grogi wrote: » It is great that you are able to somehow use that time. But don't fool yourself - you are trying to make best of time otherwise lost.
Sam Kade wrote: » What extra parts? I bought my car almost new (4 months old) 10 years ago with 7k on the clock. There's 260k on the clock now and other than normal wearing parts it hasn't given any trouble or no unexpected bills. It depends a lot on the car you buy some are more reliable than others.
NIMAN wrote: » Swings and roundabouts I suppose. A lot of people in this country would buy a car thats maybe 3 years old on a 4 year loan. So by the time they officially own the car outright, its 7. Its maybe arriving at the age where its starting to need bigger parts, more expensive repairs, NCT etc. It might be worth very little so basically many would own something of little value. As a result many would likely trade-in and start the loan cycle again. So compare this to paying out a constant sum of money every month to drive (never own of course) an up to date, reliable car which might never need NCT'd, which shouldn't need any parts other than wear and tear.
Lantus wrote: » Thanks. So a few hundred a month on a car is bad for me but getting mortgaged to the hilt to move closer to Dublin is ' healthy'. An hour to work is pretty normal to a lot of people whether by car or crammed into a bus or train. I find it quite relaxing. It's time to reflect, think, sing and listen to podcasts. Currently listening to one about spaceships from film, TV and books and an hour in the car is not enough!
X6.430macman wrote: » Keep the car fresh
air wrote: » Even disregarding the financial aspect that is a terrible lifestyle. Spending so long driving every day is going to be seriously detrimental to your health in the long term. Can you not move closer to work?
jca wrote: » All those standard of living cuts for a car? The mind boggles.
who_ru wrote: » Maybe it's just me but i think point of having/owning a car is that one day you eventually stop making monthly repayments to a credit institution. I just cannot see how being in a constant cycle of monthly repayments is a good thing.
Lantus wrote: » It really depends on your own circumstances. Both me and my wife drive 100+km every day and pick up and drop off kids. We spend 2 to 3 hours a day in them.
Lantus wrote: » It really depends on your own circumstances. Both me and my wife drive 100+km every day and pick up and drop off kids. We spend 2 to 3 hours a day in them. They are essential tools that we want to be comfortable, safe efficient, reliable and nice. I'm happy to buy my clothes at penny's and Dunnes and shop at aldi and camp on holiday but I don't want to waste a single second worrying about a car. Don't need it don't want it. Aside from a service and a valet the only thing I need to buy is typically 2 front tyres in 3 years. That's worth something to me but it won't be to everyone. Also, I use a cheaper phone on pay as you go, cancelled sky and generally don't shop or place a lot of value on material possessions.
cart man wrote: » You get >100k km out of your rear tyres, wow that's great, what make are they?
Lantus wrote: » It really depends on your own circumstances. Both me and my wife drive 100+km every day and pick up and drop off kids. Aside from a service and a valet the only thing I need to buy is typically 2 front tyres in 3 years.
who_ru wrote: I just cannot see how being in a constant cycle of monthly repayments is a good thing.
Andres Slimy Staircase wrote: » Unless you keep rollin rollin rollin every 3 years!
mickdw wrote: » you are comparing buying a car outright over 3 years with buying the car outright over 5 to 6 years which is effectively what the the pcp deals do - you pay a portion and if you want it owned outright at the end of 3 years, most would need to finance the gfv amount over a further 2 to 3 years. There is no magic involved. It's actually quite similar to buying your car with a 5 or 6 year loan and trading in after 3 with part of the loan still outstanding.
air wrote: » Complete nonsense. The only possible saving to be made is on the loan APR. You pay interest on the full cost of the car including the GFMV for the full PCP term.
schmittel wrote: » I got a quote for a PCP on a used car recently from a main dealer. It was a 152 low mileage, decent spec. Dealer ran the numbers, and gave me the printout with all the details - deposit, monthly payment and GFMV. It's from VAG bank who are offering 3.9% APR on used, and 0% on new. The difference in rates means buying a new model at 0%, same spec, same deposit is €6 a month cheaper! Have not got back to the dealer yet but will tell him that if it is cheaper to buy a new car than a used one then quite obviously the used one is overpriced. This is going to be an increasingly bigger problem for dealers. They need to keep the used sticker prices high to make GFMVs look good on new PCPs but they will be unable to shift them at those prices.
Andres Slimy Staircase wrote: » No want I'm saying is correct, you do not pay the true cost of the car on PCP if you roll it over after 3 years and buy new again
Andres Slimy Staircase wrote: » No want I'm saying is correct, you do not pay the true cost of the car on PCP if you roll it over after 3 years and buy new again as you are not paying the final payment which is usually a considerable amount. Your monthly repayment are far lower on PCP than it would be to buy the car with a loan, you pay little or no interest also compared to a loan. Also you may not have to save too much of a deposit if there is good equity left in your car and you will have a fair idea of that when buying if you are buying cars that hold their value like VWs etc.
air wrote: » Of course you pay the real cost, it's just the packaging that's different and usually the interest rate. You don't have to go looking for a loan for the headline RRP cost of the car but the overall monthly cost will be broadly similar to a normal loan when you account for having to save up the next deposit along the way also.
Andres Slimy Staircase wrote: » I would save very very few intend keeping it, part of the attraction of PCP is you can get into a new car every 3 years but not have to pay the real cost like if you were doing it with loans etc.
Ivefoundgod wrote: » Right but presumably dealer isn't going to give you 24k is he? More like 20k or so, plus the interesting part is the surge of returning cars on PCP deals. If a 2014 passat is worth 24k now, in 2018 a 2015 passat may not be worth the same. Thats where there could be problems. Its all speculation anyway, we won't know for another few months.
Leprechaun77 wrote: » From my own experience, I have seen a lot of 3 year old Passats on our fleet going back to the lease company. Most would have about 60,000-70,000 kms on them. The list price was generally about €32,800 if I recall. The cost to buy my own one outright was €15,500. I was going to buy it for a family member but did not in the end. Two weeks later I saw the car up for sale in a VW main dealer for €22,000 (slightly more expensive than a few others) and enquired for the craic. The cash price they would have let it go for was €19,250. This tells me that the true value was probably a couple of grand lower than this allowing for warranty etc. I will be interested to see how the PCP "round two" goes as there will need to be a lot of figure fudging going on.
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