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Mad to be thinking of buying a brand new Low Loader Van?

  • 21-12-2021 11:39pm
    Registered Users Posts: 20,720 ✭✭✭✭ cormie

    Hey folks,

    I've seen mentioned here so many times that when you buy new, as soon as you drive off the forecourt, the value of the vehicle drops by a big chunk immediately so I never gave buying new the slightest bit of consideration but having spoken to a few people about it, it doesn't actually seem like such a crazy idea. I'm just trying to weigh up my options.

    I called into a place who can supply one for €39,260* with weekly payments of approx €200 over 5 years, the interest works out at €12,563 at I think what was 6% or so.

    That's a massive chunk to pay on top. I've been told some dealers had been offering 0% finance on them recently and this would probably be the only way i could see myself actually going ahead with buying new. Are there likely to be 0% deals coming into early 2022 I wonder? The problem is, the stock ones Renault/Opel make, have a smaller body with lower internal height etc so I'm not sure is the 0% thing just something you find at main dealers or what?

    I've also read that people have been successful in getting a discount when buying new. What kind of % discounts are people getting? I also read that if you get a discount, you most likely won't get a 0% finance deal too?!

    A big factor would be the warranty of course. Seems 3 year is standard but you can pay maybe €400 odd to extend it to 5 years? My mileage is low so the time would definitely be up before the mileage would be.

    I believe there could be advantages accounting wise too with depreciation etc but I'll talk to my accountant about that in more detail.

    It's a big commitment and the van I'd be replacing is still going good so I'd appreciate any advice or experiences people who may have been in the same dilemma have had and what the best way to go about trying to get the best deal might be :)

    *all prices mentioned are EX-VAT


  • Registered Users Posts: 2,641 ✭✭✭ Montage of Feck

    What's a low loader van?

  • Registered Users Posts: 20,720 ✭✭✭✭ cormie

    It's a box or luton van with a lowered chassis to allow for access without the need for a tail lift or steps or ramp. The compromise is that the wheels aren't as low so these need to be boxed off in the cargo area so you don't have the completely obstruction free load area like you would in a high chassis luton or box van.

  • Registered Users Posts: 73,755 ✭✭✭✭ Atlantic Dawn

    Would leasing not make far better sense, particularly as you are doing low miles?

  • Registered Users Posts: 20,720 ✭✭✭✭ cormie

    Thanks for the suggestion. I rang a company who do leasing and the guy was brilliant, he spoke to me for about 40 minutes advising me against leasing even though that was his thing. Saying with the miles I do I'd be far better off buying new if possible. Leasing would actually cost more per month and at the end of the term I'd be left with nothing, whereas paying this over 5 years with a 5 year warranty, I'd own the van, which touch wood nothing unexpected happens in that time, I should get a decent chunk of the initial cost if I did want to sell it on at that stage. It would mean all repairs, tax etc is covered in the lease, but with a new van I shouldn't have much to worry about in that regard anyway other than the tax and serviceable items, but again with the low miles, this should be relatively low cost.

  • Registered Users Posts: 7,510 ✭✭✭ PsychoPete

    Are you using it enough to justify buying new? If your current van is going good and does the job for you would it not be best to keep it going until its uneconomical to repair. I'd stay from any Renault Master with adblue, they can give a lot of trouble with adblue,partial filters etc

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  • Registered Users Posts: 20,720 ✭✭✭✭ cormie

    I'm just thinking what happens when my current van is only good for scrap though. At least now I could probably get about 4k for it easy enough (The dealer above offered me €500 trade in hehe). Like am I just delaying the inevitable, but I'm definitely going to weigh up all my options and will probably still use my current van for a while yet anyway, just never even dawned on me to buy new, but maybe it's not such a bad idea.

  • Registered Users Posts: 72,767 ✭✭✭✭ colm_mcm

    It comes down to how much the van is earning you.

    Youll be working for the van for a fair chunk of the week unless you’re very busy.

    Your previous van setup while not the most glamorous is probably the most profitable.

  • Registered Users Posts: 582 ✭✭✭ kaahooters

    comercial vehicales dont count, they get tax insentives and breaks for buying new roughly 1/3 back in refunds / allowances.

  • Registered Users Posts: 815 ✭✭✭ monseiur

    Not sure if it's still available but Ford had a €5,000 scrappage deal on new Ford Transit Vans earlier in the year. Your own van may be too valueable for that. A new long wheel base, high roof Transit would cost roughly €25,000 with scrappage. Would advise to steer clear (pardon pun) of French vans esp. Renault.

  • Registered Users Posts: 20,720 ✭✭✭✭ cormie

    Thanks for the replies! Yeah I admit the idea of getting a shiny new van is an element, but it's more the reliability side of things and no big shocks for repairs for 5 years would be nice!

    It would definitely be a low loader I'd be after though and probably a Renault Master or Opel Movano? From what I've heard, they are quite reliable. I've heard bad things about the newer transits though!

    @kaahooters , when you say commercial vehicles don't count, what do you mean? As in the the loss of value by buying new because I'd get all those incentives is it? I'll need to speak to my accountant about it and see how it all weighs up.

    In the mean time, would anyone know much about the market and the 0% finance and price competitiveness between dealers etc? Would it be likely that there'll be some 0% deals in the new year I wonder?

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  • Registered Users Posts: 7,510 ✭✭✭ PsychoPete

    The Renault Master were a good van until they added adblue to them. The newest ones now are a diaster, some of them are only lasting two or three months till you get a pollution light on and can end up in a cycle of light on,clear it,regen then just rinse and repeat. Some end up having to replace the partial filter and sensors which isn't cheap but that's Renaults solution instead of finding the cause of it. As for the Trafics, they are just a pile of sh!te. Having to do gearboxs,engines and turbos after 2 or 3 years doesn't fill you with much confidence

  • Registered Users Posts: 3,468 ✭✭✭ tabby aspreme

    €12000 in interest, seems high, it's a higher rate than 6% you are being quoted for, regards your own van, there's a shortage of secondhand vans, if it's tested it's worth a minimum of €3000 to sell privately.

  • Registered Users Posts: 3,415 ✭✭✭ vandriver

    My loan app says 12% interest on the figures you gave(or 2.5 % if you were financing the vat as well)

    You need clarity on the finance.For example 6% should give you a repayment of €173 a week.

  • Registered Users Posts: 582 ✭✭✭ kaahooters

    comerical veichales dont count against the "car looses €10k as soon as you drive it off the lot" thats private vehicles only.

  • Registered Users Posts: 815 ✭✭✭ monseiur

    Trying to meet of Euro 5 / 6 emission criteria is the bane of diesel engine manufacturers. EGR, DPF failures are a nightmare, expensive and are giving the best of vans a bad name - not sure there's a solution ?

  • Registered Users Posts: 20,720 ✭✭✭✭ cormie

    Thanks again for the replies. That's good to hear that commercial vehicles don't have the same bad economics of buying new compared to private at least :)

    The 6% was per year I think, if you put 6% interest and annual in here, you get close to the 12K:

    @monseiur and @PsychoPete , does meeting Euro 5 / 6 mean for sure that the van will need adblue and will be one of the disaster vans?

    Still curious on the competition between dealers. I rang another yesterday who I saw was doing 0% a few months back, but he said that those interest rates are dictated by the manufacturer themselves, or at least in this case, it was Opel Ireland who were offering the 0%... now it's at 2.9% I think it was... also curious how much haggling can be done with the price?

  • Registered Users Posts: 815 ✭✭✭ monseiur

    I'm almost certain that all new vans sold in EU region have AdBlue to ensure emissions compliance. Not saying it's a total disaster but cleaning/ replacing EGR DPF can be expensive . Heard of newish vans go into limp mode sometimes without warning - no joke if you're on a motorway 90 miles from home late at night ! Short journeys, where the engine does not reach optimum operating temperature, is the killer and should be avoided if possible.

    Toyota had to stop selling their Hi Ace van in Europe because of Euro 6 regs. they replaced it with the Proace (like chalk & cheese)

  • Registered Users Posts: 3,415 ✭✭✭ vandriver

    If you are getting a 6% loan rate,the interest would be €6,200 not 12 grand.

    Get that offer in writing and check it against loan calculators.

  • Registered Users Posts: 20,720 ✭✭✭✭ cormie

    Not good to hear about the limp mode. I've had problems with limp mode in vans before and it's super frustrating :(

    @vandriver if you check that link I provided above and put in the figures and an annual 6% rate, it'll throw back a figure close to 12K....

    So would anyone know how flexible these dealers can be with haggling? That and the finance % is gonna be a very important factor!

  • Registered Users Posts: 3,415 ✭✭✭ vandriver

    Cormie ,trust me.

    The link you put up is for saving money,not repaying a loan.

    I'm not trying to best you or be smart,I just don't want you to be overpaying for a loan.

    The figures I've given a correct.

    I was once horribly ripped off by a loan from a main dealer and wouldn't like it to happen to anyone else.

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  • Registered Users Posts: 20,720 ✭✭✭✭ cormie

    Yeah I appreciate that, thanks :D I don't think I ever would have gone for that anyway, it's far too much to be paying on interest alone! If I am to go for this, I'd probably hold out and see if any 0% finance deals come up.

    Still curious about the possibility of haggling between the dealers :D