Strange topic to some of you so bare with me.

So far I've never had any type of finance, I've always worked hard and paid cash but now im thinking I might try the finance option. By paying cash I take the hit of depreciation at the end when I sell it, where as the pcp finance I take it you are paying the depreciation off every month plus no hassle selling the car at the end.

But how do I know how expensive car I can get for what amount a month?

I take it the monthly cost is worked out from how much it will lose over the term. So I'm thinking two cars both priced at 30k could have different monthly payments? So if I found a 40k car that doesn't lose much it could be cheaper than a 30k that loses loads? If so does that mean I have suffer salesman working out payments for each car I fancy?

I'm lost so help if you can.

Last edited by RRS Daz on Mon Feb 02 2015 8:32pm. Edited 1 time in total

Vehicles that depreciate badly generally cost more to lease per month.

What cars have you been looking at?

I have a friend paying £1,300 per month for the new RRS with up to 20,000 miles per year all maintained. He's stuck with that for 3 years. I'm not Fat. RRS TDV6 HST.

Loads

A4 advant s line
A6 advant a line
C220 estate
E220 estate
Evoque
Discovery
Q5

The things I'm looking for are :-

Been able to tow 1.5 ton
Automatic box
Estate so the dog has a place
Ideally a smaller 4x4 than the sport so the wife might use it more.

I've finished the "summer" car project so that will get used on the weekend, I have a work car then I cycle to the gym after work. So this car is for the family vehicle plus the wife can use to it get to work.

I was leaning towards an evoque but they are loads of money for what they are, then again they don't seem to lose much. So would that be cheaper than a less value discovery?

Hence why I'm lost.

I called into LR last week to have a look at the discovery sport but were disappointed. It didn't stop three salesman jumping all over me with 30 seconds which is what puts me off asking about what I can afford at what per month.

I did however get a mate to get me some idea. 5k down £525 a month with gap, 6k miles per year 48 month contract but he said it doesn't matter because if i trade it in two years later with 20k miles on it would just get valued and would pay off anything left plus the left over is a deposit on the next car.

Hence more confusion!

Another example I've remembered.

2011 a6 2.0 a line 25k miles £25,000 value 5k dep £379 a month.

Then saw brand new same car for 7.5k dep and £389 a month.

So for that bit extra I could be driving brand new v' the older one, the sales guy didn't tell me though I just saw it myself online.

More confusion.

All down to APR rate offered.

Took my RRS out on HP finance with a APR rate of 6%, and also recently bought a slightly used 2014 520d M sport on HP with same rate.

Older cars tend to only get fairly high rates (10-12%), hence why I now only go for fairly newish ( up to a year old) 2014 L405 SDV8 RR Autobiography

2012 RRS SDV6 HSE -Orkney Grey with A/B bodykit - Now Gone
2007 RRS TDV6 HSE - Zermatt Silver - Gone

Have a look at contracthireandleasing.co.uk

Search by many criteria and I found it useful when switching from owning to financing

RRS Daz wrote:

Another example I've remembered.

2011 a6 2.0 a line 25k miles £25,000 value 5k dep £379 a month.

Then saw brand new same car for 7.5k dep and £389 a month.

So for that bit extra I could be driving brand new v' the older one, the sales guy didn't tell me though I just saw it myself online.

More confusion.

MAW wrote:

Have a look at contracthireandleasing.co.uk

Search by many criteria and I found it useful when switching from owning to financing

SPX wrote:

RRS Daz wrote:

Another example I've remembered.

2011 a6 2.0 a line 25k miles £25,000 value 5k dep £379 a month.

Then saw brand new same car for 7.5k dep and £389 a month.

So for that bit extra I could be driving brand new v' the older one, the sales guy didn't tell me though I just saw it myself online.

More confusion.

Depending on your circumstances and how ready you are to buy, there are some cracking lease deals to be had; my friend has just ordered a brand new W212 facelift E220 CDI Sport for delivery on March 1st and it's costing him £280 a month.

JasM wrote:

All down to APR rate offered.

Took my RRS out on HP finance with a APR rate of 6%, and also recently bought a slightly used 2014 520d M sport on HP with same rate.

Older cars tend to only get fairly high rates (10-12%), hence why I now only go for fairly newish ( up to a year old)