles. Every 4 years or so it goes off for a bodywork tart-up and spray of old oil on the underside. I totally hate hi-tech vehicles - so much unnecessary guff, like heated, vibrating seats ffs, and all the essential bits made so complicated you can't change a lightbulb without a degree. It's been worth the expense to keep the old girl going, and now the value is going up each year.

 

[335d]

Yup, pcp sounds cheaper but isn't. But the great unwashed can't work that out which is why so many use it. And they place restrictions on you, why would you want restrictions?

what restrictions?
you pay a monthly fee based on an agreed mileage. You go over the mileage, you pay this when you hand the car back. If you know you are going to do 30,000 a year, then you are better to agree this at the time you take the deal out, as it will be cheaper in the long run. Normally the first 10% over the agreed mileage limit is at a cheaper price, say 5p a mile.
A few years ago there were some excellent pcp deals for people who do less than 6000 miles a year. think it was something like 2+24 at £199 a month for a golf r. So £5174 over two years. No way you could have bought a new one and sold it 2 years later for £5k less. Dealer margin would be at least 3k.
Of course some people took this deal, done 40k over two years, then had a big lump sumo to pay when they handed the car back due to the excess mileage. That’s their fault, not understanding the deal,if they had agreed on 20k miles a year, the monthly payments would have been higher of course. But probably better off overall.

By the way, I have owned 17 cars and never had a pcp deal, as it wasn’t right for me.

 

[pgk]

Only experience of lease was wife's NHS Peugeot a couple of years back, she signed up to 16k miles pa, in the last year of lease Peugeot had it more than her, lease company gave her money back as car had done 9k miles less than budget as she had Peugeot loan cars. Lease company did list 18 items with pictures such as parcel shelf collapsed, headlining and door trims adrift etc refused to pay unless we had independent engineer inspect as all of that model were known to be the same at 2 years. They gave in as car went through auction day after collected.

 

[Pilatus]

To the OP, you're not old fashioned, you are where the whole country should be not living on the never never

I am convinced if it was not for easy credit , things would have to be a lot cheaper as companies would be selling very little if credit was nonexistent or very difficult to acquire.
Nowadays I see most new car , tractor etc adverts , say “only so much a month to pay”, to buy, lease , contract hire this vehicle, total cash price of item rarely shown.
A generation in the making who know , NO,different.

 

[rob1]

Only experience of lease was wife's NHS Peugeot a couple of years back, she signed up to 16k miles pa, in the last year of lease Peugeot had it more than her, lease company gave her money back as car had done 9k miles less than budget as she had Peugeot loan cars. Lease company did list 18 items with pictures such as parcel shelf collapsed, headlining and door trims adrift etc refused to pay unless we had independent engineer inspect as all of that model were known to be the same at 2 years. They gave in as car went through auction day after collected.

Buying at an auction is the cheapest place to buy a vehicle, most are exhire or pcp so have been serviced properly, the bigger the vehicle the bigger the saving, just have to wacth out for the usual auctioneer trick of taking bids from the walls etc

 

[DRC]

Yup, pcp sounds cheaper but isn't. But the great unwashed can't work that out which is why so many use it. And they place restrictions on you, why would you want restrictions?

The great unwashed !!. Bit rich coming from a farmer .

 

[RushesToo]

Which is by far the most important to own outright.

I think I might argue that the most important asset to own outright is the one that is gaining value most. It might be a bit "French" in attitude, but a house is a machine that you live in.
A farm is different.

 

[rob1]

I think I might argue that the most important asset to own outright is the one that is gaining value most. It might be a bit "French" in attitude, but a house is a machine that you live in.
A farm is different.

once you own your home outright nobody can put your family on the street, that IMVHO is the most important thing in life

 

[Lincsman]

Leasing/ HP companies all make profit, guess who gave them that money.

 

[JeepJeep]

Roof over your head that you own first everything else as needed/as it comes.

 

[Pilatus]

Roof over your head that you own first everything else as needed/as it comes.

No,it is much more important that I am buying a Fendt tractor, on credit , or I certainly get the impression that some individuals think that way

 

[JeepJeep]

You'll get financed for anything these days.. but it's having a pot to pee in that counts.

 

[Skintagain]

Buy

IF you can afford it on the day of purchase its yours. Life goes tits up it’s still yours and you can sell it no awkward deals go try and get out of. My father drummed this way into us as kids, if you can’t afford it you don’t buy it. New cars break down just as easy.

 

[Campbell]

My first accountant, some years ago now, advised me not to go borrowing money on a depreciating asset. I think I had a cunning plan to buy LR Discovery.....

 

[Johnnyboxer]

once you own your home outright nobody can put your family on the street, that IMVHO is the most important thing in life

Very true
First thing I did in life was to repay the mortgage & collect the deeds
Felt great

 

[kiwi pom]

So if you were to pcp a mid spec 4wd pick up how much would it cost you a month and how many miles could you do?

 

[Highland Mule]

what restrictions?

Biggest restriction for me is the duration of "ownership". I may decide I really like the car and want to keep it five years, or that I hate it/ job changes/ need a seven seater and want to flip it after 6 months. If it's mine, I can do that. If it's on lease/ PCP, it becomes more awkward to do so.

 

[TristanTonks]

Hi Guys,

I'm a Commercial Manager and I can categorically assure you that vehicle manufacturers and financiers are NOT your friends. I have a tonnes of data going back 20 years.

1. Never buy brand new vehicles. Let some wealthy idiot take that hit for you.
2. Buy 'cash' and low mileage.
   • Auctions are good but be smart - know your vehicles and their true value.
   • Expect to go from the auction to the garage first time every time.
3. Get to know your vehicles and if you have a fleet - try to buy compatible models.
   • Know which parts cannot be economically replaced - normally only the chassis.
   • Don't imagine that new vehicles are greatly better than old ones - they simply are not.
   • New models come along to sell units - not to offer you greater service.
4. Don't be shy about maintenance.
   • If it's broken - don't keep trashing it - get it fixed now.
   • Of course it will cost you - but managed carefully IT IS CHEAPER.
   • More importantly - this supports your local community.
   • Support your local community - find a great fitter and treat them well.
5. This is also far better for the environment.
6. Operating your vehicles/fleet this way is a 'long-view' - which is slightly old fashioned, but very beneficial to your pocket and your stress levels.

In conclusion: vehicle manufacturers have very carefully and with massive investment, sensitized our minds to have an emotional reaction when we see, drive, feel and 'need' new cars - don't fall for it. These are your tools to do a job for you. Make sure that's what is happening when you buy a vehicle.